āBig Data.ā Over 800 million results when you type the term into Google. Itās been an important marketing topic for some time. And itās a significant challenge for CMOs. Whether itās accumulating the right data, organizing it so it can be easily analyzed, or being able to extract useful insights, there are a number of challenges that marketers are trying to solve. In a conversation I had with an executive from a leading marketing services firm (because of her firmās policies, her name canāt be disclosed), she mentioned that the emphasis on big data is misplaced. As we talked, I captured four key points about how the nature of data value is shifting and impacting the role of marketers in firms.
āBig dataā isnāt as important as āsmart dataā or the āright data.ā Companies are getting excited over the notion of big data, but itās ultimately only as good as the insights you get out of it. And in order to get actionable insights out of it, you have to combine big data with small data (panels ā understand who). The small data provides the context and calibration that big data canāt do on its own. When you combine the two, you get smart data.
To read the entire article, please click on https://www.forbes.com/sites/kimberlywhitler/2019/08/20/stop-focusing-on-big-data-and-start-focusing-on-smart-data/#4169d1344ff9
