Sentiment analysis was a new subject for me. From the examples provided, it seems to be an important element of big data analysis and it would be interesting to know companies that are offering such analysis.
@Beth, I think influencing positive thinking will lead to a number of benefits, including specific ones like you mentioned. If you can identify your high value customers, then special promotions for a TV would make a lot of sense.
Ariella/Daniel -- I'll have to shamelessly plug the radio show we did just last week with Ben Hamner, director of engineering at Kaggle. He shared great tips on how to participate in and win a data science competition. Tips for Participating in a Data Science Competition
Category 4 segment - sure it might generate a negative consequence, BUT you have to stay in contact with your customers. The difference is to use technology to "influence" them into thinking good of your product.
@Daniel, - I believe that even klout has enough data to produce a more accurate version of itself in the future. I'm willing to trust it will be more accurate with time and so will be any dependent algorithms
Daniel, regarding customer segmentation and your category 4 (Reminding their subscription is up may trigger a re-evaluation of cost or quality) -- as much as that might trigger positive result it might also lead to negative consequence, no?
To get a sense for what types of problems are being solved with machine learning, please visit: www.kaggle.com which sponsors all kinds of machine learning contest, many for prize money. It is a fascinating look into the field of data science.
@kicheko I agree, facebook did well implementing that, but is it usual to use hashtags on facebook posts? Certainly will help us to analyze facebook data, or at least reduce the error/residual data that we normally don't use for the analysis.
@kicheko yes, it was to help gain that kind of search, but if people do keep their posts limited to friends, I believe that their posts will not come up to those who don't have permission to see them. I'm sure there is a way to get beyond that, but I believe that's the official word on their nod to privacy settings.
@Daniel: there's a time the tool called Klout became popular sort of measuring people's influence...maybe not the same as credibility but similar. Problem with Klout may have been premature implementation because it had lots of innacuracy.
@kicheko that's a good point! We use twitter to share what I like to call announcement data. Data we share to inform people, to be helpful to someone. There's a scientific paper called "Sadilek-Kautz-Silenzio_Modeling-Spread-of-Disease-from-Social-Interactions" where the data used was from twitter posts.
@pkilaruaod -- interesting question. I would see that as a move from good to bad (at least from the customer perspective). Does it believe a focus on sales will ultimately lead to improved customer experience?
Capturing loyalty card engagment via POS is critical in helping to define the makeup of the loyalty customer. Items in basket, basket size, frequency of shopping, channel of shopping (in store vs online), etc. Thanks. Good ideas discussed about focusing on your 'best' customers and driving marketing strategy towards those folks!
While the trend has been on customer focus, recently one of the major retailer is shifted focus from customers. Instead they are focusing more on individual store sales. What are your thoughts on their strategy?
Daniel, you mentioned "credibility analytics" in the lecture. Can you tell us just a bit more about that? Are you seeing credibility metrics worked into CLV modeling at this point -- or are we way too early for that?
@MJ yes, there are those endorsements that seem to come out of nowhere. LI does push people to do that, and I suppose they expect you'd reciprocate. But I don't pay much attention to 2nd and 3rd level contacts. It's really only an issue if you want to establish a connection; harder to do with someone ony on a 3rd level connection.
@Ariella: Its just that there is so much going on with the website. Trying to figure out who is in your 1st circle, 2nd circle; peoplpe endorsing you for skills that you may or may not have,...just seems much ado about nothing.
@bboshn1764: Absolutely, a crossover between Facebook and Linkedin--but I think it's all about who and what you want to target, and the message that you want to send. To my mind, Facebook for "general" contacts, and Linkedin for more professional.
@kicheko you're most welcome. It starts off by saying that Twitter earned $47.5 million from selling off its data to a fast-growing group of companies that analyze the data for insights into news events and trends.
Social networking makes it hard for the small business because they now have 4 different avenues that must be checked for orders and trouble shooting than just email or a simple phone call. Customers want an immediate response but if you do not have the people monitoring all this it will not happen for the customer and then the customer gets angry.
Very impactful point, 1 poor CX experience equated to 1M potential lost sales opportunities, even assuming only 1% of those followers were going to purchase new product in next 3-5 years that's 10k+ lost opportunities.
This segmentation is harder to apply for brand new technologies I think. Many times people will say they aren't interested when they really just don't understand the benefits yet. Marketer has to do their job to educate the customer to move them out of segment one to segment 2 or 3.
@jmulders940 We live in OLAP world so we're kind of behind the curve from that perspective, but its good to take the time to pre-build the tables that will be utilizied most often for ad-hoc requests and C level needs. Data pulls are simple refreshes for 75% of my world's workload
And hello to all from Chicago! If you're a first-time participant, please note that the audio player will appear at start time in the window above. Click on the left arrow to start (sometimes you have to click more than once).
If you aspire to become a Data Scientist, a graduate school program can boost your opportunities. Marquette University's PhD program in Computational Sciences is co-sponsoring an Open House scheduled on November 2, 2013 (see http://www.marquette.edu/chem/documents/Fallopenhouseflyerfinal.pdf for information). There are also MS degrees in Bioinformatics and Computing that feature courses on analytical methods. The Computing program includes an online option. Marquette offers classes to both degree-seeking and non-degree-seeking students. The programs are in the Mathematics, Statistics, and Computer Science Department so they offer the cross-discipline courses required for success.