With the Big Data World Congress nearing kick-off, we thought we’d get in the mood for what the likes of Volvo, Google. Amazon, Paypal and others say on the subject with some traits that many of you are touting as of late…
Leaders are more…
1. …more internet-centric
On average, 42 percent of total revenue of the ROI leaders came from customer orders received via the Internet, compared to just 29 percent for the laggards.
This may not be a big surprise; many of the early Big Data technologies such as the Hadoop Big Data system came from Internet companies themselves such as Yahoo and Google. Internet companies face many digital interactions, so they need Big Data technologies and people to sort through their click-stream data. Yet ROI leaders in our study also included telecoms, retailers, banks and high-tech companies. You don’t have to be an Internet company to generate outsized returns on Big Data.
2. … are panned for gold in several places
ROI leaders see greater potential from Big Data to improve a number of marketing, sales, research and development, and service activities.
Companies such as Procter & Gamble and Netflix are using Big Data to identify new product opportunities. Leaders also believe Big Data holds much greater potential than do underperformers for improving four marketing activities: monitoring and improving customers’ experience in offline channels (such as stores); discerning competitors’ moves beyond pricing; monitoring external perceptions of the brand; and marketing based on customers’ physical location (which is why it’s become important for many companies to buy mobile data). This last activity helps explain the appeal of Big Data to a growing number of retailers.
3. … are more aggressive in exploiting unstructured and external data
Unstructured data, or digitized text, video, machine and other data that doesn’t easily fit into traditional databases, is hard for computers to analyze. That’s changing, however, as analytics tools come to market for performing such compute-intensive chores as discerning sentiments from text.
4. … are more likely to create a home for their big data professionals
Instead of embedding data scientists in business functions, ROI leaders centralized their analysts. Some 79 percent of the ROI leaders put their analysts in a dedicated Big Data group or in IT versus 68 percent of laggards.
For live coverage from tomorrow’s Big Data World Congress, follow us on Twitter @BigDataWS or join the official LinkedIn group to see what the likes of CERN, Spoitify, Amazon and others are saying on the above.