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7 Pillars Of Data Strategy - High Five 2018

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Data and analytics companies are seemingly everywhere, many claiming to be panaceas for all your data woes. As much as we like to rely on technology, the human factor is still the most important part of the equation. Clear strategy and focused leadership is required to make transformative, meaningful change in data culture, influencing capture, analysis, and presentation of your company’s data.

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7 Pillars Of Data Strategy - High Five 2018

  1. 1. METHOD SAVVY - ALL RIGHTS RESERVED H I G H F I V E 2 0 1 8 G E T T I N G T H E M O S T O U T O F Y O U R D A T A : 7 P I L L A R S O F D A T A S T R A T E G Y
  2. 2. METHOD SAVVY - ALL RIGHTS RESERVED A G E N D A • Data’s relationship to modern marketing • Data and Marketing Technology (MarTech) • Data strategy • Conducting useful analysis @EvanLevy
  3. 3. METHOD SAVVY - ALL RIGHTS RESERVED Who is this guy? @EvanLevy
  4. 4. METHOD SAVVY - ALL RIGHTS RESERVED W H O I S T H I S G U Y ? Evan Levy Director of Advertising Method Savvy @EvanLevy @EvanLevy www.evan-levy.com
  5. 5. METHOD SAVVY - ALL RIGHTS RESERVED The Data Economy @EvanLevy
  6. 6. METHOD SAVVY - ALL RIGHTS RESERVED
  7. 7. METHOD SAVVY - ALL RIGHTS RESERVED “More data is created every two days than existed from 2003 to the dawn of human existence.” #High5Co nf @EvanLe vy
  8. 8. METHOD SAVVY - ALL RIGHTS RESERVED D A T A I S N O W U B I Q U I T O U S • Proper management and utilization of this resource will differentiate in the short term. • This will be assumed and mandatory to stay competitive in years to come. @EvanLevy
  9. 9. METHOD SAVVY - ALL RIGHTS RESERVED D A T A & A N A L Y T I C S S K I L L S C R I T I C A L T O S U C C E S S • To be successful in 2020: the most important skill will be the ability to work with data & analytics.
  10. 10. METHOD SAVVY - ALL RIGHTS RESERVED V A L U E F R O M D A T A = H O W I T ’ S U S E D Like oil – raw data is worthless.
  11. 11. METHOD SAVVY - ALL RIGHTS RESERVED Data must be organized, “refined” and put to use to be valuable. Expensive analytics software with no strategy is the modern “throw money at a problem and hope it goes away.” #High5Co nf @EvanLe vy
  12. 12. METHOD SAVVY - ALL RIGHTS RESERVED How can marketers get the most out of their data? @EvanLevy
  13. 13. METHOD SAVVY - ALL RIGHTS RESERVED MarTech Landscape @EvanLevy
  14. 14. METHOD SAVVY - ALL RIGHTS RESERVED
  15. 15. METHOD SAVVY - ALL RIGHTS RESERVED T H A T ’ S A L O T T O K E E P T R A C K O F ! @EvanLevy
  16. 16. METHOD SAVVY - ALL RIGHTS RESERVED +39% over 2016 32x 2011!
  17. 17. METHOD SAVVY - ALL RIGHTS RESERVED Humans are still the most important part of data and analysis work. @EvanLevy
  18. 18. METHOD SAVVY - ALL RIGHTS RESERVED “We’re not that much smarter than we used to be, even though we have much more information—and that means the real skill now is learning how to pick out the useful information from all this noise.” Nate Silver American statistician and writer Editor in Chief, FiveThirtyEight #High5Co nf @EvanLe vy
  19. 19. METHOD SAVVY - ALL RIGHTS RESERVED What’s the ROI of this expensive new software? What’s the ROI of hiring an analyst? @EvanLevy
  20. 20. METHOD SAVVY - ALL RIGHTS RESERVED Data Strategy @EvanLevy
  21. 21. METHOD SAVVY - ALL RIGHTS RESERVED Start with resources & infrastructure. End with ways to make your organization more money.
