Monday, May 14, 2012

Internet Week NY

One of the nice outcomes derived from hitting 'critical mass' is the benefits from the ecosystem that come your way. Over the past three years, New York has clearly put itself on the internet map and the hundreds of concurrent internet related panels spread throughout the city this week is a great indication of the depth, health and diversity of the industry.

Following are top level notes from the Big Data Panel this morning:

  • The challenge 5 years ago was around storing and sharing vast data quantities, now it's around interpreting for insights
  • A silo data approach breaks the model of having holistic insights
  • As an industry, data intelligence players need to develop applications which can be used by a variety of data, across multiple business areas. Moreover, understanding there's many partners (usually silo reated) who need access to the data, there's a need for a common platform/application to fulfill the enterprise vision. The challenge is to develop something that's comprehensive, yet not overwhelming and easy to implement.
  • Data is an enterprise asset; used properly its key insight into a customer's or prospect's journey (as step one). Step two is to apply the data towards a personalized and customized approach to a prospect/customer where the data enables a 'needs based' message to be delivered. Another aspect is to understand what action influenced the prospect/customer to get them interested in the first place, then to efficiently replicate
  • Today, the CMO seems to be the point person for assembling the multitude of data suppliers/needs. By the way, data is being used here to include analytics, dashboards, etc.
  • Best practice is to take something you already know and see if there's a way to apply it in a different way (e.g. by integrating with CRM systems)
  • The role of the agency is to be a partner to the agency in putting into place the systems to analyze and act on 'big data'

  • If you have time, here's a link to the panel