Without the ability to rapidly identify which types of data can have a meaningful financial impact for businesses and where to find those types of data, executives are simply paralyzed. Data at rest has no value. Data in motion can drive results.
Marlton, New Jersey and Atlanta, Georgia (PRWEB) October 29, 2013
The Venture Development Center, Inc. (VDC) and Big Cloud Analytics, Inc. announce big data and big analytics partnership.
Today, there is more data created every two days than in the whole of human history prior to 2013. Humans now create more than 2.5 quintillion (2.5×1018) bytes of data. This literal explosion of big data has left marketers and business leaders poorly prepared to create business value from the deluge.
According to the CMO Survey of February 2013, companies spend approximately 11% of their top line revenues on marketing and media purchases. Typically, these companies are still making these “investments” with mere heuristic tools to guide them. Sadly, 15%-20% of the average marketing portfolio could be eliminated (per McKinsey). This inefficiency suggests that the between $200 billion to $500 billion in marketing is wasted each fiscal year. The single most effective way to increase marketing return on investment is to improve the engagement between the existing customer portfolio and the brand. Companies that focus on Customer Engagement will see as 66% improvement in marketing return on investment (Forrester Research, Sept 2008).
It has been said that data is the new oil. If this is true, analytic methods are the new refineries. Without the ability to rapidly identify which types of data can have a meaningful financial impact for businesses and where to find those types of data, executives are simply paralyzed. Data at rest has no value. Data in motion can drive results. Two great companies of the “Insight Economy” are coming together to put data in motion by bringing smart exploration and identification of new sources of relevant data to proven methods of analytic refinement to deliver business leaders new and innovative ways to grow their top and bottom lines.
VDC and Big Cloud Analytics, Inc. are announcing a partnership that is intended to deliver exactly on this opportunity. VDC has developed some of the most interesting data sources available in the “Insight Economy” and is bringing them to market. Big Cloud Analytics, Inc. is delivering 25 years of the world’s most proven methods for customer engagement analytics available. Simply put, Big Data is partnering up with Big Analytics.
"The rate of data collection is increasing exponentially, and this offers tremendous opportunity to refine strategic and operational decision-making. As a result, the financial returns associated with the successful innovation of ‘Big Data’ are greater today than ever before. The key to success is to understand what we call the ‘Art of the Possible’ -- which is the ability to envision innovations, knowing where to find the necessary ingredients, and then developing a proven capability to deliver the solution," says Dr. Charles Stryker, Founder of VDC. “We are pleased to partner with Big Cloud Analytics. The combination of our world class data expertise with their world class analytic expertise opens new doors for companies looking to unlock business value.”
“We are at the start of a perfect storm. Technology has enabled the exponential expansion of measurable data (“BIG DATA”) from across an expanding universe of communication channels to understand. But the marketplace is hard pressed to keep pace because the lack of widespread knowledge of statistical know-how and availability of well-trained data analysts is not growing at the same explosive rate. At Big Cloud, we are geared precisely to provide these key solutions,” says J. Patrick Bewley, Chairman and CEO of Big Cloud Analytics. “Our new partnership with VDC will increase the footprint of available data from which we can help brands unlock their customers future value.”
About The Venture Development Center, Inc.
The Venture Development Center, Inc. (VDC) is an advisory services firm that assists its clients in identifying, defining, and implementing breakthrough uses of Big Data. The VDC success story is based on the unique ability of the organization to identify new and powerful data assets from the Big Data ecosystem and then develop applications and information use cases that drive solid revenue results and transform existing business practices. The practice areas that characterize VDC projects include creating new products and revenue streams for data owners and bringing forth new information assets and strategies to educate and assist data users to adapt to the rapidly changing world of Big Data.
About BIG Cloud Analytics, Inc.
BIG Cloud Analytics provides technology enabled real-time marketing predictions based on world-renowned science from one of the top five marketing scholars in the world and its proprietary COVALANCE(TM) modeling approach. Big Cloud serves the Financial Services, Retail, Consumer Packaged Goods, Media and Publishing, Telecommunications, and Airline industries.
About Dr. Charles Stryker, CEO of VDC
Dr. Charles Stryker is the Chairman & CEO of VDC. Founded in 1992, VDC is the preeminent advisory firm assisting firms in the information services industry in all aspects of their strategy and business development activities. In addition to his current professional activities, from 1991 to 1999, Dr. Stryker was a faculty member at the University of Pennsylvania, Wharton School, where he taught in the Sol C. Snider Entrepreneurial Center. From 1986 to 1991, he served as a President of InfoUSA. Since 1992 he has also served on many boards of directors of both public and private companies including 24/7 Real Media, Greenfield OnLine, InfoGroup, Intelliquest, and Naviant. Dr. Stryker has received the BS and MS degrees in Electrical Engineering and the Ph.D. in Computer Science from New York University.
About J. Patrick Bewley, Chairman and CEO
J Patrick Bewley is the Chairman & CEO of Big Cloud Analytics. BCA is an Atlanta based analytics and data sciences company that specializes in Customer Engagement. Prior to the launch of Big Cloud Analytics, J Patrick (JP) Bewley was the CEO of e-commerce company Bridgevine, ranked by INC 500|5000 as one of America’s fastest growing companies. Under JP’s leadership, Bridgevine was recognized for the sixth consecutive year on the INC list. He led the company to 49% topline growth and 80% EBITDA growth. Before Bridgevine, Bewley and Gentry built the top marketing strategy practice in the world at big data pioneer Acxiom. In just five years, they built the business from start-up to $319 Million in booked revenues with operations in 14 countries. Bewley is an alumnus of Harvard Business School and the Massachusetts Institute of Technology’s Entrepreneur Center.
Big Cloud Analytics is a trademark of Big Cloud Analytics, Inc. All Rights Reserved.
The Venture Development Center and VDC is a trademark of Venture Development Center, Inc. All Rights Reserved.
© Copyright 2013