Learnings from BCAMA’s Utilizing Big Data to Your Advantage

4/20/2013   By: Lux Insights

By Carmen Chang

“Big data” seems to be a hot buzz word these days.  With 2.5 quintillion bytes of data created daily, and all of it captured somewhere, it’s no wonder why big data is garnering a lot of attention
IBM: http://www-01.ibm.com/software/data/bigdata/.

To stay on top of this trend, Hanson and Carmen attended BCAMA’s Utilizing Big Data to Your Advantage breakfast to learn from speakers Jonathan Flander (Vice President, Global Data Strategy at Wunderman) and Jesse Gross (Vice President of Analytics at Semphonic).

All of the speakers agreed that what’s important about big data is not actually the data itself nor the technology used to gather that data. Instead, what’s critical are the outcomes and insights a company wishes to gain, and the decisions the company needs to make based on that information. In other words, do not collect data for the sake of having “big data” – instead, focus on what critical business problems need to be answered and let that guide the data collected and analyzed.

The same is true for market research – the key for any project is to focus on the business objectives first, and let that guide the approach, questions and outcomes.

Big data is a reality of the information age we live in. Luckily, the same technology that has created this explosion of information also arms us with the tools to understand and harness it. Big data isn’t just for big businesses anymore.

Contact us with any questions about how we can help you gain insights from your big data.