The Big Goal Behind All that Customer Data – HBR

Good read — with all the push to BIG DATA, this article reminds us it is very easy, particularly at this technology infancy stage, to become lost in the means and volume.

Excerpt:  Big Data is working hard to get into the minds of customers and uncover accurate information about how the customer really feels, thinks and responds to products, services, advertising and brands. But like eager field-scientists exploring a verdant new continent, companies attempting to navigate and leverage Big Data risk getting lost in the weeds.

Now — still early on in our understanding of Big Data’s true impact — is the time to avoid the most common mistake that companies make when embarking on tech-based research about customers: losing their way amidst all the complexity of systems issues, technical possibilities and implementation snags. Instead, when it comes to Big Data, your firm must stay focused on the business outcomes you want to achieve. And in many firms, the most promising outcome is unleashing vast stores of hidden wealth their customers can create. Thus, the most important question regarding Big Data at almost any company is: How much are your customers really worth?

Read full article via The Big Goal Behind All that Customer Data – Bill Lee – Harvard Business Review.

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