By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
SmartData Collective
  • Analytics
    AnalyticsShow More
    construction analytics
    5 Benefits of Analytics to Manage Commercial Construction
    5 Min Read
    benefits of data analytics for financial industry
    Fascinating Changes Data Analytics Brings to Finance
    7 Min Read
    analyzing big data for its quality and value
    Use this Strategic Approach to Maximize Your Data’s Value
    6 Min Read
    data-driven seo for product pages
    6 Tips for Using Data Analytics for Product Page SEO
    11 Min Read
    big data analytics in business
    5 Ways to Utilize Data Analytics to Grow Your Business
    6 Min Read
  • Big Data
  • BI
  • Exclusive
  • IT
  • Marketing
  • Software
Search
© 2008-23 SmartData Collective. All Rights Reserved.
Reading: Dark Data: The hidden billion dollar opportunity
Share
Notification Show More
Latest News
cloud-centric companies using network relocation
Cloud-Centric Companies Discover Benefits & Pitfalls of Network Relocation
Cloud Computing
construction analytics
5 Benefits of Analytics to Manage Commercial Construction
Analytics
database compliance guide
Four Strategies For Effective Database Compliance
Data Management
Digital Security From Weaponized AI
Fortifying Enterprise Digital Security Against Hackers Weaponizing AI
Security
DevOps on cloud
Optimizing Cost with DevOps on the Cloud
Development
Aa
SmartData Collective
Aa
Search
  • About
  • Help
  • Privacy
Follow US
© 2008-23 SmartData Collective. All Rights Reserved.
SmartData Collective > Analytics > Sentiment Analytics > Dark Data: The hidden billion dollar opportunity
AnalyticsBig DataBusiness IntelligenceSentiment AnalyticsSocial Media AnalyticsText AnalyticsUnstructured Data

Dark Data: The hidden billion dollar opportunity

Mark Ross-Smith
Last updated: 2017/06/20 at 11:33 PM
Mark Ross-Smith
4 Min Read
SHARE
- Advertisement -

Every organization collects, stores and retains portions of dark data. It’s the digital equivalent of emotional baggage which hangs around after every user interaction, transaction, and customer engagement.

In fact, not using data effectively is costing United Airlines almost $1 Billion annually in lost revenue.

- Advertisement -

Gartner Inc. describes dark data as “information assets that organizations collect, process and store in the course of their regular business activity, but fail to use for other purposes.”

For travel companies with a strong online presence, dark data represents a sizable portion of all data stored. Such examples might include:

More Read

construction analytics

5 Benefits of Analytics to Manage Commercial Construction

Fortifying Enterprise Digital Security Against Hackers Weaponizing AI
Data Visualization Boosts Business Scalability with Sales Mapping
Data-Driven Marketing Offers Huge Benefits for Landscapers
What Role Does Big Data Have on the Deep Web?
  • How many times a user resets their password
  • IP address when a user logs into your website/app
  • Last email communication date to your customers
  • Mobile handset type, or web browser version
  • Free text feedback on a hotel stay or recent flight
  • Additional passengers or guest names on a ticket or hotel room

These data points or features are often overlooked by marketing teams as serving any useful purpose, as there is a perception that this type of information is only collected for compliance, fraud or regulatory requirements.

infographic by lucidworks

 

- Advertisement -

How can you turn dark data into active, revenue generating data?

This is where data science, marketing, and business intelligence need to get their heads together to find new ways of activating dark data to provide new opportunities for the organization. While dark data can appear dull and uninteresting on the surface; there are methods to turn it into highly granular, rich customer insights.

Here are a few key steps to get you started on the above examples:

  1. Log-ins to your website or mobile application, what city/country are the IP addresses? Are you logging each location a user visit and creating a virtual map of their travels? This is particularly compelling when creating a 360-degree view of your customer.
  2. Additional passengers/guest names on a reservation. Not only does this give insight to homophily of the user and fuel your social network graph of which users are centrally connected and influential, but it also provides rich insight into their family and workplace. Link this data with social graphing, and you’ll quickly obtain age, gender, and behavioral traits.
  3. Mobile phone data. This simple piece of data will illuminate an array of new product and marketing opportunities, and provide an additional segmentation layer to improve marketing effectiveness. From mobile phone data, it’s possible to know which telco partners you should bring on board (which will activate even MORE opportunities), you’ll know where your users are in the world, in real time if they have recently purchased tickets with another airline, and more.
  4. Free text input, such as feedback can be passed through cognitive text analysis tools to determine if the general sentiment of the feedback is positive of negative. Linking the user profile to your internal database can also determine if this user is sending mixed messages on social media compared to surveys and feedback forms.

Dark data can be a tremendously powerful weapon when executed. It’s the key to finding new insights, creating new revenue opportunities, developing new partnerships and shifting your business into the data-driven century.

 

- Advertisement -
Mark Ross-Smith December 29, 2016
Share this Article
Facebook Twitter Pinterest LinkedIn
Share
By Mark Ross-Smith
Follow:
Asia's #1 Airline Loyalty Data Expert.Formerly the Head of Loyalty with Malaysia Airlines & CEO in telco and hospitality businesses. Now helping travel organisations drive incremental revenue through big data & loyalty.
- Advertisement -

Follow us on Facebook

Latest News

cloud-centric companies using network relocation
Cloud-Centric Companies Discover Benefits & Pitfalls of Network Relocation
Cloud Computing
construction analytics
5 Benefits of Analytics to Manage Commercial Construction
Analytics
database compliance guide
Four Strategies For Effective Database Compliance
Data Management
Digital Security From Weaponized AI
Fortifying Enterprise Digital Security Against Hackers Weaponizing AI
Security

Stay Connected

1.2k Followers Like
33.7k Followers Follow
222 Followers Pin

You Might also Like

construction analytics
Analytics

5 Benefits of Analytics to Manage Commercial Construction

5 Min Read
Digital Security From Weaponized AI
Security

Fortifying Enterprise Digital Security Against Hackers Weaponizing AI

11 Min Read
data visualization for small business
Data Visualization

Data Visualization Boosts Business Scalability with Sales Mapping

7 Min Read
landscape marketing secrets
Big Data

Data-Driven Marketing Offers Huge Benefits for Landscapers

8 Min Read

SmartData Collective is one of the largest & trusted community covering technical content about Big Data, BI, Cloud, Analytics, Artificial Intelligence, IoT & more.

ai is improving the safety of cars
From Bolts to Bots: How AI Is Fortifying the Automotive Industry
Artificial Intelligence
giveaway chatbots
How To Get An Award Winning Giveaway Bot
Big Data Chatbots Exclusive

Quick Link

  • About
  • Contact
  • Privacy
Follow US

© 2008-23 SmartData Collective. All Rights Reserved.

Removed from reading list

Undo
Go to mobile version
Welcome Back!

Sign in to your account

Lost your password?