Trending Now at SXSW: Are you Cutting Big Data Down to Size?
The concept of using big data to guide product road maps, create competitive advantage and inform content marketing isn’t new. In fact, Big data itself is just a relatively new phrase to describe a concept and practice that has been in use for years. But now, are agencies and brands fully leveraging big data to create successful programs?
The allure of big data is hard to overcome, but getting the most from consumer data is dependent on extracting truly usable pieces of small data to provide the insights needed to inform actions. Maria Bezaitis of Intel describes, for example, that “big data has to become small to be relevant.” Distilling big data to its essence – small packets of personal data collected from consumers – is critical for identifying needs, interested and wants. It’s this use of small data in conjunction with experience and instinct that is used for predictive models, strategic optimizations or product design.
Turning big data into small data is as easy as looking at existing, owned sources to distill the essence of consumer behaviors into trends and interests that are important to them. Chris Colborn of R/GA reminds us that insights must be provided from an objective viewpoint to discern real opportunities.