  22. 22. METHOD SAVVY - ALL RIGHTS RESERVED Easy right?
  23. 23. METHOD SAVVY - ALL RIGHTS RESERVED G R E A T P L A N T O M A K E M Y C O M P A N Y M O R E $ $ $ $ $ • Phase 1: Amazing new (software/agile method/team structure etc.) • Phase 2: ???? • Phase 3: Profit!!!!!
  24. 24. METHOD SAVVY - ALL RIGHTS RESERVED What practical benefits can I get out of this now?
  25. 25. METHOD SAVVY - ALL RIGHTS RESERVED Analytics helps you understand where your time would be most valuably spent, and where it is most urgently required.
  26. 26. METHOD SAVVY - ALL RIGHTS RESERVED Proper use of analytics empowers you to make more (and better!) decisions in the same amount of time, without feeling exhausted by the end. #High5Co nf @EvanLe vy
  27. 27. METHOD SAVVY - ALL RIGHTS RESERVED The best outcomes require careful planning & strategy before data capture begins.
  28. 28. METHOD SAVVY - ALL RIGHTS RESERVED Pillars Of The Strategy
  29. 29. METHOD SAVVY - ALL RIGHTS RESERVED W H A T T O C O N S I D E R W I T H Y O U R D A T A S T R A T E G Y 1. The Questions 2. Technical Implementation 3. The Users 4. Data Storage & Structure 5. Data Security 6. Personally Identifiable Information (PII) 7. Visualization & Analysis Needs @EvanLevy
  30. 30. METHOD SAVVY - ALL RIGHTS RESERVED T H E Q U E S T I O N S ( A K A P R O B L E M S )1 @EvanLevy • The more valuable your question, the more valuable analytics is to the company • Walk before you run – start with questions that produce focus for decision makers (including yourself!) • Data maturity • What happened? • What’s happening? • What’s going to happen?
  31. 31. METHOD SAVVY - ALL RIGHTS RESERVED A S K S P E C I F I C Q U E S T I O N S O F Y O U R D A T A • Data absent context is rarely helpful. • Push yourself (and your org) to conduct action-oriented analysis that is focused on the business problem. • Will this report help me understand what to do next? • Automate tasks that divert time away from high value analysis as much as possible. @EvanLevy
  32. 32. METHOD SAVVY - ALL RIGHTS RESERVED 2 T E C H N I C A L I M P L E M E N T A T I O N @EvanLevy • The most valuable data sets require high levels of customization to the code sending data to your analytics platform • Understand the technical limitations of your developer resources • You don’t have to know how to code it, but you need to be able to translate the VP’s business goal > marketing KPIs > technical needs to create the data set • HBR has recently dubbed this role the “analytics translator”
  33. 33. METHOD SAVVY - ALL RIGHTS RESERVED 3 @EvanLevy T H E U S E R S • Who needs to access the data for analysis and who should be allowed to make changes to the platform or data source? • Always make sure there is a company-owned admin user profile that is not attached to a specific individual. • Please. Always have a company-owned Admin user that is not attached to a specific individual.
  34. 34. METHOD SAVVY - ALL RIGHTS RESERVED 4 @EvanLevy D A T A S T O R A G E • How much data will you be storing/analyzing? • A few hundred leads? • Millions of site visits? • How long will you need to keep it? • Do you need to combine or clean data before it’s ready for your visualization platform?
  35. 35. METHOD SAVVY - ALL RIGHTS RESERVED D A T A S T O R A G E N E E D S
  36. 36. METHOD SAVVY - ALL RIGHTS RESERVED 5 @EvanLevy D A T A S E C U R I T Y • Are you following appropriate user access controls? • Do your software integrations create other risk points? • Are there government regulations to be aware of (HIPAA, etc)?
