#FutureofData: Thinking Differently with Data

#FutureofData: Thinking Differently with Data

The future of datais an increasingly hot topic in the world of online marketing. With smarter analysis of your data, hidden insights can be found, which could give you a significant advantage over your competitors.
 
I have recently attended an event hosted by Google looking at the future of data (#futureofdata) and how your business organisation should start to be more data-centric.

Picked a great spot for #futureofdata seminar. pic.twitter.com/5bJb0yPGYQ
— Richard Linklater (@Rlinky) May 15, 2014

The digital landscape is rapidly changing which means online marketers are faced with an abundance of data from an ever expanding range of connected devices (For Example: In Car Technology).

Example of a Digital Marketing Map –

Source: http://www.gartner.com/technology/research/digital-marketing/transit-map.jsp
After seeing the digital marketing map you have the right to feel a bit disheartened. Many small to medium sized organisations simply don’t have the investment, technology, people or the time to focus on this big data analysis.
I would say simply “Don’t be!” It’s not about having massive amounts of data, it’s more about how you use the data you have.

“Don’t ignore what the data is telling you.” – @martinmcnulty #futureofdata #teamfod
— Richard Linklater (@Rlinky) May 15, 2014

You can approach your data using a more scientific approach by formulating hypotheses. Even if some of the analysis that has been carried out leads nowhere, it’s not a bad thing – it will eventually lead you towards new insights that you may have never considered. All of which should lead to something that is actionable – don’t waste time analysing data that could be interesting.

A Ted Talk by Philip Evans (How Data Will Transform Business) sums up how business strategy is changing and it starts with big data.

Are you using your data to be more innovate, optimise your customers experience and make smarter decisions?

 

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