How Big is “Big Data”

Right now Big Data is REALLY big – HUGE even (don’t you hate that word). Not a day goes by without someone posting a blog or writing an article on the value of Big Data.  And why shouldn’t they? The reality is that all of our clients are sitting on huge amounts of information about their customers and prospects – yes, terabytes and terabytes as most are fond of saying. The value of this information is immeasurable. And when we can derive actionable insights from this data the return is immense. The data itself is free (although sometimes integration of multiple databases can be a challenge) therefore insights gleaned from this data can have a major  impact on our product development and customer experience initiatives without requiring significant financial resources (OK, I realize that the advanced analytics aren’t cheap, but they are relatively inexpensive in the grand scheme of things).

But is Big Data really big enough to drive truly actionable market insights by itself? 
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Back to Basics: Doing More with Less – Stakeholder Engagement

In marketing research, we are frequently faced with getting answers faster and for less investment. In the current business climate, we have become all too familiar with the term “Doing more with less.” Along those lines, buyers of marketing research frequently face situations where there are fewer human resources available or less budget, yet the demands of stakeholders remain unchanged. When confronting such resource-restricted situations, one becomes tempted to rely on silver-bullet solutions in order to meet objectives. However, in life, there are rarely quick fixes or magic bullets that adequately serve our needs completely. So what does one do to ensure that we are delivering on objectives in spite of a limited pool of resources?
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