12/04/12 - 12/05/12
Massachusetts Institute of Technology, Cambridge, MA
Marketers have always used the “big data” of their day, beginning with the 19th century mailing lists and targeted catalogs of Montgomery Ward and Sears. The question is: Is today’s “big data” too big for marketers? Exponential increases in data storage and computing speed may challenge the very existence of marketing as an independent business function. Many new-generation marketing and media enterprises are led by software engineers, who embed marketing strategies directly into code, rely on machines to discern consumer tastes, and infer brand sentiment from the digital traffic on social media. This conference takes us to MIT to examine the challenges and opportunities created by this interface of marketing and big data. Please join us as we present some of the latest thinking and discuss the future of marketing in the era of big data.
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What will big data mean for marketers?
It was no surprise that “big data” emerged as a priority topic for scholarly research in a recent survey of Marketing Science Institute company members. Marketers have always been at the forefront of using the big data of their day, beginning with the mailing lists and targeted catalogs of Montgomery Ward and Sears and the early IRI/Nielsen scanner data.
Reinventing Society in the Wake of Big Data
“We are at a phase transition from the reasoning from the Enlightenment to a fine-grained understanding of individual interactions and permissioning of those data,” says Alex “Sandy” Pentland. Director of MIT’s Human Dynamics Laboratory, Pentland is a pioneer in big data, computational social science, mobile and health systems, and technology for developing countries. He will speak at MSI’s Dec. 4-5 “Big Data” conference at MIT.