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Analytical Revolution


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Analytical Revolution

  1. 1. The Analytical Revolution: Are You Ready? Heena Jethwa Sr. Product Marketing Manager Business Analytics © 2010 IBM Corporation
  2. 2. Reap the Rewards: Create a Positive Customer Business Analytics Experience Commonly Asked Questions Can I get copies of these slides after the event? Is this event being recorded for later viewing? © 2010 IBM Corporation © 2009 SPSS Inc. 2
  3. 3. Business Analytics Key Trends • Clients are demanding shorter timelines for projects and faster delivery of findings • Research is becoming commoditized with clients less willing to pay for quality • Non-researcher management are conducting their own surveys on the internet • Businesses are seeking added value from research – more strategic thinking and high-end analysis • Fresh information, accurate measurement and true insight © 2010 IBM Corporation
  4. 4. Business Analytics A time for change: Research Press “What’s driving consumers and markets will breathe life into a new-look research business one that’s more tightly focused on delivering clear returns, actionable information, fresh ideas and a higher level of service” than before the crisis struck” ESOMAR Research 2009 “Painting the bigger picture and answering strategic questions is precisely what market researchers ought to be doing” Norio Taori, president of Japanese research firm INTA GE © 2010 IBM Corporation
  5. 5. Business Analytics A Time for Change: Customer View “Today, more than ever, insight as well as foresight are essential to the success of our business.” Joan Lewis, SVP and head of consumer knowledge P&G “Customers are evolving – and so should marketing and research techniques.” Elisabetta Osta (CMO) Barclaycard © 2010 IBM Corporation
  6. 6. Business Analytics The opportunity “I hope we’ll see collaboration efforts between various sectors to tackle the tough work required to build an infrastructure that enables integration of data from all sources … that’s a huge opportunity” © 2010 IBM Corporation
  7. 7. Business Analytics The Challenge Harnessing the wealth of data Tuning out noise from valuable insight Competition for insight Data access/silos Changing relationships and expectations Decisions and data at the right time Ensuring ROI and profitability 7 © 2010 IBM Corporation
  8. 8. Business Analytics Role of the MRI : Data Provider or Insight Partner? © 2010 IBM Corporation
  9. 9. Business Analytics Traits of an Insight Partner Understand and report on what people, think and do Data and insight expertise Objectivity Methodology Strong client relationship Deliver Insight and Foresight Aid strategic and holistic actions © 2010 IBM Corporation
  10. 10. Business Analytics More data than we can imagine… 1 billion transistors for every human 10 billion devices connected to the internet 100 Billion smart devices 15 petabytes of new information everyday © 2010 IBM Corporation
  11. 11. Business Analytics What is a Petabyte ? 20 Million 4 drawer filling cabinets filled with text 13.3 years of HDTV video 10 billion photos on facebook © 2010 IBM Corporation
  12. 12. Business Analytics Leveraging all data Interaction data Attitudinal data - E-Mail - Opinions - Call center notes - Preferences - Web Click-streams - Needs & Desires - Blogs/ social networks Descriptive data Behavioral data - Attributes - Orders - Characteristics - Transactions - Self-declared info - Payment history - (Geo)demographics - Usage history © 2010 IBM Corporation
  13. 13. How can you harness ALL this data and delivering Insight and Foresight Predictive Analytics .. For data (structured and unstructured) Business Analytics © 2010 IBM Corporation
  14. 14. Business Analytics The Power of Predictive Analytics- Data Mining There’s analytics…and analytics Typical analysis (reporting) –Measure. Compare. Report. Study. –“Rear-view mirror” –Data cuts and crosstabs Predictive analytics –Algorithms automatically “learn” significant patterns –Include all data types attitudinal, transactional, demographic and Interactive –Models make predictions for current/new cases –Insight delivered to drive better business decisions © 2010 IBM Corporation
  15. 15. Business Analytics Data Mining – Fact or Fiction? “Predictive Analytics doesn’t have a whole lot to do with Market Research” “Predictive Analytics is really no different than BI… they’re both based on a look in the rear view mirror” “Data mining would add little perceived value to MR customers… so why add another tool to the toolbox” © 2010 IBM Corporation
  16. 16. Business Analytics Data Mining –Dispelling Myths Predictive Analytics and Market Research – Add value at multiple stages of research – from respondent management, through data processing, to innovative reporting that delivers deeper, more actionable insight – Deliver Foresight and insight Predictive Analytics vs. Typical Reporting – Report on data up to the time it’s pulled – Predictive Analytics uses an extensive pool of algorithms to predict what will happen next – Let´s the data do the talking and exploring Creating Value & Differentiating with Predictive analytics – Customers increasingly want innovative approaches that help them understand their business better and make more informed decisions – Meeting this customer need makes the Market Researcher a more strategic business partner © 2010 IBM Corporation
