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The Evolution of Data

THE EVOLUTION OF DATA TODAY EVERYONE HAS DISCOVERED DATA. In fact, the world has gone data crazy. Let's take a look back on Which allowed the evolution of data, from marketers to organize their customers, the introduction of the u.S. Zip code in 1963 plus capture and retrieve data, and then reach out to them with a computer automation. Not made facility they never had before. mandatory until: 1967 TRANSACTIONAL DATA A major breakthrough? Yes. Who Where? bought? And how much? How often? What did When? they buy? BUT MARKETERS DIDN'T KNOW HOW TO GO OUT AND FIND MORE OF THEM: DEMOGRAPHIC DATA Enabled marketers to begin profiling customers. Gender Marital Status Age Children Income And therefore, allowed them to locate other people who "looked like" the best (or worst) customers. Demographics are interesting, even invaluable... but NOT VERY PREDICTIVE. PSYCHOGRAPHICS OR LIFESTYLE DATA Defining people by their INTERESTS, HOBBIES, how they spend their time, their social orientation, and so on. MUCH MORE INTERESTING. Two men might be demographic twins: DEMOGRAPHIC AGE AGE INCOME INCOME ETHNICITY = ETHNICITY MARRIED MARRIED 2 KIDS 2 KIDS %3D ADDRESS = ADDRESS PSYCHOGRAPHICS - Loyal Democrat - Loves Grunge Music Idea of fun: skiing in the -Staunch Republican - Enjoys Country Music - Ideal vacation: fishing in Alaska Pacific Cascades Which data sets do you think would be more PREDICTIVE? ATTITUDINAL DATA Describes how someone THINKS or FEELS about things: money, child-rearing, politics, the future. A recent research study determined that optimists are more likely to respond to just about any offer at all than pessimists. Not surprising if you think about it. PESSIMISTS OPTIMISTS + likely to respond as Bē Behavioral data comes from everywhere. in BEHAVIORAL DATA (or SOCIOGRAPHICS) Sociographics is the tsunami that is washing over the entire data landscape. From posts on social media sites to email and text messaging to picture and video sharing; from tweets to linked-in invitations, from online searches to likes and dislikes. We now have access to more data than we can possible understand, analyze, or employ. BIG DATA BIG DATA does a pretty good job of telling us what happened, but NOT WHY...or WHAT TO DO ABOUT IT. Today we can access any data we want, but it doesn't provide insights to act upon. WHY? Let's look at the key challenges posed by big data: VOLUME VELOCITY The sheer magnitude of the data now It's the speed at which DATA it is being generated and aggregated. IT'S LITERALLY BEING being generated... HOW MUCH IS THAT? GENERATED AT THE SPEED 90% of the data in the OF LIGHT DOUBLING EVERY 40 MONTHS! world today has been of the data created in the last in 2 years two years alone VARIETY VALIDITY Today we have to make room for UNSTRUCTURED DATA Possibly because of the anonymity of the Internet, or simply the opportunity COMING FROM MULTIPLE SOURCES: to be someone else for awhile.. THE RELIABILITY OF DATA IS OFTEN IN QUESTION. • SEARCH DATA • SOCIAL DATA • WEB-BASED BEHAVIORAL DATA • MOBILE DATA • CROWD-SOURCED DATA Data is enabling marketers to know everything about their customers, BUT: V THERE'S TO0 MUCH V IT'S GROWING TOO FAST V IT'S IMPOSSIBLY VARIED So, while there is no question IT'S NOT ALTOGETHER RELIABLE that big data technology allows us to see things as never before. HOW DO WE ORGANIZE, REFINE, ** DISTILL AND MAKE SENSE OF ALL THIS DATA? IN OTHER WORDS, HOW DO WE DEPLOY DATA TO CONNECT WITH OUR BEST PROSPECTS, and to speak to them in a language they understand, about the things they care about, via the communications channels they prefer, at the moment they are ready to take action... TO MAKE IT PERSONAL Visit us at www.alc.com FIND OUT HOW or contact us /\L MAKE IT PERSONAL® !!!! > >>>

The Evolution of Data

shared by onlyinfographics on Jan 26
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From the invention of the ZIP CODE to today's BIG DATA. Learn how DATA has become an incontrolable Tsunami.

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