What Is Big Data

May 24, 2013

What Is Big Data

The Retailers Guide BIG DATA

May 24, 2013

The Retailers Guide BIG DATA

SEARCHING: Boost a search term

September 25, 2012

BI24 provides the relevance level of matching documents based on the terms found. To boost a term use the caret, “^”, symbol with a boost factor (a number) at the end of the term you are searching. The higher the boost factor, the more relevant the term will be.

Boosting allows you to control the relevance of a document by boosting its term. For example, if you are searching for “Manchester” or “Pie” and you want the term “Manchester” to be returned towards the top of the document list, using the ^ symbol along with the boost factor next to the term. You would type:

This will make documents with the term Pie appear at the top of the document list.

You can also boost grouped terms;

SEARCHING: Grouping Syntax and Queries

September 25, 2012

BI24 supports using parentheses to group clauses to form sub queries. This can be very useful if you want to control the Boolean logic for a query.

To search for either “beef” or “chicken” and “London”, use the query:

This eliminates any confusion and makes sure you that “London” must exist and either term “chicken” or “beef” may exist.

SEARCHING: Range Searches

September 24, 2012

Range searches allow you to match documents whose field(s) values are between the lower and upper value specified by the range search. Range searches can be inclusive or exclusive of the upper and lower bounds. Sorting is done alphabetically.

Using square brackets performs inclusive range searches:

This will find documents whose “Branch Name” field has values between “Bristol” and “Chester” inclusive.

Using curly brackets performs exclusive range searches:

This will find all documents whose “description” fields have values between “Bristol” and “Chester”, but not including “Bristol” and “Chester”.

SEARCHING: Fuzzy Searches

September 24, 2012

BI24 enables you to do fuzzy searches by typing the tilde (“~”) symbol at the end of a single word term. For example to search for a term similar in spelling to “hip” use the fuzzy search hip~

This search will find terms like hop and ship.

Interesting findings by Columbia Business School and NYAMA study in 2012

August 1, 2012

Sample findings:

• 91% of senior corporate marketers believe that successful brands use customer data to drive marketing decisions

• Yet, 39% say their own company’s data is collected too infrequently or not real-time enough

• And 51% say that a lack of sharing customer data within their own organization is a barrier to effectively measuring their marketing ROI

• Large firms are much less likely to collect new forms of digital data like mobile data (19%), than they are to collect traditional customer survey data such as on demographics (74%) and attitude (54%)

• 85% of large corporations are now using social network accounts (e.g. brand accounts on Facebook, Twitter, Google+, Foursquare) as a marketing tool

• 65% of marketers said that comparing the effectiveness of marketing across different digital media is “a major challenge” for their business

• 37% of respondents did not include any mention of financial outcomes when asked to define what “marketing ROI” meant for their own organization

• 57% are not basing their marketing budgets on any ROI analysis

• 22% are using brand awareness as their sole measure to evaluate their marketing spend

In order to leverage the opportunities of big data, marketers need to improve their ability to:

• Collect meaningful customer data from a variety of sources, including real-time data

• Link that data to metrics developed for measuring marketing ROI

• Share data across the organization, linking datasets together at the customer level

• Utilize this shared data to effectively target and personalize marketing efforts to customers

In order to effectively harness the capabilities of new digital tools, marketers need to:

• Set clear business objectives for any digital marketing effort

• Develop a variety of metrics for new digital tools—from audience metrics, to engagement metrics, to financial metrics

• Develop models that link channel-specific digital metrics (like retweets or Facebook interactions) to universal metrics, including your key performance indicators (KPIs)

• Continuously innovate new measurement models, as new digital tools and marketing rapidly evolve

Above all, get started. Start with the basics of determining marketing ROI so you will create the largest impact on your organization:

• Make sure you’re using some kind of metrics on most of your marketing.

• Be ready to invest in getting some kind of data relevant to your measures.

• Make coordinating your traditional and digital media campaigns a goal.

• Set specific measurable objectives for all your campaigns.

• Put ROI in stated objectives for all your vendors (so they know your expectations to retain them or to cut them loose).

• Link marketing ROI to employee compensation, perhaps a bonus.

• Start today… as the pay off and learning curve will likely take a few years.

Then, move on to ROI best practices:

• Make sure your marketing metrics are accepted by finance.

• Make sure your data is: timely, actionable, linked at the customer-level, used to personalize marketing and target customers.

• Share your data across your organization.

Thanks to

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