One of the keys to using big data effectively is a willingness to analyze small bits of information to find clear answers to specific questions. That was one of Unilever Senior Dir/Men’s Grooming Matthew McCarthy’s suggestions when asked about how to utilize big data during a panel discussion at the ’16 Intersport Brand Engagement Summit. McCarthy advised that to make the most of data, it is best to start with insight and use data to support conclusions. KORE Software VP/Product Strategy Russell Scibetti added, “If you’re focused on solving the problem or getting a good solution to the problem, you don’t always need great. Sometimes you need good enough. And it’s picking the right data, not using all the data that you have.” As advances in technology bring about new ways to analyze massive quantities of data, information about consumers is becoming more and more valuable. Scibetti said sports fans stand out from other consumers when it comes to sharing personal information. “The one thing that I think is most unique about sports-generated data compared to other data is the sports fan’s willingness to tell you just about anything about themselves,” he said. “That can be through surveys, that can be through web forums, that can be through the content that they’re generating. ... There’s no other industry, there’s no other consumer base, where the passion generates as much willingness to tell you everything you want to know about that person.” Another interesting aspect of relying on data presents itself when the numbers contradict an analyst’s gut feeling. McCarthy said that often simply means a gut feeling is misguided, but added that such instances can be a cue to look at the information more closely, or from a different angle. He said, “At the end of the day, if the data’s telling you one thing, and your gut is telling you something else, that in and of itself is probably an insight.”
REACH OUT AND TOUCH SOMEONE: MVPindex co-Founder & CMO Kyle Nelson talked about determining an athlete’s reach, saying, "In social, everybody looks at reach. So they say, ‘This is how many followers this person has.’ There’s so many mistakes made by brands because they base something off of what reach someone has or how well they perform on the field. But from a social perspective, there are a lot of missed opportunities: guys that have huge followings socially but don’t activate very well for their brands at all.”
