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The Risks of Big Data and Rewards of Refined Analytics

Posted by Sparkfactor

Jun 27, 2014 10:41:00 AM

Measuring Marketing Success?

You're not alone if you're overwhelmed by the quantity of data associated with your marketing efforts. Dealing with the scale and complexity of measurable data tops the list of concerns for executives in all fields. Problems with big data include complexity, bias, and bugs. The more data there is, the more complex it becomes. As the amount of data collected increases, so will the connections that can be made. As a result of this complexity, it can be hard to find connections within data in order to create valuable insights. Additionally, sometimes our biases can produce an unrealistic interpretation of data. In our own heads, we have conclusions that can sometimes manipulate the data to make it true. Furthermore, whether the data works or not, or if there is a big - this can be problematic. Data can reveal insights that can create an aha moment or make you terrified. Always double check your data and be cautious with those "too good to be true" results. 

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Topics: Analytics, Marketing Analytics, Big data