Data Activation to Maximize Market Research Efficacy – NewMR WebinarSteven Cosgrove, DataActiva, 2016

Data Activation

Dr. Steven CosgroveDataActiva UG

20 October 2016

Data Activation to Maximize Market Research Efficacy

Data Activation to Maximize Market Research Efficacy – NewMR WebinarSteven Cosgrove, DataActiva, 2016

OverviewData activation initiatives are being launched in many companies worldwide, as managers, administrators, and analysts learn to activate and link various streams of structured (relational databases spreadsheets and even XML files) and unstructured data (word processing documents, PDF files, e-mail messages, blogs, Web pages, video, pictures and social sites) into actionable analytics, reports, and mobile applications for everyone in the organization.

While the advantages of data activation are well documented, they should be seen as part of a deliberative process, whose success depends on technology platforms(Business Intelligence (BI) and Analytics), management buy-in, as well as well-designed robust analytics.

Our company, DataActiva, activates streams of structured and unstructured data in order to optimize data-driven decision making. We consider data activation to be a tremendous opportunity to enhance and even transform how you run your business. In this presentation we focus on the relationship between traditional market research and data activation.

Data Activation to Maximize Market Research Efficacy – NewMR WebinarSteven Cosgrove, DataActiva, 2016

No longer limited

Structured DataFlat files in Record Format, GEO location data,HTML5 micro-data,Legacy data, Log files, Micro-formats, Sensor data,Spreadsheets

Semi-Structured DataDocuments containing meta-data tags,EDI documents,RSS feeds,XML objects

Unstructured DataBinary Large Objects, Business record requiring control, content management data, digital assets, dynamic content (multiple users), email, text messages, chat, intellectual property data, social data, specialized content (web)static documents, taxonomies/ontologies, voice recognition

Complex Structured DataHierarchically structured data(xml-based MISMO)

Data Activation to Maximize Market Research Efficacy – NewMR WebinarSteven Cosgrove, DataActiva, 2016

Transactions, Interactions, Observations

Activating and Integrating Data from ERP,

Customer Experience, WEB and IoT

DATA Varies by:VelocityVarietyVolumeVeracity

VisualizationVariability

Value

Customer Experience (CRM)SegmentationTouchesOffersContacts

WEBWeb Logs

M2MOffer HistoryA/B Testing

Dynamic PricingAffiliate NetworksSearch Marketing

Behavioral TargetingDynamic Funnels

ERPBuying BehaviorPayment Record Purchase History

IoTSensors/RFID/DevicesMobile Web, SentimentUser Generated ContentSocial Interaction & FeedsSpatial & GPS Coordinates External DemographicsBusiness Data FeedsHD,Video, Audio,Images Speech to TextProduct Service Log, SMS/MMS

Data Activation to Maximize Market Research Efficacy – NewMR WebinarSteven Cosgrove, DataActiva, 2016

Mapping onto an Analytic Platform

Data migrations/conversions

Inter-enterprisedata sharing

Acquisition for BI, analytics, and data

warehousing.

Extracting data from operational systems, transforming and merging that data, and delivering it to integrated data structures for analytic purposes

Enabling the connectivity and integration of the data representing critical business entities such as customers, products and employees

Sourcing of masterdata in support of master data management (MDM)

Ensuring database-level consistency across applications, both on an internal and an inter-enterprise basis

Providing data to, and receiving data from, external trading partners (customers, suppliers, business partners and others)

Collecting auditand monitoring information regarding the deployed data integration services and processes in the organization

Support for governance and managementof data assets

Data Activation to Maximize Market Research Efficacy – NewMR WebinarSteven Cosgrove, DataActiva, 2016

Analytical, Visualization, Machine-learning, AI

Data preparation and exploration Prediction Classification Segmentation/Clustering Affinity analysis and association rules Model evaluation and selection Deriving insight Scoring New Data Machine Learning Artificial Intelligence

Interactive analysis and insights from integrated advanced analytic platform!

