![Page 1: The Value of Mining (Big) Data - Data-Driven Marketing Conference](https://reader034.vdocuments.mx/reader034/viewer/2022051818/549a4cb1b479594c4d8b58a9/html5/thumbnails/1.jpg)
The Value of Mining (Big) Data… Without Scaring Your Customers
Matthew Quint Director, Center on Global Brand Leadership Columbia Business School gsb.columbia.edu/globalbrands @mattquint Data Driven Marketing Conference – August 20, 2013 [NOTE: Images for Prof. Netzer, Everyday Health, The Weather Company, and Target, have hyperlinks to video talks on the topic!]
![Page 2: The Value of Mining (Big) Data - Data-Driven Marketing Conference](https://reader034.vdocuments.mx/reader034/viewer/2022051818/549a4cb1b479594c4d8b58a9/html5/thumbnails/2.jpg)
…and not everything that counts can be counted - Prof. William Bruce Cameron
Not everything that can be counted counts…
![Page 3: The Value of Mining (Big) Data - Data-Driven Marketing Conference](https://reader034.vdocuments.mx/reader034/viewer/2022051818/549a4cb1b479594c4d8b58a9/html5/thumbnails/3.jpg)
Data Bigger Data BIG Data
Small No integration Unit collected
Large Some integration Firm collected
Massive Heavy integration Firm and external
![Page 4: The Value of Mining (Big) Data - Data-Driven Marketing Conference](https://reader034.vdocuments.mx/reader034/viewer/2022051818/549a4cb1b479594c4d8b58a9/html5/thumbnails/4.jpg)
All marketers want to be DATA-DRIVEN
Believe successful brands use data to drive marketing decisions
91%
But many are NOT COLLECTING the data they need
say their own company’s data are collected too infrequently
39%
Marketing ROI in the Era of Big Data: 2012 BRITE-NYAMA Marketing Measurement in Transition Study David Rogers and Prof. Don Sexton, Columbia Business School
![Page 5: The Value of Mining (Big) Data - Data-Driven Marketing Conference](https://reader034.vdocuments.mx/reader034/viewer/2022051818/549a4cb1b479594c4d8b58a9/html5/thumbnails/5.jpg)
TOO LITTLE
TOO INFREQUENT
NOT SHARED
NOT SPECIFIC
DON’T PERSONALIZE
![Page 6: The Value of Mining (Big) Data - Data-Driven Marketing Conference](https://reader034.vdocuments.mx/reader034/viewer/2022051818/549a4cb1b479594c4d8b58a9/html5/thumbnails/6.jpg)
“The evidence is clear:
Data-driven decisions tend to be better decisions.
In sector after sector, companies that embrace this fact will pull away from their rivals.” - Erik Brynjolfsson and Andrew McAfee, MIT (Harvard Business Review)
![Page 7: The Value of Mining (Big) Data - Data-Driven Marketing Conference](https://reader034.vdocuments.mx/reader034/viewer/2022051818/549a4cb1b479594c4d8b58a9/html5/thumbnails/7.jpg)
Five key
CHALLENGES of (Big) Data
![Page 8: The Value of Mining (Big) Data - Data-Driven Marketing Conference](https://reader034.vdocuments.mx/reader034/viewer/2022051818/549a4cb1b479594c4d8b58a9/html5/thumbnails/8.jpg)
Everywhere
![Page 9: The Value of Mining (Big) Data - Data-Driven Marketing Conference](https://reader034.vdocuments.mx/reader034/viewer/2022051818/549a4cb1b479594c4d8b58a9/html5/thumbnails/9.jpg)
Unstructured
![Page 10: The Value of Mining (Big) Data - Data-Driven Marketing Conference](https://reader034.vdocuments.mx/reader034/viewer/2022051818/549a4cb1b479594c4d8b58a9/html5/thumbnails/10.jpg)
Needs cleaning
![Page 11: The Value of Mining (Big) Data - Data-Driven Marketing Conference](https://reader034.vdocuments.mx/reader034/viewer/2022051818/549a4cb1b479594c4d8b58a9/html5/thumbnails/11.jpg)
Storage and processing
![Page 12: The Value of Mining (Big) Data - Data-Driven Marketing Conference](https://reader034.vdocuments.mx/reader034/viewer/2022051818/549a4cb1b479594c4d8b58a9/html5/thumbnails/12.jpg)
Privacy and security
![Page 13: The Value of Mining (Big) Data - Data-Driven Marketing Conference](https://reader034.vdocuments.mx/reader034/viewer/2022051818/549a4cb1b479594c4d8b58a9/html5/thumbnails/13.jpg)
