There is no Such Thing as Big Data - Jeremy Waite, StrategySalesforce Exacttarget MarketingCloud EMEA
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The reliance on insights for campaign success is increasing despite many calling for a blend of information and marketer instinct. Data may well be a vital support strut for performance marketing, but does big data actually exist? Our speaker for this session does not think so and he will be detailing why. Jeremy is primed to explain big data mythology and what he thinks it actually is. Attend this if you also want to learn how to provide great experiences for customers, given their average attention span is now less than seven seconds.
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There is no Such Thing as Big Data - Jeremy Waite, StrategySalesforce Exacttarget MarketingCloud EMEA
- 1. There’s No Such Thing As #BigData @JeremyWaite Head of Digital Strategy, Salesforce Marketing Cloud, EMEA #PMILDN
- 2. Safe Harbor Safe harbor statement under the Private Securities Litigation Reform Act of 1995: This presentation may contain forward-looking statements that involve risks, uncertainties, and assumptions. If any such uncertainties materialize or if any of the assumptions proves incorrect, the results of salesforce.com, inc. could differ materially from the results expressed or implied by the forward-looking statements we make. All statements other than statements of historical fact could be deemed forward-looking, including any projections of product or service availability, subscriber growth, earnings, revenues, or other financial items and any statements regarding strategies or plans of management for future operations, statements of belief, any statements concerning new, planned, or upgraded services or technology developments and customer contracts or use of our services. The risks and uncertainties referred to above include – but are not limited to – risks associated with developing and delivering new functionality for our service, new products and services, our new business model, our past operating losses, possible fluctuations in our operating results and rate of growth, interruptions or delays in our Web hosting, breach of our security measures, the outcome of any litigation, risks associated with completed and any possible mergers and acquisitions, the immature market in which we operate, our relatively limited operating history, our ability to expand, retain, and motivate our employees and manage our growth, new releases of our service and successful customer deployment, our limited history reselling non-salesforce.com products, and utilization and selling to larger enterprise customers. Further information on potential factors that could affect the financial results of salesforce.com, inc. is included in our annual report on Form 10-K for the most recent fiscal year and in our quarterly report on Form 10-Q for the most recent fiscal quarter. These documents and others containing important disclosures are available on the SEC Filings section of the Investor Information section of our Web site. Any unreleased services or features referenced in this or other presentations, press releases or public statements are not currently available and may not be delivered on time or at all. Customers who purchase our services should make the purchase decisions based upon features that are currently available. Salesforce.com, inc. assumes no obligation and does not intend to update these forward-looking statements.
- 3. #BigData • Why are we here? • What is it? • Why should you care? • What should you do with it? #PMILDN
- 4. The tools to change the world are in everyone’s hands. @JasonSilva
- 6. Facebook 89Bn billion “shares” per month McDonald’s 14,500 Social Profiles Coca Cola Be on EVERY platform… Amazon 17% Global e-commerce by 2017? 89Bn Month 98Bn Day
- 7. of marketers believe that “70 % the industry has changed more in the last 2 years than the last 50”.
- 8. 6,000+ Tweets / Second 550m Tweets / Day 1 Billion Tweets every 1-2 Days
- 9. “90% of the World’s Data Didn’t Exist 3 Years Ago”. Google
- 10. “There are now more pieces of data in the world than there are stars in the sky”. Google
- 15. #PMILDN ~ Interest & Affinities Customers 7% Money 9% Information 12% 72% Me!
- 17. “Create epic shit is not a content strategy”. Mark Schaefer INSPIRE | ENTERTAIN | CHALLENGE | INFORM | ENTERTAIN | SOLVE PROBLEMS -------------------------------------- HEART ------------------------------------ --------------------------------------------- HEAD -------------------------------------------
- 18. #PMILDN ~ Interest & Affinities
- 19. #PMILDN – Done!
- 20. “Companies are no longer competing against each other. They are competing against speed”. @Benioff
- 21. 00:05
- 22. “It’s not survival of the fittest anymore… It’s survival of the FASTEST”. @BrianSolis #DigitalDarwinism
- 25. #BigData What is it?
- 26. @422south
- 27. “There’s no Such thing as #BigData”. @Scobleizer
- 28. What is #BigData? 5B Smartphones by 2017 Customer Data Purchase Data 500m+ Social Networks, Blogs & Forums Social Data 2.5 Quintillion bytes of data every day Connected Data Volume Velocity Variety
- 29. #BigData is the new OIL…
- 32. #BigData Why should you care?
