The American Marketing Association – Atlanta chapter held a special panel on Big Data yesterday. Big Data is a hot, albeit overused, term at the moment. The panelists, which represented big data leaders (they didn’t want to be called experts!) from well-known brands such as The Coca-Cola Company, Georgia-Pacific, and Google, and Definition6 (a local, independent ad agency) were tasked with defining Big Data and explaining how it can be used in today’s marketing organization and how it will shape future marketing efforts. The speakers at the event included:
- Julie Bowerman – VP eCommerce, The Coca-Cola Company
- Tom Lowry – Director, Google
- Douwe Bergsma – CMO, Georgia-Pacific
- Michael Kogon, CEO, Definition 6
Here are the key highlights from the event:
- Big data is the insights obtained from the analysis of disparate sources of data — a sea of data!
- Big Data is still in the infancy stages. Marketers should abandon their belief that it will drastically change their business in the near term.
- Marketers shouldn’t expect to uncover big insights without first crafting a strategy. As part of their strategy, they will want to define assumptions that they want test via data — data will either support or disprove their assumption (this was a key takeaway that I previously discussed).
- To get started with big data, you need to prioritize which data sources you’re going to look at first. You’re also going to need a marketing technologist — part scientist, part General and part storyteller — to inform the next big marketing initiative!
- The brand, not a third party, should always own the data!
Ken Bernhardt did a great job moderating the event and I’m looking forward to seeing how this conversation changes in the next 12 months.
What insights have you come across with Big Data?