Big data - challenge or opportunity
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Big data - challenge or opportunity
- 1. Big Data – Challenge or Opportunity? A Digital Solutions Firm delivering Marketing and Technology Solutions New York . Toronto . Phoenix . Los Angeles . London. Dubai . New Delhi
- 2. Presenter Shawn De Souza Demand Generation Practice Director 1
- 3. About eDynamic eDynamic is a digital consultancy that helps clients acquire and engage customers through cutting edge interactive solutions Experienced. Founded in 1999 Trusted. Diverse business critical projects delivered for mid-size to Fortune 500 organizations Versatile. Experience across diverse verticals, including Financial Services, Technology, Retail, Media & Publishing, Education, Travel and Hospitality and Energy Global. Locations in United States, Canada, Middle-East and India 2
- 4. eDynamic Empowers the Marketing Process Our capabilities center around empowering the marketer during the entire customer lifecycle, from acquisition to engagement 3
- 5. eDynamic's marketing automation offering Our services are geared to address the challenges in the deployment and use of a Marketing Automation Platform Marketing Automation eDynamic Offering Organizational Skills Gaps Strategy & Readiness & Consulting Strategy Process Gaps Campaign Design Campaign Design and Execution and Execution Organizational Readiness Day to Day Managed Operations Services Technical Readiness Technology Implementation 4 Installation Services
- 6. Why we are here 5
- 7. Points covered in this webinar 1. What is Big Data? 2. How does big data affect you? 3. The three key facets of Big data 4. How to get started 5. How to interpret and use data effectively 6. How to drive authentic customer engagement 6
- 8. What is Big Data? 7
- 9. Global Data Capacity Exceeds 295 Exabytes* Communications have increased by an average of 28 percent every year since 1986. 2002 2012 • Digital Data • 2.5 Exabytes of exceeds Analog data created every Data day 2007 • 65 Exabytes of information shared • 94% of data stored 8 digitally Source: Martin Hilbert, USC Annenberg School for Communication and Journalism. An Exabyte is 1 Billion Gigabytes
- 10. There is a data explosion 9 Source: WIPRO Infographic in Petabytes
- 11. What’s driving Big Data? 10
- 12. What’s driving Big Data? SO + MO + CLO 11
- 13. Social 20% of FACEBOOK Users have purchased something because of ads or comments they saw there SO 12 Ipsos North America Survey
- 14. Social YouTube is the second largest internet search engine SO 13
- 15. Social 91% of today’s online adults use social media regularly SO 14 Experian 2012 Digital Marketer Benchmarks and Trends report
- 16. Mobile 45% of US Businesses are conducting some form of Mobile Marketing with the most common tactics being: Mobile Sites (70%) Mobile Apps (55%) MO QR Codes (49%) 15 StrongMail.com Mobile Survey www.strongmail.com/pdf/SM_MobileSurvey201
- 17. Mobile 80% is the increase of Email Opens on Mobile devices in the first 6 months of 2012 MO 16 http://litmus.com/blog/email-client-market-share-stats- infographic-june-2012
- 18. Mobile MO 17
- 19. Mobile MO 18 Pew Research Center
- 20. Mobile MO 19
- 21. Cloud Computing 50% of Global 1000 companies will have stored customer-sensitive data in the public cloud by 2016 CLO 20 - Globe and Mail – Cloud Atlas, Return on Business
- 22. Cloud Computing $241 Billion Cloud computing to grow to over $240 billion by 2020 from $61 Billion in 2012 CLO 21 Forrester Research
- 23. Cloud Computing 61% of corporate computing is happening in the cloud CLO 22 Citrix Cloud Computing Survey
- 24. Google’s Datacenters 2,259,998,000 Kilowatt-hours used by Google in 2010 20 Petabytes processed everyday 23
- 25. 3 V’s of Big Data Volume Velocity Variety 24
- 26. Volume Amplifies and creates reach 25
- 27. Velocity Rapid insights provide competitive advantage 26
- 28. Variety Everyone’s an advertiser, broadcaster and data generator People with people People with Machines 27 Machines with Machines
- 29. Ordinary Data vs Big Data Ordinary Data Big Data Static Dynamic Structured Structured and Unstructured Collected and stored It’s everywhere Complex Simpler but lots of it Manual Batch Processed Automated Real-time Processing Rear-view Reporting Predicts the future 28
- 30. Why does this matter to you? 29
- 31. It’s not about data! 30
- 32. Big Data is about insight 31
- 33. Understand where your customers are 32
- 34. Understand who your best customers are 33
- 35. Applications for Marketing 1. Customer Service Ask for customer testimonials Respond to customer questions Respond to customer complaints Share links to FAQs Respond to customer compliments Respond to customer feedback Crowdsource content from customers 34
- 36. Applications for Marketing 2. Lead Generation Link back to your web/landing page for conversion Blog about helpful information Promote a strong call to action Create a Community Share peer referrals Promote offers Optimize site and blog for mobile viewers Start a LinkedIn group 35
- 37. Applications for Marketing 5. SEO and Online Visibility Include key phrases in your Tweets Link to your blog from Facebook Ask followers to link to your website Use keywords on your LinkedIn company page Include keywords in your blog post headlines and body Tag and name your images Categorize and tag your blog with key phrases Share ebooks using key phrases Upload videos to YouTube (2nd largest search engine) Encourage sharing with the G+ button on your web pages 36
- 38. Applications for Marketing 3. Product Development Join an existing forum Have influencers test your product Survey customers Share a limited time offer Announce products on your blog Create a Facebook poll Create a compelling Facebook app Blog about product updates Crowdsource ideas Create a forum 37
