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The Role of Data in the Attention Economy

The Role of Data in the Attention Economy | Public Relations & Social Marketing Insight | Scoop.it
From blog.marketing.rakuten.co.uk - September 22, 2015 9:38 PM

“95% of data is fluff”
The panel divulged that despite the increasing amounts of data available, only 5% is truly valuable. Tony referred to this as the “95 – 5 rule”, and panelist Ben Jankowski of MasterCard, added, “data ages like fish, not wine.” Therefore, it’s not only important for companies to use the right data, it’s about using it as close to real-time as possible, for maximum success.

Start small, aim big
All panelists agreed big data is great, yet it was clear that it is necessary to start small. It is recommended to take a stepped approach, and find success in each step before continuing to the next. Tony went on to explain that in helping customers use data, the first challenge to overcome is reach. Once you have your hands around that, you can focus and improve upon your creative....


Via Douglas G Hall
Jeff Domansky's insight:

Love the quote from Ben Jankowski of MasterCard: “data ages like fish, not wine.” As always, It's not the fish,  it's how you prepare it and serve it that matters.

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Doug Hall's curator insight, September 22, 2015 7:53 PM

Love the quote from MasterCard's Ben Jankowski: "Data ages like fish, not wine."
outlineluge's comment, September 23, 2015 2:52 AM
Its really good :)
s y m's curator insight, September 23, 2015 8:51 AM

Scrap dealer http://scrapvendor.com
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Nine free, brilliant resources to learn data mining - code(love)

Nine free, brilliant resources to learn data mining - code(love) | Public Relations & Social Marketing Insight | Scoop.it
From www.code-love.com - February 13, 2015 1:43 AM

If you’ve ventured here, you’re probably looking into data science, the mysterious science that seems to verge on mysticism in the press. The virtues of data are constantly praised as innovative and disruptive. They seem like the domain of an exclusive few practitioners lifting numbers into actionable insight.


Harvard Business Review went as far as to saying that the data scientist was the sexiest job of the 21st century.


It seems that data scientists create many of the most exciting projects at the cutting-edge of technology. The people you may know on LinkedIn appear thanks to data mining. Amazon’s book recommendations rely on computers to mine your book preferences and select the one book that is most likely to appeal to you. Facebook finds what posts you like, and serves you more of the same. Google finds out who you are, and filters search results and ads for you....

Jeff Domansky's insight:

Here are nine critical resources that will help you learn data mining.

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IBM's Next Big Thing: Psychic Twitter Bots

IBM's Next Big Thing: Psychic Twitter Bots | Public Relations & Social Marketing Insight | Scoop.it
From m.fastcodesign.com - February 6, 2014 2:35 AM

Using the power of the Watson supercomputer your bank could soon be stalking you on Twitter. And that might not be a bad thing.


Using some of the same technologies that allowed the Watson natural language supercomputer to conquer Jeopardy, IBM's next step: Psychic artificial intelligences that read your Twitter feed and can tell when you're about to have a baby, get married, buy a house, or move across the country, and even tell you how these major life events make you feel, then approach you about them accordingly.


Last week, IBM announced a new consulting practice called IBM Interactive Experience dedicated to better fusing business strategy, data, and design. As part of the announcement, IBM revealed that the company had been working on perfecting a couple of tools that are offshoots of the same computer research into natural language that led to Watson....

Jeff Domansky's insight:

What's the big idea? Start with big data, mix in some neuro-linguistics analysis and an algorithm or two and voila - The Jetsons.

