Last month I had the delight to be leading the Q&A at a gathering of 40 chief marketing officers and other big title-holders in Dubai. The premise for the gathering was an “uncomfortable breakfast”.
Now, if you’ve had breakfast at the Armani Hotel at the Burj Khalifa, it’s far from uncomfortable. But the topic was data-driven marketing. And that is pretty uncomfortable, especially since some of those present would have openly admitted they “know nothing” about data.
You see, that’s the problem: data is often unfairly awarded the epithet ‘big’.
It’s true that there is a lot of different sets of data in big business today. A company carries lots of data points that are easy to understand and use.
Sales data, web analytics, social media analytics, email databases, competitive research… and each of these sets tells a story. And the business analyses the story from a single data set, derives some insights and has a good idea how to do things differently.
Hopefully all companies can learn to conduct business differently over time. Mark Twain, Benjamin Franklin and Albert Einstein have all been attributed the adage, “insanity is doing the same thing over and over and expecting a different outcome.” Continue reading “Too much of an onus on big data?”