Contemporary Analysis

Data Science

Grant Stanley

New Pew Survey on Big Data | Big Data is the new Oil | 'Minority Report' software hits the real world

Why data trumps experience in trial conversion: "Using predictive analytics to qualify trial users and focus on those that are most likely to convert can double conversion rates. In a 2012 study, the Aberdeen Group published a finding that companies using predictive analytics have a 73% sales lift versus companies that did not. ... Publishers should use predictive analytics to develop trial scoring rules. These scoring rules can constantly prioritize trials in their likeliness to convert which increases close rates and sales productivity. These same predictive analytics are useful in design of trial parameters such as length and access limits." (Business Insider) http://goo.gl/6P95I

Connect Big Data With Customer Behavior to Improve Social, Email, and Web ROI: "Since we have lots of data, we have lots of integration challenges. ... Mastering that flow of data between the places that generate it (click-stream, communities, sentiment analysis, email and SMS messaging, and portals) and the systems that utilize it (marketing automation, messaging delivery, and social publishing) is creating complexity, as well as opportunity."

-- "Start with small projects that use the data you have today more efficiently, earn some results, and then show how this could earn or save money as part of a larger analytics approach. Having taken this approach with a few marketers, I know it works, but beware: it definitely requires a willingness to be in it for the long haul." (Click Z) http://goo.gl/jhGBX

Is 'Big Data' good or evil? Pew survey exposes growing debate: "A majority, 53%, felt positive about the enhanced capabilities Big Data would deliver, agreeing with the statement that “human and machine analysis of large data sets will improve social, political, and economic intelligence by 2020. ... There’s another 39% of internet experts who express concern. They agreed with the counter-argument to Big Data’s benefits, which posited that “Human and machine analysis of Big Data will cause more problems than it solves by 2020."

-- "As one of the study’s participants, entrepreneur Bryan Trogdon put it: 'Big Data is the new oil,' observing that 'the companies, governments, and organizations that are able to mine this resource will have an enormous advantage over those that don’t. With speed, agility, and innovation determining the winners and losers, Big Data allows us to move from a mindset of ‘measure twice, cut once’ to one of ‘place small bets fast.’” (By Joe McKendrick @ Smart Planet) http://goo.gl/N4XRD

"In a recent survey by Oracle of 300 executives, nearly a third – 29% – of respondents graded their current Big Data management and analytic capabilities as D or F. Nearly all respondents – 93% – agreed with the statement that their organization was leaving revenue on the table by not doing a better job of leveraging Big Data." (Service Angle) http://goo.gl/mfUFS 

New 'Ethical Analytics' program launched: "... a press release from Hunton & Williams' Centre for Information Policy Leadership ... has launched a new multi-industry 'Ethical Analytics' program 'to highlight the benefits and directly address the risks raised by analytics in the age of big data by developing voluntary guidelines for their responsible use by organizations.' ... The organization's overall agenda is to collaborate with industry leaders, consumer organizations, and government representatives, the firm explains, and to develop 'information policy that fosters privacy and information security, while balancing economic and societal interests...'" (By Monica Bay @ Law.com) http://goo.gl/J7b7o

'Minority Report' software hits the real world: "The software behind the film "Minority Report" -- where Tom Cruise speeds through video on a large screen using only hand gestures -- is making its way into the real world."

-- "The interface developed by scientist John Underkoffler has been commercialized by the Los Angeles firm Oblong Industries as a way to sift through massive amounts of video and other data. ... A key part of the system is the gesture interface, which the company calls the "g-speak" spatial operating environment." (AFP) http://goo.gl/rDBWI

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