big data: metrics, myths, and power
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Big Data...it's on everyone's lips, recently. It’s caught the attention of everyone from C-level executives to database administrators. What is it really? What does it mean that every day 2.5 billion gigabytes of high-velocity data are created in a variety of forms, such as information gathered in sensors and medical devices, and transaction records? What are executives hoping to find in the mountain of data? What can content professionals learn from the reality and mystique of Big Data? Big data can address a multitude of problems if you know how to use it: help organizations deepen customer engagement, optimize operations, prevent threats and fraud, and capitalize on new sources of revenue. It has the potential to help those of us concerned about content to determine how impactful that content really is. Join Jennifer to learn about the characteristics of big data, it’s potential for content professionals, and how it fits into the large picture of metrics, myths, and power. By Jennifer FellTRANSCRIPT
Big Data: Metrics, Myths, PowerJennifer A. FellTechnical Content StrategistExpert Support, [email protected]
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“Big data is the electricity of the 21st century—a new kind of power that transforms everything it touches in business, government, and private life.” - Paul Sonderegger, Oracle Big Data Strategist
“A Revolution That Will Transform How We Live, Work, and Think.” - Viktor Mayer-Schonberg, Kenneth Cukier
“[the Big Data Era] will bring the biggest opportunity for companies and individuals in technology since the dawn of the Internet.” - Rob Thomas, IBM Vice President, Business Development
Business
Content
Data
Why me?
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Our time together Big Data: What is it? Why does it matter?
Big Data: What does it mean for content professionals?
Metrics and Power: Words to the wise
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What is Big Data? The Four V’s Volume Variety Velocity Veracity (Variability)
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Why businesses (executives) care
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The promise“Simply put, because of big data, managers can measure, and hence know,* radically more about their businesses, and directly translate that knowledge
into improved decision making and performance.”
Big Data: The Management Revolution by Andrew McAfee and Erik Brynjolfsson
11* JFELL: Really?
The potential
12Source: McKinsey Global Institute
It’s beginning to happen Sensors everywhere
Neonatal intensive care
Railroad carsFood productsPerimeters of secure facilities
Mobile phones
Social media posts combined with other data
Location information to push location-dependent offers
Transaction history to
predict and prevent customer churn
13Social connections: “If one person defects from a product or service, other people with social connections to that customer may also do so.” (Forrester)
The voice of the customer
Old: siloed“Definitions centered around Customer surveysFocus groups, andOther forms of market research”
New: comprehensive
“The complete understanding of customer opinions and sentiment attached to your brand, products and services, regardless of channel or touchpoint”
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“Understanding the Voice of the Customer,” HP Autonomy
What can we learn about our contentReal-world, real-time experiences of “unobserved” usersHolistic view: Sentiment combined with actionsCross-business correlations Case study by Andrea Ames at IBM: Does content increase the perception of IBM
as a thought leader in Big Data?15
Entry points for content teams1.Choose a small, specific question2.Set up the tracking elements that you need. Ex: Twitter acct
3.Prototype with standard analytic tools and approaches
Google search results and analyticsTwitter Facebook1.Iterate2.Find out who’s working with Big Data in your organization 16
Metrics, content, and power Metrics have power.
Metrics transform opinion into fact and reduce emotion in decision-making
Give the right power to the right person or team. Different metrics based on level of an organization, functional
groups Measure the things that matter. Prove value. Have a closed-loop metrics process. Be realistic. Big Data isn’t always hard data.
17Summarized from the workshop “Creating a content strategy ecosystem” by Ames and Riley.
Call to action: Part 1
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“Big data is out there. The trick is finding ways to
make it work for your company.”
- Adi Ignatius, Editor in Chief, Harvard Business Review
Call to action: Part 2
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Thank youJennifer A. FellTechnical Content StrategistExpert Support, [email protected]@jenniferfell www.linkedin.com/in/jenniferfell
Acknowledgements and Thanks
Andrea Ames Content Experience
Strategist/Architect/Designer
IBM @aames Alyson Riley Content Strategist IBM @ak_riley
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