Data is transforming our lives, our work, and the way we think. Through phones, screens, and connected objects, we are creating billions of bytes of data every day. To understand the complexity of this revolution, we travel to four major cities in the world—San Francisco, New York, London, and Paris—to find out how companies like Rocket Fuel, which specializes in data analysis, are changing marketing and online advertising and transforming visitors into consumers. The Economist’s data editor, Kenneth Cukier, and French data specialist Gilles Babinet fully agree: the data war has already begun. All companies are part of it, and one of their primary missions is to reassure consumers on the safety and protection of their personal data.
Introduction: Big Data, Big Business (08:57)
Kenneth Cukier describes the exponential growth of data and the speed at which information is processed and stored. Digital data is essential for analyzing customer activity. Gilles Babinet anticipates the future of data, including its effect on health and transportation.
Data Analysis for Advertising (05:48)
Big data is a significant economic opportunity, and there is a growing job market for data scientists with a variety of skills. Data analysis is especially transforming the marketing sector; Mats Carduner started the agency 55, which increases the purchasing rate of visitors to websites. By analyzing a website using markers to track visitors' use, companies can understand what parts of the process are effective and improve the design of the site.
Retargeting and Behavioral Targeting (07:15)
Criteo revolutionized web advertising by tracking the movement of every visitor to e-business websites. Gregory Gazagne explains that when a visitor leaves a site, Criteo continues to track them and create specific advertisements to redirect them back. Rocket Fuel uses artificial intelligence to study website users, identify potential new customers, and advertise strategically.
Risks of Big Data (04:04)
Cukier argues that anonymized data is not a threat to people, but that it has potential risk for livelihoods and there is a danger in the lack of rules in place to protect privacy. Companies have the responsibility to act ethically, and trust will become an important element of competition in business. As people learn what consists of a violation, regulations will come in to play.
Credits: Big Data, Big Business (00:35)