The story of data, Part 2: Where are we now?
Hyperlocal, across all channels, everywhere you are: We’re currently knee-deep in the era of personalization
Now that we’ve learned a little history about how we got to our present state — in Part 1 of our story of data — let’s assess where exactly we are. And that’s in an era of personalization that started with Amazon recommendations and has blossomed into elaborate journey mapping that can predict where, when and how you might interact with a message or a prompt.
Big Data has given way to Deep Data
Once companies realized that the data that they collected for their own entities could provide value to other companies, we saw a rise in the commodification of data. We’ve moved beyond Big Data as a concept and into an age of “Deep Data.” (I naively thought that I came up with that term until Google set me straight.)
Abhi Yadav, founder and CEO of customer data platform ZyloTech, puts it simply:
“We were drunk on Big Data,” Yadav said. “Enterprises were tracking, quantifying and tagging everything with the implicit assumption that one day we’d be able to use all that data. It hasn’t panned out that way.”