- 33. “CEO’s used to be judged by how well they acted in a crisis. Now they are judged by how well they anticipate one”. Wadah Khanfar Al Jazeera
- 34. Analytics Predictive Analytics Prescriptive Analytics THEN NOW FUTURE
- 35. “We create 2.5 quintillion bytes of data every day. That’s equivalent to one new Google every four days”. Techcrunch
- 36. Death of “Why”? “Google conquered the advertising world with nothing more than applied mathematics. Google didn’t pretend to know anything about the advertising world – it just assumed that better data, with better tools, would win”. @schmarzo
- 37. 1. Who 2. What 3. Why 4. Where 5. When 6. How 7. Outcomes
- 38. “Information is powerful… But it is how we use it that will define us”. @Avinash
- 40. #BigData
- 41. Nymi by Bionym Video 1:42 http://www.youtube.com/watch?v=jUO7Qnmc8vE
- 42. #BigData What should you do with it?
- 44. 5 Levels of Brand Leadership Metrics F.R.Y. / C.A.R.E. NPS Level SUCCESS PERFORMANCE ROI ENGAGEMENT BRAND PEAK SIGNIFICANCE PRODUCTIVITY PERMISSION SURVIVAL POSITION
- 45. My __________________ is the only ____________ that _________________. Marty Neumier
- 46. How can we help you build relationships with your target audience and achieve your objectives? Be accurate Be helpful Be everywhere 4 6
Notes de l'éditeur
- Add value Why does your company exist? (Not to make a profit – that’s a result)
- Did this presentation to my wife – she fell asleep!
- Performance marketing = PEOPLE + TECHNOLOGY We concentrate too much on one OR the other. Usually how do we make more money – and that doesn’t inspire anyone.
- CONTENT – right message right person right time Waste time? philosophical shots of espresso I love the idea that mobile technology is a “Flowering of new possibilities” to help make the world a better place – for our clients, their customers – whatever you’re “selling” ~ idea, cause, product, story, votes…. We have more technology in our hands than the US president had access to just 25 years ago Average smart phone is 1m x cheaper, 1m x smaller and 1,000 more powerful than a $60m super computer 40 years ago the size of a building BIG DATA SCALES….. [next slide]
- Technium
- Let’s start by looking at what some of the world’s biggest brands are doing ~ Facebook offers an app that turns on the microphone of a persons device and listens to the sounds it picks up to target better music and tv choices. – (89m / month + 98bn day within 5 years) McDonalds (kings of fast food) recently reduced average meal time delivery to 121 seconds. They plan cut cut another 15 seconds off using RFID (wallet stays in your pocket) Starbucks – facial recognition Coke – Doesn’t own (89m fans) Amazon – track pupil and head movements to monitor on-site behavior and predict gender, age & ethnicity in order to serve more relevant products and offers (NOT ENABLED YET) RedBull 45m (2nd)
- Explain – there’s a problem 1,200 marketers
- TAXI’s to TWITTER TIME – 50m 1 year (50yrs ago) – now Twitter = 8:40 Twitter = 3.5years 1st bn – now just over 1 day
- All the data ever created since the beginning of time is now reproduced ever 48 hours
- 90% worlds data didn’t exist 3 years ago But how do we make sense of it all? We invent clever technologies and new shiny things….
- Complexities of choice - iPad Despite a 75% increase in advertising….. Wrote in 1965….
- BUT WE ARE HERE – MARGINAL GAINS Lots of small things done well…. (incremental returns) Works in personal life. Works in performance. Doesn’t work in business or technology. Multiple partnerships are important – but where your data is concerned (tagging / attribution / marketing analytics) – things need to be as simple as possible
- Only 42% companies know how to measure LCV – Dell know EVERYTHING!
- Add value Look at my customers Here’s some stuff you might like One guy was out last night excited and snogged a person (who’s gender he “wasn’t 100% sure of”)
- 80% social media = ME 20% Face-to-face = ME
- Red Bull – 50% waste time – original social manifesto from RBMH True then as it is now
- PAGE 21
- Bigdata – 46 conversations Crystal Palace, TDF & G+ - 50
- SF1 Munich ~ 7 secs attn span Goldfish 8 Storytelling in 7 seconds (JFK – Obama) Halflife of a tweet = 7-8 minutes av.
