If there is one thing we know about big data, it is that unless it can provide some sort of ROI, it is worthless. Sure, companies are collecting it, they are storing it, but they often aren’t actually doing anything with it. In this Wild West of big data, it’s a “take all” game that’s producing very few winners. In fact, for most companies, the mass collection and storage of data is backfiring (read: breaches) and causing some internal rifts about what to collect and how to store, or if the answer to both of those should simply be, “Neither.”
And choosing to wholly ignore the big data movement, while not advisable, is understandable. It’s a confusing subject, with little proof of return unless you can actually put it into action, integrate it within your business strategies and use it to fuel your success. It’s the most interesting story not being told, the one in which a company (from digital media to e-commerce to festivals to sports) uses data to end the use of disruptive digital ads, takes on the role of agency, owns their own data, uses predictive analyses to provide increased value back to sponsors with whom their customers relate. It’s the story of a CRM strategy that encompasses an entire company, one that focuses on the customer as a person, not a data point – of course, doing so by using data.
In other words, we’ve yet to hear the people side of a big data strategy, and we’ve especially yet to hear it from a customer, an actual person, and how its changed their online experience for the better. Here at Umbel, we’re working hard to help our clients create and then share that story, led by our Chief Operating Officer Mellie Price. For her, whether through the bringing together and visualization of a big data stack, providing on-platform actionability that turns big data into profit, or helping companies navigate the water of big data laws, compliance and ultimately managing user trust, she knows that clients’ biggest asset is their customer, and we’re making sure that data represents that both on the balance sheet and in word-of-mouth referrals.
Future of Big Data
“Ultimately, I think big data becomes an asset on the balance sheet for companies. It has a true value. Whole companies are being bought and sold on the basis of their data and their consumers.”
Future of Umbel
“As clients move toward having data assets and toward putting those on their balance sheets, they’re going to need a place to manage [their data] and the Umbel platform is the best place to do that.”
The Umbel/Client Partnership
“Umbel really takes something that is quite difficult to wrap your head around, and it makes it immediately understandable and immediately actionable.”