Big Data vs. Insights

Over the last 20 years and the emergence of digital as a central element behind marketing and advertising, the industry had gotten smarter and smarter, creating an expanded set of new metrics: dynamic segmentation modeling, click-through rate, impression share, engagement rates, share of voice, bounce rate, etc. Even with these, it is still very hard to measure success in a clear, distinct way. With technology and consumer behaviors evolving as fast as they do, we face new issues every day, from different attributions models to cross-device measurements to connecting online activities to offline sales.

Out of this barrage of metrics grew the messianic promise of Big Data. Add to that the rise of business intelligence tools, and suddenly every agency, no matter the size, needs to have a data scientist. Don’t get me wrong, talented data researchers and masters of analytics have helped shape since the earliest days of advertising data scientists have revolutionized the advertising industry. However, the work has also left many in a situation where they are unable see the forest for the trees, let alone align metrics with creativity and business objectives.

As much as I love data, and I do love it, the whole Big Data movement has come with a hefty price tag. We have lost the ability to tell meaningful stories or insights in favor of huge reports filled with analyses and pivot tables. We have all the data can’t make sense of it in a new, dynamic, enlightened way that makes for advertising and marketing that make brands sing and become part of the broader social fabric. We can target the living hell out of people, but that doesn’t mean what we tell them resonates.

The data we use should help us to create the story, answer questions, and find moments of inspiration. Furthermore, the data should be a tool rather than an object we roll out in lieu of light-bulb moment. Too many agencies have fallen under the data spell and have forgotten to turn those results into stories that align to a client’s objectives and strategies. It’s like talking to a customer about product features (empty of emotion) without selling them on the benefits (the emotional hook).

Quite simply, we need to get back to delivering meaningful consumer insights instead of only data. Delivering insights means telling the brand what is going to happen in their industry, how something we did had an impact on their bottom line, or how we discovered something that will change the way they do business. Simpler still, an insight produces positive change, regardless of whether it comes from data, an interview, or a poem for that matter.

 

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