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Big Consumer Data: the Promise, the Overpromise, the Opportunity
A recent article stated “McKinsey finds it’s all talk and little action with data analytics in most companies”. Mike agrees and will discuss how, despite advances in hardware and software, the promise of Big Data has yet to materialize. He’ll share some best case examples, but also the more common not so good uses of Big Consumer Data and propose several suggestions for overcoming these problems, including a consumer data mall and creating more data translators. Finally, he’ll suggest how market researchers should be integrating big data into their research programs, leveraging big data to capture information on behavior while using direct questioning to focus on understanding the why’s of that behavior.