Big Data - Marketing Gone Mad?
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Learn why more data is collected about you than ever. How Google, Facebook, Twitter, Apple are part of the problem not the solution. Why trying to strengthen privacy laws may be too late. Get more insights from http://www.technoledge.com.au/b2b-blog
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Big Data - Marketing Gone Mad?
- 1. BIG DATA Marketing gone mad? Image: wikimedia commons
- 2. More numbers than ever… Power in numbers …and now we do have the technology
- 3. ‘The prospect of outdistancing your competition by leveraging your company's data with huge data sources such as NASA, the government, video and demographic services is compelling.’ Eric Lundquist, Informationweek ‘Big data in 2013 will not only go mainstream, it'll also overcome skeptics and bring the power of analytics to common folks.’ IT services provider ICC ‘By 2015, 4.4 million IT jobs will be created worldwide to support big data.’ Gartner Power hungry
- 4. Google knows all our habits. So do Facebook, Twitter etc e.g. New York State newspaper publishes Google map showing location of 44,000 registered handgun owners in 3 counties Big brother
- 5. Problem Sifting through data on a billion users to drill down to individual habits and preferences Solution Big Data Analytics: use of massively parallel systems to uncover patterns and trends in huge arrays of data What’snew? The technology is available & affordable Every move you make
- 6. • The ability to extract knowledge from data long after it’s been collected • The ability to mine and analyse unstructured data • The ability to merge datasets from many sources Big Data Analytics
- 7. ‘A child born in 2012 will leave a data footprint detailed enough to assemble a day-by-day, even a minute-by-minute, account of his or her entire life, online and offline, from birth until death … ‘Virtually every piece of personal information that you provide online will end up being bought and sold, segmented, packaged, analysed, repackaged, and sold again.’ Mark Sullivan, PCWorld Big Data and marketing
- 8. The Rise of Predictive Data Departments e.g. TARGET detects pregnancy from changed buying habits Predictive data
- 9. The Trade in personal data is booming Search engine companies, social networks marketers, advertisers, ad networks, website hosting services and data brokers e.g. Facebook aggregates personal data of its users to help advertisers target their ads The Personal Data economy
- 10. Facebook admitted to scanning conversations Twitter and Apple were caught uploading address books Google was fined for collecting personal data from unsecured networks Do no evil?
- 11. ‘Is big tech replacing the big banks and Wall Street as the corporate villains du jour?’ Rana Foroohar, Time Magazine In the enthusiasm around big data, there has been little discussion about what that data might uncover. Eric Lundquist, Informationweek Learning to hate Big Tech
- 12. New legislation to protect privacy EU leading the way Includes the right to delete online presence Serious penalties for corporate breaches Law makers to the rescue
- 13. To build a TRUSTED brand. Once you abuse trust how will you regain it? 1st law of marketing Break rule 1 at your peril
- 14. 5 Big Data Predictions For 2013 , Informationweek Big Data's Surprising Uses: From Lady Gaga To CIA Informationweek Learning to Hate Big Tech , Time Magazine Data Snatchers! The Booming Market for Your Online Identity Big data is our generation’s civil rights issue, and we don’t know it O’Reilly Radar Why you’ll need a Big Data Ethics Expert , Informationweek Kord Davis: Wrestling with the Ethics of Big Data, The Company Ethicist More reading
- 15. Call us (02) 9909 0246 info@technoledge.com.au Check us out www.technoledge.com.au Follow us Find out more
Notas do Editor
- BIG DATA is the latest fad in marketing, and it raises some serious issues as we’ll see.
- A lot of those numbers contain information about consumers that has marketers really excited
- Here’s the official view. The estimate from Gartner is staggering – where will all these skilled IT folks come from?
- All the search engines and networks we use have collected a vast amount of information about us. The example shows what can happen when someone decide to make some of this data public
- This is what has marketers excited: the ability to drill down through mountains of data to the preferences of small market segments and even individuals. Now we have the technology, both hardware and software. People can rent enormous computing power from Amazon for very modest amounts of money, and there are applications like Hadoop, a platform for structuring Big Data for faster, more efficient analysis.
- We no longer need to decide what data we want to collect, and what we plan to do with it. We can simply collect everything and mine it for gold later on. The first thing marketers in large B2C organisations are doing is mining their own mountains of data. We can also combine it with information from other sources – geographic, geospacial, demographic, statistical etc – for greater accuracy in detecting trends.
- Words are not needed here
- Target mined a customer’s purchase history and concluded that the individual was likely pregnant, then sent marketing appeals offering pregnancy-related products. The customer was a teenager still living at home, and Target’s marketing communication was discovered by her parents. Target didn’t do anything illegal making predictions on what products they might be interested in, but the incident shows just how far the gap has become between what’s legal and what’s ethical. It sure felt creepy to a lot of people—including the teenager who hadn’t yet told her parents she was pregnant.
- Persona data (also known as PII, Personally Identifiable Information)has become valuable a very commodity for marketing people. And for hackers – that’s why they’re going after big customer data bases
- The track record of the companies we entrust our PII to suggests that we cannot trust them
- These companies have given Big Tech a Big Bad name
- There’s a big ethics issue as well:You don’t know what information on people the analytic will come with, and it may be difficult to decide if you can use it. It may be legal, but it may not be ethical, and that means it can cause serious information governance issues for organisations.This is virgin territory legally
- The European Union has taken steps to protect the privacy of citizens – the new cookie laws are an obvious example
- As marketers, we need to think about a bigger issue: TRUST. We work hard to build it, and BIG DATA makes it easy to lose it. In today’s competitive marketplace, there will always be people who’ll cross a fine line for a perceived advantage.