“A good decision is based on knowledge and not on numbers.”
Plato
In our marketing community, we have been debating on Big Data for years and years. Most often not really knowing what they are all about. I have been in so many meetings in which the topic was “What are going to do about our Big Data?”. The inevitable answer was “Let’s create a Data Science Team” that – at least in the corporate cultures I have experienced - was the way to avoid to face the issue directly. There is a Team in charge now…
This book has been a pleasant surprise. Easy to read, with a clear structure to explain a quite complex topic, a 100% focus on the practical contribution of Big Data in developing businesses and organizations, presenting 45 very interesting case histories! A rare beast in a sea of publications that makes Big Data looking like an esoteric matter for a little group of experts.
The first interesting insight is that many organizations have finally steadily moved to the next stage from creating the “Big Data Infostructure”. This has been the Golden Mine of big consultancies for years, but now it seems that the focus is more around “how we are going to use these data” more than “how we are organizing them”. Massive step forward, in my experience.
Therefore, for businesses working with right people is key. And it not only about being a “Data Guru”, but understanding what Big Data mean for businesses and tailor-made solutions based on that, more than trying to sell some sort of “Analytical Product” and then trying to retrofit the Client’s needs into this “Product”. I have experienced it myself several times and – in all honesty – it has always been a waste of time for everybody! So, starting from the Business and not the Data is crucial!
The author points out that Data Visualization is becoming more and more important. What is the point of creating massive Infostructures, an Army of data scientists and investing millions in accessing data sources if we are not able to quickly use these capabilities to take a decision? Ability to communicate easily what the implications are for a business/organizations are key here. And I believe in the future the focus will be more and more on this aspect.
In addition, in a world where Data are a Commodity, the power of Big Data is not only the exclusive field of global corporations, but it is potentially open to everybody. I liked a lot the case of Pendleton & Son Butchers – a local shop - using Big Data to face (and win) the challenge created by the opening of a supermarket in their street. I personally think that this “Democratic” aspect of Big Data is great!
Finally, a recurrent theme in the book is about predicting future behavior. Maybe one of the most disruptive trends in marketing, even if most of our community seems to be in a state of denial. But you just need to look at the Netflix case – with a segmentation made of ~80K customer clusters – to realize that things have changed quite dramatically. “Hypersonalization” is here to stay and we will have to quickly upgrade our marketing skills to live in a World with every person will have the right to be targeted with a Personal Marketing Plan!
Warmly recommended.
