Schonberger and Cuker talk about the huge volumes of data that is now being generated and give many examples of companies using big data for prediction. Proper use of big data can greatly increase insight and eliminate false predictions. According to one Amazon reviewer “We all seek smarter ways to find the most relevant information for our work and life so filtering messy amounts of big day will continue to be a popular kind of business service that will force sweeping changes in most all markets and professions.”
The book is not a how to book but rather a “what it is and the power of big data” book. It is an excellent primer for anyone who wants to stay ahead of technology.
At General Sentiment, we believe the title it right – big data will transform our thinking. General Sentiment is a Big Data company. We scan the internet everyday for all news, blogs, websites and tweets. The amount of data is huge.
General Sentiment is in the business of dealing with big data efficiently. And not only processing it but interpreting it. This is the sort of thing that only a computer can do. We are open and tell people how they could do it themselves. Simply read every mention about your company, products or topic and determine whether it is positive or negative. And also determine how positive or negative. Remove any results that appear to be “fake” so no one can “stuff the ballot box”. And then weigh ones that are more important than others (EG NY Times is more worthy of weight than my blog). Then compare these to competitors or compare them to 6 months or a year ago to see if sentiment is improving. And compare different regions – is sentiment better in Chicago than Miami etc.
Big Data allows for the new market research. It is instant. The sample size is huge. It is like having a focus group with 1,000,000+ people.
I wrote a post about the General Sentiment report on Blackberry 10 Daily Sentiment on my blog. I usually blog about things like CEO success habits, but I also do a lot of book reviews. I thought this book review was more appropriate on the General Sentiment blog.
Imagine being able to predict what will happen. Imagine having psychic powers to know what will sell or what stock will go up or down. This ability is becoming closer to reality than you may think.
Every so often, an application comes along that changes the way businesses function. For example, personal computers didn’t make much sense for business until word processing became easy and spreadsheet and accounting programs could be added onto the same hardware. Enter MediaMatch: a game changer in media.
It’s said that 50 percent of all advertising is wasted, but you never know what 50 percent to cut. So, brands just keep throwing money at it. Instead, focus your ad buy better. Here are 10 ways MediaMatch does that to help you save time, save money and increase revenue:
1) All rating points are no longer created equal. Shared affinities across brands and shows offer unique engagement insights and actionable information.
2) Agencies can provide a “brand rating point” for clients, leveraging MediaMatch to create engagement opportunities.
3) Break ratings ties by identifying larger populations amongst shared environments. In other words… Read more ›
When the “safe” bank loses $2B overnight, is it time for reform?
Jamie Dimon, CEO of JPMorgan Chase, crowned “America’s Least-Hated Banker” by The New York Times Magazine less than two years ago, took a major Sentiment hit following Thursday’s announcement that JPMorgan lost $2B in just six weeks due to a “mistake.”
That figure is still growing. The New York Times is reporting losses reaching $3B already, and the Wall Street Journal predicts the total could reach $5B before the full impact is felt.
Dimon claims these losses are due to a failed hedging strategy — not risky trading with taxpayer-insured dollars. However, calls for regulation have surged in the past few days.
If you have been paying attention to the news lately, then you must have heard about the $540M Mega Millions jackpot at least once. Major media outlets and social networks have been full of people’s wishes for richness. Would having half a billion dollars plopped on your lap overnight bring ultimate happiness? I would certainly argue that money is not the supreme good in life, but it can’t be denied that it would help many along in their personal quests. Regardless of how much we talk about fortune, the meaning of life, the ups and downs of winning the lottery, none of it masks the great commotion the jackpot is causing on the Web.
Below is a graphic showing the level of discussion surrounding the Mega Millions lottery. The graph includes all mentions of Mega Millions on Twitter in the days leading up to the jackpot. Discussion reached a frenzied pitch yesterday at 146,300 mentions, and Volume will undoubtedly continue to increase today and over the next few days.
Discussion about the Mega Millions lottery has skyrocketed above 140,000 mentions as of yesterday.
“So you’re telling me there’s a chance?” Yes, there is always hope. On a related note, let’s all be thankful our current lottery isn’t structured like some others we have seen in popular culture. Among all the frenzy of the lottery hype — who wins and who doesn’t — remember what is important in life; remember who you are. Read more ›