Navigating Uncertainty through Data
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Navigating Uncertainty through Data

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Navigating Uncertainty through Data. Navigate a Black Swan or Coconut Uncertainty environment using digital data resources. The keys to navigating a rapidly evolving digital landscape is to......

Navigating Uncertainty through Data. Navigate a Black Swan or Coconut Uncertainty environment using digital data resources. The keys to navigating a rapidly evolving digital landscape is to successfully measure, gain insights from the wisdom of the crowd, hypothesize, test, rinse, and repeat.

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  • 1. Sparkline Analytics Navigating j Vij ey aku m aar c om Uncertainty oa tics. Vin through Da ea naly parklin ta aj@s vino oaj @vin plus .co /vvg vnjv din vv linke .co/ vnjv
  • 2. Sparkline Analytics About this presentation •  Presented at the Google INSEAD CMO Academy. •  Presented on Wed 25 Sep 2012 at INSEAD (Singapore campus). •  PDF copy available at http://vnjv.co/cmoacad
  • 3. The Internet is a Black Swan Speaker Notes •  Black Swan events: high-impact, hard-to-predict, and rare events that are beyond the realm of normal expectations in history, science, finance and technology (Nassim Nicholas Taleb) •  In the context of 20 years ago the Internet is a Black Swan. •  In 2012 the Internet is still a Black Swan. InnovationSparkline Analytics and disruption is far from over. •  The question is, how do you navigate the ripples of this uncertain medium and its users? •  One approach: data & insights Source: http://www.flickr.com/photos/ecstaticist/5697878837/sizes/l/
  • 4. Sparkline Analytics
  • 5. Speaker Notes •  The marketing technology landscape is overwhelming.Sparkline Analytics •  Lots of disjointed tools leads to data silos that spit out confusing and sometimes contradicting metrics and data. •  Marketers & product managers are floundering in a deluge of data. •  The challenge to you is to look at the data holistically, ignore the noise, cut out the unnecessary metrics & dimensions, and most of all to glean meaningful insights.
  • 6. Sparkline Analytics Framework for Succeeding Online
  • 7. •  Vinny Sparkline Analytics •  2012 - Chief Consultant /Sparkline Analytics Founder – Sparkline Analytics •  2007-12 – Senior Conversion Specialist, Google Southeast Asia
  • 8. Sparkline Analytics Digital Analytics Framework
  • 9. Can you know it all? “ [T]here are known knowns; there are things we know that we know.Sparkline Analytics There are known unknowns; that is to say there are things that, we now know we dont know. But there are also unknown unknowns – there are things we do not know we dont know ” United States Secretary of Defense, Donald Rumsfeld (Feb 2002)
  • 10. Can you know it all? “ [T]here are known knowns; there are things we know that we know.Sparkline Analytics There are known unknowns; that is to say there are things that, we now know we dont know. But there are also unknown unknowns – there are things we do not know we dont know. ” United States Secretary of Defense, Donald Rumsfeld (Feb 2002)
  • 11. Can you know it all? “ [T]here are known knowns; there are things we know that we know.Sparkline Analytics There are known unknowns; that is to say there are things that, we now know we dont know. But there are also unknown unknowns – there are things we do not know we dont know. ” United States Secretary of Defense, Donald Rumsfeld (Feb 2002)
  • 12. Can you know it all? “ [T]here are known knowns; there are things we know that we know.Sparkline Analytics There are known unknowns; that is to say there are things that, we now know we dont know. But there are also unknown unknowns – there are things we do not know we dont know. ” United States Secretary of Defense, Donald Rumsfeld (Feb 2002)
  • 13. Google Analytics Intelligence Events Speaker Notes •  Google Analytics (GA) Intelligence Events aim to surface the unknown unknowns for your businessSparkline Analytics through your web analytics data. •  Constantly monitors your data and alerts you whenever there are any significant changes (+ve or – ve). •  Highlights specific areas to focus on and investigate.
  • 14. Google Analytics Intelligence Events Speaker Notes •  Case Study: Shoes of Prey •  Download full case study at http://vnjv.co/sopgaia Sparkline Analytics
  • 15. “We constantly monitor the Intelligence Alerts reports to look for unusual spikes in overnight traffic from referring sites … Since theSparkline Analytics web moves at light speed, we want to ensure that we are speaking to people writing about us as soon as they publish and not a week or two later – because that’s the equivalent of two months in web time!” Michael Fox, Co-Founder & Director of Operations, Shoes of Prey
  • 16. Speaker Notes •  A spike in intelligence alerts with an unexpected surge in traffic from referrals.Sparkline Analytics
  • 17. Speaker Notes •  Analyzing the referrals, Shoes of Prey saw a surge in traffic from polkadotbride.com •  Engagement from that source is also pretty healthy. High time on site and pages/visit.Sparkline Analytics
