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Why Your Product Needs an Analytic Strategy
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Overview of the advantages of embedding analytics to your product roadmap.
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Why Your Product Needs an Analytic Strategy
1.
© 2014, Pentaho.
All Rights Reserved. pentaho.com. Worldwide +1 (866) 660-75551 Michelle Bradbury Director of Product Management, Pentaho April 2014 Why Your Product Needs a Data & Analytics Strategy Ben Hopkins Product Marketing Manager, Pentaho
2.
© 2014, Pentaho.
All Rights Reserved. pentaho.com. Worldwide +1 (866) 660-75552 Pentaho We Enable & Empower Data-Driven Businesses Customer momentum • Over 1,200 commercial customers • Over 10,000 production deployments Innovation through open source • Open, pluggable, purpose-built for the future • Sustained leadership in Big Data ecosystem with technology innovation Modern, cohesive business analytics & data integration platform • Full spectrum of analytics for all key roles • Embeddable, cloud-ready analytics • Broadest and deepest Big Data integration
3.
© 2014, Pentaho.
All Rights Reserved. pentaho.com. Worldwide +1 (866) 660-75553 Thinking about Analytics & Products – 3 Strategic Approaches Near Term Long Term “Time” 2 - Target new opportunities with existing data 3 - Reinvent value propositions with new data technology “Impact&Effort” 1 – Enhance current software products
4.
© 2014, Pentaho.
All Rights Reserved. pentaho.com. Worldwide +1 (866) 660-75554 Enhance current products
5.
© 2014, Pentaho.
All Rights Reserved. pentaho.com. Worldwide +1 (866) 660-75555 Introductory Example
6.
© 2014, Pentaho.
All Rights Reserved. pentaho.com. Worldwide +1 (866) 660-75556 Introductory Example
7.
© 2014, Pentaho.
All Rights Reserved. pentaho.com. Worldwide +1 (866) 660-75557 ① Value of analytics functionality in software applications ② Understanding your analytics audience & personas ③ Implementation considerations Enhance Current Products
8.
© 2014, Pentaho.
All Rights Reserved. pentaho.com. Worldwide +1 (866) 660-75558 • People find pictures intuitive • Lets your product tell a story • Competitive advantage sales can use Value of Analytics – Visual Differentiation
9.
© 2014, Pentaho.
All Rights Reserved. pentaho.com. Worldwide +1 (866) 660-75559 Value of Analytics – Visual Differentiation A table of information…
10.
© 2014, Pentaho.
All Rights Reserved. pentaho.com. Worldwide +1 (866) 660-755510 Value of Analytics – Visual Differentiation Or a visualization to tell a story…
11.
© 2014, Pentaho.
All Rights Reserved. pentaho.com. Worldwide +1 (866) 660-755511 • Creating unique & valuable content • Raises barriers to product abandonment • Depth of usage & loyalty Value of Analytics – Customization Builds Stickiness
12.
© 2014, Pentaho.
All Rights Reserved. pentaho.com. Worldwide +1 (866) 660-755512 • Data & insight drive decisions • Identify opportunities for improvement • Understand value of the software Value of Analytics – Better Decisions
13.
© 2014, Pentaho.
All Rights Reserved. pentaho.com. Worldwide +1 (866) 660-755513 Understanding Your Analytics Audience Director of Sales Supply Chain Manager Vice President of Marketing Financial Advisor Head of IT Educational Instructor Corporate Recruiter Chief Financial Officer Manufacturing Operations Manager Social Media Specialist Hospital Administrator Marketing Operations Analyst Customer Service Representative Project Manager Advertising Executive Network Engineer
14.
© 2014, Pentaho.
All Rights Reserved. pentaho.com. Worldwide +1 (866) 660-755514 Personas & Needs – “The Executive” • Consolidated business information at fingertips • Ability to drill down 1 or 2 levels • Don’t lose the macro vision in details Needs & Requirements • User-specific branded corporate dashboard Recommendation
15.
© 2014, Pentaho.
All Rights Reserved. pentaho.com. Worldwide +1 (866) 660-755515 Highly Tailored Dashboard
16.
© 2014, Pentaho.
