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Are you going to drown or prosper in the “post-data scarcity” world? Presented by Justin Massa, Founder & CEO, Food Genius at the September 9th Evening With Experts event held by the Chicago AMA at 1871.
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Big Data & Agile Marketing Are you going to drown or prosper in the
“post-data scarcity” world?
Justin Massa Founder & CEO
Food Genius
Our Customers Include
How We Do It
Many Roles, Many Use Cases
Designed for manufacturers, distributors and restaurant or grocery chains, Food Genius Reports provides visibility into menu trends with an easy to use tool that aggregates menu mentions of ingredients, dishes and frequently occurring items on menus.
A Cautionary Tale: Poutine
• 2007: Food & Wine, Noble Agency
• 2009: Grub Street, Village Voice
• 2010: QSR Magazine
• 2011: Burger Business, Food Channel, Center for Culinary Development (CCD), MonkeyDish
• 2012: Business Insider, Burger Business (again), Prepared Foods
• 2013: QSR Magazine (again) 3rd Quarter, 2013
What is “big data”?
Three (or Five) V’s
• Velocity
• Variety
• Volume
• Veracity
• Virtuosity
Image source: greenbookblog.org
From a Trickle to a Flood
90% of the world’s digital data has been generated in the last 2 years.
Image source: blog.mindjet.com
We are on the cusp of a “post-data scarcity” world. It is equal parts exciting, terrifying, and stressful.
data and insights that are available
data and insights that matter to your business
Sorting signal from noise is getting harder and harder.
The Big Data Challenge
The Stuff of Dreams and Nightmares
In a world where you can make (and market) anything, how do you know what to make?
The “causation v. correlation” debate is heating up.
This is Just the Beginning…
How to Play Moneyball in the Food Industry
Image via climbinghigherpictures.com
• Success is a hybrid approach that melds creativity and perspective with analytics.
• Neither a pure data nor pure “gut” approach works.
1. Know Who You Are…
…otherwise you'll get lost in the data.
"Wawa has always been viewed as a c-store, but we now want to be viewed as a restaurant that sells gas.”
former Wawa CEO Howard Stoeckel 2012 Restaurant Leadership Conference
2. Eat the Elephant One Bite at a Time
image source: mikkiblogs.com
3. Focus on Operationalizing Insights
• Recency and correlation reign supreme - avoid obsessing over “why” (but be careful what questions you try to answer)
• Seek out insights that you can operationalize today – avoid trying to boil the ocean.
• Create systems that can adapt to a rapidly shifting environment.
