0 Replies Latest reply on Oct 27, 2016 3:29 AM by ParitMittal

    #AdobeChat- Big Data- Oct 26

    ParitMittal Level 5

      Hi everyone! Each week on Twitter, @AdobeMktgCloud asks several questions to the community. Responses are transcribed here to facilitate further discussion. The following are highlights from today's chat around Big Data.
       

      Q1: Give us your explanation of what the term Big Data means.

      Joe Martin @joeDmarti
      Using your companies large data sets to identify patterns and trends that can benefit future strategic decisions

      Lexi Monaghan @Lexi_Monaghan
      Big data is mass amounts of info that businesses collect from their own business processes and from their customers

      Ken Burbary @kenburbary
      Large data sets that must be analyzed computationally for benefit of identifying trends, patterns of value

      Livefyre @Livefyre
      Big data reveals useful customer trends/patterns that improve a company’s marketing strategy.

      Alexia P. Bullard @ap_bullard
      The massive amt of data an organization handles daily. Amt of data is too large for traditional data processing applications.

      Daniel Newman @danielnewmanUV
      #BigData represents all the accessible information (structured and unstructured) that is available to an organization.

      Sue Duris @SueDuris
      #BigData is the bright shiny object that must be used strategically. Only use to measure what's right for YOUR customers


      Q2: What kinds of data do I need in order to generate useful insights?

      Alexia P. Bullard @ap_bullard
      Largely depends on the goal. Example: Are you trying to increase website traffic, or do you want to focus on conversions? Even still, focusing on the 4 major types of big data #BI is key: Predictive, prescriptive, diagnostic, and descriptive.

      Joe Martin @joeDmarti
      That is the beauty of it. Big data is a movement focused on using data to lead strategy. There are big and small #Bigdata opps

      Storify @Storify
      Gaining successful insights means defining your goals w/ data. Consider what you want to do with the actual data

      Ken Burbary @kenburbary
      Any and all data that reveals what your audience thinks, wants, needs, expects and how they behave. Always define your learning agenda before jumping in to data collection and analysis

      Liliana H @Liliholl
      Basic data will help you define things like: who your customers are, where they're, how they connect w/ you etc.

      Nate Smith @natesmith5150
      Start integrating what you have. e.g.Clickstream+Email. See what insights come. Add another data set. Big Data starts small

      Emily Thomas @emitoms
      Collecting valuable data requires knowing your goals. Have a clear strategy in mind & the data you collect will be applicable


      Q3: Big Data: where do I even start?

      Lexi Monaghan @Lexi_Monaghan
      First - you need to know your own business inside and out. From there, determine what data is most critical to hit your goals 

      Daniel Newman @danielnewmanUV
      Start by considering the business problems you are solving. Increasing sales, employee satisfaction, #CX. Then find the data.

      Ken Burbary @kenburbary
      Start by leading with business strategy you're supporting. Don't start with solving "what's our big data strategy?"

      Victoria Taylor @VictoriaTaylUK
      I would always think about customer experience and then work back from there to understand the data needed 

      Sue Duris @SueDuris
      #BigData should always start with your customers and you always have to have "how can I delight you today" on top of mind. Thinking business strategy first with #bigdata is wrong step 1, it is step 2 after #customers

      Joe Martin @joeDmarti
      Think about what data you have access too and then hypothesize what that #bigdata could do to benefit your business

      Alexia P. Bullard @ap_bullard
      W/o any prior knowledge, there are open courses available as a resource. Tutorials, online classes, and open courseware.

      Nate Smith @natesmith5150
      With the biz questions. That will dictate your data requirements.

      Rina Popat @RinaSPopat
      If you aren't comfortable with big data employ someone who is they will have the expertise. It can cost you more making marketing plans with data you have analysed which is not correct

      Ken Burbary @kenburbary
      99% of all issues are based on a difference between what each person is solving for. First, get to a shared vision.


      Q4: What opportunity does Big Data provide for marketing organizations? 

      Lexi Monaghan @Lexi_Monaghan
      Big data finds the gaping holes between what consumers desire and what your competitors offer 

      Daniel Newman @danielnewmanUV
      Companies can gain a much more in depth view of the customer journey with #BigData. This helps determine strategy & tactics. 

