Would you start a talk about how great BIG DATA is with the premise that it has "Reached its Moment of Disillusionment"?
This week at COMRADITY, the American Marketing Association of Fairfield County hosted Bernie Gracy of Pitney Bowes to talk about "BIG DATA". He got our attention by starting his presentation with the Gartner Group Hype Cycle chart and Svetlana Sicular's analysis of where "BIG DATA" is. He then made a pretty compelling argument that Pitney Bowes product development is taking data to the "enlightment" phase by integrating several acquired proven technologies to produce valuable insights. Relevantly, he pointed out to the marketing crowd in the audience that Pitney Bowes product development is way ahead of perceptions of its brand and its marketing.
Does it have to take a bubble to get to the "enlightenment" phase on the Gartner Hype Cycle chart? Why? Think how much money is wasted on the hype. I'll bet that is a staggering figure if someone wanted to estimate it.
What's the alternative?
Start with the business model: Greg Satell @Digitaltonto, who has pointed us to the the Business Innovation Factory and writes smartly about innovation, shares Kerry OConnor's 6 Ways to Design a Business that results in a business model. I like several insights, especially the idea of defining the problem to restrain the process to strategically sound solutions. But my favorite comment relates to the ineffectiveness of copying what has been done before:
The biggest mistake business design students make is to just copy business models of existing companies, especially those that their innovations seek to supplant. There’s nothing wrong with building a better mouse-trap, but that product will stand out from the pack if it’s supported by a novel business system.
For example, the paid content business model: Many posts here call for new business models to replace the traditional advertising model. For example, start with creating content worth paying for. Paid content is the business model that Netflix has used to transcend the "bubble". Now HBO and CBS have been "enlighted" to enter the market, suggesting that there will now be a competitive marketplace for good content that is sustainable. (via @comScore)
Traditional media should see this as an opportunity: Doc Searls @dsearls points to the 'DASH' conference in the city defined by automobiles and American music icons: Detroit. Since most radio usage is in cars, this conference featuring innovation in car "audiotainment(tm)" should help a traditional media re-think its business model.
Collaboration seems to be a part of the "productivity" phase in Gartner's chart: Twitter is reviving integration with IFTTT (If This Then That) a service which can help users find relevant content. via Travis Wright (@teedubya)
APPLE appears to be continuing to propel the "productivity" phase by winning an indie developer fan, Aral Balkan (@aral) with its new SWIFT IOS app programming language. John Gruber's tweet at the APPLE developer conference has been retweeted or favorited hundreds of times:
Could the marketplace be evolving from hype cycles to cycles that starts with great products worth paying for?