Monthly Archives

September 2015

Data in the News for the week of September 28, 2015

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News of interest this week: First public map of US internet lines could spark talks about security * IBM Watson is gaining a second home on the west coast as well as new cognitive computing capabilities * Google plans to help over 10 million people get internet access by putting wi-fi in 400 train stations in India * and more.

 

Are you looking to purchase data or possibly figure out how to monetize the data you currently own? Contact us today and let’s discuss your options!

Venture Development Center (VDC) is an advisory services firm that assists its clients in identifying, defining, and implementing breakthrough uses of Big Data. The VDC success story is based on the unique ability of the organization to identify new and powerful data assets from the Big Data ecosystem and then develop applications and information use cases that drive solid revenue results and transform existing business practices. The practice areas that characterize VDC projects include creating new products and revenue streams for data owners and bringing forth new information assets and strategies to educate and assist data users to adapt to the rapidly changing world of Big Data.

Big Data is Shaping Healthcare

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Big Data is Shaping Healthcare

Big data lies at the heart of every industry, and healthcare is no exception. While data collection and analysis can help other businesses sell more product or optimize workflow, utilizing data in the medical field has the potential to save lives and help patients become healthy again.

Prevention

Before someone even steps foot in a hospital, big data can help people live healthier lives. Every day, we log information about our health online. Whether it’s keeping track of our diet using a digital journal, or maintaining a fitness schedule with the help of an app, data is being generated about our health habits.

Analysts can use this data to make predictions and provide preventative care for people deemed at risk, based on what the numbers are showing. Will the help of their doctors, this data can help people live a healthier lifestyle and avoid potential health problems in the future.  

Personalized Medicine

As personal data becomes more abundant, researchers can begin tailoring medical treatment on a patient by patient basis. Personalized medicine is a fairly new concept in the medical field, and one that faces many challenges ahead, but by using each person’s unique genetic code, doctors and patients can decide which method of treatment is best for them. Everything from drug dosage, to physical therapy, and preventative care can be customized.

This could usher in a new age of medical treatment, one that is less expensive and more helpful to the patient. Personalized medicine has a long way to go, but the amount of data that the human body can produce can lead to great benefits if analyzed properly.

Tracking Diseases

Big data played a major role in tracking the Ebola outbreak in 2014. By tracking mobile data, hospital records, media reports, and social media, analysts searched for patterns that could help track the virus and warn countries if it was headed their way.

Researchers have also turned to data analytics in order to better understand diseases in an attempt to find a cure. Clinical trials as well use data to help develop new treatment options for patients. Information is more accessible and available than ever before, especially since everything is being recorded electronically.

By using numbers and patterns found in data sets, the future of the healthcare industry has a bright future ahead. Customized treatment options, flourishing research, and the potential for lower cost healthcare are all on the horizon if big data is used correctly.

Venture Development Center is a full service data consulting firm. If you have any questions, or are wondering how we can make big data work for you, get in contact with us and we’ll be glad to help you out.

Data in the News for the week of September 21, 2015

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Big Data stories in the news this week: Facebook is finally developing a ‘Dislike’ button * LiveRamp’s new ‘Customer Link’ service links a customer’s online and offline data * Under Armour and Sports Authority are working together to use fitness data to foster customer loyalty * and more.

 

Are you looking to purchase data or possibly figure out how to monetize the data you currently own? Contact us today and let’s discuss your options!

Venture Development Center (VDC) is an advisory services firm that assists its clients in identifying, defining, and implementing breakthrough uses of Big Data. The VDC success story is based on the unique ability of the organization to identify new and powerful data assets from the Big Data ecosystem and then develop applications and information use cases that drive solid revenue results and transform existing business practices. The practice areas that characterize VDC projects include creating new products and revenue streams for data owners and bringing forth new information assets and strategies to educate and assist data users to adapt to the rapidly changing world of Big Data.

Charlie Stryker spoke at LiveRamp RampUp! Asia Summit

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Charlie Stryker spoke at LiveRamp RampUp! Asia Summit

September 17, 2015  – Charlie Stryker, a leading innovator in the data business and advisor to dozens of the most prominent corporations who capitalize on data resources for business intelligence and marketing, participated in a panel discussion at LiveRamp’s RampUp! Asia summit in Tokyo, Japan. The panel, moderated by Warren Jenson, CFO of Acxiom was focused on Trends & Visions,a look at the future of digital advertisement and data driven strategies.

