One of Kontagent’s clients, the CEO of a top social and mobile game publisher, recently commented: “When you’re learning how to ski, you learn pretty quickly that whatever direction you’re looking is the direction your skis ultimately will take you down the mountain. The same holds true for data: You really need to make sure the metrics you are looking at from the start are the ones that are most important to your business’ success. That is inevitably where your business will focus.”
That seems like a simple concept, but it’s also incredibly insightful, particularly when it comes to big data.
The business world has been abuzz about the ability to process petabytes of data at incredible speeds and ultimately leverage it for increased efficiency, engagement and profitability. The gaming industry, in particular, has been very good at turning big data into meaningful insights.
Other industries should take some notes from their counterparts at Zynga, Popcap, Playdom and other successful gaming studios that have figured out how to scale their businesses more efficiently. It’s been reported that the health care industry could see an additional $300 billion in value by leveraging big data. And, the retail industry could create efficiencies that lead to a 60% increase in operating margins. These are much bigger industries than gaming, with far-reaching outcomes if they can actually put big data driven decision-making to action.
So, what are some of the lessons learned that can enable organizations to effectively use big data to improve their businesses? Here are seven that we’ve witnessed firsthand here at Kontagent.
1. Decide on your key performance indicators (KPIs) upfront
If you don’t have the expertise to properly define these indicators out-of-the gate, enlist some help from service providers who have experience in building data science infrastructure. Then, operate your business around those KPIs.
Read the entire article at Mashable: 7 Tips for Leveraging Big Data
About the author: Dan Kimball is Kontagent’s CMO and resident storyteller. His drive to make sense of complex concepts and solutions comes from his unique background in philosophy, quantitative research and brand marketing. You can contact Dan at: @dmkimball05.