All Rights Reserved. pentaho.com. Worldwide +1 (866) 660-755516 Personas & Needs – “Middle Management” • Ability to filter information to their job scope • More intimate knowledge of lower level data • Wants both visualization & detailed reports Needs & Requirements • Dashboards & visualizations with filters • Pre-canned reports for detail Recommendation
17.
© 2014, Pentaho.
All Rights Reserved. pentaho.com. Worldwide +1 (866) 660-755517 Visualizations & Reports
18.
© 2014, Pentaho.
All Rights Reserved. pentaho.com. Worldwide +1 (866) 660-755518 Visualizations & Reports
19.
© 2014, Pentaho.
All Rights Reserved. pentaho.com. Worldwide +1 (866) 660-755519 Personas & Needs – “The Data Analyst” • Leverages detailed data to discover trends • Often presents or provides data to other users • Stronger technical & quantitative skills Needs & Requirements • Custom analysis tools for use on controlled data sources • Ability to easily share analytics content throughout the organization Recommendation
20.
© 2014, Pentaho.
All Rights Reserved. pentaho.com. Worldwide +1 (866) 660-755520 Custom Analysis
21.
© 2014, Pentaho.
All Rights Reserved. pentaho.com. Worldwide +1 (866) 660-755521 Importance of controlling data sources & access Going beyond standard relational application data Seamless analytics experience for the user Implementation Considerations
22.
© 2014, Pentaho.
All Rights Reserved. pentaho.com. Worldwide +1 (866) 660-755522 What Makes a “Normal Deployment”? Business Analytics Server Metadata Analyzer Dashboards Reporting Integration to Multiple Data Sources Data Integration RDBMS Big Data Other sources Transactional data Online Data Multi-tenancy Support Seamless SSO Authentication & Security/Role Integration Embedded Analytics Content in Existing UI Re-skinned interface
23.
© 2014, Pentaho.
All Rights Reserved. pentaho.com. Worldwide +1 (866) 660-755523 Target new opportunities with existing data
24.
© 2014, Pentaho.
All Rights Reserved. pentaho.com. Worldwide +1 (866) 660-755524 • Direct data monetization • New products & services for new markets • Applied business intelligence ‘Out of box’ opportunities to provide value Business Model Innovation with Your Data
25.
© 2014, Pentaho.
All Rights Reserved. pentaho.com. Worldwide +1 (866) 660-755525 Gartner on data monetization:1 • “By 2016, 30% of businesses will have begun directly or indirectly monetizing their information assets via bartering or selling them outright ” • “Start building information product manager skills and analytical competencies in your organization.” • “Large retailers place their point of sales (POS) and other store promotion data online for their business partners to subscribe to.” Direct Data Monetization Opportunities 1. From Gartner research report – “How Organizations Can Monetize Customer Data,” Analysts: Olive Huang, Douglas Laney; Published 6 March 2014
26.
© 2014, Pentaho.
All Rights Reserved. pentaho.com. Worldwide +1 (866) 660-755526 “Monetize” Use Case What is it? • Provide enriched internal data sets as service to external customers & partners • Leverage internal sources like sensor, location, & activity data – and combine with external sources as well Why do it? • Generate new sources of revenue by leveraging diverse data • This can provide intelligence to other industries, delivering better understanding of customers & markets
27.
© 2014, Pentaho.
All Rights Reserved. pentaho.com. Worldwide +1 (866) 660-755527 Example - Telecom Company Challenges • Bring together device usage data from mobile subscribers & networks • Deliver value-added marketing analytics as service to 3rd parties – including location, audience, & social insights Benefits • Generating brand new revenue stream with technology platform for controlling costs & maximizing margins
28.
© 2014, Pentaho.
All Rights Reserved. pentaho.com. Worldwide +1 (866) 660-755528 Example – Telecom Company
29.
© 2014, Pentaho.
All Rights Reserved. pentaho.com. Worldwide +1 (866) 660-755529 New product that helps retailers unlock value of data assets: Another Example The vendor provides an (anonymous) analytics service to retailers on stores traffic – leveraging their existing networks This data is already collected by wireless routers in retail stores Leverage rich data from the pings that smartphones send out as they search for Wi-Fi networks
30.
© 2014, Pentaho.
All Rights Reserved. pentaho.com. Worldwide +1 (866) 660-755530 Reinvent value propositions with new data technology
31.
