Analysing Big Data isn’t as easy as it’s made out to be, says Joerg Niessing, INSEAD Affiliate Professor of Marketing, and James Walker, Partner Demand Analytics, Strategy, in a blog published in Knowledge@INSEAD
Data analytics and “Big Data” promise to revolutionise marketing. Most companies are sitting on tonnes of data from various sources: financial data, mobile data, transactional data, customer research data, behavioural data, social media data, etc. The combination of new analytical techniques, amped-up computer power and instantaneous online resources has resulted in incredibly powerful tools that have changed the game forever, Niessing and Walker writes in their blog.
But the ease of analysing “Big Data” also has been overstated. In reality, harnessing Big Data is still a messy and very labour-intensive business. The authors bust some of these myths surrounding Big Data. Read more about it here