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Tech and government perform a complex dance. Companies like Google generate data that government wants, even as it regulates their data collection practices. Where does that leave consumer privacy?
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Social networking and digital advertising are colliding at a dizzying rate. Facebook, which has over 1 billion users, is launching video ads. Twitter, with more than 200 million users, just bought MoPub, a digital advertising platform that essentially creates an ad space that is sold and delivered every time a user views a page. What does this all mean for the relationship between businesses and consumers? The short answer: Market manipulation.
Recommendation engine StyleSeek is relying on data and analytics to drive business and fashion decisions — every single one of them. With about 50,000 actively registered users — impressive considering the company recently came out of private beta — and close to 200 retailers on board including the likes of Nordstrom, Macy’s and Anthropologie, StyleSeek may have tapped a new approach to a longstanding industry.
It is an understatement to say LinkedIn is growing like a weed. With 238 million members in over 200 countries, 2.8 million active company profiles, and 1 million professionally oriented groups, LinkedIn has become the world’s largest professional networking site. Deepak Agarwal, LinkedIn’s director of relevance science, explains how his company uses data and analytics to sustain this growth.
We’re in a new world of omnichannel retailing that includes physical, online and mobile channels. And those channels are blurring. In a recent AllAnaltyics video and web chat, Analytics in the Age of Omnichannel Retailing, researchers Erik Brynjolfsson, Yu Jeffrey Hu and Mohammad Rahman discussed the challenges facing retailers.
Facts: 900 million. Active sources: more than 100,000. Data sets: 30,000, with 200 million time series and 1.5 billion fact values. Link all these data sources together and what do you get? Timely, if not crucial, contextual information about markets, trends, competitors, products and consumer opinions. This is the promise of DOPA, a project funded under the umbrella of the European Union.
In the weeks following revelations that the U.S. National Security Agency's domestic spying network taps the electronic and telephone communiqués of so many Americans, consumers have intensified their concerns about corporate complicity in government data snooping. That leads to the question: Are we at the beginning of a consumer backlash that will stymie data-sharing? Or is it inevitable that we're moving into a new era of diminished privacy?
Over the past several years, Caesars has undergone a reorganization, in part to centralize its analytics functions. It has sought to build a deeper understanding not only of customers, but also of operations — everything from food and beverage analytics to labor analytics. Ruben Sigala, chief analytics officer at Caesars, talks with MIT Sloan Management Review contributing editor Renee Boucher Ferguson about that process, some valuable lessons learned, and where innovation and intuition play a role.
Is Twitter a litmus test for how a segment of society is acting — or thinking — at any given moment? Not quite. Striking new research out of Princeton University and the University of North at Carolina Chapel Hill suggests that inferences based on how people use social media platforms like Twitter and Facebook should be reconsidered because these platforms represent skewed samples from which it is difficult to draw accurate conclusions.
Executives are growing dismissive of Big Data’s value. Even the best companies can struggle to get good results from their data. But data isn’t getting smaller, it’s getting much, much larger. Corporate executives should look at what’s emerging from universities like MIT, where researchers are beginning to get answers to longstanding big questions in healthcare, public policy and finance.
You can find just about anything on eBay: A vintage BMW, a Lear jet, a half-million-dollar yacht. From all that activity stems a lot of data and, eventually, information. In conversation with MIT Sloan Management Review contributing editor Renee Boucher Ferguson, Neel Sundaresan, senior director of research at eBay, discusses how eBay uses data and analytics at every level of the company to continuously evolve eBay’s numerous sites and services for buyers and sellers.
In a research paper, Masters of Big Data: Concentration of Power Over Digital Information, Alessandro Mantelero posits that because not everyone has access to all sources of information — or the ability and infrastructure to exploit data — there is a concentration of a new kind of power: the power of information.
We can’t always trust our intuition about how employees will perform. Intuition can be misleading, or just plain wrong. So a growing number of savvy service businesses have investigated the use of a sophisticated linear programming technique called DEA, or data envelopment analysis. Authors H. David Sherman and Joe Zhu, who call DEA “balanced benchmarking,” write that the technique helps companies locate best practices not visible through other management methodologies.
MIT Sloan School of Management recently held a two-day executive education course, Big Data: Making Complex Things Simpler, designed to provide organizations with both an overview of big data and a few techniques to harness some of the illusive power of data. But in all the discussions that surfaced around the big issues from big data, the reality that many organizations grapple with is change management.
During a recent Exec Ed course, Big Data: Making Complex Things Simpler, MIT Sloan offered its first-ever virtual 4Dx course. Through the AvayaLive Engage platform, online students were transported, as avatars, to a virtual auditorium. That was the classroom setting for the two-day program.
The surprising finding that 55% of big data analytics projects are abandoned comes from a recent survey of 300 IT professionals. The most significant challenge with analytics projects, according to the survey? Finding talent. Most (80%) of the respondents said that the top two reasons analytics projects fail is that managers lack the right expertise in house to “connect the dots” around data to form appropriate insights, and projects lack of business context around data.
During our webinar, we described those characteristics that define each group, and what your organization can do to become more like Analytical Innovators — if you’re not there already (in a poll, 13% of audience members identified themselves as Analytical Innovators).
As the hour-long webinar came to a close, we found that there were far more questions than we had time to answer. And we also found that there were far too many intriguing questions to let them go unanswered.
There are 52 million Latinos in the United States, with $1.5 trillion of purchasing power. Entravision Communications Corporation, a Spanish-language media company, reaches about 96% of that U.S. Latino audience through its television and radio stations and digital platforms. And it's using that extraordinary reach to provide media solutions to marketers interested in tapping into the Latino consumer market.
In a webinar recorded in March 2013, the speakers present findings from the recent global study they co-authored, “From Value to Vision: Reimagining the Possible with Data Analytics.” In their study, they identified leaders of the analytics revolution they call “Analytical Innovators.” These companies share three key characteristics: a widely shared belief that data is a core asset; more effective use of more data for faster results; and support for analytics by senior managers shift power and resources to those who make data-driven decisions.
IBM chairman, president and CEO Virginia Rometty has been espousing a bold new future built upon big data. She told investors that big data — defined as data streaming in to the worlds’ organizations from cloud, mobile and social networks (and presumably mingled with enterprise data) — will be the basis of competitive advantage for every company and every industry for the next decade.
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