1. 1. APresenta*onfrom BigData 22February2013 Does Big Data = Big Insight? AllcopyrightownedbyTheFuturePlaceandthepresentersofthematerial Formoreinforma:onaboutNewMReventsvisitNewMR.org ColinStrong GfK
2. 2. Colin Strong, GfK, UK Big Data, 22 February 2013 Does Big Data = Big Insight? Colin Strong MD Technology GfK UK
3. 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. 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. 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. 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. 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. 8. Colin Strong, GfK, UK Big Data, 22 February 2013 A manifesto for Smart Data
9. 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. 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. 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. 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. 13. Colin Strong, GfK, UK Big Data, 22 February 2013 Thank you Colin Strong Twitter: @colinstrong Personal blog: www.colinstrong.net
14. 14. Colin Strong, GfK, UK Big Data, 22 February 2013 Q & A ColinStrong GfK RayPoynter VisionCri:calUniversity