Case studies on
THE VALUE of (Big) Data
![Page 14: The Value of Mining (Big) Data - Data-Driven Marketing Conference](https://reader034.vdocuments.mx/reader034/viewer/2022051818/549a4cb1b479594c4d8b58a9/html5/thumbnails/14.jpg)
1. Gain insights on brands or consumers 2. Understand what messaging works 3. Better target your communications 4. Your data becomes an asset to market 5. Continue experimenting
![Page 15: The Value of Mining (Big) Data - Data-Driven Marketing Conference](https://reader034.vdocuments.mx/reader034/viewer/2022051818/549a4cb1b479594c4d8b58a9/html5/thumbnails/15.jpg)
Brand and consumer INSIGHTS from (Big) Data
![Page 16: The Value of Mining (Big) Data - Data-Driven Marketing Conference](https://reader034.vdocuments.mx/reader034/viewer/2022051818/549a4cb1b479594c4d8b58a9/html5/thumbnails/16.jpg)
Brand insights Prof. Oded Netzer
![Page 17: The Value of Mining (Big) Data - Data-Driven Marketing Conference](https://reader034.vdocuments.mx/reader034/viewer/2022051818/549a4cb1b479594c4d8b58a9/html5/thumbnails/17.jpg)
Edmunds.com sedan forum <Brand>Honda</Brand>
<Model>Honda Accord</Model>
<Model>Toyota Camry</Model>
<Brand>Toyota </Brand>
<Term>Best</Term>
<Term>Sedans</Term>
<Term>Competent</Term>
<Term>Price</Term>
<Term>Love</Term>
<Term>Best selling</Term>
<Term>Best</Term>
Honda Accords and Toyota Camrys are nice sedans, but hardly the best car on the road (for many people). It's just that they are very compentant in their price range. So, a love fest of the best selling may not tell you what is "best".
Text mining
![Page 18: The Value of Mining (Big) Data - Data-Driven Marketing Conference](https://reader034.vdocuments.mx/reader034/viewer/2022051818/549a4cb1b479594c4d8b58a9/html5/thumbnails/18.jpg)
Network analysis
![Page 19: The Value of Mining (Big) Data - Data-Driven Marketing Conference](https://reader034.vdocuments.mx/reader034/viewer/2022051818/549a4cb1b479594c4d8b58a9/html5/thumbnails/19.jpg)
MODEL SENTRA COROLLA CIVIC
Commonalities
Differentiators
Economy | Small-car | Subcompact | Compact
Power Performance
College
Mileage Plastic parts
Mom/Daughter
VTEC Engine Hatchback
Mud guards
Edmunds.com brand sentiment
![Page 20: The Value of Mining (Big) Data - Data-Driven Marketing Conference](https://reader034.vdocuments.mx/reader034/viewer/2022051818/549a4cb1b479594c4d8b58a9/html5/thumbnails/20.jpg)
Consumer insights
![Page 21: The Value of Mining (Big) Data - Data-Driven Marketing Conference](https://reader034.vdocuments.mx/reader034/viewer/2022051818/549a4cb1b479594c4d8b58a9/html5/thumbnails/21.jpg)
MESSAGING EFFECTIVENESS from (Big) Data
![Page 22: The Value of Mining (Big) Data - Data-Driven Marketing Conference](https://reader034.vdocuments.mx/reader034/viewer/2022051818/549a4cb1b479594c4d8b58a9/html5/thumbnails/22.jpg)
American Luxury
Messaging effectiveness Prof. Oded Netzer
![Page 23: The Value of Mining (Big) Data - Data-Driven Marketing Conference](https://reader034.vdocuments.mx/reader034/viewer/2022051818/549a4cb1b479594c4d8b58a9/html5/thumbnails/23.jpg)
Based on JD Power PIN Data
Brand-switching map
![Page 24: The Value of Mining (Big) Data - Data-Driven Marketing Conference](https://reader034.vdocuments.mx/reader034/viewer/2022051818/549a4cb1b479594c4d8b58a9/html5/thumbnails/24.jpg)
0
0.5
1
1.5
2
2.5
3
3.5
4
4.5
1/1
/20
01
4/1
/20
01
7/1
/20
01
10
/1/2
00
1
1/1
/20
02
4/1
/20
02
7/1
/20
02
10
/1/2
00
2
1/1
/20
03
4/1
/20
03
7/1
/20
03
10
/1/2
00
3
1/1
/20
04
4/1
/20
04
7/1
/20
04
10
/1/2
00
4
1/1
/20
05
4/1
/20
05
7/1
/20
05
10
/1/2
00
5
1/1
/20
06
4/1
/20
06
7/1
/20
06
10
/1/2
00
6
Lift
Import Luxury
American Brands
Linear (Import Luxury)
Linear (American Brands)
Brands mentioned alongside Cadillac
AMERICAN brands
LUXURY imports
![Page 25: The Value of Mining (Big) Data - Data-Driven Marketing Conference](https://reader034.vdocuments.mx/reader034/viewer/2022051818/549a4cb1b479594c4d8b58a9/html5/thumbnails/25.jpg)
