Changes Big Data And Technology Have Brought Into The Retail Industry

April 3, 2013

There was once a time when retailers relied on large spreadsheets to keep track of things. Critical employees had to fly around in order to find the best products and maintain the best inventory. Today, the scenario is totally different. Big Data has played a large part in the changes witnessed in the retail industry.

Some have adapted well to the changes (some have even taken advantage of the changes) and some have struggled with them. Marianne Bickle (Contributor, Forbes.com), looks at some of the changes that Big Data and technology have brought about…

1. Retailers are finding it more difficult to make predictions. This might actually come as a surprise to many considering that Big Data actually empowers retailers to pinpoint what a particular customer wants. What many people do NOT realize is that it is “a two-edged sword.”

A consumer group might be lost simply because they have moved to a different mobile device which isn’t supported by their current retailer. In this case, it might be difficult to predict how many customers you’ll lose (or have lost).

2. Poor customer experience reports now spread like wild fire. It’s no longer the case of one unhappy customer telling ten other people. With social media, it could be a few millions before your company prepares an official position. There are instances of viral videos that have “hurt” businesses.

3. Trends are changing faster and businesses have many more tools that can help them gather vital information about the trends (Twitter, Facebook, email, etc).

4. It is now critical that the analysis of data provides insight into why and how consumers buy a particular product. Such analysis should also provide their demographics and psycho-graphics. Otherwise, money spent on advertisement will be a waste.

To read the rest of this article, go here…


AMEX PAY-BY-TWEET SOCIAL COMMERCE SERVICE GETS AN UPGRADE [VIDEO]

March 7, 2013

Love this idea, could be really good for store cards as well especially if the profile of the shoppers was ‘twitter friendly’

Last year American Express trialed a Twitter-based social commerce service, enabling Amex cardholders to get discounts on purchases made with their card (synced to their Twitter account) if they tweeted about them (using a hashtag). The discount was applied directly to their Amex statement.

Today, Amex has upgraded this save-by-tweet into a pay-by-tweet service, emulating a similar service offered by Chirpify.

Here’s how it works, Amex cardholders sync their Amex card with Twitter at sync.americanexpress.com/twitter. Then, when Amex/Amex retailers offer deals (published in the @AmericanExpress Twitter feed), cardholders can buy them by simply tweeting the deal’s special hashtag – e.g. #BuyAmexGiftCard25. This effectively promotes the deal – and Amex cards – to all the cardholders followers. To avoid errors, Amex tweets back to the user (@username) to check they want to buy, and the user must confirm with a tweet reply within 15 minutes. The cardholder’s card is debited, and the purchase sent out.

The upgraded Amex pay-by-tweet service is launching next Monday in the US and going live with a deal for Amazon Kindle Fire HD for $150 and an Xbox 360 4GB console with a three-month Xbox Live subscription for $180.

So will it work? The Amex pay-by-tweet initiative is part of a broad industry move for financial services companies to get more intimately involved with e-commerce. For example, the world’s second largest lender. China Construction Bank is reinventing itself as a fully-fledged e-commerce portal that is home to thousands of vendors, big and small. And Twitter powered commerce has precedent, Innovative Thunder’s free-for-a-tweet (paywithatweet.com) service has been popular – winning a marketing award at Cannes, whilst PayPal-connected Chirpify has long allowed consumers to buy and sell directly in-stream Twitter (and Instagram).

But linking payment cards to social media accounts has had a rocky history. Remember Blippy, and the original Swipely? That didn’t end to well; surprisingly (not) people didn’t want to share their payment card purchases with the world.

Perhaps times have changed, but the Amex Sync service on Twitter will only succeed if the deals are really great – worth talking about, and there is a cast iron guarantee that if an account is hacked – or “borrowed” by your sister – the user will not be responsible for unauthorised purchases.

What do you think – would you buy with a tweet?


GroupOn CEO’s farewell note

March 6, 2013

Andrew Mason, former CEO of GroupOn, sent out this e-mail in his farewell address:https://www.jottit.com/v5wux/. At the end he says: “My biggest regrets are the moments that I let a lack of data override my intuition on what’s best for our customers.”

I find what Mr Mason said interesting for a number of reasons:

1) As the once darling on a rapidly expanding sector and with it what seems resources that we can only dream of, you would imagine that he would have had access to some of the most sophisticated intelligence tools available and this aligned to what should be volumes of quality data. So his intuition should at this stage be only confirmed.

2) Is the data that is being created have any value or are organisations blinded by the sheer volume and cannot in anyway extrapolate true business value

Anyway I wish him the best of luck in the future.


What is really at risk that we need to protect it ???

