Big Data and The Future of Insight - Future Foundation

INSERT IMAGEBig Data and The Future of InsightSummary slides

INSERT IMAGEPETABYTES FOR ALL:THE BIG DATA BACK-STORYGeorgina Sapsted, Leader of Quantitative Analysis

3Source: Google Trends (www.google.com/trends)/nVision | Base: UK (English speakers), March 2014

Data Analysis: long-lived 20

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100 100 = Peak searchesSearches for "data mining"Searches for "big data"

B I G D A T AA N A L Y S I S

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VARIETY VELOCITY

VOLUME

VALUE

The 3 V’s

What makes BIG Data different?

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80% of big data is raw and unstructured

DATAFICATION

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Predictive power

As long as some of tomorrow is contained in a measured part of today we can make predictions.

INSERT IMAGETHE BIG DATA EFFECT ON PREVAILING SOCIO-ECONOMIC TRENDSDom Harrison,Director, Global Trends

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Retail Reloaded1

9Image: Shoppertrak

datafied storesThe promise of

10Source: Apotek

responsive spacesThe promise of

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super serviceThe promise of

Photo © Virgin Atlantic

12Image: Advanced Institute of Industrial Technology in Tokyo 

After mobile:New means of identification

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Retail Reloaded: the Big Data impact

Retail space, messaging, service:all substantially impacted

Connected devices: personal data passports and unique identifiers

Info security, limits to personalised messaging, service etiquette: barriers

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Society of Sobriety2

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Favouring restraint, celebrating control

Source: nVision Research, 2014 US

“I have consciously made an effort to reduce the

amount of alcohol I drink” each week”51% of US 21-24 year olds

agree

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EDIT1 in 6 GB respondents born after 1981 use personal

health tracking apps

Source: nVision Research, 2014 GBPhoto © Future Foundation

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Society of Sobriety: the Big Data impact

Datafication of the entire human experience

Targeted messaging, incentives and rewards

Intensifying pressure on categories with an indulgence component

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Murdered by Modernity3

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Memory Skill accumulation (language, directions) Free choiceAdventure and discoveryPrivacy“Ignorance is bliss”The presumption of innocenceThe old-school football manager

Big Data: accelerating the end of…?

20Source: Google Trends (www.google.com/trends)/nVision | Base: Worldwide (English speakers), 2014

The nascent response: Searching for the deep web

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100 Searches for "Tor browser" (100 = peak searches)Trendline

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Murdered by Modernity: Big Data impact

Wholesale rejection of precision marketing?

A growing need for Big Data CSR

Can Big Data re-create old-fashioned service?

INSERT IMAGETHE BIG DATA BIOPSYJames Murphy, Editorial Director

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Does the regulator pack any punch at all?

“We are undergoing a revolution...

The immense volume, diversity and potential value of data...

The working group will consider all these issues...”

John Podesta, White HouseBig Data Review Leader

Jan 2014

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Big Data: business partner of insight?

“Overwhelmingly, respondents are

positive about the need to travel for

business. Over half (55%) find business

trips interesting, 36% find them enjoyable

and 17% say business travel is motivating.”

Amadeus Business Travel Survey 2014

Sample size: 411 Regular Business Travellers in the UK and Ireland

Big Data + Soft Power =

Super-Smart Insight?

INSERT IMAGE

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In a short while from now…

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In our jobs, we will all be using Big Data apps in the way we all use Excel today.

Marketing will work in real-time just as in-store sales

and inventory management have always done.

Data Science guzzles the budgets and pressures

conventional techniques to justify themselves.

We see: The rise of the Soft Woo + Anticipatory Service Propositions

Insight will re-skill itself and de-IT Big Data.

Big Data will amplify the claim that it can reduce headcount in

every sector.

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1 | In our Big Data future, the marketing and insight community can – without loss – pay much less attention to consumer motive. Research budgets can be shrunk accordingly.

2 | Mass marketing is progressively replaced by commercial messages which are unique, focused, personal.

3 | Big Data will stimulate ever more consumerist agitation to the point of legitimising/accelerating legal restraints on practitioners.

4 | Big Data will perfect new product development and minimise R&D losses.

Big Data: the Big Four Claims

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1 | Big Data is a genuine revolution. But even as its efficiencies universalise so brands have to find new creativities in order to compete. Therefore insight redux!

2 | Personalised marketing has its limits, its costs. The customer may revolt against intrusiveness. But, more worryingly, she simply may not respond to precision-bombing, however sophisticated. Something extra required.

3 | Neither political regulation nor populist agitation can suppress Big Data or its commercial applications.

4 | Big Data cannot guarantee success for creative ideas – but can guide insight to maximised tactical advantage.

Big Four Claims: our summary view

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