In a parody of Start Trek, Silicon Valley technology companies describe their business goal as “Scale, the final frontier…”. Mid-market companies, defined as those having 100-2500 employees, may indeed provide an opportunity to emerging technology vendors to scale their business. According to Techaisle, a market research firm, these 800,000 global companies spend $300B on IT and are sought after by technology vendors big and small. In the last decade, technologies such as Cloud, SAAS and Virtualization have reached scale with a large number of mid-market companies as early adopters. Intuit, Salesforce.com, NetSuite and Amazon are just a few examples of companies who have relied upon mid-market companies as a key building block for their business.
What does this mean for Big Data? To find out, Carpe Datum Rx spoke to “SMB Guru”, Anurag Agrawal, CEO of Techaisle and the former Head of Worldwide Research Operations at the Gartner Group. Techaisle recently talked to 3,300 global businesses about their Big Data adoption plans. Here is an excerpt from our discussion.
The SMB Market is considered the Holy Grail for technology vendors because it is hard to penetrate. Does your research show that mid-market companies will adopt Big Data before large enterprises do? Are they the early adopters of this technology? Read more
In an episode of Mad Men, Don Draper talks about pitching the Kodak Carousel. “Technology is a glittering lure, but there is the rare occasion when the public can be engaged on a level beyond flash, if they have a sentimental bond with the product….Nostalgia. It’s delicate but potent. Switch it on.”
Combine the storytelling prowess of Don Draper with the high-pitched vitriol of Jim Cramer and add a dose of emotional intelligence to get Gary Vaynerchuck, social media guru, best-selling author, wine librarian and marketer par excellence of the internet age. Gary Vaynerchuck rose to prominence in social media a few years ago with his video log, wine library tv which he used to grow his family wine store into a mulit-million dollar business. He currently runs VaynerMedia, a social media strategy and production company.
Gary is an avid supporter of the use of quantitative analytics in marketing. Carpe Datum Rx caught up with Gary to ask him a few questions about big data, marketing and technology adoption in the enterprise. Here are his paraphrased comments.
Is Big Data ready for the 99 per cent ?
Brooks Brothers is investing in tools & testing to improve the online experience – and ↑sales. In a test involving one product category page: men’s shirts. The retailer using Bazaarvoice Ratings & Reviews software, used customer reviews to sort items on the product page. Items with five ♥♥♥♥♥- the highest rating – appeared on the top of the page. The result: a 9% lift in conversions [Adobe Digital Marketing Symposium]
Are you ready to anticipate and influence your audience in a whole new way? Value migration from traditional marketing to 24×7 digital marketing is happening in leading firms. Real-time marketing and conversion is now becoming possible.
Interestingly these are more related than you think.
The Federal Reserve wants to develop a next generation Consumer Listening Platform based on social media sentiment analytics (or opinion mining) to know what people are saying and commenting about the economy.
The goal for the Fed is to better understand which way consumer confidence is trending. Microeconomics and psychology have always been interlinked. With social media, a real-time opportunity exists to monitor local, national and even global consumer psychology. And, coupled with analyzing e-commerce transactions, insightful linkage between consumer psychology and behavior (what they are spending money on and where) is possible. Read more