Category Archives: Smart Data

Throwback Thursday: Big Data & Analytics Edition

March 24, 2017: Today’s Throwback Thursday article I wrote for my Forbes.com blog on May 15, 2014. The title of the article was “I’ve Got A Secret: The Real Big Data Opportunity”.

The article references an old TV Show, I’ve Got a Secret, and advises senior management to look beyond programmatic ad platform applications for big data and to seek more valuable strategic applications. Such applications have less to do with the “bigness” of the data, but rather should focus on the accuracy and relevance of data to provide answers for better decision making.

Click here to read the article.

Throwback Thursday: Big Data & Analytics Edition

March 16, 2017: “Is Mass Hysteria Driving The Big Data Market?” is the title of today’s Throwback Thursday article which was published on May 5, 2015 on Forbes.com.

In the rush towards anything to do with big data, many suffered temporary symptoms of hysteria, characterized by excitement, anxiety or irrational behavior, or beliefs in which many cases led to big data disillusionment.

The article advises a focus on identifying meaningful findings from relevant data for better informed business decisions by senior management. Are many experiencing similar hysteria to when it comes to big data driven analytics?

Click here to read the article.

Throwback Thursday: Big Data & Analytics Edition

March 9, 2017:

Today’s Throwback Thursday article is entitled, “Three Legs Of Big Data Stool Needed For Success.” First published on Forbes.com on April 23, 2014, it details three key areas for getting started in big data.

1. Data Sourcing and the potential pitfalls of big data streams from social networks full of fraud and incomplete data requiring numerous unverifiable assumptions.

2. Human resources capable of developing a strategy to exploit big data for a competitive strategy. (Hint: most fail here.)

3. Analyzing right types of data for meaningful outcomes.

Finally, the article advises about the use or integration of outside data sources which are much more specific, detailed, and accurate, in order to better inform digital data.

Click here to read the article.

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Gary Drenik is CEO of Prosper Insights & Analytics, a company that prides itself on turning data into evidence-based solutions for the C-Suite. www.ProsperDiscovery.com

Throwback Thursday: Big Data & Analytics Edition

This week’s Throwback Thursday article comes from a Forbes.com post I authored in March of 2014 titled, “Is Big Data Today’s Sock Puppet?” To set the context of the article, recall all the hype centered on big data in 2014, as if it were capable of solving about every problem known to man. The issue of methbots, bot fraud, and unverifiable data accuracy was largely overlooked. Today those issues are undermining many initiatives. Enjoy this replay of “Is Big Data Today’s Sock Puppet?”

Click here to read the article.

The Emerging Challenge Of ‘Fake Data’

From Forbes.com on February 22, 2017…

In just the last few years, iconic names like Borders, Radio Shack and Sports Authority have all gone the way of the T-Rex…they are extinct!  Disruption is and will continue to be a constant as we can see from political campaigns to consumer’s shopping behaviors.

Today, the effects of this disruption can be seen in accelerated retail store closings, legacy brands increasingly on life support and plummeting mall real estate values.

In response, private equity, corporations, and academic institutions have responded by pouring billions of dollars into an ever-expanding universe of big data firms with services, hardware, software and course offerings all promising to find the magic potion when firms aggregate their data gold mines.

This, in turn, leads to a bright light shined on the most important variable in this equation…the data.  And the resulting reflection has uncovered continue reading.

Throwback Thursday: Big Data & Analytics Edition

Earlier this week, I read an article in a technology publication about several University of Washington professors who are launching a new course designed to overcome what they call “bulls**t in the age of big data.” The 160 seat seminar starts in late March and filled up in the first minute of online registration. The course covers the rush to apply machine learning algorithms to big data that is oftentimes corrupt and yielding less than accurate results. Beware of the overhyped big data and its potential for revolution, warned one of the professors.

Yesterday I posted a recent interview I did with a business development consultant, John Sydnor, who warned about the emerging challenge of ‘fake data.’

The throwback article for today I wrote on March 11, 2014 and in it I warn about questionable data (i.e. fake) and the failure by many Fortune 500 companies to exploit big data for competitive advantage (i.e. hype). I also give some advice for how to upgrade your big data inputs to get more strategic outputs and go from big data to knowledge.

CLICK HERE to read “Going Beyond Big Data To Knowledge.”

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Gary Drenik is CEO of Prosper Insights & Analytics, a company that prides itself on turning data into evidence-based solutions for the C-Suite. www.ProsperDiscovery.com

Will 2017 Be The Year Retailers Finally Get Real?

From Forbes.com on January 17, 2017…

“We can easily forgive a child who is afraid of the dark; the real tragedy of life is when men are afraid of the light.” – Plato

While struggling with the topic and content of this column, the trickle of underwhelming Brick & Mortar sales results from many retailers’ holiday season began to hit the press. Many of these retailers have only now seriously begun thinking about creating a sustainable business model for the future. For some the ship may have sailed. All of which got me thinking about an article I wrote for this column three years ago. It is just as relevant today as it was in 2014. So rather than beating my head against the wall trying to reinvent the wheel, here is the article from 2014, its warnings, and even prescriptions for a new retail marketplace. Continue reading…

New Consumer Intelligence Service Helps Retailers Identify And Respond To Amazon Threat

Worthington, OH – 4/14/16

Prosper Insights & Analytics™ has launched the Amazon Shopper Intelligence service which is part of Prosper’s competitive intelligence suite of products. This unique service provides essential insights missing from most retailers’ loyalty data, including encroachment by Amazon along with the reasons why.  It also helps companies understand the merchandise categories in play and the discretionary dollars at risk. It is now more important than ever for retailers to understand the Amazon threat as the online giant works to further diversify their products and services. Continue reading

Predictive Model Conundrum: If No One Knows Where We Are Headed, How Will We Know When We Get There?

From Forbes on April 7, 2016:

Ever since the great recession of 2008, which seemed to surprise most economic prognosticators, it appears that there has been an increased interest in predictive analytics. Unfortunately, even with this new interest about the future, most predictions are wrong. Few, if any, seem to know where the economy is headed.  Continue reading

Consumer Confidence Bounced Back In March… Will Spending Follow?

From Forbes on April 4, 2016:

U.S. consumers have a brighter outlook for the short-term health of the economy, according to the latest Prosper data. The real question, however, is will it spring consumer spending? Deborah Weinswig, Managing Director, Fung Global Retail & Technology, has weighed in again this month on some of Prosper’s leading indicator analytics including Prosper Consumer Confidence, the Prosper Spending Forecast, the Prosper Impulsivity Score, and the Consumer Mood Index, and what they indicate about future spending. Continue reading…