Will 2012 be the year of “Big Data”?
Posted by joeHuman beings are actually not very rational decision makers — there is a great deal of evidence to that effect. We are subject to predictable biases. Increased computing power and better databases are allowing companies to use analytics and make better (unbiased) decisions. This is sparking the rise of new companies that can analyze data and some new applications. You can read more in “So, What’s Your Algorithm?” (Wall Street Journal, January 4, 2011 – non-subscribers may need to click here).
Read this article and think about how other firms (beyond the Schwan’s example in the article) could use “big data” to make better marketing decisions? Also, how do you think trends like this will impact your future career — answer by referencing your career?
Tags: CRM
This entry was posted on Monday, January 9th, 2012 at 5:18 pm and is filed under Market Research, Personal marketing plan. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
Company’s are now going from targeting a demographic to target a singal person. Now this is where facebook can really come into play and sell so much infromation on how that person is changing their buying habbits as they get older. From a company’s point of veiw this is great infromation to have to come up with a new vision if needed. Because of the amount of data given right now only large company’s can ulize this. Now looking at this from a personal view point it is scary. In many ways as technology grows our freedoms shrink.
January 30th, 2012 at 11:04 pm