Big Data & Market Research – Distant Cousins or Siamese Twins?

November 11, 2013

I recently attended a 2 day Big Data Summit conference in Sydney, run by Innovation Enterprise. From the show of hands, I was one of two market researchers among the 150 strong audience.

There a number of roles and opportunities for market researchers to play in this arena as from the quality and content of the presentations, it is clear Big Data is here stay, can only get ‘bigger’.

The retail, banking, and utilities sectors were well represented (fmcg was conspicuous in its absence) as was the Government sector with the Australian Bureau of Statistics, CSIRO, and the State of Queensland. The attendees’ profile, based on skill sets, was similar to an MR audience for a similar event but with a quantitative bias and an average age around 8-10 years younger.
big data 3 needs

Sportsbet’s Tony Greubner’s succinctly described 8 factors that would drive future of Big Data. His first three, the variety of sources, proscriptive analytics, and increased scope of application are perhaps the most pertinent (with no 6 “Geek is the new cool” being a favourite with the audience). Tony also highlighted three skill sets in short supply (see picture above) and here is where those with solid MR expertise could contribute. Read On..>