Big Data Good or Bad?

Loads of things fascinate me on a personal level about this course:- 

• Marketing as a discipline to be studied is very new to me but it is all around us every day;
• Skills for Success has helped me identify what type of person I am and will, hopefully, identify where I lack and address it;
• Creativity and innovation will provide a method and a framework to develop and enhance ideas;
• Digital marketing is a relatively new field that is harnessing all the new technologies and is the new launching pad for the latter day Henry Fords and Carnegies.

But in a broader sense the issue that has grabbed my attention more than anything is what on earth is happening to all the little bits of information that we are as individuals putting out there and how is it going to be used.  So I started to look into it via the web which given the subject matter is slightly ironic. 

In the past few years we have produced a virtual tsunami of information via Google, Bing, e-mail, Amazon, Facebook etc. This has given companies and government a wealth of information on our habits, likes, dislikes and movements.

Data has always been there and has always been used by companies and government (think censuses).  However, the sheer scale since 2000 is exponential and is accelerating.  Let me bore you with some stats: Google handles 24 petabytes a day (2 petabytes could contain all the information in all the American academic research libraries), Facebook has around 680 million active users, Twitter has in excess of 500 million tweets per day according to their CEO as at October 2012.  I would think since this course has started this figure would have increased dramatically (you know who you are).[note to Niamh - approach them for some corporate sponsorship or at least explain to them why their stats spike every October]



The coming revolution of computer science is data analytics or Big Data.  Basically, we can now crunch an amazing amount of information which is providng insights which we have never had access to before.  For example Google can, using commonly used search terms for flu symptoms coupled with logging IP addresses to establish location, predict flu pandemics and prepare local areas to deal with outbreaks.  These methods are real time and are a huge improvement on previous recording methods which by nature were always a couple of weeks behind.  Car manufacturers can input sensors which predict why and when your car is likely to break down in real time.  It being used by Police to predict crime hot spots and divert their resources more effectively. It is being used to highlight climate change, identify catastrophic weather events more quickly, highlight the outbreak of infectious diseases etc.  

There are a myriad of ways this is being used and this should benefit society as a whole. Indeed, you could say say that data has always been used but the game changer is the sheer scale of the information and the ability to mine this and seek correlations in the data to use it in a predictive way. 

A question of concern is what else could it be used for.  Forget surveillance cameras - our location, habits and behaviour are readily available to companies and governments.  There is the commonly cited example of the 14 year old that was sent the baby vouchers before her parents knew she was pregnant. Barclays has recently announced that it will sell data on it's customers spending habits. It also mentioned that this could be passed to government and MPs.  Although this is done in an aggregated way the information is available at an individual level.  

This information can be used intelligently to better society and for profit.  Both of which are fantastic outcomes.  However, this provokes the whole question of the level of privacy that people are willing to sacrifice.  Benign governments will use the information wisely for the greater good but the temptation is always there to use it in a 'stasi' like way when push comes to shove.  

 


This is a huge area and, as I said at the start, I blogged on it as it is one that interests me.  It is one of those issues that whether or not you agree with the concept it is happening and is going to continue to happen. There is no point in being a luddite or the old man at the disco (you know who you are).  There is a wealth of debate to be had around this issue and one which, as I said at the start, I blogged on as it really piqued my interest.

TO BE CONTINUED!


Craig Wilson
21/10/2013

#mg119
#DCUBIP

Well we are a fortnight in on the BIP and what have I learned ?

I've learned there is a lot to learn and not a lot of time to learn it.  The initial sense of panic will probably not subside until we get through the first few presentations and exercises (or maybe it won't). 




I've learned a lot of new terms, For example - SOSTAC, the marketing mix, digital platforms etc.  

I am becoming aware of the growing  importance of digital media and the need for businesses to adapt to it and maximise it's use to their benefit.  I am aware that any business that does not embrace social enterprise to connect with everyone who touches their brand does not have the correct business model (paraphrased quote from Angela Ahrendts, Burberry CEO - as of today Apple!).

One of the most striking things for me on a personal level is that where previously the smartest guys in the room used to be the people who sat and designed phenomenally complicated financial models (and where did that lead us) are now the people who try to get us to click on a button.  

The other thing that has struck me about the course is how the design is structured so that each subject complements one another to produce a rounded knowledge of marketing and innovation but also to highlight who we are as people and identify how we can address the gaps. 




So wherever this course leads we will come out of it different people.  We will have a knowledge of a really interesting field that with the advent of digital marketing is at the start of a huge business shift that is also changing society.  But also with an analysis of ourselves and the chance to identify and, go some way, to address perceived gaps.  

Anyway this is my first attempt at a blog and I will witter some more sometime soon.  



Craig Wilson
16/10/2013