5 Proven Strategies For a Successful Analytics Product Launch

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Most companies focus on the technical challenges involved with bringing new analytics and business intelligence capabilities to market and overlook key go-to-market considerations.

With over 7 years experience helping our customers launch 100+ successful products in a variety of industries, GoodData has developed a proven methodology for taking analytics to market. We’ve partnered with NextWave Performance to share our top five strategies that will secure your successful launch.

In this 1-hour session, experts from NextWave and GoodData discuss taking an analytics product to market and teach you how to:

- Gain competitive advantage
- Build a comprehensive plan that avoids common mistakes
- Monetize your data!

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5 Proven Strategies For a Successful Analytics Product Launch

  1. 1. GoodData Confidential. 2013 GoodData Corporation. All rights reserved. June 10, 2014 5 Proven Strategies to successfully launch an analytics product
  2. 2. GoodData Confidential. 2013 GoodData Corporation. All rights reserved. Kevin Smith, NextWave Performance Speakers Cory Vander Jagt, GoodData
  3. 3. GoodData Confidential. 2013 GoodData Corporation. All rights reserved. Our Discussion ▶Overview ▶Considerations for Success ▶ Monetization Pathway What we see Case Studies ▶ Questions and Answers ! !
  4. 4. GoodData Confidential. 2014 GoodData Corporation. All rights reserved. GoodData is a business analytics Platform as a Service (PaaS) that supports the entire lifecycle of data and analytics, from storage and data governance to data discovery. ! What Is GoodData?
  5. 5. GoodData Confidential. 2014 GoodData Corporation. All rights reserved. GoodData Corporate Overview ▶ Serving 40,000+ companies ▶ Nearly 300 employees, including 150 engineers ▶ Founded in 2007 ▶ $75.5M in funding ▶ Headquarters in San Francisco ▶ Other offices in Boston, Portland, Prague, Brno ! ! !
  6. 6. GoodData Confidential. 2013 GoodData Corporation. All rights reserved. Our Customers Think BIG How do I use analytics to transform my business? How do I get critical analytics to my customers? What data am I not capitalizing on yet?
  7. 7. GoodData Confidential. 2014 GoodData Corporation. All rights reserved. Embedded Analytics Powered By GoodData
  8. 8. GoodData Confidential. 2014 GoodData Corporation. All rights reserved. 40,000+DWHs under management 99.5% Uptime SLA 85% Adoption Terabytes of Data under management 100+ Powered By Partners 1,500,000 Data integrations per week 72k Users at one partner Security Certified OUR GOODDATA
  9. 9. GoodData Confidential. 2014 GoodData Corporation. All rights reserved. 9 Managing Partner/Co-Founder NextWave Performance NOW VP, Product Management/Service Design International Asset Systems Managing Director EffectiveUI Director, Solution Design SAP Labs VP, Product Management Retreon Sr. Director, Engineer Program Management Qwest (LCI) . . . BEFORE Sr. Director, Product Strategy & UX ServiceSource I’m Kevin Smith
  10. 10. GoodData Confidential. 2014 GoodData Corporation. All rights reserved. 10 This is NextWave Performance Based in Denver, CO ∙ Established 2005 Product strategy Performance strategy “What should this product do and for whom?” “How can I optimize my services and processes”
  11. 11. GoodData Confidential. 2014 GoodData Corporation. All rights reserved. I’ve implemented “Powered By” four times 11 International Asset Systems “Dispatch Manager” Ad hoc analytics for container logistics International Asset Systems “Equipment Repair” Ad hoc analytics for inventory repair ServiceSource “Renew OnDemand” Offline analytics for sales renewals DemandBase “Performance Manager” Analytics for ad campaign management
  12. 12. GoodData Confidential. 2014 GoodData Corporation. All rights reserved. My GoodData implementation statistics number of successful Powered by GoodData implementations 12 4 90 100 average days it took from project concept to project implemented percent of time GoodData was ready before any other part of the product
  13. 13. GoodData Confidential. 2014 GoodData Corporation. All rights reserved. % of times go-to-market issues have had been more problematic than technical issues 13 100 And…
  14. 14. GoodData Confidential. 2014 GoodData Corporation. All rights reserved. Poll - Which best describes your company? 1 - Evaluating embedded analytics or a white-label offering 2 - Currently in the development phase 3 - Development complete, pre-launch 4 - One or more products in market 5 - Don’t know / unsure Type Your Answer In The Q/A Box
  15. 15. GoodData Confidential. 2014 GoodData Corporation. All rights reserved. 15 How do you avoid the major go-to-market mistakes for a Powered By product?
