Big Data Monetization Lessons from the Sharing Economy

Big Data and Analytics, Innovation

Big Data Monetization Lessons from the Sharing Economy

29 Oct , 2015  

The rapid and impressive rise of Uber and Airbnb in revolutionizing the car service and lodging industries is a testament to the rise of the “sharing economy.” In the sharing economy, assets that are traditionally owned and utilized by a single person for a single purpose, such as a personal car or personal apartment, are […]

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College Football: Lessons in Big Data and Data Visualization. Who’s Your Fan?

Big Data and Analytics, Innovation

College Football: Lessons in Data Science, Data Visualization & Big Data

8 Oct , 2015  

Things are a bit different this Fall at Northwestern University, and it feels great! The Wildcats are undefeated and ranked ahead of Michigan, who they will meet on Saturday in one of the biggest games for the Wildcats in recent memory. Yet, Michigan is favored in the game. Go figure.  College football offers us a […]

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Data Visualization of the NFL and its Fan Base

Big Data and Analytics, Innovation

Data Visualization of the NFL and its Fan Base

6 Oct , 2015  

With the NFL season in full swing, I thought I would share a graphic that impressed me. It shows how Data Visualization and the power of Data Science can help us understand more about our lives and things we enjoy. It was developed by Sean Taylor of the Facebook Data Science Team, and credits go […]

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From raw data to real dollars, Russell Walker’s new book shows how to monetize big data

Big Data and Analytics, Innovation

From raw data to real dollars, Russell Walker’s new book shows how to monetize big data

27 Sep , 2015  

By Cheryl SooHoo How do you turn your company’s big data into big bucks? First think big and then bigger about the value of your data, says Russell Walker EMP 64, clinical associate professor of Managerial Economics & Decision Sciences at Kellogg. “Your data doesn’t jump out and say, ‘Hey, I am worth hundreds of […]

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Monetizing Big Data For Big Profits: It Takes More Than Algorithms

Big Data and Analytics, Innovation

Monetizing Big Data For Big Profits: It Takes More Than Algorithms

12 Sep , 2015  

The process of monetizing Big Data is really an exploration, driven by experimentation and identification of value. Here are a few points to keep in mind: 1. Look for Patterns in the Data – before trying to find the needle in the haystack, look for the patterns that describe customers, markets and operations that are […]

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Big Data Monetization Lessons from Zillow

Big Data and Analytics, Innovation

Big Data Monetization Lessons from Zillow

10 Sep , 2015  

The real estate industry has gone through a massive transformation as new real estate websites such as Zillow (and Trulia now owned by Zillow, and Redfin) have brought together Big Data sets on available properties, home buyers, and home sellers. These firms have, in the process, showed us that important lessons and best practices in […]

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The Importance of Data Visualization and Automation in the Realm of Big Data

Big Data and Analytics, Digital Strategy

The Importance of AI, Data Visualization, and Automation in the Realm of Big Data

24 Aug , 2015  

The Importance of AI, Data Visualization, and Automation in the Real of Big Data The heralded economist and Nobel Laureate Herbert Simon is known for saying, “A wealth of information creates a poverty of attention and a need to allocate that attention efficiently among the overabundance of information sources that might consume it.”[1] Indeed, our […]

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Driving Product Sales with Big Data: Amazon’s Threat to Retail

Big Data and Analytics, Digital Strategy

Driving Product Sales with Big Data: Amazon’s Threat to Retail

20 Aug , 2015  

Major consumer-package-goods firms (CPG), like Kraft, Nestle, Coca-Cola and PepsiCo have always operated with a blind spot about customers. This has always made marketing challenging. Although their products were often ingested by consumers, they rarely if ever met customers. CPG firms rarely knew their identify of customers and even at times had a poor understanding […]

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Big Data, Open Data, and the Asymmetry of Information

Big Data and Analytics, Digital Strategy

Big Data, Open Data, and the Asymmetry of Information

12 Aug , 2015  

Big Data, Open Data, and the Asymmetry of Information Anytime you own an asset, be it a building, stock, bond, or even a race horse, you want to measure it and determine how its value has changed in the market. Often this process is consider Asset Surveillance. We might think about it as how firms […]

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Serious Big Data Lessons from the Ashley Madison Data Breach

Big Data and Analytics, Digital Strategy

Serious Big Data Lessons from the Ashley Madison Data Breach

9 Aug , 2015  

Big Data Lessons from Ashley Madison: Privacy Implications and Data Monetization Strategies The recent hacking of user data from the match-making site, Ashley Madison has brought into focus a few important lessons that we should consider about how Big Data and our digital trails that are now incessantly monitored. Privacy is a Lost Privilege The […]

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