Making Money With Big Data
 

Making Money With Big Data

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Today’s online, mobile world has changed the way we consume services. Yet, regardless as to whether it’s subscription, consumption or multi-modal, today’s commerce generates enormous amounts of ...

Today’s online, mobile world has changed the way we consume services. Yet, regardless as to whether it’s subscription, consumption or multi-modal, today’s commerce generates enormous amounts of granular transactional data. The holy grail is how you leverage that underlying data to make more money.

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  • Big Data sounds cool, but really we’re talking about MORE Data than before
  • Movie Rentals -> Used to have no idea how much people viewed stuff. Movie rental store might tell you in aggregate monthly. But now with Netflix or VOD, you know every view, what time, how they found the movie through search or recommendations, how many times you paused it and where etc… many more user interactions are happening and being captured
  • Data used to be a problem of points in time. How do you store it cheaply and long term in case of an audit, legal discovery or disaster recovery so you can restore to a point in time. Or , given real-time operations you need to know immediately if there is a service problem, but historical data has no use…
  • You are measuring user activity. User’s activity impact your bottom line, if you do not provide feedback on behavior, then behavior won’t change
  • Screen from ATT Wireless Keynote at CTIA ~2006-2007http://www.att.com/gen/press-room?pid=20535&cdvn=news&newsarticleid=32318&mapcode=corporateATT Talking points: ATT operationally is managing and collecting all this data. They can see the future and it doesn’t look good, but they were afraid/unwilling to give this feedback to their users via billing. So Users clobbered their network. Then, to make matters worse they again didn’t give the feedback through billing. Instead they implemented invisible caps and throttling at the operational layer, they turned themselves into Liars unlimited data was no longer unlimited -> BIG PR disaster #2. Slowly getting Billing and operational data united. After all, complaining about cost and revenue, maybe some people WANT to pay them more for extra data…
  • If you want to influence behavior and how your services are used, you need to collect Big Data and use consumptive pricing models. If you don’t care what people do or set a generic one-size-fits-all service then simple Subscription is probably ok. Example Salesforce uses simple pricing but provides detailed limitations on service uses and volumes as a result.
  • Collect your data in billing and use it to drive the business. Example here, April usage measurements was down but revenue was up? Were people using higher value services why? Revenue and usage are way up in May, is a campaign being successful? What can we do next month? What else are we collecting in the billing system that we may want to use to drive pricing and behavior?
  • Where are people clicking in your application?Where are they stuck?What are their purchase patterns?What affinity groups are they most like?What offers do they respond to?How is their value to your business compared with others of a similar type?

Making Money With Big Data Making Money With Big Data Presentation Transcript

  • +Making Social CloudMoney With Mobile BigBig Data Data 6.14.2012
  • + Your Presenters  Curt Raffi - Host  Jeff Kaplan - THINKstrategies  Jason Mondanaro – MetraTech, Corp.
  • + What is big data? Big data is a loosely defined term used to describe data sets so large that they become awkward to work with using traditional database management techniques. Difficulties include capture, storage, search, sharing, analysis and visualization.
  • + Key macro-market challenges driving demand Economic uncertaintyChanging Growing Key challengesworkplace competition Escalating expectations
  • + Mobility, consumerization & the consumptive user  Every device  B2C & B2B
  • + Need to better understand buyer/user  Where, when, why they buy  How they behave  What they prefer  When they are at risk  How to retain them
  • + Convert data into insight  Gartner predicts more than 85 percent of Fortune 500 organizations will fail to effectively exploit big data for competitive advantage through 2015.
  • + Turn every keystroke into strategic intelligence User activity = insight
  • + Acquire & analyze data to better serve customers Heuristics + aggregated metadata =meaningful benchmark stats/KPIs
  • + Act upon customer data to target strategic solutions
  • + Improve satisfaction & profitability
  • + Result = better business relationships with customers The ultimate competitive advantage
  • + Why is data now big data?  Has anything changed in data formats and sizes?  MP3s/audio  Web server logging  Syslog and other app/device logging standards  CDRs (classic, MPLS, custom, other…)  EDI versus XML?  No… But there is a lot more of it now.  Why? Because software is eating the world.
  • + Software is eating the world
  • + Redefining the value of data  Is data for emergencies only?  Is data for operational uses only?
  • + Why billing & big data?  People’s behavior can be modified.  Remember the whole supply and demand thing?
  • + The problem of not looking at data  Remember when ATT launched the iPhone?  Data was unlimited and somehow everyone was sad.
  • + Changing models Subscription : dumb data Consumption : fat data
  • + Billing big data makes an impact
  • + A3: The new model • Enroll Analyze • Price • Meter • Test • Pay • Analyze • Offer • Refine • Plan Acquire Act
  • + Acquire  business with Build your measurement in mind.  Making good decisions requires information.  You don’t have information; you have acquired metered usage and big data.
  • + Analyze “Compute as you go.”  Slowly scouring your data for insights 24X7  Data analysis done without hurting performance  Adapt to user demands and continually improve pre- calculation, pre-correlations.  Put analysis tools in hands of decision-makers.
  • + Act You arent limited anymore.  Integrate with billing tools that can provide analysis of your products, pricing & promotions.
  • + Next sessions July 25 Analyze your big data for maximum profit August 22 Act on pricing & product strategies out of the billing system to drive more revenue