  16. 16. GoodData Confidential. 2014 GoodData Corporation. All rights reserved. You need to plan beyond just the technical details Determine vision for the analytics within core product Perform persona definition/key questions Define initial db’s/metrics/ reports needed for personas Identify data sources for analytics Perform initial data extracts Define internal processes (provisioning, support) Create initial project Create ETL processes QA all calculations for metrics/reports QA ETL process Provide training to Sales and Support teams Modify contract language (3rd party, SLAs, bench, etc) Have customers sign updated contracts Establish on- going training system Sign-off on metrics/reports Sign-off on ETL All contracts updated Update collateral, logos, ads, etc. Perform friendly customer beta Gather beta feedback Fix issues/ roadmap needs Start Ready to on- board users Implement SSO Embed BI system in iFrame in app Perform QA Determine integration with product Determine go- to-market/offer package, pricing Develop rollout plan Pricing strategy QA inadequate Marketing plan Training plan Customer beta Change management Product Definition 1 User Definition 2 Selling plan 3 Legal details 5 Support processes 4
  17. 17. GoodData Confidential. 2014 GoodData Corporation. All rights reserved. ! The Five Proven Strategies for a Successful Analytics Product Launch
  18. 18. GoodData Confidential. 2014 GoodData Corporation. All rights reserved. Know how BI will fit in with the existing product1
  19. 19. GoodData Confidential. 2014 GoodData Corporation. All rights reserved. 19 What is the product? Key Product Decisions We Really Should Have Considered Before Starting Implementation Who gets to use it? What’s the tiering/ pricing structure? Is GoodData white-labeled or black- labeled? How is it sold (same contract, separate paper, etc.) How are custom requests handled? How are legacy customers brought on- board? What is the business problem being solved though the addition of analytics? 1
  20. 20. GoodData Confidential. 2014 GoodData Corporation. All rights reserved. 20 What is the product? Product Workshop Key Product Decisions We Really Should Have Considered Before Starting Implementation Who gets to use it? What’s the tiering/ pricing structure? Is GoodData white-labeled or black- labeled? How is it sold (same contract, separate paper, etc.) How are custom requests handled? How are legacy customers brought on- board? What is the business problem being solved though the addition of analytics? 1
  21. 21. GoodData Confidential. 2014 GoodData Corporation. All rights reserved. 21 • Decide what you want to be when you grow up • Select your personas • Develop your pricing/tiering model • Determine responsibilities • Identify boundaries The Workshop1
  22. 22. GoodData Confidential. 2014 GoodData Corporation. All rights reserved. Decide what you want to be Framework from Reaching Escape Velocity, Geoffrey Moore, 2012 Differentiate Neutralize Optimize Core Value Key Metric Main Challenge Separation Unmatchable How far? Comparability Good enough How fast? Productivity Best in class How deep? 1
  23. 23. GoodData Confidential. 2014 GoodData Corporation. All rights reserved. Because it determines your tactics Framework from Reaching Escape Velocity, Geoffrey Moore, 2012 Differentiate Neutralize Optimize If you choose Instead of You get Parity with the competition vs Unmatchable functionality → Squandered resources as competitors quickly catch up Best-in-class vs Good enough → Wasted budget Good enough vs Best in class → Higher operating costs than the competition In this mode 1
  24. 24. GoodData Confidential. 2014 GoodData Corporation. All rights reserved. 24 What do you mean by BI?1 You keep using that word. I do not think it means what you think it means.
  25. 25. GoodData Confidential. 2014 GoodData Corporation. All rights reserved. Category Types of Analytics Questions Answered Prescriptive • Optimization • Randomized testing • What’s the best that can happen? • What happens if we try this? Predictive • Predictive modeling/forecasting • Statistical modeling • What will happen next? • What is making this happen? Diagnostic • Data exploration • Intuitive visuals • Why did this happen? • What insights can I gain? Descriptive • Alerts • Query/drill-down • Ad hoc reports/scorecards • Standard reports • What actions are needed? • What is the problem? • How many, often, where? • What happened? SOURCE: Disambiguating Analytics, July 2, 2013, Sanjeev Kumar, International Institute for Analytics SOURCE: Magic Quadrant for Business Intelligence and Analytics Platforms, February 5, 2013, Analyst(s): Kurt Schlegel, Rita L. Sallam, Daniel Yuen, Joao Tapadinhas Capability 25 What do you mean by BI?1
  26. 26. GoodData Confidential. 2014 GoodData Corporation. All rights reserved. Stuff We Won’t Do Stuff We Won’t Do StuffWeWon’tDo StuffWeWon’tDo Set your product boundaries1 The Product Stuff We’ll Do as Part of the Core Product Stuff We’ll Do for an Extra Fee
