Big Data: Why I Don’t Give a *&^%$#

I’m sure you’ve been inundated with articles, blog posts, tweets, and Facebook posts about big data.  And frankly, who cares?  The evolution of data is nothing new.  Marketers have been dealing with data since the Internet was established over a decade ago.  So why is “big data” a thing? 

The answer, in my humble opinion, is money.  Since the agenda of data has taken a front seat, so has data analytics software, management solutions, and even a myriad of start-up companies focusing on delivering data insights – again, nothing new.

I will admit that new technology is providing meaningful insights into data, but other than getting a better handle on attribution, I don’t see the point.  After a decade of consulting with clients, I can tell you that most businesses still don’t have a handle on basic marketing fundamentals such as simple KPIs or actionable dashboards. Whether it’s cost per lead, cost per acquisition, or lifetime value, many don’t have a clue. 

Surprisingly it’s not just the small business owner, even some of the larger companies haven’t implanted the fundamentals.  After looking under the hood of a number of these businesses, nothing really surprises me anymore.  I’ve seen SEO companies outsourcing their optimization services to third world countries, CMO’s asking for basics on how to run a Google Adwords campaign, and advertisers wondering how many leads are being generated from their spend. For them, the concept of big data is simply a distraction and nothing more than a waste of time.

Here’s What You Should Be Focused On

 My message today is to, “not believe the hype”.  A small company doesn’t need to spend $50,000 annually on a data analytics platform to gain valuable insights into their customers, sales funnel, or marketing ROI.  The best place to start is with your own business and the information that matters most. 

I’m still a fan of figuring out the critical data you need in order to run your business effectively, especially your marketing. Once you have a handle on the critical factors driving your business, you can find the analytics platform to get you there.  For years I’ve been using Google Analytics, for free I might add, and have improved the sophistication of my digital marketing and related programs ten-fold.

It would have been impossible to get everything I wanted out of Google Analytics if I first didn’t start with the data I needed and the specific outcomes I wanted to measure.  Sure, I may not be all that sophisticated when it comes to the dreaded concept of attribution, but honestly, I’m not spending millions across different platforms and attribution insights would likely cause more confusion than insight.  Looking at data the way I do, every day, and collaborating with others on my team gives me tremendous insight into what’s working and what’s not.

Big Data Is All About Micro-Data

The whole concept about big data is really a misguided.  It gives the impression that you need an understanding of large data sets and meaningful insights can only be gained at great expense. But this simply isn’t true.  For example, a single statistic like email open rate is probably one of the most important metrics needed for improving your email marketing program. 

If no one is opening your emails, big data and revolutionary insights aren’t going to change anything. Only by focusing on basic fundamentals and tactics like A/B split tests can move the needle.  If you’re using marketing automation or hosted email solutions, they already give you the option of testing multiple subject lines before distributing an email to your list.  How’s that for big data? … simply not needed.

Here’s the deal.  If you’re a marketing leader at a Fortune 500 company or running direct to consumer business spending tens of millions on marketing – across multiple platforms – then yes… I’ll admit the need for big data analytics may exist. But the reality is that for the majority of us, you’re better off focusing on marketing fundamentals (essential KPIs) instead of expensive, complex engines that will provide esoteric data you can’t do anything with.