We are currently in the throes of the big data revolution. Being overturned are old and outdated business/consumer relationships. Today, consumers are more informed than ever and products and services providers strive to keep up with the demands of a discerning public. Enter: big data. Storage capacity is at unprecedented levels of volume and affordability, harvesting information from consumers is no longer difficult for companies. Rather, the difficulty lies in processing it. Turning big data into big information will define the triumphant in the revolution. This week’s Wrap focuses on how information can be used to make companies and professionals more effective.
Can Social Media Make Customers More Civilized?
Harvard Business Review
This season the Pittsburgh Pirates implemented ‘dynamic pricing’ which bases the price of bleacher seats on desirability of the matchup; higher quality baseball means higher priced tickets. Michael Schrage discusses the possibility of using data collection to give online merchants insight into who is buying their product and gear price changes to the most desirable consumer.
The Data-Driven Future of Journalism
Readwrite
Owen Thomas discusses the possibilities that analytics can have on journalism. Similar to the cues a public speaker takes from his or her audience, an online publisher can look at trends in their readership to inform future stories.
Disconnect Between CMO’s and CIO’s Threatens Marketing Effectiveness
Bulldog Reporter
Recently, Accenture surveyed 250 IT and 400 senior marketing executives. In regards to collaboration, the survey indicated mutual dissatisfaction between the two parties. Chief information officers expressed an interest in using technology to improve customer experience while chief marketing officers were more concerned in gaining customer insight.
Data is useless without perspective. Converting big data into big information is the challenge for everyone from IT to marketing. WordWrite tells the great, untold stories of businesses, creating perspective and appreciation for what these businesses do. To learn what WordWrite can do for your business, click here.
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Joe Ducar is a public relations intern for WordWrite Communications.
