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Analytics: Cost & Benefits

Analytics: Cost & Benefits. November 4, 2011 Marshall Sponder. Turning Your Data Into Insights (Business Intelligence). “ The challenge is how to take the vast quantities of data in today’s organizations and transform them into a format that is both practical and useful to the business.”

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Analytics: Cost & Benefits

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  1. Analytics: Cost & Benefits November 4, 2011 Marshall Sponder

  2. Turning Your Data Into Insights (Business Intelligence) “The challenge is how to take the vast quantities of data in today’s organizations and transform them into a format that is both practical and useful to the business.” – David Acca, Magic Software

  3. Turning Your Data Into Insights (Business Intelligence) 2 ways: common viewpoint and my own approach (TCO costs are difficult to estimate and will vary by vendor and implementation) • Business Intelligence (as it is currently understood and practiced within the BI community) • UV Analytics Implementation (uncovering Ultraviolet Data – my own approach)

  4. 1. Start by Building Departmental BI Systems (e.g., Sales)…

  5. …Then Link Departmental BI Together Into Enterprise BI

  6. Setting Up & Maintaining a Single Version of ‘Truth’ Is Costly IT personnel costs account for 71% of total costs

  7. Reasons for Embarking On a BI Program • Enhance cost-efficiency and productivity • Build stronger customer relationships • Optimize revenue-generating strategies • Monitor trends and discover anomalies • Forecast business opportunities • Avoid potential threats in time

  8. Investment in BI Saves Money “Regardless of the business climate at any point in time, companies always need to save money and make money throughtheir technology investments. These two filters are sacrosanct: all investments should serve one or both of these objectives.” — Cutter Consortium

  9. 2.‘Enablement’-Based Approach • Businesses have several sources of data, but they are often located in silos (many applications were never designed or intended to interoperate) • Social data, in particular, is often stored in a listening platform (such as Radian6, Brandwatch, Sysomos) and not integrated with other analytics (this is beginning to change) • We want to go further

  10. The Social Enablement Audit TM Map Your Data! Source: WebMetricsGuru Inc.

  11. Finding Where Data Lies, How to Enable It & Whether to Do So Source: WebMetricsGuru Inc.

  12. Enabling Data Capture Source: WebMetricsGuru Inc.

  13. Data Enablement: What Makes It Worth Doing in the First Place? • Cost savings of less than 10% are not worth chasing because the political, social, and organizational costs will likely offset the savings • Revenue growth in the 10%-plus may be worth pursuing due to the chain-reaction effect of revenue growth • Expected revenue growth of 20%-plus should be aggressively pursued if the politics, culture, and organizational lights are green Source: Cutter Consortium

  14. Preparing for Insights Via an Enablement Audit Start with a Data Enablement Audit (typically ~ 50K-100K – 3 to 6 months) • Consultative approach • Discovery process (interviews) • Audit walkthroughs • Establish business objectives (e.g., sales, online lead gen, brand awareness, increased SOV) • Map biz objectives to Key Performance Indicators • Survey existing platform solutions and map back to business objectives and KPIs while identifying measurement overlaps and gaps • Develop authoritative scorecards with standardized data extracts

  15. Is Your organization Ready for an Audit? • Will undertaking a data enablement project add to the clarity of your organization, or add to its confusion? • If the latter is the case, don't proceed, until you figure it out! (get all your “T’s” lined up first)

  16. Why Data Enablement? • Discover new patterns within your data; learn to fundamentally frame and leverage the data to advance your organization’s business. • Finding the right set of internal and external resources helps – if you choose wrong, your enablement project may not succeed, or be severely crippled, taking much longer and costing much more.

  17. Data Enablement Approach Determines the Results We Get http://www.presencing.com With the right approach this work becomes much easier and more cost effective – that is what is presented in the following slides…

  18. Pick the Right Team (It Must Be a Team Approach) • Software, systems, and devices are often complex to decode – you need a team approach, so that at least one person on the team understands what they are looking at (data) in each instance.

  19. Have the Right Point of View • Data enablement takes a particular POV, so as to see the big picture, as we’re looking for particular synergies, overlaps, gaps, and useful strengths we can leverage, to pull it all together as a unified whole.

  20. Check Your Maturity Level? Source: Collective Intellect

  21. Know When to Call in the Cavalry • The degree of optimization possible correlates directly with the wackiness of the corporate culture. • Having fresh sets of eyes helps to detect synergies and dysfunction ignored by internal stakeholders and employees, but obvious to onlookers Source: Cutter Consortium

  22. Demystifying the Challenge Of Enterprise Data • Enterprise companies made large investments in content, operations management, and commerce systems that don’t easily integrate with social media technologies. • The concept of user profiles is very similar to “ultraviolet data.” • In the enterprise, there’s unseen or “ultraviolet data” as well as multiple user profiles in multiple repositories across different corporate divisions (think CRM, CSR, Marketing, Corporate Communications, and Operations). Source: Oz Sultan

  23. Ultraviolet Data Is the Information You Could Be Catching, but Aren’t Source: Oz Sultan The Value of This Data Is Immense

  24. Next Steps to Data Enablement & Data Value • Educate the exec • Identify exec champions and data champions • Commission a DATA ENABLEMENT AUDIT (3-6 months 50K-100K cost) • Develop data policies and guidelines • Get audit, learn from it, develop new policies and plans • Manage expectations, revisit, redo audit on a regular basis Source: Oz Sultan

  25. Data Champion: Battles Won “Two or three years from now, every public relations firm that wants to be taken seriously in the C-suite and/or a lead marketing role will have someone like Marshall in its senior leadership ranks, a chief analytics officer responsible for ensuring that account leaders think more deeply about analytics and that the firm works with the best available outside suppliers to integrate analytics appropriately.” • Holmesreport.com: “Does Your Agency Need a Chief Analytics Officer ,” Davos, Switzerland

  26. http://www.smabook.com Marshall Sponder WebMetricsGuru INC. www.smabook.com www.webmetricsguru.com now.seo@gmail.com @webmetricsguru @smanalyticsbook

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