Big Data - Experian to extracting value from big data ... merchandising success 1 $ 50% of ... Big...
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Transcript of Big Data - Experian to extracting value from big data ... merchandising success 1 $ 50% of ... Big...
Big Data Putting it to work for you!
Presented by:
Marcus Tewksbury Global Vice President, Product Strategy
Experian Marketing Services
Michael Clark Director, Cross Channel Marketing
Experian Marketing Services
Agenda
• Big data defined
• Targeted marketing review
• Bringing it together
• Examples of challenges the combination can solve
• Warning!
Big data
Volume – Data at scale
Variety – Data in many forms
Velocity – Data in motion
Focus on Volume
• More than 2.5 exabytes of data are created each day
• More data crosses the internet every second than were stored in the entire internet 20 years ago
• Estimated that major retailers can collects more than 1 million transactions per hour feeding databases with 2.5 petabytes of data
Sources: Getting Control of Big Data, Harvard Business Review October 2012 Data, Data Everywhere, The Economist February 2010
Business intelligence and analytics are the keys to extracting value from big data
Sources: 1. RSR Research: 2012 Merchandising Report 2. Forrester: The State of Customer Analytics 2012 3. IBM – A Smarter Planet is Built on Smarter Analytics
Enterprises that apply advanced analytics have 33% more revenue growth and 12X more profit growth
12X
More Revenue Growth
& Profit 3
7 of 10 retailers say customer analytics is key to
merchandising success
1
$
50% of
retailers use customer analytics to improve data-driven focus of organization
2
Put Data To Use
Query and reporting • Data mining • Predictive analytics
Educate Explore Engage Execute
Many clients are in the early stages of enterprise-level big data adoption
Source: Analytics: The real world use of big data, Big Data @ Work study prepared by IBM Institute for Business Value with Saïd Business School at Oxford University
Focused on knowledge
gathering and market
observations
24% of clients
Deployed two or more big data initiatives, and continuing to
apply advanced analytics
22% of clients
Piloting big data initiatives to
validate value and requirements
6% of clients
Developing strategy and
roadmap based on business needs and challenges
47% of clients
Embracing big data
Big data at scale
No executive sponsorship
CIO or CMO sponsorship
Functional C-level executive
CEO sponsorship
Executive sponsorship
Forrester (Sucharita) estimates personalization lifts online sales by 5%
… improve conversion, up sell, and cross sell through site personalization
1.