  27. 27. GoodData Confidential. 2014 GoodData Corporation. All rights reserved. Sample pricing & tiering plan Standard • Included for all customers • Uses standard project/ template • No customization • Users cannot modify dashboards • No internal or external benchmarking • 1 year historical data Plus Pro • Upgrade from Standard • Uses standard project/ template • Customization for an additional fee • Users cannot modify dashboards • Internal benchmarking included — no external benchmarking • 2 years historical data • Upgrade from Standard/Plus • Uses standard project and is customized per customer needs • Users can modify dashboards • Includes external benchmarking • 3 years historical data +25% +50% 1 +5%
  28. 28. GoodData Confidential. 2014 GoodData Corporation. All rights reserved. Go minimal first and evolve1 FULL PREDICTIVE for version 1.0! ● De-risks decisions ● Establishes a roadmap for future development ● Allows for emergence
  29. 29. GoodData Confidential. 2014 GoodData Corporation. All rights reserved. Know who the users are2
  30. 30. GoodData Confidential. 2014 GoodData Corporation. All rights reserved. 30 Who is the user? Potential BI Users Your sales team Your finance team Your support team End Users Executive management Mid-level management Front-line users Reporting analysts Buyers Executive sponsor Implementation owner Your operations team 2 3 1 2
  31. 31. GoodData Confidential. 2014 GoodData Corporation. All rights reserved. Start with a persona Role or Job Title: VP Customer Advocacy Key Characteristics “We need to know if customers are unhappy with our service, what aspects of our service, and what we can do to improve performance.” • Looked to for answers • Is a trusted advisor to the Sales team • Focused on root cause analysis • Uses NPS to track performance Frustrations and Pain Points • I feel like I’m operating blindly until the quarterly reviews occur • I have to rely on others to build reports to tell me what’s going on • I focus on individual customers & issues that seem to be “hot” that day — I don’t know if these are the right things • I worry that I’m not making any long-term improvements, just day-to-day tactical fixes • It takes us way too long to identify trends and patterns in customer usage. By the time we see them, it’s too late.. Questions Other applications Feature requests • Is customer health trending up or down and why? • Are there global issues that I can correct to improve retention? • If I fix the issues, how much uplift do I get? • How do we compare to everyone else for retention and customer satisfaction? • SurveyMonkey • MS Excel • NPS tools (Verint,Vovici) • Tableau • Allow customers with high value and potential issues to be made easily identifiable • Show trends over time globally, for segments, products, and specific customers. • Show how I perform relative to peers • Allow me to track corrective actions made and the resultant performance shifts. Jon 2
  32. 32. GoodData Confidential. 2014 GoodData Corporation. All rights reserved. 32 Use persona questions to determine dashboard and chart priorities AnalyticGroupNeedPersona CMO Marketing Manager Sales VP See long-term trends Understand how budget is spent ID underserved opportunities View team performance Increase customer interest Neutralize competition CMO Dashboard Chart 1 Chart 2 Chart 3 Chart 4 Chart 5 Chart 1 Chart 3 Chart 4 Chart 6 Chart 7 Chart 1 Chart 7 … Marketing Dashboard CMO Dashboard Marketing Dashboard 2
  33. 33. GoodData Confidential. 2014 GoodData Corporation. All rights reserved. Define the Sales rollout strategy3
  34. 34. GoodData Confidential. 2014 GoodData Corporation. All rights reserved. 34 How to mess up the sales rollout 1 Failure to provide a schedule 2 Poor communication of capabilities 3 Failure to provide training 4 Lack of boundary details 5 Allowing early demos now, with 100% more analytics! 3
  35. 35. GoodData Confidential. 2014 GoodData Corporation. All rights reserved. 35 Making Sales successful • Conduct multiple training sessions (awareness, functionality, processes) • Keep a running “master metrics list” that all internal users can access • Prepare “plain-English” definitions for each report, metric, dimension, filter • Incorporate GoodData training into the core app’s training processes 3
  36. 36. GoodData Confidential. 2014 GoodData Corporation. All rights reserved. Put support processes in place4
  37. 37. GoodData Confidential. 2014 GoodData Corporation. All rights reserved. 37 Support processes are key to success SaaSServices/Data Management Provisioning Training Support Marketing Finance ChangeManagement Core Product BI FunctionalityCompanies focus on this… …and forget about this (until it’s too late) 4