  • 18. Sparkline Analytics 10% increase in sales
  • 19. 10% increase in sales Speaker Notes “We knew that their [Polka Dot Bride’s] audience would be receptive and it was a natural choice to partner with them,” he says. “Together we ran a competition for their readers to design and win a pair of wedding shoes on Shoes of Prey. This helped kick-start the launch of our range of wedding shoes, and we’re seeing great sales as a result.” Michael credits the 10% uplift inSparkline Analytics sales following the release of the new wedding shoe range to this intelligent approach.
  • 20. “So much happens around us that we don’t always know, and Intelligence Alerts allows us to become aware of these ‘unknownSparkline Analytics unknowns’ and make sure we’re responding effectively.” Michael Fox, Co-Founder & Director of Operations, Shoes of Prey
  • 21. Sparkline Analytics Digital Analytics Framework
  • 22. Speaker Notes •  Every search conducted on a search engine is a signal of intent.Sparkline Analytics •  Thus the stored search query history for a search engine can be viewed as a “database of intentions” (term credited to John Battelle). •  Querying this database can reveal powerful insights into what is top of mind right now and how preferences & tastes change over time. •  One such database: Google Insights for Search.
  • 23. Sparkline Analytics
  • 24. Speaker Notes •  Use Insights for Search to see if there are subtle changes in trends. •  Here is an example looking at whether people search for 5-, 4-, or 3-star hotels more. •  What’s interesting to see is that while search volumes for 3-star hotels have remained steady in the last 8 years, queries for 5- and 4-star hotels are starting to decline. •  What next? Find out why. Interview your users. Observe behaviour. Modify strategy. Test & learn. Sparkline Analytics
  • 25. Sparkline Analytics
  • 26. Speaker Notes •  It’s interesting to see that in 2 of the top 10 markets – India & Malaysia – searches for 3-star hotels exceed searches for 4-star hotels. •  Related & rising terms can provide further insights (e.g. particular interest in Delhi).Sparkline Analytics
  • 27. Sparkline Analytics
  • 28. Sparkline Analytics Speaker Notes •  Search query volumes can often be a predictor for real-world events. •  For example, strong correlation between search terms related to flu symptoms and flu outbreaks. •  Google.org’s Flu Trends tool aims to estimate flu activity in a country by analyzing flu-related search term volumes.
  • 29. Sparkline Analytics Social Listening & Predictions http://vnjv.co/Sj5djk •  Evaluated Tweets & conversations to predict trades •  Outperformed other strategies by 1.4-11% •  Outperformed the Dow Jones Industrial Average
  • 30. Speaker Notes •  While Insights for Search & social listening is great for understanding overall consumer intent, don’t forget to also speak to your own customers. •  Speaking to your users no longer needs to be painful or expensive to set up. Sparkline Analytics
  • 31. Sparkline Analytics On-Site Surveys
  • 32. Sparkline Analytics On-Site Surveys
  • 33. Sparkline Analytics On-Site Surveys
  • 34. Sparkline Analytics Off-Site Surveys
  • 35. Sparkline Analytics User Testing
  • 36. Sparkline Analytics User Testing
  • 37. Sparkline Analytics User Testing
  • 38. Sparkline Analytics Digital Analytics Framework
  • 39. Sparkline Analytics Digital Analytics Framework
  • 40. Sparkline Analytics A/B/Multivariate Testing Speaker Notes •  HiPPO = Highest Paid Person’s Opinion •  Democratize creativity •  Take the HiPPO out of the equation
  • 41. Sparkline Analytics On-Site Testing – A or B? A B
  • 42. Sparkline Analytics On-Site Testing B 15% increase in clicks
  • 43. Sparkline Analytics Digital Analytics Framework
  • 44. Thoughts for TomorrowSparkline Analytics
  • 45. Getting on the Big Data BandwagonSparkline Analytics
  • 46. Exponential Data Growth Digital information in the world –"Sparkline Analytics videos, photos, music, text, etc. 2010 800 exabytes 46 2020 53 zettabytes
  • 47. Exponential Data GrowthSparkline Analytics Source: unknown
  • 48. Getting on the Big Data BandwagonSparkline Analytics Source: http://www.capgemini.com/technology-blog/2012/09/big-data-vendors-technologies/
  • 49. What’s different about Big Data? •  You don’t have to be stuck with a pre-defined database schema (~ give up control). •  Databases are no longer rows & columns –Sparkline Analytics rather, they are networks of objects. •  Data is not rows in a table – they are objects with attributes that can evolve over time. •  Run ad-hoc queries over large datasets in quick time.
  • 50. Big Data: Easy to get started with minimal costsSparkline Analytics
  • 51. Is the CMO’s Successor the “Chief Growth Officer”? •  Recommended reading: http://vnjv.co/Sjbjjq •  The marketer’s job is to get more users.Sparkline Analytics •  Leverage large platforms (e.g. Facebook, iOS) to scale rapidly. •  Your marketer also needs to be an “engineer” in order to exploit these platforms.
  • 52. Sparkline Analytics aar oa j Vij ey aku m tics. c om Q&A Vin parklin ea naly aj@s vino oaj @vin plus .co /vvg vnjv din vv linke .co/ vnjv