February 25, 2013

The most important thing you can identify is re-think the way you look at data and security. You must understand what is really at risk and then protect it.  Below are five key principles that you must remember when it comes to protecting your data:

Fit your PC with “Lock” to protect your privacy now!

1.    ALL data has value.
No matter how harmless or insignificant a bit of information may seem, it can probably be used by someone and they are willing to pay for it.

2.    Data” means all communication or information.
This may include many things that some may not have considered data such as VoIP calls, e-mails, etc.

3.    You must assume all data sent in the clear can be easily collected, mined replicated and stored.
Over time, mass amounts of data can be collected and sifted through to gain a pretty good view of an organization.

4.    Once stolen, data can be sold and used repeatedly by multiple people or groups.
Just because your data is stolen once, doesn’t mean it will only be used once.

5.    Security measures should focus on protecting “the thing of value” rather than preventing “events”.
You can’t predict how, when or where an event will take place. This type of defense is always reactionary. Sometimes the event is undetected.

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Hacks at Twitter, New York Times, WSJ and Washington Post highlight need for better security hygiene

February 4, 2013

Earlier tonight, I received an email I would just as soon not have gotten from Twitter, along with 250,000 Twitter users who had their password reset. Twitter security director Bob Lord explained why I’d received the email on the company blog:

“This week, we detected unusual access patterns that led to us identifying unauthorized access attempts to Twitter user data. We discovered one live attack and were able to shut it down in process moments later. However, our investigation has thus far indicated that the attackers may have had access to limited user information – usernames, email addresses, session tokens and encrypted/salted versions of passwords – for approximately 250,000 users.”

Mike Isaac has been following the story the hack at Twitter at AllThingsD, if you want the latest news tonight.

After the password reset, I went through revoked Twitter authorization access to a number of unused apps, something I’ve been doing periodically for years now. That habit is among Twitter’s security recommendations.

I’m thinking about other social media accounts now, too. Shortly after Nicole Perloth began covering IT security for the New York Times, she shifted her practices:

“Within weeks, I set up unique, complex passwords for every Web site, enabled two-step authentication for my e-mail accounts, and even covered up my computer’s Web camera with a piece of masking tape — a precaution that invited ridicule from friends and co-workers who suggested it was time to get my head checked.”

She talked to two top-notch security experts and wrote up a useful list of good digital security practices. Unfortunately, it may be that it takes getting hacked and embarrassed (as I was on Twitter, on Christmas Eve a couple years ago) to change what how people approach securing their digital lives.

I don’t recommend that sort of experience to anyone. I was lucky, was tipped nearly right away and was able to quickly get help from the remarkable DelHarvey, head of the Twitter Safety team.

It could have been much, much worse. I’m thinking of Mat Honan, a Wired journalist who experienced an epic hacking that came about through a chain of  compromised accounts at Amazon, iTunes, Gmail and Twitter. After a lot of work, Honan managed to recover his data, including some precious pictures of his child. In the wake of the hack, he turned on 2-factor authentication on Google and Facebook, turned off “Find my” Apple device, and set up dedicated, secret accounts for password management. Honan isn’t alone in the tech journalist ranks: he just happens to have a bigger platform than most and was willing to make his own painful experience the subject of an extensive story.

A jarring reality is that even people who are practicing reasonably good security hygiene can and do get p0wned. Unfortunately, the weakest point in many networks are the humans — that’s reportedly how Google ran into trouble, when key employees were “spear phished” during “Operation Aurora,” targeted with social engineering attacks that enabled hackers to access the networks.

The last paragraph of Lord’s post suggests that a similar expertise was at work at Twitter, although he does not specify a source.

“This attack was not the work of amateurs, and we do not believe it was an isolated incident. The attackers were extremely sophisticated, and we believe other companies and organizations have also been recently similarly attacked. For that reason we felt that it was important to publicize this attack while we still gather information, and we are helping government and federal law enforcement in their effort to find and prosecute these attackers to make the Internet safer for all users.”

It’s been true for a decade but it’s even clearer in the second month of 2013: practicing basic information security hygiene is now a baseline for anyone else online, particularly those entrusted with handling confidential sources or sensitive information.

Chris Soghoian was clear about the importance of journalists and media companies getting smarter about keeping sources and information safe in 2011. Tonight, I am not sanguine about how much has changed since in the news industry and beyond.

Two days ago, the New York Times disclosed that hackers had infiltrated …the New York Times. The next day, The Wall Street Journal has disclosed similar intrusions. Earlier today, Brian Krebs reported that the Washington Post was broadly infiltrated by Chinese hackers in 2012. The Post confirmed the broad outlines of an attack on its computers.

