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Big Data Webinar 31st July 2014

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Big Data Webinar

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Big Data Webinar 31st July 2014

  1. 1. Big Data Webinar July 31, 2014
  2. 2. Our Speakers: 2 Jeni Chapman (Moderator) US Managing Director Gorkana Group Aron Galonsky Senior Director, Strategy Interbrand Allyson Hugley Executive Vice President, Meaurement, Analytics & Insights Weber Shandwick
  3. 3. 3 The Discussion… What is Big Data? Why should you join the Big Data conversation? Where do you get started?
  4. 4. Before the What….Why Should PRs Care? • AMEC (www.amecorg.com) (Association of Measurement & Evaluation of Communications) 2014 study among top PR agencies, Measurement Firms & Corp Comms reported: 4  More than seven in ten AMEC members (72%) agree that PR consultancies are increasingly recognising the importance of measurement & analytics.  The study showed industry growth of 9% in 2013, 12% growth in 2012. More than two thirds of AMEC firms (71%) said their company’s total revenue increased in 2013.  Members reported that they saw the biggest opportunity for future growth from the development of higher-value consultative services (56%), integrating with other marketing analytics (53%) and expansion of international work (51%).
  5. 5. 5 What is Big Data? • Social media • Server logs • Web clickstream • Machine/sensor • Geolocation • Transactional data • Call center data • Point of sale data Types of Big Data Aron Galonsky Senior Director, Strategy Interbrand • Big data has many, sometimes conflicting definitions. • At its core, “big data” is about building new analytic applications based on new types of data, in order to get closer to your customers and prospects, to drive a competitive advantage Big Data Definition
  6. 6. 6 What is Big Data? 1. Some of the alternative definitions of big data are more focused on the variety of data sources used vs. the size of the data 2. For true practitioners, traditional data is in the equation of big data analysis 3. In this framing, Big Data is more about smartly leveraging data to provide insights • Allows your organization to “dip their toes in the water” • Achieve small victories to encourage larger investment • Allows you to familiarize yourself with what this data is capable of answering Another Way to Think About Big Data
  7. 7. What Can PR Professionals Learn About How PR is Evaluated / Valued When it comes to Determining the Overall Economic Value of a Brand? • Typical engagement • Types of data • Types of decisions made as a result – What happens / can happen if PR data does not feed into the analytic models? – How often are you seeing PR data as part of the models you build today? 7 Why should you join the Big Data conversation? “Most Useful Rankings to CEOs” —PR Week 1. Fortune 500 2. Best Companies to Work for 3. Interbrand’s Best Global Brands Interbrand’s Best Global Brands study is the recognized global standard for valuing brands
  8. 8. How do you start integrating PR communications with other models and big data conversations? 1. Focus on sectors (or clients) that tend to be more data driven – Healthcare, Tech, Manufacturing, FMCG, Retail 2. Understand that agencies can play a lead role in the breaking down of “data” barriers within client organizations 3. Becoming “fluent” across multiple streams of data 4. Start with a few small wins, or a single unit, and build from there 8 Where do you get started? Allyson Hugley Executive Vice President, Analytics Weber Shandwick
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  18. 18. The 5 Vs of Big Data • Volume (Data Size) • Velocity (Speed of Change) • Variety (Different Forms of Data Sources) • Veracity (Uncertainty of Data) • Value! 18 VALUE! Is the key
  19. 19. 19 Top Tips 1. PR – start measuring not just outputs, but outcomes A. Outputs = Volume B. Outcomes = Message pull through, sentiment, Share of Voice 2. Set yourself up for success with small victories. This probably means going outside of the organizational comfort zone by generating an insight from non-traditional data sources. 3. More may not be better; have a business questions first and then align your data inputs to maximize the insight; maximize the role of analytics / modeling to deliver insights
  20. 20. 20 Top Tips 1. Strive for “fluency” across multiple data streams 2. Breakdown the data silos that exist across channels (or units) 3. Be open to experimentation 4. Approach data analysis as both a science and an art 5. Remember that being “data-driven” drives success, not “Big Data” 6. Becoming “data-driven” is a process, so take a phased approach
  21. 21. What we have learned 21 What is Big Data?  Large data sets, not traditionally used in modeling or analytics  In the strictest sense, PR measurement and evaluation is not “Big Data”; is it Valuable data! Why join the conversation?  If you do not have data that can go into the model; you are not part of the equation  If you are not part of the equation; you are not part of the solution • Affects your ability to get the resources you need • Value of what you do is not appreciated
  22. 22. What we have learned 22 Getting started  You must have more than “output” like volume of coverage; need to have quality data like message pull through and sentiment  If truly looking to integrate PR Comm data with other marketing data and “big data” like clickstream data, social etc; start small – focus on one business unit  Remove barriers to information; get C-suite support / use your agency to help you break down internal information barriers to get access to all data sets within a company Data driven decisions tend to be better ones BUT they do not replace the need for vision and human insight
  23. 23. Resources • www.amecorg • Harvard Business Review, October 2012 – “Big Data: The Management Evolution” 23
  24. 24. Additional Questions? 24

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