Everything is for Sale
Big data is a popular term used to describe the growth and availability of data which can be gathered as both structured and unstructured sets. Big Data is a currency across various large growth industries such as hard science, social sciences, business and marketing.
source: http://machimon.files.wordpress.com/2013/05/atime_data_mining.jpg
Social media is now more than ever increasingly playing an important role in television; playing a key role in the promotion of upcoming shows, being utilised for on-air interactions with the audience across a variety of genres, and also as a tool for measuring the success of a show, at least with the audience segment which social media represents (Woodford, Prowd and Bruns, 2014).
A programme that is trending on Twitter is increasingly a currency of success or failure (Bucklet, 2011). âThe influence of the twitter sphere can disproportionately impact on a show, so if there is a torrent of abuse, or the other way around, a torrent of love, that shines a spotlight that is definitely a factor in commissioning meetingsâ (Nelson, 2011).
The data mined from telelmetrics, generates not only publicity for the program or application but also determines its success. Rather than taking out billboards, television commercials or other traditional means of advertising, business and are now using Twitter audiences to advertise for them on trends and audience reactions. This is a very valuable marketing technique for these companies. Similarly, liking their Facebook page or a photo shares that information with a portion of your Facebook friends. Ultimately, this is effectively free promotion and advertising and Darryl Woodford (2014) classifies this as a cycle of free advertising. The more people see it and that cycle continues on and on and you end up with this kind of vitality of marketing plus creating new data to be mined, stored and analysed.
There are three Vâs as to how Big Data is measured are volume, variety and velocity. The combination of these there give developers and marketers the ability to almost predict the future of a product or the current trends people are sharing and displaying on social media.: Many factors contribute to the increase in data volume. Transaction-based data stored through the years. Unstructured data streaming in from social media. Increasing amounts of sensor and machine-to-machine data being collected. This was the early workings of our modern day internet.
Doug Laney currently describes the 3 Vs as follows: Volume: Many factors contribute to the increase in data volume. Transaction-based data stored through the years. Unstructured data streaming in from social media. Increasing amounts of sensor and machine-to-machine data being collected. Value of data continues to grow, current systems wonât keep pace.
Velocity: Data is streaming in at unprecedented speed and must be dealt with in a timely manner. Data is emerging as the worldâs newest resource for competitive advantage.
And variety : Data today comes in various and changing formats. Structured, numeric data in traditional databases. The variety effects decision making
References:
http://www.ibm.com/big-data/us/en/ - viewed 11/05/2014
Davenport  T.H. and Dyche J, âBig Data in Big Companies,â May 2013
Woodford, D., Prowd, K. and Bruns, A. (2014). Telemetrics: Towards Measuring Social Media Engagement with Television. [PDF] Available at: http://blackboard.qut.edu.au/bbcswebdav/pid-5234702-dt-content-rid-2118244_1/courses/KCB206_14se1/Woodford%2C%20Prowd%20and%20Bruns%20%20Telemetrics%20Towards%20Measuring%20Social%20Media%20Engagement%20with%20Television.pdf [Accessed 6 May. 2014].
Woodford, D. (2014). Big Data Lecture. [PDF] Available at: http://www.dpwoodford.net/wp-content/uploads/2014/02/KCB206-Big-Data-Lecture_Small.pdf [Accessed 6 May. 2014].