© 2014, Pentaho.
All Rights Reserved. pentaho.com. Worldwide +1 (866) 660-755531 What is Big Data? Characteristics • Variety • Velocity • Volume Technologies • Hadoop • NoSQL • Analytical Database
32.
© 2014, Pentaho.
All Rights Reserved. pentaho.com. Worldwide +1 (866) 660-755532 Big Data is a Value Proposition Game-Changer: Why does Big Data matter to me as a PM? Leverage Prediction at Scale for Smarter Apps • Example – Run recommendation algorithms across millions of users & pieces of content with near-instant performance Create Products Using Diverse Data Sources • Example: Deliver intelligent products harnessing machine & device data, log file data, social media data, & other unstructured data Future-Proof for Growth & Performance • Example: Solve scalability to tens/hundreds of millions of users – i.e. why Yahoo, Facebook, Google & others created the technology (out of necessity)
33.
© 2014, Pentaho.
All Rights Reserved. pentaho.com. Worldwide +1 (866) 660-755533 Why does Big Data matter to me as a PM? Old Way: Relational Only • Product serves a specific functional purpose • Manage data in one or more relational application database(s) • Application data often isolated from other relevant data New Way: Relational + Big Data • Product is also prescriptive regarding that function • Regularly ingests new data to improve prescriptive models • App data is blended with multiple other data sources, expanding problem-solving potential
34.
© 2014, Pentaho.
All Rights Reserved. pentaho.com. Worldwide +1 (866) 660-755534 Consumer Personalization Optimized Brand Experiences Product Characteristics > Delivers real-time personalized shopping experiences across the web - including recommendations, promotions, & emails > Customers include large brands & retailers Application Intelligence > Rebuilds webpages based on aggregate consumer models & recent individual behavior > Learns adaptively & adjusts product recommendations up to 12x a day Underlying Technology > Hadoop & related technologies, as well as NoSQL for unstructured data > Advanced predictive modeling > Real-time infrastructure returns API calls in milliseconds
35.
© 2014, Pentaho.
All Rights Reserved. pentaho.com. Worldwide +1 (866) 660-755535 GigaOm on Internet of Things:1 • Synapse is creating a cloud platform for data processing & analysis, including real-time events • Their distributed architecture is similar to that of consumer web companies, like Netflix • Sample use case – Sensing whether or not hospital workers wash hands Sensor Analytics & Big Data 1. From GigaOm: “Why the internet of things is big data’s latest killer app — if you do it right”, by Derrick Harris, 3/4/2014
36.
© 2014, Pentaho.
All Rights Reserved. pentaho.com. Worldwide +1 (866) 660-755536 Netflix Architecture (compared to Synapse) From GigaOm: “Why the internet of things is big data’s latest killer app — if you do it right”, by Derrick Harris, 3/4/2014
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© 2014, Pentaho.
All Rights Reserved. pentaho.com. Worldwide +1 (866) 660-755537 ① Check with your counterparts in Operations & Engineering to see if your organization is using or planning to use Big Data technologies ② If you are building a new product or company, evaluate whether a Big Data architecture would be a good fit ③ Monitor how leading consumer & B2B applications are leveraging these technologies on an ongoing basis Big Data: So what can I do today?
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All Rights Reserved. pentaho.com. Worldwide +1 (866) 660-755538 Conclusion
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© 2014, Pentaho.
All Rights Reserved. pentaho.com. Worldwide +1 (866) 660-755539 Wrap-up: The 3 Approaches Reiterated Near Term Long Term “Time” 2 - Target new opportunities with existing data 3 - Reinvent value propositions with new data technology “Impact&Effort” 1 – Enhance current software products
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All Rights Reserved. pentaho.com. Worldwide +1 (866) 660-755540 • How can analytics functionality meet needs for my users? • How can analytics create business & competitive benefits for my organization? • Do I have valuable untapped data resources in my product or organization? • Why might Big Data technologies be relevant to my business? Wrap-up: Things to Think About
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All Rights Reserved. pentaho.com. Worldwide +1 (866) 660-755541 Thank You blog.pentaho.com @Pentaho Facebook.com/Pentaho Pentaho Business Analytics JOIN THE CONVERSATION. YOU CAN FIND US ON:
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