Analyst Debrief – Reports from McKinsey and Forrester
The “big data” buzz might not be going anywhere, but we believe “smart data” will take over soon. Whether you’re dealing with operational, surveillance, or any other kind of data and analytics, a scientific scrutiny has the potential to bring out valuable insights. Here at Unmetric, we work with “big” social media data. After running this data through advanced algorithms, we convert it to “smart data” by topping it off with the most crucial layer- the human touch.
In our pursuit of like-minded smart data geeks and social media partisans, we keep a keen eye on analyst groups such as Altimeter, Forrester, Gartner, McKinsey, Nielsen and others. Here are two reports from such analysts that iterate the value of Big Data and showcase the changing face of social media.
McKinsey explains how Big Data can improve Manufacturing
In spite of using the best technology, many manufacturing units do not work to their full capacity. A number of complex parameters affect production. McKinsey says manufacturers need a granular approach to diagnosing and addressing process flaws and that’s exactly where advanced analytics comes in.
Illustrating examples from a biopharmaceutical company, a chemical manufacturer and a precious metal mine, the report shows how applying analytics improved efficiency, and in turn increased revenue for these businesses. In conclusion, the article says that as data gains more prevalence, so will the practice of analytics. Check out the full report here.
Forrester explores what Facebook’s manipulation study means to brands
Facebook’s mood manipulation study has been widely criticized, but there is no denying that it has the power to change how social advertising works. Delving deeper in to this, Forrester analysts Nate Elliot and Fatemeh Khatibloo published a report, where they discuss the implications of Facebook’s study which possibly crosses ethical lines.
The researchers weigh the novel use of data that could change marketing significantly against the immediate user repercussions the social network could face. Read the blog post that leads to the study here.