Data Activation to Maximize Market Research Efficacy – NewMR WebinarSteven Cosgrove, DataActiva, 2016

LinkagesMarket Feasibility Market Feasibility

Brand• Equity• Image and

positioning

Brand• Equity• Image and

positioning

Product DevelopmentProduct Development

Customer Satisfactionand Value

Customer Satisfactionand Value

Market SegmentationMarket Segmentation

Usage and Attitudes

Usage and Attitudes

Pricing• Strategy Development• Optimization• Elasticity

Pricing• Strategy Development• Optimization• Elasticity

Distribution Channel Testing

Distribution Channel Testing

Advertising /Communications Testing

Advertising /Communications Testing

Data Activation to Maximize Market Research Efficacy – NewMR WebinarSteven Cosgrove, DataActiva, 2016

Activating Customer Experience

Maximize the potential of each customer relationship and generate incremental revenue. Migrate from a seasonal, ad-ho campaigns to an automated, perpetual marketing process. Evaluate investment within segments, identify revenue potential and marketing opportunities.

Customer Experience(CRM)

Real-time marketingexecution

Data extraction,data mining and

analysis

Customer Experience (CRM) Relationship is a process that is both information and technology driven, which aims to leverage customer behavioural data, life event triggers and marketing models to efficiently and continuously cultivate customer relationships in order to:

• Touches• Offers• Contacts

Data Activation to Maximize Market Research Efficacy – NewMR WebinarSteven Cosgrove, DataActiva, 2016

Activating Strategic Market Research

Overall Opportunity Index

Market Size Receptivity Spending

• Amount Spent• Increase In Budget• Service Importance• Wallet share• Pricing

Performance on:• Key Brand Drivers• Awareness• Intent to Purchase

Buying behavior

• Revenue• Forecasted Revenue• Purchase History

Data Activation to Maximize Market Research Efficacy – NewMR WebinarSteven Cosgrove, DataActiva, 2016

Activating Segmentation Objective: Include one new piece of descriptive information for each customer in the database:

Market Segment Type

Applications:• Targeted efforts may now be enhanced through even more focused marketing to high potential

customers• Customer records will now include an additional layer of customer information for targeted

customer service and cross-selling opportunities• ERP data allows for strategic planning

Database Modeling And Scoring

ApplicationsModel Applied To Model Applied To

DatabaseDeterminePredictive Model

Market SegmentationResults Respondent Data

linked to Customer Data

Data Activation to Maximize Market Research Efficacy – NewMR WebinarSteven Cosgrove, DataActiva, 2016

Activating Loyalty,Brand, Performance

Loyalty

Recommendations

Satisfaction

Customer needs, wants, and preferences

Customer serviceProducts & Services

Brand

PerformanceGap

CommunicationGap

Transactions

Data Activation to Maximize Market Research Efficacy – NewMR WebinarSteven Cosgrove, DataActiva, 2016

SummaryCompanies must process and store ever increasing flows of digital information. However, it has become imperative to use and activate these data flows to make decisions. Science is a deliberative process based on well-designed robust data science and advanced analytics.

Data activation precipitates innovations, such as new pricing models, new ways to engage with your customers and partners, operational efficiencies, compliance and risk monitoring, and new market opportunities.

Analytics is no longer for innovators. It has become the standard that companies must emulate.

Acquisition & Munging

Math, Stats & Data Mining

InteractiveData Visualization

Data Activation to Maximize Market Research Efficacy – NewMR WebinarSteven Cosgrove, DataActiva, 2016

Thank You!

Dr. Steven CosgroveDataActiva UG

Walpodenstraße 455116 Mainz

+49 (0) 151 5290 9769 (mob)+49 (0) 6131 9719 599 (tel)

dataactiva.comstevencosgrove@dataactiva.com

Data Activation to Maximize Market Research Efficacy – NewMR WebinarSteven Cosgrove, DataActiva, 2016

Q & A

Ray PoynterThe Future Place

Dr. Steven CosgroveDataActiva UG