- 39. Applications for Marketing 4. Influencer Outreach Introduce yourself to influencers on Twitter Plan Tweetups at conferences Interview them on your blog Ask them for a guest blog post Plan a webinar around them Post their presentations to Slideshare Create a video interview Create a podcast interview Create a badge for them Link to their content 38
- 40. Get Strategic about Big Data 39
- 41. Key Principles 1. Engage with customers wherever they are 2. Make customer intelligence strategic 3. Focus on goals and filter out noise 4. Create usable and actionable views or data clusters 5. Act on the insights from data, not on intuition or experience 40
- 42. Technology is making it easier 41
- 43. Contextual Engagement in B2B 42
- 44. Steps to Context-driven Engagement eDynamic uses four steps to achieve multi-channel engagement that aligns with customer expectations and drives acquisition 1. Employ a closed-loop engagement cycle Build the profile, analyze the profile and respond to the prospect 2. Characterize prospect Properties include buying cycle state and segmentation parameters 3. Develop content to align with the prospect expectations Content will speak directly to a prospect profile 4. Automate the closed-loop prospect engagement Use web CMS and marketing automation platforms to automate the 43 engagement cycle
- 45. Using Buying Cycle to Define Engagement Use the buying cycle to understand how, when and with what to engage prospects at each step of buying process Understand your Segment your Map the Implement the Buying Cycle audience Messages Platforms Understand your buying cycle Understand your customer’s mindset through the buying cycle journey Segment your audience Determine the target groups within your audience Map the messages Understand and align the messages with the segment and their objections 44 Implement the platforms Implement the multi-channel platforms
- 46. It’s about the Customer’s Journey Interest Learn Evaluate Justify Purchase Solutions Evaluated Validate Active Search Begins Solutions Identified Against Needs Decision Made Review or get admin to Actions look at product on website Compare against current and Peer/Association Web Search and collateral. Buying Process competitive products/services endorsements Ask Personal/Social Network. WIFM? Questions Do I really this? What is the cost (fees)? Who else like me is using Does it fit my business Can this replace my How long until I can get full use How much can I spend on this product? What type of needs? current service? of this service? this card? benefits is he/she seeing? Motivation Rewards, Business Rewards, Promotion, Relevance of Perks, Rewards Savings, Security, Service Confirmation of Perks Risk-free Trial s Success, Make life easy etc… (Added Value) No Time Points Pain Current process is very manual I have to work weekends 45 Data is not accurate Merchant Acceptance Merchant Acceptance Barriers T&Cs Supplier Coverage Tied to an existing card Migrating from Existing Personal Liability Is it worth switching Amex approval Process Migrating from Existing card, Linking Bank Credit History cards? card accounts
- 47. Leveraging Digital Platforms eDynamic uses four steps to achieve multi-channel engagement that aligns with customer expectations and drives acquisition 1. Employ a closed-loop engagement cycle Build the profile, analyze the profile and respond to the prospect 2. Characterize prospects with a profile Properties include buying cycle state and segmentation parameters 3. Develop content to align with the profiles Content will speak directly to a prospect profile 4. Automate the closed-loop prospect engagement 46 Use web CMS and marketing automation platforms to automate the engagement cycle
- 48. Leveraging Digital Platforms CMS + MAP + CRM + Context = Increased acquisition. It takes both platforms and approach to drive improved acquisition 1. Content Management (CMS): Supports personalized interactions on the web site 2. Marketing Automation Platform (MAP): Supports personalized interactions via outbound digital channels 3. Customer Relationship Management (CRM): Supports personalized interactions involving members of the sales team 4. Integration and Mapping: Integrating the three systems to create centralized buyer profiles that could then be mapped to a defined buying process 47 5. Measurement and Reporting: Implementing the Reporting and Analytics tools necessary to support ongoing performance measurement and management
- 49. The Trifecta for Richer Engagement This Unified Customer Engagement Platform delivers an experience based on a common customer context Web CMS Common Customer Context Marketing Automation CRM with 48 Analytics
- 50. Assemble and Automate Campaigns Welcome campaigns > Follow-up Campaigns > Sales Accelerator Campaigns > Objection Campaigns > Inactive re-engagement Campaigns 49
- 51. eDynamic’s Unified Engagement Platform Delivering context-driven, multi-channel experiences across the buying cycle requires a unified engagement platform 50
- 52. Questions? 51
- 53. Contact Us Shawn De Souza shawn.desouza@edynamic.net http://demandgeneration.edynamic.net http://cms.edynamic.net 52
- 54. Thank You 53
Hinweis der Redaktion
- We work with marketing to understand their needs—translate that into technology
- How much information is there in the world? As of 2012, about 2.5 exabytes of data are created each day. 1 exabyte is a billion gigabytes or a million terabytes.University of Southern California researchers calculated that the world has access to enough data-storage capacity to hold 295 exabytes (295 followed by 20 zeros) of information.There are reports aplenty about technology driving a data explosion. University of Southern California researchers actually sat down and calculated that humans can store, communicate and compute about 295 exabytes of information, or about 404 billion CDs.
