Put the phrases “big data” and “analytics” together and you’ve got gold. At least in the eyes of the beholder. It’s a mystery to me why a panel and tools survey company – mind you, they look like very nice tools – can call itself “big data analytics” and raise $70 million. Consumer market research from surveys is not “big data,” and if Qualtrics is building and maintaining panels, that’s not an easily scalable business. Services are critical to big data and social media analysis and advertising, but most service businesses don’t scale the way technology businesses do. Om and others make a keen distinction between real tech businesses and tech-enabled ones. Some tech-enabled businesses can generate network effects through scale (Groupon, Amazon, eBay), but that scaling can be brutally expensive.