Are Companies Getting Big Data Wrong? – New York News

big data wrong

Let’s explore some of the most interesting stories that have emerged from New York business schools this week.

Columbia Business School Researchers Argue Future of Big Data Lies in Its Ability to Assess Consumers’ Mindset in Real TimeColumbia Business School News

Columbia Business School professors Sandra Matz and Oded Netzer recently published a new discussion paper in the Current Opinion in Behavioral Sciences in which they “address the challenges and opportunities of using big data to benefit both business and consumers based on psychological profiles drawn from information posted on personal websites and discussion forums, and language used on Facebook and Twitter.”

Netzer writes, “Big data usage is quickly evolving. With technological advances in the collection, storage and analysis of large amounts of data, businesses can now gain valid insights on millions of consumers as they go about their daily lives.”

Matz adds, “One benefit of psychological profiling is that the pre-selection of ads based on psychological needs can alleviate the problem of choice overload. It can even help target highly neurotic individuals who display early signs of depression with ads that guide them to self-help pages or offer professional advice.”

You can read the full article here.

When Students Come FirstBizEd

According to the National Center for Education Statistics, upwards of 30 percent of freshman in higher-education in the United States are the first members of their family to do so. However, there is also a direct correlation to dropout rates: first-gen students have a dropout rate that is four times that of non-first generation students. The research also found that only 11 percent of the first-gen students manage to secure a Bachelor’s degree within six years.

The statistics find that the reason for the dropout rates has less to do with personal decisions, and more with the “lack the financial, social, and emotional support they need to navigate college successfully,” says BizEd writer Tricia Bisoux. Several schools, including the Rutgers Business School in Newark and New Brunswick, have altered the way they approach its first generation students.

“At Rutgers Business School (RBS) at Rutgers University in New Jersey, the key to supporting first-generation students is a suite of programs called RBS-PLUS (Pathways Leading to Undergraduate Success), launched in 2013. Delivered through the business school’s office of diversity, RBS-PLUS doesn’t just support its current first-generation and low-income undergraduates. It also reaches out to high school students to offer guidance just as they’re beginning their college preparation.”

You can find out more about the program here.

Facebook Is an ‘Extraordinary Failure in Leadership,’ NYU’s Galloway SaysBloomberg

NYU Stern Marketing Professor Scott Galloway recently stopped by the Bloomberg television studios to talk about the ever-tumultuous Facebook galaxy, dishing out some heavy criticism of Mark Zuckerberg and the tech-giant company as a whole. Watch his interview with the Bloomberg panel here.


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