- How much information is there in the world? As of 2012, about 2.5 exabytes of data are created each day. 1 exabyte is a billion gigabytes or a million terabytes.University of Southern California researchers calculated that the world has access to enough data-storage capacity to hold 295 exabytes (295 followed by 20 zeros) of information.There are reports aplenty about technology driving a data explosion. University of Southern California researchers actually sat down and calculated that humans can store, communicate and compute about 295 exabytes of information, or about 404 billion CDs.
- The growth of social networks for business. Social networking account for 22% of all time spent online. Real business is taking place today in public and private social networks. It has moved far beyond using LinkedIn for recruiting, or Facebook for consumer marketing outreach. The benefits accrue quickly from being able to communicate and collaborate easily with extended networks of employees, partners, customers, across internal and external social networks.The ascendency of mobile computing. By the end of 2011, more smartphones shipped than PCs.. And Apple sold more iOS devices in 2011 than they sold Macs in 28 years. “Bring your own device” (BYOD) to work is an undeniable trend in the workplace, bringing freedom and convenience for users, but headaches for IT. Users want to interact anytime, anywhere, with localized, contextual content. And they aren’t afraid to sidestep IT if they don’t get the access they want. IT can try to ban access, but more often than not, needs to rethink their approach to mobile and secure those mobile devices to minimize risks from loss, theft or misuse.The continued rise of Cloud computing. With Forrester alone estimating enterprise cloud computing to grow to over $240 billion by 2020. It’s hard to find ANY current IT project today not considering cloud-based deployments. The conversation is no longer one of outright rejection due to security and quality-of-service concerns. Instead, the discussion is about the right mix of capabilities for the business. What should be delivered by cloud vs. on premises? How do I ensure new services are integrated with the solutions I already have in place? What’s the right policy and governance model I should be looking for from my cloud services providers? What level of customization do I really need, and how much standardization can I get away with? Despite cloud’s increasing sophistication and security in applications, information stores, transaction processing, or even analytics, critical questions still remain. The availability of information, which drives social, mobile and cloud technologies, is the connective tissue in this "nexus of forces."Gartner"In the nexus of forces, information is the context for delivering enhanced social and mobile experiences," Chris Howard, managing vice president at Gartner, explained in the report. "Mobile devices are a platform for effective social networking and new ways of work. Social links people to their work and each other in new and unexpected ways. Cloud enables delivery of information and functionality to users and systems. These forces of the Nexus are intertwined to create a user-driven ecosystem of modern computing."
- Volume. As of 2012, about 2.5 exabytes of data are created each day, and that number is doubling every 40 months or so. More data cross the internet every second than were stored in the entire internet just 20 years ago. This gives companies an opportunity to work with many petabyes of data in a single data set—and not just from the internet. For instance, it is estimated that Walmart collects more than 2.5 petabytes of data every hour from its customer transactions. A petabyte is one quadrillion bytes, or the equivalent of about 20 million filing cabinets’ worth of text. An exabyte is 1,000 times that amount, or one billion gigabytes.
- For many applications, the speed of data creation is even more important than the volume. Real-time or nearly real-time information makes it possible for a company to be much more agile than its competitors. For instance, our colleague Alex “Sandy” Pentland and his group at the MIT Media Lab used location data from mobile phones to infer how many people were in Macy’s parking lots on Black Friday—the start of the Christmas shopping season in the United States. This made it possible to estimate the retailer’s sales on that critical day even before Macy’s itself had recorded those sales. Rapid insights like that can provide an obvious competitive advantage to Wall Street analysts and Main Street managers.
