INSERT IMAGE Big Data and The Future of Insight Summary slides
Big Data and The Future of Insight - Future Foundation
Aug 23, 2014
As Big Data sweeps through consumer-facing businesses, we ask:
- If Big Data is truly a revolution, then what (and whom) will it eliminate or elevate?
- What value will still be derived from conventional market research and brand-building techniques?
- If every brand is backed by Big Data, can every brand prosper?
For more information please contact [email protected] or visit www.futurefoundation.net
- If Big Data is truly a revolution, then what (and whom) will it eliminate or elevate?
- What value will still be derived from conventional market research and brand-building techniques?
- If every brand is backed by Big Data, can every brand prosper?
For more information please contact [email protected] or visit www.futurefoundation.net
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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
B I G D A T AA N A L Y S I S
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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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