the big opportunity
DESCRIPTION
The Big Opportunity. Audience Research Meets Big Data. What exactly is Big Data?. The Big Data Revolution. Big Data Strengths. Cost. Long tail. Speed. Passive. Granular. Data overlays. Single Source: Big Data a step closer to the Holy Grail. Why are we doing this?. - PowerPoint PPT PresentationTRANSCRIPT
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The Big OpportunityAudience Research
Meets Big Data
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What exactly is Big Data?
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The Big Data Revolution
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Big Data Strengths
Long tail
Speed
Data overlays
Cost
Passive
Granular
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Single Source: Big Data a step closer to the Holy Grail
Why are we doing
this?
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Safety in (Big)Numbers?
• Key variables:– Robust sample size– Balanced, representative sample of the
universe– High response rate– Quality Control
• A balanced, controlled sample of 1000 individuals with a high response rate will always be more representative than 1,000,000+ customers drawn from an imbalanced, self-selecting or partial sample.
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Industry Surveys Strengths
Balanced rep. samples
Data availability
Transparency
Individual leveldemographics
Trading currency
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Industry Surveys Strengths
Balanced rep. samples
Coverage of Whole market
Data availability
Transparency
Individual leveldemographics
Trading currency
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What does Big Data represent?
• Because a data set is representative of something does not mean it can be assumed to represent everything.
• However just because it doesn’t cover everything does not mean a data set cannot be representative of something.
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Prin
t
Outdo
orRadi
o
WOM
OnlineSocial Media
Mobile
Consumer-centric
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Media-centric
Source-centric
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Big Data & Industry SurveysBig Data Industry Surveys
Coverage of total market Low Mostly first party or platform based
High
Passivity of measurement High Low – BARB exceptedGranularity / long tail measurement High Low - as sample centric
Individual level demos Low HighPotential to measure addressable/targeted advertising
High Low – as sample centric
Transparency / impartiality Low High – as industry fundedManaged, balanced samples Low – although less relevant if
true ‘census’ High
Potential for single source/overlays High Low - due to limited samples
Speed of delivery High Low – BARB exceptedAvailability to all Low HighData Collection cost Low High
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The research department of the future?
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The Big Debate“Out with every
theory of human behavior, from linguistics to sociology. Forget taxonomy,
ontology, and psychology. Who knows why people do what they do? The point is they
do it, and we can track and measure it with unprecedented fidelity. With enough
data, the numbers speak for themselves… There's no reason to
cling to our old ways. It’s time to ask: What can science
learn from Google?
Chris Anderson Wired 2008
" Chris Anderson…wrote in 2008 that the sheer volume of
data would obviate the need for theory, and even the scientific method….[T]hese views are badly mistaken. The numbers have no
way of speaking for themselves. We speak for them. We imbue them with meaning…
Data-driven prediction can succeed—and they can fail. It is when we
deny our role in the process that the odds of failure rise
Nate SilverThe Signal & The Noise
2012
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From creators to curators…
..from farmers to chefs?
Orfeo Orfei; The CookWilliam Sidney Mount: Long Island Farner
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Asking the right questions….
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The Big OpportunityAudience Research
Meets Big Data