Showing posts with label buzz. Show all posts
Showing posts with label buzz. Show all posts

Tuesday, December 9, 2014

Big Data Will Change the World

After spending the last four years struggling to re-imagine and re-invent a storied video game developer, the author is taking a hiatus from the gaming software world and venturing into the emerging "big data" and "analytics" marketplace. It is an exciting journey that will be shared in this blog - with posts and updates on a regular basis. So on to the basics...

As Vince Lombardi once said: “If you’re not keeping score, you’re only practicing… not playing.” In business and institutional settings, analytics is how we keep score.


Analytics is defined as the process of analyzing statistical data to gain insight.  The depth and scope of insight to be gained is demonstrably substantial; so interest in metrics, analytics, infographics and visualization continues to grow in businesses and institutions.  In some settings, like federally-supported health care systems, moving to an analytics-based model is a mandate with looming deadlines.  In a sense, small-to-medium size businesses have some serious deadlines approaching as well.

For the most part, business executives understand the need to harness the power of “big data,” analytics and predictive analysis to stay competitive; but many have no idea where to begin, or how to transition to a data- and analytics-driven business model.  Much of the material in this post come from a Foreword that I wrote for a new e-book on the subject entitled: Analytics 2 Insight.

Quoted in a recent Forbes article, Michael Cristiani at Powerhouse Factories might have captured it best, telling Reuters that small businesses already have most of the data they need. “The world runs on data and analytics,” he said. “They’re starving for the insights.”

Analytics can be applied to identify trends, patterns, and anomalies so that businesses, institutions and agencies can lower costs; reduce risks, enhance performance and increase value through data-based decision making. 

Analytics is a powerful decision support tool, and is particularly useful to aligning strategy to business/institutional objectives. By combining statistics, operations, marketing, and financial analysis with data from internal and external sources, a better understanding of trends, patterns, and interactions can be established.  That is what insight is all about.

As Tech America Foundation's Federal Big Data Commission recently found: "Hidden in the immense volume, variety and velocity of data that is produced today is new information, facts, relationships, indicators and pointers, that either could not be practically discovered in the past, or simply did not exist before."

Analytics service engagements range from predictive and propensity modeling to sensor monitoring and anomaly detection. Analytics and “big data” are the next revolution in the digital world. Data visualization decreases time-to-insight, ensuring relevancy and magnifying actions and interventions. 

At the end of the day, it’s about collecting/capturing data, both internal and external, then analyzing the data based on key indicators so that the insight gleaned can be brought to bear on the mandates and challenges of delivering and documenting efficient, effective products and services to your customer base. This welcome trend is being driven by a combination of factors, including: competitive mandates, contractual mandates, savvy board directors and community partners.  And sometime in the not so distant future, there will be a serious price to pay for failure to comply.

Editor's Note: this is the first installment of a series of articles I have planned on the subject. So stay tuned, more to follow.  #BigData #Analytics #Metrics #NewBook #Business

Sunday, February 4, 2007

AdWords Adventures

I've posted before about neural marketing and the online buzz machinery. Part of the process of building a "Borat Buzz" around the Bijou property has been a couple of Google AdWords campaigns we're running. For the crew of producers, myself included, this is a new experience.

Of course we'd been reading about the new marketing communications paradigm, and the price of Google's common stock reinforces the expected success of the model. After several months of experience, we heartily concur. AdWords rule. That's all there is to it. End of story.

My friend John Fricker, an IT guy at Musician's Friend and the former technical genius behind Southern Oregon Magazine (online version), originally hooked me up with AdWords. He forwarded me a backgrounder outlining how he had used the service to "purchase" the name of our local congressman during the last election cycle. He then used his key-word purchase to reach about 20 thousand potential voters with his message for under 30 bucks. I was impressed, and wanted to know all the details.

Google makes it easy. After reading John's primer, the tutorials, FAQs and some forum chatter, I designed a campaign around two simple text ads that feature some of the show's strongest image and identity messages, paired with the URL for the project blog. Our initial goal was to just get the project name back out in the market. Our moniker, Matinee at the Bijou, is not unknown - as the show was on PBS for eight years, five consecutively, in the 80s. So we wanted to get that back out in play as aggressively as possible on a tight budget.

That highlights the fact that an AdWords campaign is perhaps as effective a public relations tool as an advertising vehicle. We're certainly using AdWords in that manner, as part of a multi-layered approach. AdWords also play an important, though non-traditional role, in the neural marketing construct that I proposed in an earlier post.

Here's how it works. Once on the net, making connections and actually "using" those connections, then getting them to work independently on their own, is what feeds buzz. AdWords, the impressions they make and the click-throughs they generate, are nodes in the neural system - generating "use" and strengthening connections. That's a very good thing.

The Bijou project is using AdWords campaigns to: (1) build visibility; (2) develop awareness and context; (3) anchor key images and messages; and, (4) call fans to action.

We've learned that Google offers two models for purchasing AdWords: keyword-based campaigns; and, site-based campaigns. Additionally, with key-word campaigns, Google offers both "search engine" placement and "content network" placement. Google's content network consists of all sites that utilize Google companion communication product, AdSense. For example, our Bijou is Back blog site has three "content network" Google ads. Our own ad graces the pages of sites that are thematically related to our message. Works so fine. In fact, if one's own site has the traffic, it is not inconceivable that the AdSense ad revenue generated will partially or completely cover the expenses of an AdWords campaign. Now that would be elegant indeed. Just the possibility seems to be a powerful motivator.

AdWords can also be deployed in a variety of user-defined configurations. One can select specific metropolitan statistical areas, specific pages on which ads are to be displayed, specific sites, the list seems to be quite extensive. What a concept.

The bidding piece seems to be daunting for some. That is, one makes a minimum "bid" to purchase key words. The bid is for a minimum Cost per Click (CPC). Remember, there is PR value for simple viewer "impressions," but only click-throughs cost. For site-specific campaigns, one bids on CPM. The Google system defaults to a suggested minimum bid, and learning the system (and the tricks of the trade) is not complicated. Further, the system alerts customers when key-words become inactive, and offers the opportunity to raise one's bid - or not. Adding or deleting words, activating or pausing the campaigns, checking on status, pricing and monitoring costs is all so easy and intuitive just about anyone can master it. And that's just what the Googlies had in mind. We check our account several times a day and on weekends to fine-tune our campaigns.

Google also understands what constitutes value added services. The Big-G nerd patrol provides a bevy of on-line resources, a useful blog and access to robust analytics. Data. We're talking lots of quality data presented in a number of useful ways. I love the metrics. One can measure everyfreakingthing. My colleagues are very impressed with the numbers, charts, graphs and reporting capabilities of our programs. Makes the program manager look like a star, for sure.

At this writing, we've had 734,000 impressions and 518 click-throughs - gross. With the reporting capabilities of AdWords, the data becomes much more granular. As a result, we're seeing rate and amplitude increases in traffic at our blog, some additional subscribers at our YouTube pages, an increase in comment frequency and we're thinking the buzz is building. I'll have more to report on that later.