Charlie spoke about the changing environment of data driven marketing in the last 12 months. He discussed his best successes in the new world of data driven marketing. Additionally, Charlie shared his perspective on what causes companies to fail, as well as what to do while working in a country where third party data is not available. The panel ended with a short question and answer session.

About The Venture Development Center, LLC (VDC):

VDC is an advisory services firm with deep experience and contacts in the information services industry. VDC identifies information-based assets/sources, develops innovative product and distribution concepts, and creates business plans for their monetization.

At VDC, we are at the forefront of deciphering the value of those digital data assets and developing methodologies to bring them to market.  If your company uses business or consumer data for marketing, risk, buying behavior, social intelligence or analytics, VDC can assist your organization in securing the best data from the complex and ever changing digital ecosystem.

For more information, visit our website at www.venturedc.com or contact Lisa Yarrish at lyarrish@venturedc.com.

 

The Future of Big Data

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The Future of Big Data

Big data isn’t going anywhere. We’ve known this for a while. The amount of data that is being produced on a daily basis is staggering. From your desktop computer to your smartwatch and everything in between, we’re seeing more sources for data being produced than ever before. But where is it going, and what does that mean for the rest of us?

Everything Produces Data

In our day and age, data is produced everywhere we go. Our digital footprint traces us through web browsers, follows us into our cars, and comes with us when we work or play. Now more than ever our sources of data generation are ubiquitous parts of our lives. The mobile revolution, smart watches, and even the emerging field of virtual reality all increase the amount of data we can collect. The more we press on, the more data there’s going to be to sort through.

Job Creation

All of this data needs to be sorted and analyzed, which requires a job force that is currently in formation. With every technological revolution there is a new opening in the market, and the big data industry is only growing wider. Analysts, software developers, and consultants are all great opportunities for aspiring professionals looking to forge a new path.

Better Businesses

As companies become accustomed to utilizing data and implementing strategies based on their analytics, we’ll see the quality of businesses rise on both ends. Companies themselves will be able to operate smoother, find ways to cut out unnecessary expenses, and optimize work flow. Consumers will begin to see ads that are targeted specifically for them and speak to what they care about most, all while receiving a better end product.

Big data is very much in its infancy. As businesses begin adopting strategies that utilize data, you’re going to see a surge in this rising industry. The earlier your company gets involved, the better off you’ll be. As big data integration becomes a natural part of doing business, you’ll want to be ahead of the game before your competition.

Venture Development Center is a full service data consulting firm that specializes in optimizing data for your business. Feel free to contact us and we’ll be glad to answer any questions.

 

5 Uses for Big Data

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Here are 5 Uses for Big Data

Big data is changing our world. Thanks to the digital age we’re living in, we’ve seen an explosion of ways that big data is collected and utilized. In this blog, we’re going to take a look at just a small sample of the many ways big data can be used.

Better Consumer Experience

Good marketing always speaks directly to the individual. Thanks to big data, companies can understand their customer’s behaviors and practices in order to provide a better end user experience. Amazon is a great example of an online store that is always looking to enhance its relationship with its customers. Whether it’s by providing related items, suggesting products, or even custom advertising that is tailored to things you like, it’s all about making you, the individual, feel like the company understands you and fulfills your needs.

Optimizing Your Business

The other side of the coin is creating a better, more optimized business. Data can tell you where your weaknesses are, what can be trimmed down, or what needs to be expanded. Numbers coming from your consumers are also a great way to look at how your product is performing. This can clue you in on any changes you have to make to fit your users’ needs, which can improve your overall gross sales.

Politics

With every passing election season, campaign platforms are realizing the importance of big data. Being able to target specific voters with campaigns that speak to issues they care about is an invaluable leg-up when it comes to swing states. Many speculate that President Barack Obama’s 2012 re-election was thanks to the use of big data. By using specific data sets that highlighted age, gender, and location, his campaign was able to make targeted calls and email blasts to discuss issues they knew their voters cared about.

Additionally, the DNC was able to encourage more people to register to vote, as well as increase voter turnout among the demographic they wished to show up to the polls. This gave Obama’s campaign a major step up when it came to election day.

Improved Healthcare

The body is packed with information. A single strand of DNA alone contains an incredible amount of data that helps shape who we are. Medical researchers utilize big data not just in terms of individual traits and behaviors, but they’ll also look at demographic information to determine trends about diseases and health risks.

Medical professionals aren’t the only ones that can benefit from big data. Personal phones can be used to track fitness statistics with the help of apps such as FitBit or pedometers. The data gathered from these apps can help you make better personal decisions, and could also be disclosed to your doctor to be discussed during an annual physical.

