Big Data, Big Responsibilities

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Big Data Big Responsibilities Current and Emerging Trends in Big Data and CSR Stephen Loudermilk, Global Director, Media & Analyst Relations, LexisNexis Chairman, PRSA Tech Section and Treasurer, PRSA Southeast District [email protected] 678-694-2353

Transcript of Big Data, Big Responsibilities

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Big Data – Big Responsibilities Current and Emerging Trends in Big Data and CSR

Stephen Loudermilk, Global Director, Media & Analyst Relations, LexisNexis

Chairman, PRSA Tech Section and Treasurer, PRSA Southeast District

[email protected]

678-694-2353

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Zoo Atlanta runs conservation programs in Georgia and across the

world.

• Conservation of wild animals and natural habitats

• Work with local communities to converse their environment and promote sustainability

Green Initiatives

• Green Team

• Green Tips and Tips for Kids

Research

• Giant Panda Research

• Great Ape Heart Project

Zoo Atlanta is Not Just About Wild Animals

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Overview

What this Presentation Will Cover

Big Data and CSR: The Current and Emerging Landscape

Data for Good: The Secret to Communicating More Ethically and

Responsibly as a Communicator or Corporation

Real-World Case Studies on Using Big Data Ethically in CSR Campaigns

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Big Data and CSR: The Current and Emerging Landscape

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According to Wikipedia, Big Data is the term for a collection of data sets so

large and complex that it becomes difficult to process using on-hand database

management tools or traditional data processing applications. The challenges

include capture, curation, storage, search, sharing, transfer, analysis, and

visualization.

What is Big Data?

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Recent blog post from Shazam…

Jim Lucchese, the chief executive of the Echo Nest, a music data

company that works with Spotify, Sirius XM and others but was

not involved with the Warner-Shazam deal, said that the challenge

is not so much getting access to information as having the

expertise to interpret it.

“The massive amount of data that’s available is incredibly

exciting,” Mr. Lucchese said. “The reality is that there is a

scarcity of people out there who really know how to make sense of

it.”

…But It’s Not Just About Zeros and Ones and Lots of Information

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Why is It Important and Why Do We Need to Embrace It?

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It looks at large data sets and turns raw data into “actionable intelligence” and insights to make better, more valuable marketing/PR decisions It provides clarity and clear analysis of information so you can sound like an analyst at the CEO’s table It helps forecast market trends so your marketing/PR campaigns can be more impactful to your customer base in the future It helps monitor the volume, reach and sentiment of social media activity around a product, brand and trend.

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Big Data and Predictive Analytics By The Numbers

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54% of PR people didn’t know what Big Data is, according to a recent Ragan Communications Survey

91% of marketing leaders believe successful brands use customer data to drive business decisions, according to BRITE/NYAMA

90% of the world’s total data has been created just within the past two years, according to IBM

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Think about things from an analytical POV (i.e. be close

to your statistician and market researchers)

Become a digital citizen and learn

more about responsibly using

data and information

Start experimenting and looking at data in

new ways. Become a Big Data

collector

Work with your legal, CSR and

privacy departments to understand laws and regulations

Big Data and CSR Skills Important For Becoming Better Communicators in the Future

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Twice as Many Top Performing Organizations Use Insights to Guide Future Strategies than Lower Performers

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45% 53%

20% 27%

0%

20%

40%

60%

Use insights to guide future strategies

Use insights to guide day-to-day operations

Top Performer Lower Performer

Market Insights • Top performing organizations use

analytics five times more than lower performing organizations1

• 50% of respondents said that improvement of information and analytics was a top priority in their organizations1

• 60% agreed that their organization has more data than it can use effectively 1

• 70% of high-performing companies will manage their business processes using real-time predictive analytics or extreme collaboration by 2016.2

Sources: 1) Analytics: The New Path to Value, a joint MIT Sloan Management Review and IBM Institute for Business Value study 2) Analysts to Discuss Future BPM Trends at Gartner Business Process Management Summit 2013, March 13-14 in London

Analytics To Drive Business Decisions

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Social Investment

Community Development

Environmental Sustainability

The Evolution of Corporate Social Responsibility

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It has come along way over the last 10 years. Now, most major brands have CSR reports.