  17. 17. Business Analytics The Predictive Analytics Process Predict Analyze data to THIS IS provide insight and WHERE THE predict the future INSIGHT PARTNER REALLY IS NEEDED Predictive Analytics Capture Act Improve customer retention Customers Constituents Grow share of wallet Prospects Employees Store new data Minimize risk on customers, Students Patients events, etc. for Increase customer satisfaction continuous Enhance market share improvement People Data Decision & Enterprise Data Sources Optimization © 2010 IBM Corporation
  18. 18. Business Analytics Text Mining in Market Research? “More and more people are living part of their lives online and sites like Facebook provide a way for brands and researchers to move beyond traditional oneway observation and dialogs.” Meg Sloan, market research Lead Facebook “The combination of social computing tools and an understanding of social networks is allowing us to build new types of research communities as well as observe organically created ones, in which respondents can interact not only with the researchers but with our clients and, most fertilely, with each other Mike Cooke GFK NOP © 2010 IBM Corporation
  19. 19. Business Analytics Time is of the essence The standard coding process... Time-Consuming Restrictive Complex Pre-determined coding Responses need & Costly scheme for consistency. interpretation. With IBM SPSS Text Analytics... Scalable.Projects Text is read quickly A robust coding Response coding is are and intelligently. scheme is derived. fast, accurate, easily re-usable with (Natural Language Processing) (Manual/Automatic) and consistent. new data-sets. © 2010 IBM Corporation
  20. 20. Business Analytics Including Social media channels Comments regarding customer experience: Sentiment Analysis enables organizations to categorize a person’s own words based on both business issues and customer opinions © 2010 IBM Corporation
  21. 21. Business Analytics From Unstructured to insight to foresight From analyst workbenches… …to executive reports © 2010 IBM Corporation
  22. 22. Business Analytics Text mining in Market Research: Extracting the Value Speed – The power to run text automatically Focus – To find the key concepts and phrases Integration – Look across many different sources Value – Deliver insight that is critical and impactful “Text Mining can be one of the most powerful tools to discover new insights and hypotheses from existing data” Dr. Markus Eberl TNS Infratest Forschung GmbH 22 © 2010 IBM Corporation
  23. 23. I2 Business Analytics Complete Workbench © 2010 IBM Corporation
  24. 24. Slide 23 I2 New image with some blurbs...take it apart a bit and show value that may be easier to lead into the other stuff??? IBM_USER, 4/26/2010
  25. 25. I1 Business Analytics Complete Workbench Access both structured and unstructured data from virtually anywhere Powerful data aggregation, transformation, cleansing and manipulation Full range of modeling algorithms Apply multiple techniques and create ensemble models easily Leverage intuitive visualizations to evaluate models Deploy predictive intelligence in multiple ways © 2010 IBM Corporation
  26. 26. Slide 24 I1 New image with some blurbs...take it apart a bit and show value that may be easier to lead into the other stuff??? IBM_USER, 4/26/2010
  27. 27. Business Analytics Predicting Outcomes and Measuring Effects Let the data show you the path to an outcome Where are the links between events? What is important to the outcome? How does this factor contribute to the outcome? Is this factor consistently important? © 2010 IBM Corporation
  28. 28. Business Analytics Finding Commonalities and Differences Find clusters and interact with results visually Find anomalies and identify their root cause © 2010 IBM Corporation
  29. 29. Not forgetting Data management and quality Business Analytics © 2010 IBM Corporation
  30. 30. Business Analytics Data Sources & Preview © 2010 IBM Corporation
  31. 31. Data Merge & Preview Business Analytics © 2010 IBM Corporation
  32. 32. Business Analytics Data Visualization and Preparation Visualization Use tables and reports Use interactive graphs Transformation Summarize and Manipulate Records and Preparation Clean, Transform and Validate Fields © 2010 IBM Corporation
  33. 33. Business Analytics Automatic Data Preparation © 2010 IBM Corporation
  34. 34. Business Analytics Data Analysis & Modeling © 2010 IBM Corporation
  35. 35. Business Analytics DataFusion enriches internal data with attitudes Internal Data External Data Transactions, Needs, Motivations, Utilisation, ... Satisfaction Hard Facts Soft Facts Where, what, when, Why, how, what for? how much? Behaviour Attitudes Attitude-based Database Enrichment © 2010 IBM Corporation
  36. 36. Business Analytics DataFusion - Methodological Approach Internal Data: customer database Data Fusion Contact Master Transaction data: data: data name, age, (behaviour): Projecting the market research address, gender, product findings back into the customer phone, ... usage, database ... ... Sampling Model estimation Anonymous, representative sample customer Market research: -ID Master typology of consumers, Transaction <=> data target segments, affinities, scores, … interview- data ID © 2010 IBM Corporation
  37. 37. Business Analytics IBM SPSS Technology Created to be: – Innovative – Powerful – Flexible – Integrated – Scalable – Easy to use © 2010 IBM Corporation
  38. 38. Business Analytics The Future ‘The future is already here – it’s just unevenly distributed.’ William Gibson (1999) © 2010 IBM Corporation
  39. 39. Business Analytics Summary Changing dynamics of the MRI Leverage comprehensive workbench for data and text Maximize efficiencies throughout the research process Capitalize on new market trends Deliver insight and foresight Become the Insight Partner © 2010 IBM Corporation
  40. 40. Questions? Business Analytics © 2010 IBM Corporation 38