Urban Planning

Big data is also shaping the way we live our daily lives, in our cities and towns, in regards to land use and environmental factors. A great example of this is the recent study that is using data to monitor the health of trees. By using images taken of treetops in Boulder, Colorado, researchers can study the impact of tree placement and how they’re being affected by buildings and roads. This allows them to gauge how effective conservation efforts are.

From major corporations, all the way down to your daily day to day activities, big data touches every aspect of our lives. If you take the time to understand it, it’s easy to find a way to make it work for you.

Venture Development Center is a full service data consulting firm. If you have any questions or comments about how big data can be used, feel free to contact us or leave a comment below.

Data in the News for the week of September 7, 2015

By | Big Data, Big Data Strategies, Blog, Data Management, Innovation, Social Web | No Comments



Big Data topics making the rounds this week: How Yelp is growing with Big Data * How the volume of data is changing segmenting for marketers * Phone fraud and robo calls * and more.

 

Are you looking to purchase data or possibly figure out how to monetize the data you currently own? Contact us today and let’s discuss your options!

Venture Development Center (VDC) is an advisory services firm that assists its clients in identifying, defining, and implementing breakthrough uses of Big Data. The VDC success story is based on the unique ability of the organization to identify new and powerful data assets from the Big Data ecosystem and then develop applications and information use cases that drive solid revenue results and transform existing business practices. The practice areas that characterize VDC projects include creating new products and revenue streams for data owners and bringing forth new information assets and strategies to educate and assist data users to adapt to the rapidly changing world of Big Data.

How to Analyze Data

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Analyze Your Data

You may know what big data is and how it can benefit your company, but all of that information is useless unless you understand how data should be analyzed. In this article, we’ll take a look at some ways data can be analyzed to become useful for your company.

Find out What Kind of Data You’re Looking For

The first step for analyzing data is to understand what it is you hope to find. Are you looking to expand your business or looking for trends that will tailor your next product? Maybe you want to start a content marketing campaign and want to know what demographic to hit. Before you begin analyzing, you have to have a starting point. It’s okay if you find other uses for your data sets that you didn’t expect to find, but it’s important to have a clear direction before you move forward.

Also look inward at your own business. What do you think needs improvement? Is there a department that could benefit from a better understanding of data? The more forethought you put into big data uses, the easier your analysis will be.

Have a Base Line

Before you even begin analyzing, you need to collect data. This process should begin the moment you are able to. The earlier back your data sets go, the easier it will be able to see how patterns have changed over time.

Once you establish a baseline to work with, you will be able to see what kind of impact you are having on your industry as you press forward. You can never get those base analytics back once you start moving, so make sure to record them as soon as you can.

The Tools

When you start looking at your data, you have to decide how you want to analyze it. If someone in your office is skilled with simple organizational programs such as Excel, you may be able to do a rough analysis of your data in-house. If you want a more thorough examination, you can look at local colleges or universities which are capable of handling much larger data sets.

Alternatively, you can find a data broker that specializes in data collection and analysis. They can also provide an advisory role to your business as they find and understand patterns in your data sets, or compare them to other “control” sets.

Qualitative vs Quantitative

When you start collecting data, you’ll notice that there are two kinds: Qualitative and Quantitative.

Quantitative data are the “hard numbers”. How many people purchased your product, what is the average age of your demographic, how many visitors came to your website – those are all number based. You can look at a statistic and build from there. These sets can easily be obtained by simply looking at data that is already available to you.

Qualitative data speaks to the quality of something. Someone’s physical reaction to an experience, their body language, how soft they consider a new couch – those are all describing qualities. In some instances, qualitative can be turned into quantitative, but that is subject to what kind of scale you establish ahead of time. Qualitative data can be obtained through direct means such as surveys in which a participant is asked to rank their reactions on a scale.

Which form of data is more important to you depends on what you hope to accomplish with your data, but both kinds have strengths that you can leverage during the analysis phase.

Find Patterns

When looking at a particular data set, you’re primarily looking for trends. If you have a specific statistic you’re looking for ahead of time, this will help guide your search. Be open to finding trends you weren’t expecting to find, or ones that run counter to what you anticipated.

Sometimes you’ll have to go back and collect more data before you see any patterns emerge. You can also swap data with another company, either inside your industry or not, as a way to have a look at another demographic or find a control set you can compare to.

Analyzing data can be a daunting task. Venture Development Center is a full service data consulting group that is ready to answer any of your questions. Feel free to leave a comment below, or contact us!

Have any tips for analyzing data? Leave them in the comment below!