Making big data work

In Data & Analytics by Freya Smale

Max Kelly, big data, customer insight

Max Kelly, Managing Director, Virgin Insight joined us at Big Data World today to talk explain how to make big data work. How do you make it work? Tell us below.

At Virgin Insight, an internal marketing and strategy consultant for Virgin, they believe that customers are at the heart of every successful business. By combining data and analytics with marketing and strategy, better business decisions can be made. They aim to help clients to gain customer insight.

Big data is not a new concept, it has been around for a while. Data can be collected from a multitude of sources, from credit bureaus, to EPOS, to call centre calls (naming but a few!)

The main investment area has been “the stack” of data, but is this really where the value lies? Tell us below.

Day to day operations, strategic and ownership decisions can be based on big data. Making good decisions make customers happier, and subsequently, making more money!

How do we approach decisions?

By thinking about gaining new customers, retaining customers and helping the business grow.  And also identifying new opportunities e.g. sharpening the focus of marketing campaigns. Living and breathing your company values will also set you apart, helping to gain new customers. Sweet spot to leverage the most from your data= balance of rational business and inspiring proposition.

Use data as a force of good!

Parting thoughts:

  • data visualisation lead to action
  • do we need real time all the time?
  • overcome IT issues
  • fuse datasets and data source to make it unique
  • make data accessible to users

Presentations will be available from the 24th September.