Smart Data - Not Big Data
We should never do things just because we can; data is a powerful tool that can hurt real people. Do not even get into it if you don't have a clear goal in terms of what to do with the data; it is not some piece of furniture that you buy just because your neighbor bought it. Living with data is a lifestyle change, and it requires a long-term commitment; it is not some fad that you try once and give up. It is a continuous loop where people's responses to marketer's data-based activities create even more data to be analyzed. And that is the only way it keeps getting better.
There Is No Big Data
And all that has nothing to do with "Big." If done right, small data can do plenty. And in fact, most companies' transaction data for the past few years would easily fit in an iPhone. It is about what to do with the data, and that goal must be set from a business point of view. This is not just a new playground for data geeks, who may care more for new hip technologies that sound cool in their little circle.
I recently went to Brazil to speak at a data conference called QIBRAS, and I was pleasantly surprised that the main theme of it was the quality of the data, not the size of the data. Well, at least somewhere in the world, people are approaching this whole thing without the "Big" hype. And if you look around, you will not find any successful data players calling this thing "Big Data." They just deal with small and large data as part of their businesses. There is no buzzword, fanfare or a big banner there. Because when something is just part of your everyday business, you don't even care what you call it. You just do. And to those masters of data, there is no Big Data. If Google all of a sudden starts calling itself a Big Data company, it would be so uncool, as that word would seriously limit it. Think about that.
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.