The Four Most Popular Big Data Questions
[ReBlog from Greg Mishkin, VP of Research and Consulting at Market Strategies]
Two thousand and thirteen was the year of Big Data, although not always in a good way. We saw some of the largest privacy breaches in history affect major brands like Target, Facebook and Adobe, as well as government-related snafus (Edward Snowden, the NSA and the Federal Reserve Bank) impact hundreds of millions of people. The public now understands that we are leaving a data trace with every cell phone call we make, website we browse, debit card we swipe and security camera we pass. No matter where you stand on whether our data are being used responsibly, one thing is absolutely clear…
Big Data is everywhere.
In addition to what we leave behind, we willingly offer our data in exchange for valuable benefits:
- We pay up to $100 to give the government detailed personal information in exchange for faster access through TSA PreCheck lines at the nation’s airports.
- We install connected thermostats that know when we are home, away and asleep, enabling companies to learn about our daily routines.
- We wear devices like Google Glass and Fitbit to track and share our activity with friends.
- And don’t even get me started on Facebook, Twitter, LinkedIn, Pinterest, Flickr, etc.
With this trend comes an insatiable demand for Big Data analytics. Marketing research used to focus on asking people how satisfied they are with a service or whether they prefer product A or product B. But businesses want to know more about their customers than what they are willing or able to reveal in a survey. Today, businesses want to predict the future, and they are turning to Big Data to feed a new breed of predictive analytics. Here are a few of the questions I hear most frequently from clients…
Q: What is Big Data in simple terms?
Q: If my company is just starting to consider using Big Data in our marketing research, what would be most useful to include?
Q: What about privacy? Are we even allowed to use the data we collect from our customers?
Q. Will Big Data replace surveys?
Answer these questions and more in the full post from Greg Mishkin
Mitch is a jack of all trades at watchLAB, tackling projects from Marketing, Media, Design, and Qualitative Research Moderating with a focus on consumer electronics.
Latest posts by Mitch Clark (see all)
When did everyone start trying to differentiate their company by selling “our 12 step respondent validation process?” I know that we here at watchLAB certainly talk to our clients about it. But it’s just way too close to bragging about how you keep the least amount of cockroaches in your kitchen. I’ve worked in facilities…
#MRX is watchLAB's weekly round up of some of the best Market Research posts from around the twitter-sphere. Add #MRX to your Market Research tweets to be considered for next week's round up. Why brands should listen when their customers disagree: Can your brand afford not to take action when... http://t.co/o83gOiV4wV #MRX #VC — Annie…
#MRX is watchLAB’s weekly round up of some of the best Marketing Research posts from around the twitter-sphere. Add #MRX to your Marketing Research tweets to be considered for next week’s round up. The Golden Rule of Qual Before Quant Explained in 4 Points
http://t.co/Oxa3Q7KK76 #mrx @gwkuhn3 pic.twitter.com/1gqpea7ex8— MRA (@MRAmrx) May 19, 2015 #MRX: Target’s lesson…