Big Data & Marketing Research by AbsolutData's Anil Kaul
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Transcript of Big Data & Marketing Research by AbsolutData's Anil Kaul
AbsolutData Proprietary & Confidentialwww.absolutdata.com
225+ employees Operations in San Francisco and India
Marketing Research and Advanced Analytics
April 10, 2023
Presenter – Anil Kaul, AbsolutData
AbsolutData Proprietary & Confidential
Introduction
AbsolutDataMarket-Defining Analytics and Research
Services Provider300+ employees in San Francisco and
New Delhi, Singapore, London, Dubai, Chicago and New York
Backed by $20MM investment from Fidelity Growth Partners
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Anil Kaul Co-founder and CEO AbsolutData PhD in Marketing from Cornell Past experience at McKinsey & Co. and
Personify
AbsolutData Proprietary & Confidential
BIG DATA is the news of today
90% of the data that exists today was created
in last 2 years – IBM
Web Data
Social Media Data
Mobile Data
PostsVideo
Voice LocationSmartphones
Apps Tweets
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AbsolutData Proprietary & Confidential
All this news is making Market Researchers Nervous, Anxious and Apprehensive
“Big Data” is anticipated to comprise/transform 50% of current marketing research revenue (ESOMAR Global Market Research report 2010)
“……having enough data will remove the need for market research all together”
“Most importantly market researchers need to find ways to integrate data from different sources (unstructured data from social media, mobile devices, text analytics, etc.) as a part of their strategic insight delivery”
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AbsolutData Proprietary & Confidential
ING DIRECT CASE STUDY
2006 – Data Warehousing team taken out of IT department and merged with the analytics team to form BI division
2011 – BI combined with marketing intelligence and sits in the customer insights department. The team is now responsible for
Reporting and Analytics
Market Research
Targeted Marketing
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AbsolutData Proprietary & Confidential
Is the future
going
to look like
this?BIG DATA MARKETING
RESEARCH
It is tough to make predictions, especially about the future – Yogi Berra It is tough to make predictions, especially about the future – Yogi Berra It is tough to make predictions, especially about the future – Yogi Berra
“It is tough to make predictions, especially about the future” – Yogi Berra
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AbsolutData Proprietary & Confidential
Value
The way the world should be
The way the BIG DATA world should be
Volume + Variety + Velocity = Data Fog
Volume+
Variety+
Velocity
The way the BIG DATA world is
Data Fog
Volume+
Variety+
Velocity
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AbsolutData Proprietary & Confidential
The way the world should beVolume + Variety + Velocity = Data Fog
Developing Case Study
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AbsolutData Proprietary & Confidential
The way the world should beVolume + Variety + Velocity = Data Fog
A large hospitality chain is using social media listening tools
to Uncover and fix product, pricing and value issues
Measure service effectiveness and identify training opportunities
Pinpoint trouble spots with equipment, suppliers, internal processes and
delivery
Connect directly with reviewers to increase customer loyalty
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AbsolutData Proprietary & Confidential
The way the world should beVolume + Variety + Velocity = Data Fog
Challenge
As data comes in real time –
Is this a customer service issue? Or a strategic issue to action across the chain
Are these issues affecting a small number of customers or many more we don’t hear from?
Is frequency of an issue a good indicator of how critical the issue is?
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AbsolutData Proprietary & Confidential
The way the world should beVolume + Variety + Velocity = Data Fog
A solution is being developed that combines Social Media listening with “Rapid Research”
1. Social media analysis identifies top 5 issues on a daily basis
2. Relevant questions are included in customer satisfaction surveys being sent out that day
3. Data is analyzed after a week overnight in India
4. Insights and action items shared with the relevant teams in 1 day
5. Teams take action within 1-2 days
Pilot to be run for a quarterImpact and ROI will be calculated to take a decision about full roll-out at the end of the quarter
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AbsolutData Proprietary & Confidentialwww.absolutdata.com
225+ employees Operations in San Francisco and India
Marketing Research and Advanced Analytics
Thank You