If you’re a journalist & you’re not using a password manager+unique, long random passwords per website: stop, install and configure one now.

— Christopher Soghoian (@csoghoian) February 2, 2013

If you have a moment this weekend, think through how you’re securing your devices, networks and information. If you use Twitter, visit Twitter.com and update your password. If you haven’t turned on 2-factor authentication for Facebook and Gmail, do so. Update your Web browser and use HTTPS to connect to websites. disable Java in your Web browser. Think through what would happen if you were hacked, in terms of what numbers you would call and where and how your data is backed up. Come up with tough passwords that aren’t easily subject to automated cracking software.

And then hope that researchers figure out a better way to handle authentication for all of the places that require a string of characters we struggle to remember and protect.

Thanks to digiphile


Is Vine The Next Big Social Media Hit?

January 29, 2013

Last Thursday Twitter launched a new video sharing service called Vine.

Mentions of it started to trickle into my twitter feed over the weekend, but since yesterday I’ve been seeing #vineapp everywhere – so I thought it was time to take a look.

I’ve played with it for about 10 minutes so far and my first reaction is that it’s a lot like Instagram, but with videos.

You download the free app – at the moment it’s only available on Apple devices (but I’m sure it will roll out soon to android and windows).

The videos are six seconds in length and on a constant loop.

You can follow users, like videos, and share them to twitter and FB – in the same way as Instagram.

From a business marketing point of view; I think this will become very popular, very quickly, which means for now at least, it should be incorporated into your social media plan.

Although, I wouldn’t rush into it. The videos need to be innovative so that people will actually watch and share your content, otherwise it will be a huge waste of your time.

I would suggest having a good look through at the things that are being posted and ask yourself:

what is being liked?
which users are being followed?
what is the message that you want to get across?
how you can incorporate that message into a 6 second video?

Written by Michelle Jackson Rowe – get in touch via: hello@icetoeskimos.co. Find out more at: http://www.icetoeskimos.co


IBM’s fashion prediction, yes you heard correctly

January 18, 2013

Although IBM isn’t a brand known for its fashion sense, the company has predicted that fashion will take a retro-futuristic trend in 2013, with Steampunk being a major inspiration for brands. IBM made the prediction after measuring social sentiment and finding lots of chatter around the sub-genre, which is inspired by the clothing and technology of Victorian society.

Check out the full post at: http://www.psfk.com/2013/01/ibm-steampunk-2013.html

IBM Predicts Steampunk Will Be The Major Fashion Trend Of 2013


8 Insights About The Coming Era Of Interactive Design

January 15, 2013

Connecting is a short documentary by Bassett & Partners and Microsoft that explores how our lives (and our gadgets) have and will change in a more connected world. It’s 18 minutes long but very worth the time, as it features interviews with designers from Method, Twitter, Arduino, Frog, Stamen, Microsoft, and Nokia. What’s crazy, even with the magic of editing, is that so many of these talented perspectives tend to finish one another’s sentences.

As you watch, you’ll see a general consensus on a few really important points. They’d make a decent poster:

  1. Our phones demand too much attention, detracting from our real experiences.
  2. Analog metaphors are making less sense on digital devices.
  3. We’re waiting for new paradigms in experiencing media like text on screens.
  4. UX is a living, somewhat unpredictable thing. All experiences need to be fluid and flexible now.
  5. You shouldn’t just try to understand a product. You should try to understand its connected network.
  6. An “Internet of things”–countless connected sensors–is coming (and here).
  7. All of our information feeds into something larger than ourselves, a “superorganism” or “colony” of digital information.
  8. The hive mind got so big that greater Internet thought is now manifesting locally (think Egypt’s uprising or Occupy Wall Street).

http://www.fastcodesign.com/1671611/8-insights-about-the-coming-era-of-interactive-design


Mobility and Big Data: Why They Need Each Other to Thrive

January 9, 2013

Mobile devices and apps will generate seven exabytes of data by 2015, a number that will continue to double and perhaps triple each year. Not only are huge volumes of data/content being communicated through mobile networks, but there has been unexpected growth in related communications and transactions, such as:

  • Salesforce.com getting 60 percent of its “transaction volume” from mobile devices
  • Pandora delivering 60 percent of its music minutes to mobile devices
  • Facebook getting 30 percent of its traffic from mobile
  • Twitter getting 55 percent of tweets from mobile

This dramatic growth, coupled with low-cost, large-scale data architectures, is making it possible for “Big Data” to capture, analyze, and act in real-time to maximize the impact for business. But I would argue that big data and mobile are also intertwined, and the total societal impact of one depends on the other.

