New Data Provides Antidote for Ad Fraud

Newly Released Media Behaviors & Influence™ Study Provides Marketers in Disrupted Media Market with Real Data from Real People for Increased ROI

Worthington, OH – 3/13/2017

As advertisers continue to struggle with disruption in the media world, including a decline in the use of traditional media, fake news, and bot fraud, Prosper Insights & Analytics™, a leading provider of business intelligence solutions, has released the Media Behaviors & Influence Study™ (MBI) for 2017. The data includes the responses of over 16,000 respondents and can be used to enlighten marketers by providing a unique consumer dimension. The MBI contains real consumers’ media consumption, including which media influences them to purchase, personality traits, and purchase intentions, and can be integrated with big data initiatives to enhance models to better target consumers.  Continue reading

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

In Its Battle With Amazon, Best Buy Gets A Fighting Chance From Shoppers

From Forbes on March 6, 2017:

It’s been five years since Best Buy unwittingly acquired the “showroom” moniker thanks to online-upstart-turned-serious-competitor Amazon.com. I’ve previously detailed the showroom showdown between the two electronics giants as well as Best Buy’s issues converting its shoppers into buyers. And since then, Best Buy has made concerted efforts to improve its profile among consumers by investing in customer service, updating the in-store experience (e.g. the Samsung Experience Shop), and promoting the Internet of Things (IoT) while minimizing the space out-of-date products waste on the sales floor (so long, digital cameras). Perhaps more importantly, though, Best Buy implemented a competitor price matching policy aimed at preventing shoppers from leaving stores (or abandoning its website) empty-handed. So how have consumers reacted to Best Buy’s changes? New analysis from Prosper Insights & Analytics’ monthly survey of more than 6,000 U.S. consumers nationwide reveals the progress Best Buy has made with shoppers over the past five years as well as the challenges that continue to haunt the electronics retailer in its battle with Amazon. Continue reading

Auto Outlook Remains Vibrant Heading Into Spring Selling Season

From Forbes.com on March 3, 2017…

Consumer confidence continues to decline from December’s peak but February’s reading represents a 19% surge over last year. Deborah Weinswig, Managing Director of Fung Global Retail & Technology, weighs in on the evolving state of the US consumer in 2017. Continue reading…

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.

Amazon Prime Risk: Prosper Releases Guide to Understanding Amazon Prime Members

Worthington, OH – 3/1/2017

Prosper Insights & Analytics™, a leading provider of business intelligence solutions, has released a new report available for purchase titled, “Prime Risk: A Retailer’s Guide to Understanding Amazon Prime Members.”

Over the past several years, as Amazon.com has grown its market share, loyal customer base, and product lineup, it seems that many competing retailers and brands underestimated – or were in complete denial of – Amazon’s impact on the retail industry and shifting shopping habits as consumers increasingly became comfortable purchasing online. Amazon is no longer an abstract digital pest for retailers – it’s a full-blown disruption to the industry as a whole. Shoppers, who are increasingly becoming Prime converts, LOVE the change, which in turn threatens the livelihood of every other retailer in the industry. As they gravitate toward Amazon in search of products, information, and other digital services, traditional retailers are left to compete for shrinking share of consumers’ wallets.

For retailers no longer in denial about the effect Amazon has had on both shoppers and the retail industry, this report is to serve as a guide to understanding Amazon Prime from the point of view of consumers, identifying which retailer shopper groups and formats are most at risk for losing customers to the Amazon vortex.  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