Big Data Ebook
Big Data Ebook
D ATA
AND
BEYOND
How companies can find insight in Big Data
by TYLER DOUGLAS
visioncritical.com
CONTENTS
INTRODUCTION
THE ADVANTAGES
OF BIG DATA
11
11
HUMANIZING DATA
14
CONCLUDING
THOUGHTS
15
END NOTES
16
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INTRODUCTION
We live in a world awash in data. Every credit card swiped, loyalty card presented, TV show watched
and movie downloaded, every Facebook post, Tweet, Pinterest pin, Candy Crush game, Etsy transaction, and Fitbit readingits all encoded in trillions and trillions of ones and zeroesready to be
mined, organized, aggregated, prioritized and translated into meaningful information. We live in an
era in which computing advances have ignited and propelled an explosion in terabytes, petabytes
and zettabytes (1 ZB = 1 trillion gigabytes) and more. For businesses, big data can mean big money
if professionals can gain insights from the vast and expanding sources of information out there.
But big data has become a serious problem for many companies: the amount of data theyre
collecting is overwhelming, and they cant decide what data is useful. Big data can give companies answers to some of their questionsespecially when it comes to marketing to their customers. Where are they? What are they looking at? What are they buying, and what are they passing
up? But big data cant tell companies why customers make the choices they do.
In this e-book well discuss the tremen-
PHOTOS STORED
ON FACEBOOK
AMOUNT SPENT
ON BIG DATA
(estimated)
40 billion
(2010)
$31 billion
(2013)
$114 billion
250 billion
(2013)
AMOUNT OF
INFORMATION STORED
DIGITALLY
(2018)
only 0.5%
AMOUNT OF DATA
PRODUCED IN
2 days in 2015
25%
(2000)
98%
(2015)
21 billion
Number of Internet-connected
products expected by 2018
All of history2003
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THE RISE OF
BIG DATA: HOW
COLLECTING
DATA BECAME
INTEGRAL TO
BUSINESS
65%
of senior executives
embrace big data
to stay competitive
customers lives.
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this data on the resorts website, and compete with their friends to earn better rankings and rewards. All this encourages customers to spend more time on the slopes.6
3 PASSUR Aerospace PASSUR,
THE ADVANTAGES
OF BIG DATA
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BIG DATAS
LIMITATIONS
10
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85%
of social media
updates come
from so-called
enthusiasts
29%
of a typical
companys audience
are enthusiasts
Once seen widely as a holy grail for companies seeking real-time insight on their cus-
For instance, cross-device tracking, a powerful tool for marketers, enables companies
In April 2015, the U.S. Federal Trade Commission announced that it plans to examine
12
app that wont monitor their locations, contact lists and other personal information.
13
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GETTING TO
THE WHY
HUMANIZING
DATA
In an important report on big data published in April 2015, Forrester Research
declared, Businesses are drowning in data
but starving for insights. Worse, they have
no systematic way to consistently turn data
into action. This cant continue. Demanding
customers and competitive pressures require
business asset.
15
The report cites Ford Motor, General Elec1 NetflixThis company is said to ac-
50,000
has identified nearly 80,000 new microgenres of films, which helps the company to
better serve its customers.
2 LinkedIn If youre a LinkedIn user,
Facebook users
signed a petition
protesting a
program that
tracked their online
behavior
17
CONCLUDING
THOUGHTS
and loyalties.
END NOTES
1 The Rise of Big Data: How Its Changing the Way
We Think About the World, by Kenneth Neil Cukier
and Viktor Mayer-Schoenberger, Foreign Affairs,
May/June 2013 https://www.foreignaffairs.com/articles/2013-04-03/rise-big-data
Humanizing Big Data, by Colin Strong, published
by Kogan Page, 2015
5 things you need to know about big data, by
Jamie Hinks, techradar, April 9, 2015 http://www.
techradar.com/us/news/world-of-tech/future-tech/5things-you-need-to-know-about-big-data-1290575
enterprises-will-increase-their-investment-in-big-dataover-the-next-three-years/
10 Using Big Data And Machine Learning To Enrich Customer Experiences, by Kurt Marko, Forbes, April 8, 2015
http://www.forbes.com/sites/kurtmarko/2015/04/08/
big-data-machine-learning_customer-experience/
11 You May Not Need Big Data After All, by
Jeanne W. Ross, Cynthia M. Beath and Anne
Quaadgras, Harvard Business Review, December
2013. https://hbr.org/2013/12/you-may-not-needbig-data-after-all
12 FTC to examine privacy issues with cross-device tracking, by Mark Pribish, The Arizona Republic,
April 10, 2015
13 Smartphone users value their privacy and are
willing to pay for it, CU-Boulder, Dec. 10, 2013
http://www.colorado.edu/news/releases/2013/12/10/
smartphone-users-value-their-privacy-and-are-willingpay-it-cu-boulder
14 How Target figured out a teen girl was pregnant before her father did, by Kashmir Hill, Forbes,
Feb. 16, 2012 http://www.forbes.com/sites/kashmirhill/2012/02/16/how-target-figured-out-a-teengirl-was-pregnant-before-her-father-did/
15 Digital Insights Are the New Currency Of Business, Forrester Research, April 2015 https://www.
forrester.com/Digital+Insights+Are+The+New+Currency+Of+Business/fulltext/-/E-RES119109
9 56% of Enterprises Will Increase Their Investment In Big Data Over The Next Three Years, by
Louis Columbus, Forbes, March 22, 2015 http://www.
forbes.com/sites/louiscolumbus/2015/03/22/56-of-
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