  38. 38. GoodData Confidential. 2014 GoodData Corporation. All rights reserved. 38 Getting the processes right4 Workshop brainstorm Build mind map of tasks Create project plan Make people accountable Conduct status reviews Do a walk- through (role-play) Plan for issues (FMEA/RACI) EVERYTHING ready? Launch! FIX! yes no
  39. 39. GoodData Confidential. 2014 GoodData Corporation. All rights reserved. 39 Planning for problems4ProcessStep Component(s) Effected FailureMode PotentialEffects SeverityofFailure (1=low,10=high) ProbabilityofFailure Occurrence (1=low,10=high) DetectionControl(s) Description Effective-nessof DetectionControls (1=high,10=low) RiskPriorityNumber (RPN) Action RecommendedUpon Failure Responsibility #5: Submit order to Order Entry group Order Order not delivered within 24 hrs of signature Order not entered into OE system on time 5 8 None 10 400 Contact Sales Rep to get contract delivered OE manager Failure Modes chart RACI Matrix • “When a problem occurs, how are we going to respond?” • “What kinds of problems might we expect?” • “Who is responsible for each process step?” • “Who is accountable for each process step?” • “Who is consulted for a given process step?” • “Who is involved at each process step?”
  40. 40. GoodData Confidential. 2014 GoodData Corporation. All rights reserved. Anticipate legal and contract scenarios5
  41. 41. GoodData Confidential. 2014 GoodData Corporation. All rights reserved. 41 Avoiding pain from lawyers5 I hear you want to want implement a new product that requires me to re-visit all of our contractual obligations to customers. By next week. “ ”
  42. 42. GoodData Confidential. 2014 GoodData Corporation. All rights reserved. 42 Avoiding pain from lawyers • Get the legal team in the loop early, update them often • Ensure that the product’s SLA = analytics’ SLA • Update contracts to reflect 3rd party data processing • Consider having customers sign new 
 contracts or amendments • Think through benchmarking
 implications 5
  43. 43. GoodData Confidential. 2014 GoodData Corporation. All rights reserved. Conduct product definition workshop and define how GoodData will fit in Create personas and map to workflows Define sales roll-out strategy Brainstorm impacted processes, build a plan, review progress regularly Anticipate legal and contract scenarios Recap: Strategies for a Successful Launch 4 1 2 3 5
  44. 44. GoodData Confidential. 2014 GoodData Corporation. All rights reserved. ▶ End-to-end program designed from a partnership POV ▶ 100+ implementations = best practices ▶ 50+ unique business models in place ▶ NextWave is available for deeper consulting Powered By GoodData is a Program LAUNCH Product Definition Product Mgmt Engineering Marketing/ Product Marketing Support Sales Ongoing Marketing & Product Enhancements PROGRAM EXAMPLE KEY GROUP Product Rollout Enablement Cross-Functional Teams
  45. 45. GoodData Confidential. 2013 GoodData Corporation. All rights reserved. Case Studies Business Model ! Pricing Strategy ! Number of Products ! Uplift ! Result ! Subscription based License + Maintenance A la carteIncluded in price 2 20% - 30% 11 verticals 20% - 80% #1 reason people upgrade Fastest growing unit * managed service * self-service
  46. 46. GoodData Confidential. 2013 GoodData Corporation. All rights reserved. ‣  Anonymous benchmarking against industry peers ‣  Include CRM, ERP, and other data sources ‣  Out of the box reporting ‣  Simple dashboards ‣  Basic filtering 1 2 3 4 ‣  Out of the box reporting ‣  Simple dashboards ‣  Basic filtering ‣  Custom reporting & dashboards ‣  Ad hoc reporting ‣  Filtering ‣  Refresh interval ‣  Notifications ‣  Anonymous benchmarking against industry peers ‣  Include CRM, ERP, and other data sources Basic Analytics Premium Analytics Benchmarking Additional Data Sources Powered By GoodData Pathway
  47. 47. GoodData Confidential. 2013 GoodData Corporation. All rights reserved. ‣  Anonymous benchmarking against industry peers ‣  Include CRM, ERP, and other data sources ‣  Out of the box reporting ‣  Simple dashboards ‣  Basic filtering 1 2 3 4 ‣  Out of the box reporting ‣  Simple dashboards ‣  Basic filtering ‣  Custom reporting & dashboards ‣  Ad hoc reporting ‣  Filtering ‣  Refresh interval ‣  Notifications ‣  Anonymous benchmarking against industry peers ‣  Include CRM, ERP, and other data sources Basic Analytics Premium Analytics Benchmarking Additional Data Sources “The #1 reason our customers upgrade.” “Upsell at the click of a button.” “Building a $10M+ business practice.” LEADING MEDIA AGENCY “Instant dashboards.” Pathway in Practice
  48. 48. GoodData Confidential. 2013 GoodData Corporation. All rights reserved. Questions?
  49. 49. GoodData Confidential. 2013 GoodData Corporation. All rights reserved. Thanks! kevinmichaelsmith
 cvanderjagt www.gooddata.com
 www.nextwaveperformance.com team@gooddata.com ksmith@nextwaveperformance.com

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