Retailers, big data, smart pills and sharing your secrets with interns—everything you need to know is in this week’s Twitter round-up:
Focused on Big Data? You’re looking the wrong way.
Why data visualization is the future http://t.co/TVowaSCKz2
— Forbes (@Forbes) March 11, 2014
According to Forbes, big data isn’t the future—data visualization is. But it comes with a caveat: data visualization depends on data (after all, what else are you supposed to visualize?), but big data cannot be effective without data visualization.
In other words, it’s not how big it is, but what you can do with it that matters. Data visualization helps put your big data into perspective so that you see beyond the rows of numbers and grasp what is really going on.
“Location Analytics.” It will change retail.
Location analytics will totally transform the retail experience http://t.co/hMtK8k1Abx
— Harvard Biz Review (@HarvardBiz) March 12, 2014
Harvard Business Review calls attention to the “next gen” web analytics—it’s called “location analytics,” and it’s how retailers can acquire and leverage data from customers who are in their stores. Savvy retailers could use in-venue Wi-Fi networks (which would thrill me to no end), low cost Bluetooth-enabled beacons, and a few other spiffy apps and technologies, all to gather data and create an on-the-spot personalized experience.
Any retailer, and anyone who shops retail, should check out this article to see what is coming to a store near you.
What is your organization’s data IQ?
Why ALL employees of a company should understand data: http://t.co/YhDf9RFmwA
— BusinessIntelligence (@BIdotcom) March 12, 2014
Business leaders aren’t the only people who need data—more often than not, it’s your workforce that needs the details.
The article states, “According to Corporate Executive Board (CEB), an advisory company, information volume continues to grow by 60 percent a year. At the same time, 62 percent of workers lack the ability to assess that information and make decisions with it.”
So what do your employees know, not know, or need to know, and how is it going to impact your business? Check out this tweet to see.
Smart Pills Set to Boom
Smart pills ‘set to boom’ | Pharmafile http://t.co/RHsqzsT8sC
— Woojin Kim (@woojinrad) March 6, 2014
The latest smart device is taking the term “consumer” to a whole new level. Research firm Frost & Sullivan reports the next new thing will be consuming the latest in a growing line of smart devices. This time it’s the smart pill. These little guys are predicted to spark a boom in pills for internal imaging and even medicinal delivery. Smart pills could produce more data on individual people than any other device has yet achieved.
So how much will pharmaceutical companies have to charge on the front end in order to compensate for losses on the (ahem) backend? We’ll leave the details up to business analysts. We only recommend one thing: don’t go to the airport within 24 hours of popping one of these.