The unique benefits of mobile—ubiquity, immediacy, and relevance—are magnified by big data. To fully leverage these attributes, mobile solutions need to be location-aware (ubiquitous), real-time (immediate), and context-aware (relevant). Seventy percent of mobile apps are abandoned within the first two months after being downloaded, due in large part to the fact that they are not enterprise-class, not connected to the data and analytics that make them engaging, and therefore not leveraging the attributes of mobile. Big data is becoming a critical element in meeting these demanding expectations from the user.

Together, mobile and big data provide an opportunity to not only offer users convenience and utility, but to actually drive behavior change. A health insurance company, for example, might deploy a consumer-facing app that mashes up claims data with public health data and personal fitness/wellness data from other consumer apps. This creates the opportunity for powerful analytics to help guide the consumer to make better health decisions based on a real-time view of their current condition and available options.

Sustaining behavior change is critical to virtually every industry, whether it’s getting a patient to follow their prescribed therapy (only 70 percent do so in the U.S.), encouraging an employee to save more for retirement (there is only a 3.6 percent savings rate in the U.S.), or getting an energy customer to make more efficient decisions (the average U.S. household wastes 25 percent of its energy). This is where mobile and big data can play a significant role. By marrying context, personalization, and knowledge of potential actions/offers using mobile and big data/analytics, the impact of retail, healthcare solutions and beyond could be improved drastically.

Where big data is accelerating the sustaining of behavior change, it is also accelerating the convergence of people and objects. There are now nearly 10 billion things connected and only about half of them will be mobile phones. Yet up until now, the hundreds of millions of connected objects—truck fleets, environmental sensors, smart meters, etc.—were considered part of the closed “Machine-to-Machine” or M2M world. This is changing. Fueled by the integration of technologies such as Wi-Fi, Bluetooth, QR Codes, and NFC into mobile devices, we are lowering the barrier for people to interact with objects, and opening up a new category of innovations we call P2M, or “People to Machines.”

Very soon, we will not talk about mobility or big data but just real-time, personalized interactions that drive business impact, anywhere, anytime, on any screen. Now that’s powerful.

via Mobility and Big Data: Why They Need Each Other to Thrive | Xconomy.


Banks See Social Media as Big Data Opportunity

November 6, 2012

Last month I attended a digital advertising conference here in NYC which was swarming with social media benchmarking vendors. If you wanted to learn more about software that measures how your company or brand is faring on Twitter, Facebook, or Pinterest, then this was the place to be. These buzz-monitoring apps make perfect sense for consumer-focused product companies (sneakers, clothing, soft drinks), but I didn’t necessarily connect the dots between social media content and big data for financial service firms.

That is until I saw this article in American Banker on big data in the banking world. Specifically, BNY Mellon Bank ($1.4 trillion assets) is launching its own big data project, which will involve collecting and aggregating transactional information from customers across many different systems—their web site, ATM network, customer service, trading desks, and any other relevant interaction points.

The goal is to pull these separate data streams into a centralized data store, and then mine it to learn customer behaviors and preferences. The results will be fed back to their marketing department to help pinpoint customers who would most likely be interested in new bank offerings. BNY Mellon will also use this data to gain more complete awareness of customer needs in their future interactions with the bank.

It doesn’t stop there. BNY Mellon has extended the scope of its big data project beyond its own internal IT operations by harvesting content from the social world—blogs, Twitter, LinkedIn, and other online forums.

How much data can be found in Tweets and posts that would be useful for banks and financial companies?

This is hard to gauge. But according to an IDC report referenced in the American Bank piece, 1.8 trillion gigabytes of data was generated in 2012 with the majority of that considered unstructured social data.

These numbers for social data sound about right. Earlier in the year, Twitter reported its users were sending 340 million tweets per day. Doing a quick back of the envelope calculation—340 million x 140 x 365—I come up with at least 10,000 gigabytes of data just from Twitter alone. Then if you start adding Linkedin with its 175 million users and Facebook’s close to 1 billion users and the millions of active blogs out there, it’s easy to see how unstructured text from social begins to reach the volumes in the IDC range.

For large financial firms with millions of their own customers, filtering out, processing, and storing what’s relevant clearly falls in the big data solution space. The larger point is that banks are looking at this public data as an auxiliary treasure trove from which they can supplement their existing records with more granular details about their own customers, and even perhaps find potential new markets. Like everyone else they are also concerned about their brand and the buzz around it.

Lessons learned? Here’s one: even those companies most closely associated with large traditional fixed-field databases —in this case, a financial institution, but also consider, say, insurance, power utilities, and telecom carriers—will by necessity also have to deal with petabytes of content in order to complete the big data puzzle.


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