As more businesses consider the benefits of social media, champions are increasingly asked to prove tangible business value. In its continuing analysis of the impact of social media on sales and marketing initiatives, Nucleus has found that companies can achieve significant benefits by adding social capabilities to CRM deployments, including reduced costs, increased sales, improved employee productivity, and improved brand visibility.
Our lives have become hectic.
We are working harder and longer. We talk about life balance, but for so many of us we continue to have imbalance. Every once in a while we need to step back, press the “pause” button on the Stairmaster exercise machine, take some deep breaths, and reflect on just what the heck is going on. I’d like to reflect with you my take on what is driving the accelerating interest in analytics and Big Data.
Garbage in, garbage out (GIGO) has been a familiar term used to describe data quality and its usefulness. In our age of “recycling” and “reuse”, perhaps a more contemporary rendering of this phrase might be, “What starts out as a tiny piece of irrelevant information, winds up as Big Data”. Every day, every second, huge volumes…
Data scientists who do mashups from disparate data sources are able to gain deeper insights into problems and develop more comprehensive approaches toward attacking them by having a richer data set to work from. In turn, data mashups can help companies become more agile and speed time to market.
Consider the use of customer data.
Big data and analytics are top corporate, top-three corporate or top-10 corporate priorities in their organizations’ strategic agendas, according to 65% of 1,469 C-level executives taking part in a recentsurvey by McKinsey & Co.
Forty-four percent of the respondents say that they’re generating more value from big data and analytics than their competitors, while only 28% say the same for social tools or technologies.
An even larger share of executives in healthcare and pharma (56%) and business-to-consumer companies (50%) say the same about big data and analytics.
While the rest of the world is focused on volume, velocity and variety, Big Data has a real challenge that is larger than distributed storage and processing and larger than sources and types of data.
It has a problem I’ll call the Big Lever. Put another way, “What do you do once you think you’ve engineered something meaningful? How will you pull the ‘business lever’?“