By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
SmartData Collective
  • Analytics
    AnalyticsShow More
    predictive analytics in dropshipping
    Predictive Analytics Helps New Dropshipping Businesses Thrive
    12 Min Read
    data-driven approach in healthcare
    The Importance of Data-Driven Approaches to Improving Healthcare in Rural Areas
    6 Min Read
    analytics for tax compliance
    Analytics Changes the Calculus of Business Tax Compliance
    8 Min Read
    big data analytics in gaming
    The Role of Big Data Analytics in Gaming
    10 Min Read
    analyst,women,looking,at,kpi,data,on,computer,screen
    Promising Benefits of Predictive Analytics in Asset Management
    11 Min Read
  • Big Data
  • BI
  • Exclusive
  • IT
  • Marketing
  • Software
Search
© 2008-23 SmartData Collective. All Rights Reserved.
Reading: Ring in the New Year with New Data Products
Share
Notification Show More
Latest News
ai digital marketing tools
Top Five AI-Driven Digital Marketing Tools in 2023
Artificial Intelligence
ai-generated content
Is AI-Generated Content a Net Positive for Businesses?
Artificial Intelligence
predictive analytics in dropshipping
Predictive Analytics Helps New Dropshipping Businesses Thrive
Predictive Analytics
cloud data security in 2023
Top Tools for Your Cloud Data Security Stack in 2023
Cloud Computing
become a data scientist
Boosting Your Chances for Landing a Job as a Data Scientist
Jobs
Aa
SmartData Collective
Aa
Search
  • About
  • Help
  • Privacy
Follow US
© 2008-23 SmartData Collective. All Rights Reserved.
SmartData Collective > Software > Hadoop > Ring in the New Year with New Data Products
AnalyticsCommentaryExclusiveHadoopMapReduceOpen Source

Ring in the New Year with New Data Products

paulbarsch
Last updated: 2012/01/05 at 3:29 PM
paulbarsch
4 Min Read
SHARE

For web-based businesses, and of course, those with a web presence (which is just about everyone) there’s a goldmine of behavioral data accessible with the right tools. The trick is getting past static web analytic reporting (bounce rates, page views, session times etc.) and going further into unlocking the rich treasure trove of machine data, text and weblogs that create “big data” insight.

For web-based businesses, and of course, those with a web presence (which is just about everyone) there’s a goldmine of behavioral data accessible with the right tools. The trick is getting past static web analytic reporting (bounce rates, page views, session times etc.) and going further into unlocking the rich treasure trove of machine data, text and weblogs that create “big data” insight.

In your business, gigabytes if not terabytes of multi-structured data are likely just waiting to be coupled with your imaginative thinking and analysis to create new data products that ultimately help drive customer interactions and revenues

More Read

utlizing big data for business model

Utilizing Data to Discover Shortcomings Within Your Business Model

Small Businesses Use Big Data to Offset Risk During Economic Uncertainty
The Importance of Data-Driven Approaches to Improving Healthcare in Rural Areas
How Big Data Is Transforming the Renewable Energy Sector
How Pictographs Make Technical Data More User Friendly

For example, take a look at what LinkedIn is doing in creating new “products” with data they collect and analyze with a MapReduce approach and other techniques.

According to a recent whitepaper “Building Data Science Teams”, LinkedIn’s former Chief Data Scientist shows how smart thinking can be paired with compute power and huge quantities of multi-structured data to create innovative new products such as:

  • Products that provide personalized content (which makes customers feel products/services are handpicked for them based on their wants/needs)
  • Products that drive the company’s value proposition (For LinkedIn, it’s their “People You May Know” or “Jobs You May Be Interested In” algorithms which drive further customer engagement)
  • Products that facilitate an introduction to other products (to funnel customers into other relevant areas of your website and thus lower your bounce rates)
  • Products that prevent dead ends (ex: smart algorithms that suggest other potential purchases, i.e. “People like you also bought…”)

And of course, many of the above “products” are more than simply focused on nebulous metrics such “customer engagement”—they can directly tie to revenue improvements.

There are even opportunities to drive news cycles with unlocked insights. Companies such as LinkedIn can use information gleaned from their web server farms to build press releases such as:  “Top Ten Phrases Recruiters Want to See” or “Top Ten Job Growth Areas in the United States”.  These kinds of press releases are interesting to local newspapers, bloggers and media outlets, especially if there’s a unique angle relevant to readers/viewers.

There are plenty of companies turning to outside firms, crowds, and even their own customers for innovation. And there’s certainly nothing wrong with any of these approaches. However, those approaches may be trying too hard – especially when there’s a goldmine waiting to be unleashed just a few web servers away.

TAGGED: big data, hadoop, linkedin, MapReduce, multi-structured data, web analytics
paulbarsch January 5, 2012
Share this Article
Facebook Twitter Pinterest LinkedIn
Share

Follow us on Facebook

Latest News

ai digital marketing tools
Top Five AI-Driven Digital Marketing Tools in 2023
Artificial Intelligence
ai-generated content
Is AI-Generated Content a Net Positive for Businesses?
Artificial Intelligence
predictive analytics in dropshipping
Predictive Analytics Helps New Dropshipping Businesses Thrive
Predictive Analytics
cloud data security in 2023
Top Tools for Your Cloud Data Security Stack in 2023
Cloud Computing

Stay Connected

1.2k Followers Like
33.7k Followers Follow
222 Followers Pin

Sign Up for Our Newsletter

Subscribe to our newsletter to get our newest articles instantly!

[mc4wp_form id=”1616″]

You Might also Like

utlizing big data for business model
Big Data

Utilizing Data to Discover Shortcomings Within Your Business Model

6 Min Read
big data use in small businesses
Big Data

Small Businesses Use Big Data to Offset Risk During Economic Uncertainty

7 Min Read
data-driven approach in healthcare
Analytics

The Importance of Data-Driven Approaches to Improving Healthcare in Rural Areas

6 Min Read
big data transforming renewable energy sector
Big Data

How Big Data Is Transforming the Renewable Energy Sector

6 Min Read

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

data-driven web design
5 Great Tips for Using Data Analytics for Website UX
Big Data
AI and chatbots
Chatbots and SEO: How Can Chatbots Improve Your SEO Ranking?
Artificial Intelligence 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?