Big Data: What Data is Most Valuable, and How Best to Put that Data to Use to Improve Sales, Profits, and Operations
Eric Brynjolfsson, a professor at the Sloan School of Management at MIT, and a director of its Center for Digital Business, and Andrew McAfee, a research scientist at the center, have been high profile over the past few years in writing and talking about the importance of data and digitization in spurring business revolution and innovation.
Brynjolfsson and McAfee co-authored the book, Race Against the Machine (Digital Frontier Press, 2012), as well as other articles on data and technology; they also lecture widely.
Business leaders are keenly interested in and follow closely what this MIT professor and this MIT scientist put on paper and have to say.
Fundamental to their lessons, advice, and teaching is that organizations which don't just acquire data, but also the right data, and use that data in the right way, are going to be winners.
They believe that consumers, through a variety of networked communications devices, and activity, will generate increasingly helpful and useful data for organizations.
Brynjolfsson and McAfee believe in targeted, precise, and strategic experimentation with, and analysis of, data.
ShopperTrak, the world leader in people counting technology and foot traffic analysis, agrees.
ShopperTrak agrees that, as Brynjolfsson and McAfee wrote, “Today businesses can measure their activities and customer relationships with unprecedented precision,” and, “The evidence is clear: Data-driven decisions tend to be better decisions. In sector after sector, companies that embrace this fact will pull away from their rivals.”
The synergy of the ShopperTrak people counting and foot traffic data collection system, and the ShopperTrak staff of analysts, data specialists, and business strategists who check and review that data, are the formula and service enabling companies around the world to gather the most valuable retail intelligence, and to use those numbers and statistics more effectively and efficiently than the competition.
ShopperTrak delivers this value and competitive advantage through constantly listening to our customers, and experimenting, researching, and innovating.
More than 60,000 managed ShopperTrak people counting and foot traffic devices are in operation across 95 countries and territories.
Click here to be taken to the post, “Big Data's Management Revolution,” by Erik Brynjolfsson and Andrew McAfee at the Harvard Business Review Blog Network.
Click here to learn more about ShopperTrak!