Over the past couple of years Big Data has been a topic that’s been gaining momentum in organizations, consultancies and ad agencies and they’ve all been struggling to work out a strategy of how to deal with it.
I’ve spent the last 15-plus years wrestling Big Data, driving analysis and formulating insights that lead to strategies to help grow business. Now more than ever I find the world to be more confused about what to do with data than ever before. The curveball that has hit people has been the rise of web and social activity by customers, communities and businesses.
In a recent study it’s found that 64 per cent of organisations have invested in big data or plan to do so and 55 per cent say that they are doing so create “enhanced customer experience.” Some 70 per cent of data being analyzed is transactions followed by log data at 55 per cent. Wait. Is that new? Not really. Transactional data has been analysed for well over 25 years. What this says to me is that organizations are still struggling with the basics and are now trying to jump into the deep end.