A Presenta*on from Big Data 22 February 2013 Does Big Data = Big Insight? All copyright owned by The Future Place and the presenters of the material For more informa:on about NewMR events visit NewMR.org Colin Strong GfK
1. APresenta*onfrom BigData 22February2013 Does Big Data = Big
Insight?
AllcopyrightownedbyTheFuturePlaceandthepresentersofthematerial
Formoreinforma:onaboutNewMReventsvisitNewMR.org ColinStrong
GfK
2. Colin Strong, GfK, UK Big Data, 22 February 2013 Does Big
Data = Big Insight? Colin Strong MD Technology GfK UK
3. Colin Strong, GfK, UK Big Data, 22 February 2013 Big Datas
meteoric rise Internet of things growing availability of Big Data
Expectations of Big Data high twice as likely to substantially
outperform their industry peers big data expected to improve
organisational performance by 41% over the next three years Should
we be sceptical? Does Big Data always work?
4. Colin Strong, GfK, UK Big Data, 22 February 2013 Big Data
Assumptions Big Data reflects our inner lives We only need to
observe to understand Big Data remains inside the firewall The
individual is the only valid unit of measurement
5. Colin Strong, GfK, UK Big Data, 22 February 2013 The
pitfalls John Ioannidis: Most published research findings are false
HBR: Theres an odds-on chance that someone in your organization is
making a poor decision on the basis of information that was
enormously expensive to collect Nate Silver: Our predictions may be
more prone to failure in the era of Big Data
6. Colin Strong, GfK, UK Big Data, 22 February 2013 Think like
a Bayesian Take into account the context through prior probability
Consider for level of false positives Probabilistic outcomes
Integrate multiple data sources
7. Colin Strong, GfK, UK Big Data, 22 February 2013 How to do
the numbers: Priorprobability Ini:ales:mateofservicebeingsuccessful
X 4% Newinforma*onisdelivered:
Consumersurveyindicates50%considerservicewillbe success Y 50%
Probabilityofsurveyincorrectlyindica:ngsuccess Z 5%
Posteriorprobability Revisedes:mateoflikelihoodofsuccess xy
Xy+z(1-x) 29%
8. Colin Strong, GfK, UK Big Data, 22 February 2013 A manifesto
for Smart Data
9. Colin Strong, GfK, UK Big Data, 22 February 2013 1:
Individual case study Use digital data to collect information
concerning online behavior Integrate this with survey data to
understand the why Used successfully in purchase journey
analysis
10. Colin Strong, GfK, UK Big Data, 22 February 2013 2: Segment
case study Conducted segmentation of BT prospects database Overlaid
this with database of new customers Integrated with the tracking
studies to model the segmentation onto survey data Created a
propensity model to facilitate targeting
11. Colin Strong, GfK, UK Big Data, 22 February 2013 3: Social
case study Big Data allows us to start exploring relationships
between individuals Allows us to start exploring different types of
real-life social networks that have proved elusive Big Data provide
us with tools that help us to understand the way in which these
work More generally allows us to build our understanding of complex
systems
12. Colin Strong, GfK, UK Big Data, 22 February 2013 4:
Cultural analytics Analysis of massive cultural data sets and flows
Publically accessible data sets increasingly digitised allowing
much more access and analysis Ngram a leading tool, groups
experiementing with images Exploring ways in which we can access
flows of images GfK Visual Survey of Domestic Space 12 country,
relational database of 18,000 photos
13. Colin Strong, GfK, UK Big Data, 22 February 2013 Thank you
Colin Strong Twitter: @colinstrong Personal blog:
www.colinstrong.net
14. Colin Strong, GfK, UK Big Data, 22 February 2013 Q & A
ColinStrong GfK RayPoynter VisionCri:calUniversity