GOING GLOBAL WITH INNOVATION - International …/media/IE Singapore... · · 2016-08-23GOING...

Stephen TracyData & Insight Lead, SEA

GOING GLOBAL WITH INNOVATIONMARKETING INNOVATION: STEPS TOWARD BECOMING A DATA DRIVEN BUSINESS

INTRODUCTION

3

INTRODUCTION

The big data and analytics industry is booming

4

INTRODUCTION

The technology landscape that supports and drives the analytics industry has become very sophisticated, but the way we nurture, grow and invest in talenthasn’t kept up

TECHNOLOGY

PEOPLE

5

INTRODUCTION

In APAC, the appetite for analytics solutions is high, but maturity is still relatively low

Adequate budgets

Impact of analytics

The right talent

The right org structure

Sophistication of use cases

10 TIPS FOR ANALYTICS SUCCESS

ask good questionsone

8

ASK GOOD QUESTIONSONE

Image Source: @nathanwright

Machines are good at answering complex questions, but they’re not very good at asking them

9

Which of the following brands are you aware of?


10

(a) Starbucks(b) Coffee Bean and Tea Leaf(c) Costa Coffee(d) Coffee Connoisseur(e) None of the above



11

(a) Starbucks(b) Coffee Bean and Tea Leaf(c) Costa Coffee(d) Coffee Connoisseur(e) None of the above


Question ID: Q1

Territory: Awareness

Question Type: Multiple Choice – Multiple Answer

Question Text: Which of the following brands are you aware of?

Responses: (a) Starbucks(b) Coffee Bean and Tea Leaf(c) Costa Coffee(d) Coffee Connoisseur(e) None of the above

Routing: If response = (b), (c), (d) but not (a) then go to Q4

Question Piping: None

Quota: (a) Starbucks = min n=50

Other Requirements: If response = e) None of the Above then Terminate Survey Randomize response options


12


Do you like Starbucks?

YesNo 1 2 3 4 5 6 7 8 9 10

On a scale of 1-10, how would you rate your perception of Starbucks?

Extremely Negative

Extremely Positive

What is your perception of Starbucks?

Very PositiveSomewhat PositiveNeutralSomewhat NegativeVery Negative

Rank the following brands based on your preference?

Costa CoffeeStarbucksCoffee BeanCoffee Connoisseur

1

2

3

4

Which of the following brands do you like (choose top 2)

Costa CoffeeStarbucksCoffee BeanCoffee ConnoisseurOther

In your own words, what is your perception of Starbucks?

Type Response….

thinklong termtwo

14

THINK LONG TERMTWOO

rgan

izat

iona

l Ana

lytic

s M

atur

ity Foresight

Insight

Hindsight

Strategy

Predictive Modeling

Big DataAdvanced Segmentation

Advanced Personalization

DMP

Your journey to analytics success is

NOT LINEAR

NOT FINITE

AND FULL OF INFINITE POSSIBILITIES

15

DISCOVERY & DESIGN

ANALYTICS IMPLEMENTATION

REPORTING & ANALYSIS

TESTING & OPTIMIZATION

PERSONALIZATION ADVANCEDANALYTICS

Requirements closure Capture and categorize

requirements Identify KPI’s and map to

business objectives Review wireframes /

visual designs Technical assessment of

implementation feasibility

Solution Design Tagging Guide Tag Manager + data

layer setup

Set-up basic reports & dashboards

Automate and standardize reporting wherever applicable

Data consolidation from multiple channels for a single view

Set-up A/B tests based on business needs

Audit site for optimization and personalization opportunities

Send personalized campaigns through emails

Serve personalized .COM experience based on visitor behaviours

Build statistical models based on real data to predict and forecast any key metrics (like revenue or orders)

Identify correlation between offline events on

THINK LONG TERMTWO

FOUNDATIONHINDSIGHT

INSIGHT

FORESIGHT

Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4QUARTER

PHASE

ACTIVITIES

Dynamic Tag Manager

TECHNOLOGY

+

- Dynamic Tag Manager

AdobeAnalytics

AdobeTarget

Example Roadmap

start withpeoplethree

17

START WITH PEOPLETHREE

The people (e.g. analysts) who manage, maintain, and grow

your analytics program

PEOPLE KNOWLEDGE TECHNOLOGYThe knowledge (e.g. best practice, documentation,

standards, protocols, processes, etc) that ensure effectiveness, efficiency and

consistency

The technology which enables automation and

aggregation of data collection and analysis

18


10 / 90 RULEFor every $10 you spend on a tool you should be investing $90 "intelligent resources/analysts” (i.e. people)

$25,000

$250,000$225,000

$2,250,000

Tech People

19


10 / 90 RULEFor every $10 you spend on a tool you should be investing $90 "intelligent resources/analysts” (i.e. people)

$25,000

$250,000$225,000

$2,250,000

Tech People

seek truth,not validationfour

21

SEEK TRUTH NOT VALIDATIONFOUR

22,857,224impressions

3,374,840video views

234,438website visits

22

SEEK TRUTH NOT VALIDATIONFOUR

22,857,224

103

impressions

conversions

3,374,840video views

234,438website visits

89%bounce rate

11 secvisit duration

understand your datafive

24

UNDERSTAND YOUR DATAFIVE

25


26


understand the limits of technology

six

28

UNDERSTAND THE LIMITS OF TECHNOLOGYSIX

“We decided to test two identical versions of our homepage against each other. You’d think these two variants, being identical, would have nearly the same conversion rate…. We saw that the new variation, which was identical to the first, saw an 18.1% improvement. Even more troubling was that there was a “100%” probability of this result being accurate.

