For marketers, truly valuable customer data comes in two forms: thick data and big data. Thick data is generated by ethnographers, anthropologists, and others adept at observing human behavior and its underlying motivations. Big data is generated by the millions of touchpoints companies have with customers. To date, thick data and big data have been promoted and employed by very different people. Thick data has been handled by companies grounded in the social sciences. Big data has been promoted by people with analytics degrees, often sitting in corporate IT functions. There has been very little dialogue between the two !
Fouad Bendris’s insight:
“Why” is as important as “how much.” – Melding big and thick data together isn’t easy. It requires changing practices, hiring new people, and allocating funds away from familiar ways of doing things. But once you’ve seen the power of real data, you’ll question the millions of dollars wasted on surveys and focus groups …
Source:: Strategy & Governance