A major challenge with big data is finding what to measure in the vast sea of unstructured data. In “Data Analysis for Marketers: Measuring what Counts, Telling the Story,” the author discusses this challenge and turning data it into a visual story. It is pointed out that all decisions can’t be based on real-time, infallible data. Similarly, companies cannot always attribute sales revenue to social media outreach efforts. Instead, the author shares this advice:
Thus, companies should focus their data analysis efforts on areas that have more readily available measures that can track performance against strategic objectives.
For instance, businesses should consider these questions:
* Compared to other marketing channels, does the company have good reach across its target audience on social media?
* How does the target audience engage with the company’s content compared to how the audience engages with the content of the company’s competitors?
Aligning the data you need alongside your strategic objectives is a big part of the decision making process, according to the article. For those on a marketing team, the article contains a few helpful guide points to consider in your data analytics efforts.
When it comes to enterprise information management, an understanding of entity extraction can be very important for a successful strategy so the article may be a good read. Look for content intelligence tools that use metadata effectively, like Smartlogic. They offer the Semaphore Classification Server which automatically applies consistent and accurate metadata tags to documents using a taxonomy or other controlled vocabulary unique to a business or industry.
Alice Wilson, May 23, 2013