29

“I love this” “I hate this”“meh”

contextual polarity


30

27%30%

35%

57%55%

49%

43%

17%18%21% 22%

26%

0%

10%

20%

30%

40%

50%

60%

Platform 1 Platform 2 Platform 3 Human Panel

% o

f Com

men

ts A

naly

zed

Evaluating the Efficacy of Automated Sentiment

Positive Neutral Negative


31

27%30%

35%

57%55%

49%

43%

17%18%21% 22%

26%

0%

10%

20%

30%

40%

50%

60%

Platform 1 Platform 2 Platform 3 Human Panel

% o

f Com

men

ts A

naly

zed

Evaluating the Efficacy of Automated Sentiment

Positive Neutral Negative


ensure you have ownership

seven

33

ENSURE YOU HAVE OWNERSHIPSEVEN

You need a person or team to own your analytics practice and drive it forward. This entity needs to nurture the following:

VISION ACCOUNTABILITY GOVERNANCE COLLABORATION EVANGELISM

Ensure you are on track and pursuing a

vision

Ensure there is accountability to your

analytics output

Ensure governance controls are in place and observed as it relates to analytics

Encourage and drive collaboration across

the business to ensure data isn’t

stuck in silos

Advocate data driven thinking across the business and create

new stakeholders

invest in storytellers not just data crunchers

eight

35

INVEST IN STORYTELLERSEIGHT

Empirical storytelling is the process of using data to tell a rich and compelling story. In practice, empirical storytelling requires a proficiency in collecting, cleaning,

interpreting and visualizing data, but it also requires someone who can communicate the data and key message in a way that resonates with the audience

Empirical Storytelling

36


“You can have piles of facts and still fail to resonate. It’s not the information itself that’s important but the emotional impact of that information.”

“[few] grasp how to use data to tell a meaningful story that resonates both intellectually and emotionally with an audience”

Nancy Duarte – Writer, Speaker, CEO Daniel Waisberg - Analytics Advocate, Google

37


CHALLENGEGreen Mountain sold 18 billion coffee pods in two years. How can you give people a concrete sense of just how many objects that is?

SOLUTIONUse physical space to create context.

38


find meaningful ways to communicate data

nine

40

FIND MEANINGFUL WAYS TO COMMUNICATE DATANINE

41


DISTANCE

LOCATION & DIRECTION

SIZE OF ARMY

TEMPERATURE

ADVANCE

RETREAT

42


43


tentransform datainto actionable insight

45

insight is an interpretation of data

which has valueand enables

a business decision

you need insight, not more data

you need to actually take action, otherwise the insight has zero

value

TRANSFORM DATA INTO ACTIONABLE INSIGHTTEN

46


Average Time to Data Analysis

10%

17%

33%

22%

15%

3%

Minutes Hours Days Weeks Months Year ormore

4%

11%

24%

32%

22%

3%6%


Notdeployed

Average Time to Action

What’s the Value of Analytics?

47



10%

17%

33%

22%

15%

3%


4%

11%

24%

32%

22%

3%6%


Notdeployed


Better decisions made faster


48



10%

17%

33%

22%

15%

3%


4%

11%

24%

32%

22%

3%6%


Notdeployed


Better decisions made faster

Decreasing your time to insight is easier to do, and can be enabled

through technology/software

Decreasing your time to action is MUCH harder, and involves talent,

processes, governance and change management


PRACTICAL STEPS FOR SMEs

50

PRACTICAL STEPS FOR SMEs

Start with PEOPLEFocus on people, not technology. Hire an analyst or identify an analytics partner. Either way, make sure your analytics program has ownership.

Build your FOUNDATIONBuild a sturdy analytics foundation. Apply a measurement framework to ensure that you are measuring performance consistently and effectively.

Think LONG TERM, and create a ROADMAPAssess your level of analytics maturity. Don’t just focus on what you want to be able to do now with your data. Think long term and create a road map to achieve your vision.

Don’t rush into a TOOLDon’t jump into an expensive tool. Leverage free or inexpensive tools to get started. When you are ready to invest in an analytics tool (or tools) take your time, clearly define your requirements and meet with multiple vendors

Start SMALLStart small (2-3 data sources) and don’t worry about BIG data or data integration in the beginning. Focus on analyzing/understanding 1 source really well, then start to scale up.

linkedin.com/in/tracystephen

@stephen_tracy

[email protected]

analythical.com

THANK YOU

GOING GLOBAL WITH INNOVATION - International …/media/IE Singapore... · · 2016-08-23GOING...

Documents

Transcript of GOING GLOBAL WITH INNOVATION - International …/media/IE Singapore... · · 2016-08-23GOING...