Big Data to Inform Product Development Decisions
At his Strata keynote on the Big Data Imperative last month, Google’s Digital Marketing Evangelist Avinash Kaushik revisited former defense secretary Donald Rumsfeld's now infamous 2002 statement:
"There are known knowns. There are things we know that we know.
There are known unknowns. That is to say, there are things that we now know we don't know.
But there are also unknown unknowns. There are things we do not know we don't know."It is these ‘unknown unknowns’, argues Kaushik, that hold the greatest promise in Big Data.
Not knowing what ‘we don’t know’, how then, can companies ask the ‘right’ questions of their Big Data? And, how can manufacturers understand the ‘answers’ in and glean insights from Big Data to inform, shape and shift critical and day-to-day product development decisions?
What suppliers should I be considering?
What new technologies should I be aware of?
How do consumers feel about my products and those of our competitors?
What new markets might we serve with our existing product offerings?
(Questions &) Answers Discovered.
Goldfire, the optimal decision engine from Invention Machine, is software that uniquely surfaces the knowns, unknowns and unknown unknowns in Big Data.
Powered by world-class semantic search capabilities, Goldfire connects to a wide range of – including structured and unstructured text - and transforms the underlying data into actionable intelligence.
For global manufacturers looking to integrate Big Data into their innovation and product development processes, Goldfire becomes a “virtual subject matter expert” pinpointing – on-demand – solutions from hundreds of document types and numerous enterprise applications across five languages and across a staggering array of content.
Goldfire’s Knowledge Navigator allows users to point to and semantically search across collections of internal and external data – from websites and enterprise systems to technical publications, patent collections, and the Deep Web.
Results to queries in Goldfire are displayed in one of more than 60 different ‘lenses’ - collections of answers across a wide range of categories. These navigable lenses include powerful insights into advantages, disadvantages, applications, materials, causes and effects, parts, functions, interactions, and more. And, Goldfire includes lenses designed to cull insights from consumer sentiment in Twitter, Facebook, blogs and so on – helping you understand consumers’ ‘likes’, ‘dislikes’, desires, and appreciations as well as product or service failures and deficiencies.
Goldfire’s lenses allow innovation and knowledge workers to find answers to the ‘known’ and ‘unknown’, via explicit questions by the user or – with a single word query – Goldfire can ask implied questions on your behalf – delivering answers and solutions that can then be browsed and explored further.
Goldfire informs decision-making by connecting product teams across the product lifecycle to the knowledge and trends – locked in Big Data and elsewhere.
With on-demand insights from Goldfire, manufacturers are poised to make the optimal decisions relative to product development.