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So much data, so little time

So much data, so little time Kevin Hung

There is no perfect solution right now for the issue of big data, but there are some very interesting ways to look at the ecosystem and derive some conclusions. As incredibly useful as data is, marketers need to remember that consumers are human beings, and you need to be able to properly interpret that data to really know the consumer better. We need to be better about the way all of this data is leveraged. Proper interpretation of data affects the way that you reach out to consumers. Avoid glancing quickly over data and "reaching out a dirty hand" to consumers. Instead take the time to digest the information in front of you and make a genuine connection with them.

Kevin Hung, SVP and digital innovations director of Havas Media, discusses why it's so difficult to trace the right path with data, and provides tips on how to approach consumers.

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Article written and video edited by associate media producer Brian Waters.

"Big bang of future technologies, computer generated abstract background" image via Shutterstock.

Kevin Hung is head of digital and innovation in Chicago, specializing in immersive technology experiences that help businesses build their value exchange with and for consumers. He has successfully launched businesses into new categories and...

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Commenter: Bill Kaplan

2015, July 28

Great article title and good video. Marketers these days are swamped with so much data their heads are spinning and they don't know where to turn. Wrapping one's arms around all of these data points (e.g. opens, clicks, complaints, demographic and psychographic attributes, and purchase activity, etc.) requires expertise across many disciplines from statistics (to sift and understand the meaningful data) to technology (to merge and analyze the relevant data points) to marketing (to understand what actionable programs to develop based on the results of one's analyses), to say the least.

In my younger days, I started and ran the MIT Blackjack Team, well before the term "big data" ever existed. We analyzed the game of 21 by running Monte Carlo simulations on millions of possible outcomes, performed regression analyses on various playing and betting strategies, and determined the optimal systems and strategies for our players to employ in the casinos. The "proof was in the pudding" as evidenced by our winning track record over nearly two decades of play by hundreds of players.

With my blackjack days well behind me, our team at FreshAddress has focused our efforts on applying the same deep analysis of all of the big data available to help marketers "win" at the game of marketing through FreshAddress's eSpend Score®. eSpendScore draws on more than 30 data points (e.g. opens, clicks, demo- and psychographics, and, most importantly, purchase activity) to calculate a single score of 0-100 for each email address, much like a FICO score provides a picture of one's creditworthiness.

The end result? FreshAddress's eSpendScore measures a customer's propensity to engage and spend at a particular email address, empowering you to send the right offer to the right person at the right email address.

To succeed in marketing one needs to be a rocket ship scientist among many other things. Fortunately FreshAddress's eSpendScore can handle the rocket scientist aspects of the job, enabling marketers to leverage what they do best.

To learn more, see http://www.freshaddress.com/services/email-scoring/