- As more and more business activity is digitized, new sources of information and ever-cheaper equipment combine to bring us into a new era: one in which large amounts of digital information exist on virtually any topic of interest to a business. Mobile phones, online shopping, social networks, electronic communication, GPS, and instrumented machinery all produce torrents of data as a by-product of their ordinary operations. Each of us is now a walking data generator. The data available are often unstructured—not organized in a database—and unwieldy, but there’s a huge amount of signal in the noise, simply waiting to be released. Analytics brought rigorous techniques to decision making; big data is at once simpler and more powerful. As Google’s director of research, Peter Norvig, puts it: “We don’t have better algorithms. We just have more data.”
- Customers and Prospects
- 1. Use All Forms Of Customer EngagementBy customers, we mean prospects and your buying customers. Customer engagements, or interactions, are critical to the marketer from a segmentation and buying-behavior perspective. But accessing, using, and acting on that data can be daunting in today’s marketing automation systems.To tap into all forms of customer engagement--online and offline, across any marketing channel--a purpose-built marketing data mart, integrated with your marketing and campaign platform, is required to bring together all of your customer interactions and purchasing history to make the data actionable.2. Make Customer Intelligence StrategicMost marketers want more customer intelligence, but they’re not sure how to get started with the avalanche of customer data that exists today. Marketing automation and campaign management provides various ways to measure campaign performance through reports and dashboards. But what about customer intelligence that really looks into buying behavior?For example, what if you could perform a buy-cycle analysis, identifying the behaviors of prospects at the buying stage with the kinds of online and offline channels that most correlate to the receiving the types of information they need to move onto the next stage?Customer-intelligence capabilities provide a holistic view of prospects and customers, including: Profiling results by campaign and customer attributes Identifying opportunities based on the level of risk and reward Using new forms of interactive reporting and data discovery, based on campaign performance and interaction historyUsing a marketing data mart with customer-intelligence tools specific to your customer-interaction history turns your marketing-automation platform into a driver of revenue performance.3. Transform Big DataEveryone works to clean their data, but it’s not just about deduplication or merge and purge. Beyond your marketing-automation and campaign-management platforms, more needs to be done to transform data to make it truly usable and actionable, including: Using data libraries to clean and validate data Decoding raw incoming data to improve its usability Using derived attributes based on complex relationships within the data that enable you to more rapidly discover buying behavior to use directly in campaigns driven by your platform Creating a quarantine around incomplete data until it is ready for use
- To understand whom we should target, let’s take a step back and try to understand the mechanics of Twitter. A user – let’s call him Joe – follows a set of people, and has a set of followers. When Joe sends an update out, that update is seen by all of his followers. Joe can also retweet other users’ updates. A retweet is a repost of an update, much like you might forward an email. If Joe sees a tweet from Sue, and retweets it, all of Joe’s followers see Sue’s tweet, even if they don’t follow Sue. Through retweets, messages can get passed much further than just the followers of the person who sent the original tweet. Knowing that, we can try to engage users whose updates tend to generate lots of retweets. Since Twitter tracks retweet counts for all tweets, we can find the users we’re looking for by analyzing Twitter data. Marketing automation vendors are adding a lot of functionality to help marketers address this data explosion. This includes big data analytics, attribution modeling, integrated social analytics, and spend management. Helpful automation technology will condense the data into actionable "views" so that you can use it to make decisions about future messaging. If the data analytics can be done at the customer level (which is unfortunately not universal yet), then marketers can integrate it directly with the CRM or marketing database in order to optimize offer placement in real time. That is where the real power of automation comes in - we want to use all the data available to make meaningful connections with customers when they are in market to receive the message. Oh, and to make that connection on the proper device or channel, too!However, this data management challenge is not just a technology challenge. Organizations need people with the skills to translate that jumble of information into meaningful insight and real business value. We've heard a lot about the "data scientist" role, and it's becoming more and more real every day for more and more marketers.
- Content Management (CMS): Implementing a content management system to support personalized interactions on the company's Web site.Customer Relationship Management (CRM) : Upgrading the existing CRM system to support personalized interactions involving members of the sales team.Marketing Automation (MA) : Upgrading the marketing automation system (Eloqua) to support personalized interactions via email and other digital channels.Integration and Mapping : Integrating the three systems -- customer relationship management,marketing automation, and content management -- to create centralized buyer profiles that could then be mapped to a defined buying process.Measurement and Reporting : Implementing the dashboards and measurement tools necessary to support ongoing performance measurement and management.