Profit and Loss

Shareholder Value

Product Investment

It used to be all about…

Now, it’s much more about…

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CSR Needs to Be Part of Every Company’s DNA

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CSR

Social media

Sustainability

Product and Customer

Value

Governance

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• Big Data will be used to solve social problems, increase the efficiency of a business or strategize about business goals/objectives

• There’s tons of data (both structured and unstructured) being harnessed from the web and millions of public and private resources

• Corporations, researchers and communicators need to make sense of it all to solve problems (i.e. helping people in need, predicting/forecasting medical issues, natural disasters).

The Intersection of Big Data and CSR

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• Gather inputs from a wide variety of key stakeholders to see how your company is perceived from NGOs and government group, suppliers, employees and customers.

• Identify and respond to the correct external data.

• Social media sentiment and context can give your company a better way to perceive its value

• It can be a useful tool for rating CSR and sustainability performance

Why Use Big Data to Measure CSR?

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• Companies that collect data on their users need to find out how that data will be used and protected.

• Have a full understanding of trends in legislation, data breaches, government oversight, advertising/marketing

• Key questions:

Understanding Big Data Risks Is Essential In Your CSR Strategy

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How is data privacy being addressed inside

your company?

Are you evaluating third-party data

collection practices?

Are you simplifying your communications to the public regarding

data usage?

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Data for Good: The Secret to Communicating More Ethically and

Responsibly as a Communicator or Corporation

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• According to Forrester, 56% of business and IT decision see improving the use of data and analytics to improve business decisions.

• Sample uses of “Data for good” Conduct community outreach/philanthropy campaigns using Big Data,

social media, and other unstructured sources of data

Use contributory databases to find wanted criminals, terrorists and children

It’s Not Just About Collecting Data But Using “Data for Good”

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How it can improve corporate citizenship efforts?

• Improve reporting accuracy and number of data points

• Personalize employee engagement with deeper insights

• Redefine market segments

But we need to be careful of these caveats…

• We are only at the tip of the iceberg

• Training and development and helping people become more “data literate

• Information security

Big Data = Big Corporate Citizenship

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Source: B+SP’s Corporate Citizenship Center of Excellence

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Notwithstanding the NSA PRISM scandal, using a data for

good strategy is increasing becoming important in the corporate

and non-profit world.

• Data for good adds value to the community

• Discussion about how people can utilize their personal data to monetize personal data points

• Solving major world problems by realizing the power of our personal data for good

Tracking Personal Information for Good

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Real-World Case Studies on Using Big Data Ethically in CSR Campaigns

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Google Flu Trends Analyzes Millions of Searches of Flus

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IBM Leverages Its Smarter Planet Research to Capture Info About The Earth

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• 4-year project to establish 6 to 8 investigator-initiated Big Data to Knowledge Centers of Excellence

• Centers will improve the ability of the research community to use increasingly large and complex datasets through the development and distribution of innovative approaches, methods, software, and tools for data sharing, integration, analysis and management.

• The centers will also provide training for students and researchers to use and develop data science methods.

NIH Commits $24 Million Annually for Big Data Centers of Excellence

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LexisNexis’ Corporate Responsibility Strategy

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CSR and Big Data Are Becoming Big Mega Trends But You Need to Apply Them Correctly for Success

Stephen Loudermilk 678-694-2353 (office) 678-602-9452 (mobile) [email protected] Twitter: @loudyoutloud linked.com/in/sloudermilk

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Key Points: Leveraging CSR and Big Data best practices is transforming the companies and communicators of the future. Big Data is the future but becoming a “data for good” expert is a smarter way to make a difference as a communicator Learn from the companies on the cutting edge of CSR and Big Data!

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Questions

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