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Using Web Data to Drive Revenue and Reduce Costs
 

Using Web Data to Drive Revenue and Reduce Costs

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This presentation is designed to help companies strengthen their competitive advantage by leveraging publicly available Web sources. ...

This presentation is designed to help companies strengthen their competitive advantage by leveraging publicly available Web sources.

Entrepreneurs, global industry leaders and enterprises of all sizes are turning Web data into lucrative opportunities – creating new revenue-generating products, reducing costs and re-engineering workflows to optimize pricing, streamline reporting, ensure compliance, engage interactively with clients and more.

This presentation uses a variety of success stories to illustrate ways in which businesses can use Web data to drive revenue and streamline operations.

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Using Web Data to Drive Revenue and Reduce Costs Using Web Data to Drive Revenue and Reduce Costs Presentation Transcript

  • Using Web Data to Drive Revenueand Reduce CostsPresenters: Keith Cooper, CEO, ConnotateChristian Giarretta, VP of Sales Engineering, ConnotateModerator: Gina Cerami, VP of Marketing, ConnotateDate: March 12, 2013
  • Presenters2Keith CooperChief Executive OfficerChris GiarrettaVP of Sales Engineering
  • Today’s Discussion• Why Web Data?• Drive revenue• Reduce costs and streamline processes• Automation Options• Scoping Your Project• Five steps to success• Evaluating Providers• Five questions to ask• Q&A3
  • The Web Provides the Largest Source of Data EverAssembled…4News sitesGovernment sitesJob boardsFinancial sites Corporate siteseCommerce sitesRegulatory sites Retail sitesSocial forumsHealthcare sitesState and local court sites
  • …and the Data Continues to Grow and Changeat Unprecedented Rates• 1.2 zettabytes of new digital content created in 2011* (zettabyte = 1B terrabytes)• The Internet will double in size every 5.32 years **5* IDC’s The Digital Universe** PhysOrg.com
  • 6In Order to Use All of That Information…YouNeed to Find It, Filter It and Format It…
  • 7…Then You Can Turn Web Data into ProfitsSample Use Cases:Competitive intelligenceNews aggregationBackground checkPrice optimizationInvestment researchOnline ad usage reportsMarket researchRegulatory updatesSales intelligenceBusiness risk assessmentData directoriesAggregate construction bidsSupply chain monitoringBrand monitoringVoice of the CustomerSocial media monitoring
  • 8Using Web Data to Drive Revenue
  • Deliver High-Value Directories: HG Data• Challenge/Opportunity• Build the largest, most accurate database of B2B tech customer intelligence• Combine public and private content in unique ways to reveal new insights• Solution: Use automation to cost-effectively extractbusiness intelligence from millions of Web documents• 10,000+ agents built to date• Highly granular database of 1M + profiles of enterprise technology users• Business Benefit• Successful go-to-market: disruptive technology replaces manual process• Extracting new value in business area long hobbled by stale sources9
  • IDEXQualcommAlcatel-LucentAT&T SwisscomVerizonVodafoneBell CanadaCasio ComputerResearch In MotionBandRichInc.KyoceraFujitsuPanasonicHitachiAsahiGlassCanon Inc.Lion CorporationSupplier to Customer Value AddedResellerFishbowl SolutionsCintra SoftwareTata ConsultancyLaw Firm of William Koy LLPDistributorNalcoAvnet TechnologySolutionsImationStrategic AllianceReveals Customer Relationships BetweenBusiness Entities: HG Data
  • Gain Transparency Mid-Quarter to BetterPredict Company Performance: Financial Firm• Challenge/Opportunity• Gain daily/weekly/monthly visibility into inventory/sales of companies andmarket segments where data is made public only on a quarterly basis• Solution: Continually monitor available inventory and otherdata posted on websites in those markets• Use automation to capture precise indicators on an ongoing basis• Analyze trends and make predictions• Business Benefit• Transparency supports more accurate predictions of financial results tosupport smarter investment decisions11
  • Gain Transparency Mid-Quarter: Web Page12Camera sales:• Check camera pricesdaily• Full-sweep of camerainventory weekly• Map trends, spotanomalies• Compare one or twotargeted suppliers tooverall segment averages
  • Web Page is Transformed into Usable Data13
  • Enhance Risk Assessment:Business Information Provider• Challenge/Opportunity• Deliver updates/alerts on changes in assigned risk status of counterparties toa financial transaction instead of just producing a static report• Solution: Use automation to monitor websites for updates• Monitors sites for changes that affect a business entity’s assigned risk status– mergers, acquisitions, bankruptcies, de-listings, regulatory changes,sanctions• Business Benefit:• First-to-market with a risk assessment service offering continual monitoring• Fresh Web data is integrated into customer (financial institution) workflow –enhancing customer “stickiness”• Automated Web data extraction solution delivered a 6-month payback14
  • Risk Assessment: Web Page15
  • Web Page is Transformed into Usable Data16
  • Price Optimization: Sigma-Aldrich• Challenge/Opportunity• Optimize product positioning in B2B market where buying decisions can bemotivated by a few dollars or cents• Competitors’ prices are changing constantly• Solution: Replace manual spot checking of prices withprecise automated Web data extraction• Continually extracts sizing/pricing on more than 150,000 products• Acquired usable data for historical trend analysis• Business Benefit• Optimizes prices to improve profit margins• Reduced manpower devoted to data collection by 50%17
  • Price Optimization Pays Off18Increase revenue2%- 4%$8.75M - $16B for Fortune 500 Company2012 Study:Companies thatsuccessfullyimplement priceoptimization willrealize 2 to 4%improvement intotal revenue
