How the digital lives of people are changing the rules of business.August 8, 2014 / Podcast # 14-16
If companies wish to survive in todayâ€™s ever-expanding digital age, they need to recognize their customersâ€™ code haloâ€”a consumerâ€™s virtual selfâ€”and implement the business model that supports it. This is why companies like Netflix are still standing while others like Blockbuster are not. Listen as Malcolm Frank, coauthor of Code Halos: How the Digital Lives of People, Things, and Organizations are Changing the Rules of Business, describes why companies must use data scientists that can understand both the complex math behind the data as well as the business content. And since trust is the currency of the new virtual economy, companies that have all this data should never abuse this power and need to emphasize building trust with their customers.
Getting smart about how you use analytics.May 30, 2014 / Podcast # 14-11
Koen Pauwels, consultant and expert on marketing ROI (Return on Investment), describes why smarter marketing can help drive up sales profits for any company. How is big data affecting marketing trends today? In many ways it sets the benchmark for marketing to be held more accountable for business profits. And with analytics becoming such an essential component to any business, companies need to get smarter. Pauwels offers several examples on how his methodology for smarter marketing, detailed in his book Itâ€™s Not the Size of the Dataâ€”Itâ€™s How You Use It: Smarter Marketing with Analytics and Dashboard, published by AMACOM, has actually helped companies, including saving a major corporation $150 million in advertising for a green product.
How to responsibly handle the customer's private information.May 16, 2014 / Podcast # 14-10
Mark Van Rijmenam, author of the new book Think Bigger, is a strategist who advises organizations on how to effectively manage their big data. He describes what big data is, why organizations should use it, and how they can benefit from it. Rijmenam suggests companies should deal with it now before it is too lateâ€”those that fail to manage big data today will cease to exist 10 to 15 years from now. He offers four tips companies should follow in order to handle their consumersâ€™ privacy information responsibly. And while storing, managing, and analyzing big data can mean a risk for consumer privacy, it does help companies offer their customers better products and services.