0
0.2
0.4
0.6
0.8
1
1.2
1.4
1/1
/20
01
4/1
/20
01
7/1
/20
01
10
/1/2
00
1
1/1
/20
02
4/1
/20
02
7/1
/20
02
10
/1/2
00
2
1/1
/20
03
4/1
/20
03
7/1
/20
03
10
/1/2
00
3
1/1
/20
04
4/1
/20
04
7/1
/20
04
10
/1/2
00
4
1/1
/20
05
4/1
/20
05
7/1
/20
05
10
/1/2
00
5
1/1
/20
06
4/1
/20
06
7/1
/20
06
10
/1/2
00
6
1/1
/20
07
4/1
/20
07
7/1
/20
07
10
/1/2
00
7
1/1
/20
08
4/1
/20
08
7/1
/20
08
10
/1/2
00
8
Lift
Import Luxury
American
Linear (Import Luxury)
Linear (American)
Brands traded-in for Cadillac
AMERICAN brands
LUXURY imports
![Page 27: The Value of Mining (Big) Data - Data-Driven Marketing Conference](https://reader034.vdocuments.mx/reader034/viewer/2022051818/549a4cb1b479594c4d8b58a9/html5/thumbnails/27.jpg)
TARGETING improvements from (Big) Data
![Page 28: The Value of Mining (Big) Data - Data-Driven Marketing Conference](https://reader034.vdocuments.mx/reader034/viewer/2022051818/549a4cb1b479594c4d8b58a9/html5/thumbnails/28.jpg)
Better ad targeting
![Page 29: The Value of Mining (Big) Data - Data-Driven Marketing Conference](https://reader034.vdocuments.mx/reader034/viewer/2022051818/549a4cb1b479594c4d8b58a9/html5/thumbnails/29.jpg)
Cross-Platform Campaign Ratings
![Page 30: The Value of Mining (Big) Data - Data-Driven Marketing Conference](https://reader034.vdocuments.mx/reader034/viewer/2022051818/549a4cb1b479594c4d8b58a9/html5/thumbnails/30.jpg)
MARKET YOUR OWN (Big) Data
![Page 32: The Value of Mining (Big) Data - Data-Driven Marketing Conference](https://reader034.vdocuments.mx/reader034/viewer/2022051818/549a4cb1b479594c4d8b58a9/html5/thumbnails/32.jpg)
Get acquired because of data
![Page 33: The Value of Mining (Big) Data - Data-Driven Marketing Conference](https://reader034.vdocuments.mx/reader034/viewer/2022051818/549a4cb1b479594c4d8b58a9/html5/thumbnails/33.jpg)
Continue
EXPERIMENTING
![Page 34: The Value of Mining (Big) Data - Data-Driven Marketing Conference](https://reader034.vdocuments.mx/reader034/viewer/2022051818/549a4cb1b479594c4d8b58a9/html5/thumbnails/34.jpg)
A/B Testing for Obama Campaign
![Page 35: The Value of Mining (Big) Data - Data-Driven Marketing Conference](https://reader034.vdocuments.mx/reader034/viewer/2022051818/549a4cb1b479594c4d8b58a9/html5/thumbnails/35.jpg)
DON’T FREAK OUT your customers
![Page 36: The Value of Mining (Big) Data - Data-Driven Marketing Conference](https://reader034.vdocuments.mx/reader034/viewer/2022051818/549a4cb1b479594c4d8b58a9/html5/thumbnails/36.jpg)
Charles Duhigg, “How Companies Learn Your Secrets,” The New York Times (Feb 16, 2012)
Target’s predictive analytics
![Page 37: The Value of Mining (Big) Data - Data-Driven Marketing Conference](https://reader034.vdocuments.mx/reader034/viewer/2022051818/549a4cb1b479594c4d8b58a9/html5/thumbnails/37.jpg)
Tracking your whereabouts
![Page 38: The Value of Mining (Big) Data - Data-Driven Marketing Conference](https://reader034.vdocuments.mx/reader034/viewer/2022051818/549a4cb1b479594c4d8b58a9/html5/thumbnails/38.jpg)
“I keep saying that the sexy job in the next 10 years will be statisticians. And I’m not kidding.”
- Hal Varian, chief economist at Google.
![Page 39: The Value of Mining (Big) Data - Data-Driven Marketing Conference](https://reader034.vdocuments.mx/reader034/viewer/2022051818/549a4cb1b479594c4d8b58a9/html5/thumbnails/39.jpg)
The data scientist
1.Quantitative
2.Technical
3.Curious and creative
4.Skeptical
5.Communicative and collaborative
![Page 40: The Value of Mining (Big) Data - Data-Driven Marketing Conference](https://reader034.vdocuments.mx/reader034/viewer/2022051818/549a4cb1b479594c4d8b58a9/html5/thumbnails/40.jpg)
Questions?
Matthew Quint Director, Center on Global Brand Leadership Columbia Business School [email protected] Data Driven Marketing Conference – August 20, 2013