  • 19Using Web Data to Reduce Costs
  • Automated Records Check Improves Speedand Accuracy: Tandem Select• Challenge/Opportunity• Criminal records are highly structured; accuracy and reliability is key forpeople making hiring decisions• Deliver guaranteed turnaround time on accurate checks without adding staff• Solution: Replace manual processes to extract recordsdirectly from court websites on demand• Business Benefit• Average background check time reduced from hours/days to minutes• Much better quality - far fewer errors – guaranteed turnaround time• In 12 months, order fulfillment increased 62% while operating expensesdecreased $150,00020
  • Automated Records Check (FetchCheck):Tandem Select21Standard customer order at Tandem siteTandem’s application calls Connotate/FetchCheck with a Web services requestAgent extracts, transforms and normalizes dataInformation is returned to calling applicationProcess takes between 6 and 20 seconds to complete
  • Improve Revenue Collection Processes withAccurate Reporting: Interactive Advertising• Challenge/Opportunity• Billing reconciliation was taking weeks/months (14 people overseeing dailydata collection, 5 days/week)• Usage data posted on multiple password-protected Web sites (portals)• Solution: Automated Web data collection accesses portalsfor highly-accurate reporting and billing• Reported data is 100% error-free; data is collected 365 days/year• Business Benefit• Quality data supports timely, accurate billing (reconciliation in days)• Aggregated views enable ad placement optimization increasing customer adrevenue 30 – 300%22
  • Web Page is Transformed into Usable Data231. Navigates the portal 2. Precisely captures statistics3. Turns datainto Excel
  • 24Automation Options
  • Turning Web Data into Profits: Text25
  • Turning Web Data into Profits: Files26
  • A Closer Look at Different Approaches27Approach ConsiderationsManual offshore No economies of scale; human error compromises quality.CrowdsourcingA viable approach for complex tasks like product matchingof apparel for one-shot projects; may be less reliable forongoing monitoring and long-term projects.In-house or low-costWeb scrapersNot resilient; scrapers break when Web page HTMLchanges, expensive programmers must fix scripts,increasing total cost of ownership (TCO)Robust automationinstalled on-premiseHigh degree of control; better resiliency to change – reducedTCO however, project complexity and future needs mayindicated hosted solution is betterRobust solution hostedby vendorHighest resiliency; no maintenance burden – reduced TCO;24/7 follow-the-sun support; infinitely scalable and no capitalexpenditures for hardware or IT resources.
  • Manual versus Automated Approaches28Your Data Needs To Automate or Not?High-volume data monitoring  AutomateVariety of sources  AutomateFrequent updates and/or monitoring  AutomateNeed for data post-processing  AutomateSmall amount of data required just a fewtimes a year from very simple sitesA manual approach may beadequateOne-time feed of very specific data Purchase data from 3rd partyProduct matching applications where uniqueidentifiers are not availableMay want to considercrowdsourcing
  • Polling Question: Web Data CollectionAre you currently collecting data from the Web?Yes – we are doing this using an automated processYes – we are collecting Web data using a manual processYes – we are using BOTH manual and automated approachesNo – we are not collecting Web data
  • 30Scope Your Project: 5 Steps
  • Scoping Your Project: 5 Steps to Success1. Clarify what you want to do with thedata2. Look at what’s happening manuallytoday – find out how users areaccessing the Web – these are targetsfor automation3. Identify the sources you need4. Narrow your scope….you may notneed “everything”5. Anticipate future requirements31
  • 32Evaluating Providers: 5 Questions to Ask
  • Evaluating Providers: 5 Questions to Ask• Can it scale up easily and quickly?Look for a proven ability to handle high-volume, high-frequency applications withoutdraining your IT resources• Is it resilient ?Can it withstand website formatting changes – or will it “break,” requiring code fixes?• How does it detect / deliver updates?You’ll save time and money with change detection with highlighting – the ability to detectand deliver “just the changes”• Does it support my operational workflows?Built-in job scheduling, resource shared access and other features can increaseefficiencies and coordinate workflow• What are the deployment options?Flexible options for on-premise and hosted solutions should adapt to your needs33
  • Polling Question: The Value of AutomatedWeb Data CollectionDo you believe automating Web data monitoring andextraction could add value to your business?Yes – we are doing this nowYes – we are planning a project in the near futureNo – not at this timeI need more information before deciding
  • Here’s What Success Looks Like…Create new andenhancedproducts andservices fasterPredict companyand marketperformancefaster, better: gaintransparency intonon-transparentmarketsMonitorcompetitorprices tooptimize productpositioningAutomatereporting fortimely, accuraterevenuecollection35… Connotate’s experts are ready to take you there
  • Q & AConnotate will email a link to this presentation as well as acopy of the slides to you within 2 business days.If you have an immediate need and would like us to contactyou about a forthcoming project, please check the appropriatebox in the last polling question or call (+1) 732-296-8844.For more information, you may also visit www.connotate.comor www.connotate.co.uk.36
  • Thank YouIf you have an immediate need and would like us to contactyou about a forthcoming project, please check the appropriatebox in the last polling question or call (+1) 732-296-8844.For more information, visitwww.connotate.com or www.connotate.co.uk37