- Goldfish = 8 seconds Us = 7 seconds Your job NEVER EASIER
- OPPTY = Social is the one are of business where you don’t need to outspend your competitors in order to beat them
- Value of a Millisecond 787 driving | 711 airline | Cut out 40miles by building it straight (highways / rivers) Usually 12 milliseconds (1/1000th second – 10th time to blink fast) – theoretically fiber optic speed light travels) Actually was 17-18 1/1000th second – Verizon was 15th called the golden line $300m to build a new route between CHI NY
- Value of a Millisecond (Flashboys book by Michael Lewis) Capitalising on the discrepancies between +/- 3 milliseconds between the 2 trade exchanges meant each single bank would stand to make approx $20bn year extra All for only $14m in costs and sevices Limited to only 200 customers obvs 6000 tweets second (10,000 trades second)
- Big (public) data viz by 422 SOUTH - Bristol 2013
- Provocative quote but correct in context. There is no such thing as big data. There are just lots of small spoonfuls of data. We don’t have a big data problem. We have filter failure. This is why the marketing cloud is so important. From journey builder and audience builder to the hundreds of radian6 filters that allow you to surface and instantly respond to the most important interactions. 204m emails every minute 550m tweets a day – 277k minute 3.5bn FB shares a day TIME – 50m 1 year – now Tw = 8:40 http://mashable.com/2014/04/23/data-online-every-minute/
- Interesting patterns ALWAYS occur… For example a credit card company that had a particularly large problem with bad debt. The risk & compliance department were monitoring defaults and found that people who buy certain cleaning products or anti-scuff pads for their furniture are 64% more likely to make their payments and not default. (50billion connected “things”
- Like oil – when it is refined – you can do wonderful things with it
- GROWTH IN WORLD OIL PRODUCTION (1859-2050) Tesla doing so well
- INNOVATORS (3%) EARLY ADOPTERS (13%) TIPPING POINT Larry – Charlie Rose TED – Neuroscience AND computer science to senior leadership Responsive = 86% eyeballs apps not (mobile) browsers Gartner Hype Cycle – Digital Marketing 2013
- Oil – easiest to predict Hardest to disrupt http://techcrunch.com/2014/08/10/big-data-bound-to-get-really-really-big-with-the-internet-of-things/
- Analytics evolution = Analytics (what did we do and why did it happen) Predictive (what is likely to happen next?) Prescriptive (what should we do to take advantage of our predictions). We ask too much of our data and not enough of ourselves. What we we going to do with these insights to make the world a better place? BIG responsibility as marketers to SERVE the customer (we often forget that in our land grab to sell stuff!) Linkedin – economic graph
- This creates a problem and a challenge – but also an opportunity?
- Google was right. They didn’t care WHY things happened they just wanted to know WHAT happened. Bill Schmarzo – VP analytics at Yahoo
- SONY ~ Look after 96m fans on THEIR PREFERRED network How will this information add value to our customers How can we make the best marketers in the world even better DELL = $168M
- Real time response starts with listening – 35,000 people – faster than news wires – heatmaps = GO Specifically, the Digital Operations Center will help the Red Cross (DALLAS) by DELL · Source additional information from affected areas during emergencies to better serve those who need help; · Spot trends and better anticipate the public’s needs; and · Connect people with the resources they need, like food, water, shelter or even emotional support.
- Urdu Command center 1% = £200m £50 asprin / £60 ambulance £20bn shortfall next spring
- Nymi by Bionym http://www.youtube.com/watch?v=jUO7Qnmc8vE According to an IHS white paper titled Wearable Technology - Market Assessment, roughly 50 million wearable units will be sold in 2014, and more than 180 million are predicted to sell in 2018. With the massive number of devices coming into market, it is imperative that companies understand how consumers will operate in a hands-free world. Wearables are the future of mobile, and companies can now discover new ways to market, sell, service and more.
- You job will never be EASIER
- PEFFORMANCE MARKETING Position = LA Fitness Likes / Web traffic / New members (Utility) Permission = TV show / favourite athlete Unique conversations / share-of-voice / awareness (SKY NPS) Productivity = RESULTS - What you have done Glanbia Impressive results (ROI but needs tracking) Performance = What you have done to develop others (Apple (watch) / GoPro / UnderArmour / Fitbit) LOYALTY / Lovemarks (beyond price) Peak = ??? Opportunity Something bigger than yourself : Red Bull, Nike, Facebook, TOMS, Google Only 42% companies know how to measure LCV – Dell know EVERYTHING!
- We NEED to articulate this! (Too much noise) My mission at Salesforce is to help make the worlds best marketers even better Hopefully I’ve succeeded in some small way today