Tech startups face a real conundrum when it comes to giving processing and presenting data.
A data contractor working on behalf of the Republican National Committee earlier this month allowed the personal data of 198 million voters to be exposed online, marking the largest ever leak of voter data in history. Deep Root Analytics exposed 1.1 terabytes of sensitive information — including names, home addresses, dates of birth, phone numbers and voter registration information.
I don’t know why more subscription vendors don’t do this. Subscription companies collect mountains of data from their customers, and analyzing the aggregations can deliver profound insights virtually for free. Yet too often subscribers are reluctant to let their data be stripped of identifying characteristics and used for research. Too bad, because there’s gold in that big data.
There’s a big difference between B2C and B2B analytics that no vendors seem to be addressing, and it involves the consumption model. I recently spoke with K.V. Rao, founder and chief strategy officer of Aviso, an analytics company focused on sales, and his unabashed opinion is that “if you’re trying to expose insights and make things consumable, you have to address workflow.”
One of the foundational ideas of business is the Pareto analysis, which tries to identify the small portion of factors that are responsible for the majority of business results. You know — 80 percent of profits come from 20 percent of the customer base, and similar observations. Vilfredo Pareto formulated a business classic that we now refer to simply as “the 80/20 rule.”
Here are five of those mistakes, just to start. Interested yet?
The massive amount of data available from connected devices creates an unprecedented opportunity for increased optimization of products and services — and, consequently, revenue. The deep investment in big data gathering and analytics is fueled by an ability to create added value for companies based on actionable business insights, and for consumers by providing lifestyle benefits.