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3 Steps For Using Big Data To Drive Faster Marketing Growth

3 Steps For Using Big Data To Drive Faster Marketing Growth | Public Relations & Social Marketing Insight | Scoop.it
From www.cmo.com - October 21, 2013 10:06 AM
Insights from big marketing data can be leveraged to create compelling experiences tailored to individual behaviors and preferences. By accurately processing and "actioning" big data, marketers can customize individual messages at remarkable scale.By taking the time to leverage your company's existing big data assets and following three simple steps, you can deliver personalized marketing that can grow sales this year...
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Amelia Brazell's curator insight, October 21, 2013 11:30 AM

Does the thought of big data send you into overwhelm?   Why not take adavantage of big data to move your buisness forward? This article provides insight on how to do that.  
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Big Data Is About To Produce A Whole Bunch Of Google-like Companies — Here's How

Big Data Is About To Produce A Whole Bunch Of Google-like Companies — Here's How | Public Relations & Social Marketing Insight | Scoop.it
From www.businessinsider.com - August 18, 2013 1:50 AM

Why are techies and scientists so excited about big data? It allows us to identify patterns and predict things like never before.

Jeff Domansky's insight:

Here's a few thoughts about big data and why it should matter to you.

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"Marketing Seat At The Table" cartoon | Tom Fishburne: Marketoonist

"Marketing Seat At The Table" cartoon | Tom Fishburne: Marketoonist | Public Relations & Social Marketing Insight | Scoop.it
From tomfishburne.com - May 4, 2015 2:11 PM

Around the executive table, marketing has traditionally had the hardest time proving their value. The correlation between marketing investment and revenue impact has often been fuzzy.

This is particularly true for consumer marketing. When a shopper picks up a particular bottle of shampoo in the grocery aisle, how much of that decision was influenced by marketing? How much of that decision related to years of brand investment, how much to the latest ad, how much to the recent packaging redesign, how much to the placement on shelf, how much to the in-store sales promotion? There are a lot of factors that go into any purchase. How much related to a brand-building message, and how much direct-response? Which tactics should get the credit, and therefore more investment in the future?...

Jeff Domansky's insight:

Do you have the data? Key credibility question for marketing.

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How Big Data Brings Marketing and Finance Together

How Big Data Brings Marketing and Finance Together | Public Relations & Social Marketing Insight | Scoop.it
From blogs.hbr.org - July 18, 2014 2:11 AM

When Raja Rajamannar became CMO of MasterCard Worldwide in 2013, he moved quickly to transform how the credit card giant measures marketing. His artillery: Advanced Big Data analytics. MasterCard had always been a data-driven organization. But the real power and full potential of data was not being fully realized by marketing.Rajamannar involved finance early.


To spearhead analytic efforts, he assigned a finance person – who was already embedded in marketing – to create an ROI evaluation framework and integrated her deeper into the marketing function. With a better understanding of the marketing context, she has brought a new level of financial discipline and rigor to the marketing team. This has reframed the conversation to balance the interests of both sides....

Jeff Domansky's insight:

Several case examples of how big data enhanced marketing.

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Neuroscientists Develop 5D Data Visualization Technique - Datanami

Neuroscientists Develop 5D Data Visualization Technique - Datanami | Public Relations & Social Marketing Insight | Scoop.it
From www.datanami.com - November 20, 2013 9:27 AM

One of the key challenges of big data is taking the enormous amounts of information and turning it into something useful that can be consumed and ingested by the human brain. This week, neuroscientists at the Florida Atlantic University (FAU) say they have developed a new type of visualization – a five dimensional colorimetric model that they say will help them visualize data across space and time....

Jeff Domansky's insight:

Imagine 5-D presentations? Whoa!

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Six Visual Solutions To Complex Digital Marketing/Analytics Challenges

Six Visual Solutions To Complex Digital Marketing/Analytics Challenges | Public Relations & Social Marketing Insight | Scoop.it
From www.kaushik.net - October 1, 2013 9:16 AM

Two things I love a lot:

 1. Frameworks, because if I can teach someone a new mental model, a different way of thinking, they can be incredibly successful.

2. Visuals, because if I can paint a simple picture about something complex it means I understand it and in turn I can explain it to others.


This post is at the intersection of those two lovely things.


Each of the six visuals re-frames a unique facet of the digital opportunity/challenge, and shares how to optimally take advantage of the opportunity/challenge....

Jeff Domansky's insight:

Here's a thoughtful look at how visuals can be used to communicate data much more effectively.

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