ABI Research released a new market forecast, predicting global spending on big data will exceed $31 billion this year. Over the next five years the market will grow at a CAGR (compound annual growth rate) of 29.6%, ABI says. A look at the content marketing, content management and business reality behind the big data numbers.
There’s a lot of controversy and quite some misunderstanding regarding big data. Understandable. It’s a big topic and it concerns all areas of business, society and even life as it is today. In fact, if you think that content marketing is the buzzword of the year, just take a look at the comparison below: the growth of the number of Google searches for big data (in red), compared to the growth of Google searches regarding content marketing, considered one of the major buzzwords right now (in blue).
See the difference? Of course, both terms are omnipresent nowadays and it’s not really fair to compare them. However, just as content marketing is an umbrella term, big data is often USED as an umbrella term depending on who uses it. Defining big data is pretty easy and straightforward if you look at it from a pure technology viewpoint and, still, some debate it. Mapping the different ways organizations use big data is an entirely other thing though so maybe we don’t really need to focus on definitions but on the possibilities and use of big data within the areas we know. Because big data concerns everyone.
Big data and content management: V for Value
There is a strong relationship between content and big data. In an interview with John Mancini at the occasion of the Global Directions 2013 conference, John talks about big data from the enterprise content management perspective. It shouldn’t be a surprise that big data – and also fast data, as Ovum calls it – is omnipresent at the number one intelligent information management conference.
In a recent interview, another keynote speaker at Global Directions 2013, Salesforce.com’s Chief Enterprise Strategist, Bruce Richardson, had this to say about the topic: big data + predictive analytics = huge ROI.
Now, what’s the connection with content management and content marketing? For starters, as big data impacts virtually everything, it strongly effects the broader information and content management picture. In the end it’s about the explosion of data, turned into information and content. At the same time, content – as a social object of interaction and input as we look at it from a content marketing, messaging, customer data or social business viewpoint, also adds to the growth of big data as an avalanche of signals that can matter for various goals.
As John Mancini says in the interview, “at the center of how we will act upon the insights gathered by big data will be content (and lots of it)”. Yet, the focus needs to be on benefits and less on technology he feels. Data scientists should help us to interpret all the data we generate today and to exploit big data the interdependency between technology and business must be addressed (full interview here). Or in other words: value, both for the business and the customer.