Smart Data - Not Big Data
Have you heard Google or Amazon calling themselves a "Big Data" companies? They are the ones with sick amounts of data, but they also know that it is not about the sheer amount of data, but it is all about the user experience. "Wannabes" who are not able to understand the core values often hang onto buzzwords and hypes. As if Big Data, Cloud Computing or coding language du jour will come and save the day. But they are just words.
Even the name "Big Data" is all wrong, as it implies that bigger is always better. The 3 Vs of Big Data—volume, velocity and variety—are also misleading. That could be a meaningful distinction for existing data players, but for decision-makers, it gives a notion that size and speed are the ultimate quest. But for the users, small is better. They don't have time to analyze big sets of data. They need small answers in fun size packages. Plus, why is big and fast new? Since the invention of modern computers, has there been any year when the processing speed did not get faster and storage capacity did not get bigger?
Lest we forget, it is the software industry that came up with this Big Data thing. It was created as a marketing tagline. We should have read it as, "Yes, we can now process really large amounts of data, too," not as, "Big Data will make all your dreams come true." If you are in the business of selling toolsets, of course, that is how you present your product. If guitar companies keep emphasizing how hard it is to be a decent guitar player, would that help their businesses? It is a lot more effective to say, "Hey, this is the same guitar that your guitar hero plays!" But you don't become Jeff Beck just because you bought a white Fender Stratocaster with a rosewood neck. The real hard work begins "after" you purchase a decent guitar. However, this obvious connection is often lost in the data business. Toolsets never provide solutions on their own. They may make your life easier, but you'd still have to formulate the question in a logical fashion, and still have to make decisions based on provided data. And harnessing meanings out of mounds of data requires training of your mind, much like the way musicians practice incessantly.
Stephen H. Yu is a world-class database marketer. He has a proven track record in comprehensive strategic planning and tactical execution, effectively bridging the gap between the marketing and technology world with a balanced view obtained from more than 30 years of experience in best practices of database marketing. Currently, Yu is president and chief consultant at Willow Data Strategy. Previously, he was the head of analytics and insights at eClerx, and VP, Data Strategy & Analytics at Infogroup. Prior to that, Yu was the founding CTO of I-Behavior Inc., which pioneered the use of SKU-level behavioral data. “As a long-time data player with plenty of battle experiences, I would like to share my thoughts and knowledge that I obtained from being a bridge person between the marketing world and the technology world. In the end, data and analytics are just tools for decision-makers; let’s think about what we should be (or shouldn’t be) doing with them first. And the tools must be wielded properly to meet the goals, so let me share some useful tricks in database design, data refinement process and analytics.” Reach him at email@example.com.