I have to confess that I find the term “Big Data” to be intimidating. I don’t really focus (or obsess) about numbers. I prefer to keep my eye on results. I recognize that there are numbers behind these results and that’s great as long as I don’t have to deal with them. Still, more and more the term Big Data is being raised in selling related conversations so perhaps it is time for me to pay attention. Here is how Wikipedia defines it …
“Big data is the term for a collection of data so large and complex that it becomes difficult to process using on-hand database management tools or traditional data processing applications. The challenges include capture, curation, storage, search, sharing, transfer, analysis and visualization. The trend to larger data sets is due to the additional information derivable from analysis of a single large set of related data, as compared to separate smaller sets with the same total amount of data, allowing correlations to be found to “spot business trends, determine quality of research, prevent diseases, link legal citations, combat crime, and determine real-time roadway traffic conditions.”
Well, that certainly is a mouthful and one that makes it difficult for me to digest. What I need is real-world examples that will allow me to better comprehend how this will affect me. Somebody tells me that they can do this and they claim to be changing the world now in meaningful ways that even I can relate to. That somebody would be IBM and they are doing so with Big Data, Cloud Computing, Mobile Devices, and the Big Daddy of Big Data, Watson. This is not the IBM that I grew up with (black suits, white shirts, solid dark ties, wingtip shoes, and … pocket protectors) and, when I do think about IBM, I see them as being all about big business and not at all about my business. Am I wrong and I just don’t recognize it?
I do like and respect IBM. They help to sponsor this site but they have never suggested, let alone directed, what I should write about. Today I have chosen to write about them. Our association is evidence that IBM wants to connect with real people and real readers. People like you and me.
I’m a small business person so let’s examine closer what IBM is up to. Data today is much more than just numbers and bits. While there are still integers involved, these numbers also correlate to buyer behaviors and their needs (expressed or implied). The simplest example of this might be the algorithms that are employed which allow advertisers to display ads based on the fact that you have been researching, or even talking about, that particular product or service.
This is pretty cool (think about the variety of sources that need to be mined) but still, this is not predictive. It is reactionary and based on the occurrence of trigger events … you looking for something. The reality is, that with today’s computing power, there can and will be much more advanced functionality. Let’s go back to the last sentence of the Big Data definition:
“spot business trends, determine quality of research, prevent diseases, link legal citations, combat crime, and determine real-time roadway traffic conditions.”
As somebody who is very active in the cloud, and specifically with social business applications, I am encouraged to see that IBM has a specific offering for this arena ,,, IBM SmartCloud for Social Business which would include spotting, and creating, actionable data to address and predict business trends like:
- Defining buyer personas (understanding the how, what, when, where, and why of buyers)
- Identifying purchasing patterns based on historic data as well as product life cycles and/or service history
- Predicting customer service requirements based on usage levels
- Anticipating consumer wants and needs in order to direct new product development
Check out these stories and some excellent “Made with IBM” case studies including Point Defiance Zoo, Music Mastermind, Sky Italia and Cognitive Cooking. Watch all the “Made with IBM” spots on IBM’s YouTube.
It will take a company like IBM, for example, to devote their computing power to predictive and artificial intelligence that will allow us to become proactive vs. reactive and this includes being able to recognize and complete tasks for us before we even think of them!
While I may not have the resources available to invest in an IBM solution, the good news is, I don’t have to. The companies that create and manage the tools that we use today, the tools that we will be using tomorrow, do have the resources and we (both the marketer and the consumer) will reap the benefits. It’s going to be a wild ride and I am looking forward to it!
How about you? Where do you see Big Data taking us?
This post was written as part of the IBM for Midsize Business program, which provides midsize businesses with the tools, expertise and solutions they need to become engines of a smarter planet. I’ve been compensated to contribute to this program, but the opinions expressed in this post are my own and don’t necessarily represent IBM’s positions, strategies or opinions.