  37. 37. METHOD SAVVY - ALL RIGHTS RESERVED 6 @EvanLevy P E R S O N A L L Y I D E N T I F I A B L E I N F O R M A T I O N ( P I I ) • Are you capturing PII as a dimension (email, phone #, etc)? • Hint: PII can slip by in URLs, too • Are you passing that information into an analytics platform like Google Analytics? – that can get your account banned! • Use off-line keys to match user data, or anonymize & aggregate (best customers, new customers, etc).
  38. 38. METHOD SAVVY - ALL RIGHTS RESERVED P I I D A T A P O L I C I E S
  39. 39. METHOD SAVVY - ALL RIGHTS RESERVED 7 @EvanLevy V I S U A L I Z A T I O N & A N A L Y S I S • Evaluate data source flexibility with software • Who is the audience for your analysis and reporting? • What level of context do they have? • What are the top 3 things they’re interested in? • How frequently does the view need to be refreshed?
  40. 40. METHOD SAVVY - ALL RIGHTS RESERVED Other Tips For Better #dataviz
  41. 41. METHOD SAVVY - ALL RIGHTS RESERVED T I P S F O R S U C C E S S F U L D A T A V I S U A L I Z A T I O N S 1. Again, consider the audience 2. Make sure your labels are clear 3. Minimize styling while creating emphasis -- @EvanLevy
  42. 42. METHOD SAVVY - ALL RIGHTS RESERVED M I N I M I Z E S T Y L I N G & C R E A T I N G E M P H A S I S
  43. 43. METHOD SAVVY - ALL RIGHTS RESERVED T I P S F O R S U C C E S S F U L D A T A V I S U A L I Z A T I O N S 1. Again, consider the audience 2. Make sure your labels are clear 3. Minimize styling while creating emphasis - 4. Avoid pie charts if you have more than a handful of segments @EvanLevy
  44. 44. METHOD SAVVY - ALL RIGHTS RESERVED T H I S I S G R O S S
  45. 45. METHOD SAVVY - ALL RIGHTS RESERVED T H I S I S B E T T E R
  46. 46. METHOD SAVVY - ALL RIGHTS RESERVED T I P S F O R S U C C E S S F U L D A T A V I S U A L I Z A T I O N S 1. Again, consider the audience 2. Make sure your labels are clear 3. Minimize styling while creating emphasis - 4. Avoid pie charts if you have more than a handful of segments 5. Make sure your data visualization accurately represents the data - (I’m looking at you truncated Y axis) @EvanLevy
  47. 47. METHOD SAVVY - ALL RIGHTS RESERVED N U M B E R S D O N ’ T L I E , R I G H T ?
  48. 48. METHOD SAVVY - ALL RIGHTS RESERVED T O R E V I E W – D A T A S T R A T E G Y C O N S I D E R A T I O N S 1. The Questions 2. Technical Implementation 3. The Users 4. Data Storage & Structure 5. Data Security 6. Personally Identifiable Information (PII) 7. Visualization & Analysis Needs @EvanLevy
  49. 49. METHOD SAVVY - ALL RIGHTS RESERVED B O N U S ! S O M E O F M Y F A V O R I T E R E S O U R C E S • Analytics Strategy by Avinash Kaushik: https://www.kaushik.net/avinash/ • Advanced Google Tag Manager: https://www.simoahava.com/ • Advanced Google Sheets training: https://codingisforlosers.com/ • Time saving reporting tool: https://supermetrics.com/ • Google Analytics setup: https://www.lunametrics.com/blog/
  50. 50. METHOD SAVVY - ALL RIGHTS RESERVED That’s all folks! @EvanLevy
  51. 51. METHOD SAVVY - ALL RIGHTS RESERVED P A R T I N G T H O U G H T S – G O K I C K S O M E A S S @EvanLevy
  52. 52. T H A N K S www.evan-levy.com Evan@MethodSavvy.com

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