      Sue Duris @SueDuris
      #MarketingAutomation is a #CMO's best buddy. And a required investment. #BigData

      Livefyre @Livefyre
      Provides intelligence to drive segmentation, sophisticated personas & targeted campaigns to engage & motivate consumers

      Rina Popat @RinaSPopat
      Understanding your customers trends is key as you have the insight about their buying trends. big data can help with targeting+segmentation as well as undertaking what platforms work with diff audiences. data analysis = oppo of understanding your customers w/out having to ask for feedback. Interpretation is key 

      Alexia P. Bullard @ap_bullard
      Provides valuable insight for creating targeted campaigns or products. Data shows what your target audience looks for. 

      Victoria Taylor @VictoriaTaylUK
      I don't think it's so much the data but rather the insights gained from data to create better experience 

      Nate Smith @natesmith5150
      More engaging experiences. Cross-channel data populations = greater precision customer insights.

      Ken Burbary @kenburbary
      Quite simply, creating better business outcomes. Better CX means happier customers means more loyal customers means $$$$

      Crimson Hexagon @crimsonhexagon
      More data = more consumer insights. Companies that put consumers first succeed when they tap into data!

      Gary McIntire @garymcintire
      Question: When 90% of the products people buy can be called commodities, should big data NOT be identifying relationships?

      Vishal Rose @Vishal_Rose
      Big Data gives a valuable insight into society's behaviour,which can effect the direction of your #content


      Q5: How do you translate the mass of information available in Big Data into actionable insights?

      Lexi Monaghan @Lexi_Monaghan
      determine the problem you're trying to solve, hypothesize solutions & use data to either prove or disprove your strategies 

      markboothe @markboothe
      Big Data=Big Buzz Word! The key is not #bigdata but using all data sources to get actionable insights that will drive ur biz 

      Victoria Taylor @VictoriaTaylUK
      To really understand what questions are needed to answer in order to succeed from the offset

      Livefyre @Livefyre
      A systematic & targeted approach is the most effective way to leverage big data in order to optimize a marketing strategy

      Daniel Newman @danielnewmanUV
      Start thinking about the Little Data. What are 1 or 2 big problems and what data can help you solve them?

      Rina Popat @RinaSPopat
      Amazon turns previous data+items you put in your basket into actionable insights =reminder emails to purchase 

      Sue Duris @SueDuris
      Ensure your #BigData supports what you are trying to do with your KPI's. Be flexible. #KPI needs evolve with your business.


      Q6: How has Big Data guided the collaboration of your organization across platforms?

      Joe Martin @joeDmarti
      The @AdobeInsights team is founded on #BigData for ext. research around marketing, retail spend, movie profitibility, etc.. No doubt #Bigdata is huge for online retailers like @zappos @ebay @amazon and others 

      Nate Smith @natesmith5150
      Non-data users are becoming data-driven in decision making. All employees now responsible for customer engagement

      Rina Popat @RinaSPopat
      BD has allowed us to understand if what we are sending clients is what they want+ if they are interested in it 

      Lexi Monaghan @Lexi_Monaghan
      Provides cross-channel insights marketers need 2 decide what customer data is most relevant to optimize strategies 

      Sue Duris @SueDuris
      #BigData has really been that glue. Also has helped to knock down some silos.


      Q7: How has your use of Big Data transformed over the past year? 

      Rina Popat @RinaSPopat
      BF has allowed us to tailor our offering to the right segment+ensured we have tightened our marketing plans. Bd, insights and data in general cannot be ignored.the facts need to be used to better the orgs strategy

      Lexi Monaghan @Lexi_Monaghan
      From small/general demographic info to specific/targeted info about current & potential customers

      Sue Duris @SueDuris
      #BigData has helped with #CX in journey mgmt, #VOC prgm dev. Simplified, sped up process and made actions more effective.

      Mordecai Holtz @mordecaiholtz
      Big data enables us to identify trends/ target audiences and important marketing steps 


      Q8: Is Big Data really what I should be thinking about, or is there something else?

      Lexi Monaghan @Lexi_Monaghan
      Big data is becoming more and more important/influential for marketers. But that doesn't mean they should ignore other trends 

      Sue Duris @SueDuris
      Read up on #marketingautomation and benefits via @MarTechAdvisor @chiefmartec @mktgtechblog #AdobeInsights and @CMO_com. Also suggest reading about #CX and what #BigData has done to move the space forward.  

      Brian Fanzo @iSocialFanz
      Focus should be on the insights and the questions that can be answered with data.. also questions we haven't asked yet!

      Gary McIntire @garymcintire
      Big data is TOO BIG. Start small: Define your perfect customer base as a nucleus, then use data to expand your community.
       

      What insights would you like to share on big data? If you didn't have an opportunity to respond on Twitter, please share your thoughts here!