Making Sense of Big Data For Companies of Any Size AMA Iowa Experience Event February 5, 2016
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Making Sense of Big Data
For Companies of Any Size
AMA IowaExperience Event
February 5, 2016
Moderator Tamara KenworthyOn Point Strategies
PANELISTSKristi Gale
NCMICAdam Soyer
DoextraAntonio Lora
Meredith
What is Big Data?
Massive amounts of structured and unstructured data
collected over time that are difficult to analyze and
handle using common database management tools –
yet has the potential to be mined for information.
Big Data analytics breaks down the data sets into
smaller chunks for efficient processing and employs
parallel computing to derive intelligence for effective
decision-making.
Business Transactions Email Activity Logs Research
Surveillance Videos Blogs Social Media
Machine-generated
data
Sensors And More
Structured & Unstructured Data
Big Data Characteristics
Volume Variety
Velocity Variability
Veracity
Why it Matters?
To take action with the data
Leading to better decisions and
strategic business moves
And doing so quickly
Leverage Big Data
• Creating transparency• Enabling experimentation• Segmenting population to customize actions• Replacing/supporting human decision making with
automated algorithms• Innovating new business models, products and services• Organizations can analyze far more data
Benefits of Big Data~ Marketing Related ~• Target Marketing• Cross-Selling• Sales Analysis and Forecasting• Market Basket Analysis• Promotion Analysis• Customer Retention and Churn• Profitability Analysis• Customer Value Measurement• Product Bundle
How to start?
• Find a good partner
• Select the right business problem
• Make sure data is available
• Understand (be part of) the process
• Test it !
• Institutionalize the process
Things to Avoid
• Working with the wrong SME
• Spending too much time on research
• Using Capex vs. Opex
• Not failing fast enough
• Not partnering with IT
• Not supporting real decisions
• Lack of internal PR
Resources• B2E Direct Marketing• Doextra CRM Solutions• InfoGroup• Zirous, Inc.
Tools• Alteryx – analytics platform,
data blending• Microsoft Power BI – data
visualization• Qlik – data visualization• Tableau – data visualization
We are not endorsing specific resources or tools. We aresharing a list of resources that you may wish to explore.
New organization in Iowa: Analytics Leadership CouncilContact: Bill Adamowski, Director of Innovation and Entrepreneurship, Iowa State University
Q&A
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