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Transform your Analytics Practice into Insights Practice

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This talk was done at Business Analytics Innovation Summit 2015 @ Vegas on Jan 22nd. In this talk, we show problems with distributed Insight generation and the resultant problems. We recommend an Outcome Focused Framework for enabling Data Instrumentation, Data Management, Insight Generation and Open Analytics Platform.

Video used: https://www.youtube.com/channel/UCODSVC0WQws607clv0k8mQA/videos

Published in: Data & Analytics
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Transform your Analytics Practice into Insights Practice

  1. 1. Intended for Knowledge Sharing only Transform your Analytics Practice into Insights Practice Business Analytics Innovation Summit 2015 Business Analytics Innovation Summit | January 2015
  2. 2. Intended for Knowledge Sharing only INTRO Intended for Knowledge Sharing only Disclaimer: Participation in this summit is purely on personal basis and not representing VISA in any form or matter. The talk is based on learnings from work across industries and firms. Care has been taken to ensure no proprietary or work related info of any firm is used in any material. Director, Insights at Visa, Inc. Help Executives/Product/Marketing with actionable insights RAMKUMAR RAVICHANDRAN
  3. 3. Revamp Your Analytics Practice | Ramkumar Ravichandran Is an Analytics team the only source of insights? CURRENT SCENARIO Revamp Your Analytics Practice | Ramkumar Ravichandran
  4. 4. Intended for Knowledge Sharing only CURRENT SCENARIO Intended for Knowledge Sharing only Did the initiative work? Where will be tomorrow? What if we do this? What can we do? How do Customers feel about us? Where should we invest? Different questions that the leadership has? How are we doing today?
  5. 5. Intended for Knowledge Sharing only CURRENT SCENARIO Intended for Knowledge Sharing only Did the initiative work? Where will be tomorrow? What if we do this? What can we do? How do Customers feel about us? Where should we invest? Who answers them? How are we doing today? BI ANALYTICS A/B TESTING USER RESEARCH STRATEGY
  6. 6. Intended for Knowledge Sharing only CURRENT SCENARIO Intended for Knowledge Sharing only Where do they all sit? Machine Learning Strategy Business Intelligence, Reporting Business/ Advanced Analytics User Research A/B Testing STRATEGY ANALYTICS PM UED IT / TECHNOLOGY MKTG & PR
  7. 7. Intended for Knowledge Sharing only CURRENT SCENARIO Intended for Knowledge Sharing only Is that really a problem? The big boss! “Zuck” era PM “King”y Sales “Underpaid, Overworked, never allowed to speak” Analytics Guy https://www.youtube.com/channel/UCODSVC0WQws607clv0k8mQA/videos
  8. 8. Intended for Knowledge Sharing only CURRENT SCENARIO Intended for Knowledge Sharing only So the problems were, Inconsistent (and/or conflicting) definitions of data and numbers Varying granularities Multiple methodologies Different BU = (different KPIs or same KPIs different priorities) Lack of visibility/understanding outside of the BUs “Slow & inefficient, Non-scalable, Difficulties rolling up, Trust issues, Cascading mistakes”
  9. 9. Intended for Knowledge Sharing onlyIntended for Knowledge Sharing only INSIGHTS 2.0 FRAMEWORK How can we solve this?
  10. 10. Intended for Knowledge Sharing onlyIntended for Knowledge Sharing only - Freeze KPIs at the highest level - Assign ownership of KPIs to BUs - Identify Key Levers, Drivers & Segments e.g., KPI #1: Revenue Levers: UU*(Visits/UU)*(Clicks/Visit)*CPC Drivers: UU= Marketing & PR Visits/UU = Product/UED, etc. Segments: Region, Eng Segments, Product Type OUTCOME FOCUSSED STRATEGY Formulate Outcome Focused Strategy INSIGHTS 2.0 FRAMEWORK
  11. 11. Intended for Knowledge Sharing onlyIntended for Knowledge Sharing only - Prioritization/negotiation of metrics - Incorporate data needs into PRD/BRD - Regular check-ins to ensure progress or suggest workarounds - QA Checklist & success criteria - UAT DATA INSTRUMENTATION Enable data capturing necessary for OF execution INSIGHTS 2.0 FRAMEWORK
  12. 12. Intended for Knowledge Sharing onlyIntended for Knowledge Sharing only - Efficient Data preparations customized for different & evolving needs - Data Quality/Validation & Change Management - Data Governance (Legal/need based) - Master Data Management - Data Lineage, etc. DATA MANAGEMENT Framework & active management of data INSIGHTS 2.0 FRAMEWORK
  13. 13. Intended for Knowledge Sharing onlyIntended for Knowledge Sharing only - BI Reports & Analytics to ensure validity of insights (Single source of Truth) - Connecting the dots across the spectrum - Build->Test->Learn->Improve->Handover FIRST LEVEL INSIGHTS First level insights from the vetted data for Certification INSIGHTS 2.0 FRAMEWORK
  14. 14. Intended for Knowledge Sharing onlyIntended for Knowledge Sharing only OPEN ANALYTICS PLATFORM Open it up to empower end users, but set them up for success with… • Datamarts/Dashboards/Insights • Documentation • Standard logic, definitions, nuances • Legal approvals & Access management • Map & flow of data & insights • Communication • Key milestones achieved • Roadmap – short vs. long term • Guidelines • New BU initiatives • Change Management • Must avoids & best practices • Training materials • Past learning INSIGHTS 2.0 FRAMEWORK
  15. 15. Intended for Knowledge Sharing onlyIntended for Knowledge Sharing only Stakeholders Needs Reports, Insights & OF Drilldowns Datamarts Documentation Communication & Guidelines Executives - Reports - High level drilldown - Unified summary - “On the go*” Marketing - Campaign performance - Infographics - Deep dives - Testing Sales / RM - Sales performance - Prospecting - Competitive - Infographics Product - Product performance - Deep dive - Mining - Testing - Research Technology / AE / Operations - Platform performance - Deep dive - Forecasting - Real time alerting FP & A - Consolidated Initiative readouts (E2E) - Deduping - Drill downs - Forecasting …and “tailoring the delivery” to the specific Stakeholder needs INSIGHTS 2.0 FRAMEWORK*”On the go” delivery channels (Cloud and On-Mobile) are default for everyone
  16. 16. Revamp Your Analytics Practice | Ramkumar Ravichandran Things to keep in mind Revamp Your Analytics Practice | Ramkumar Ravichandran THINGS TO KNOW
  17. 17. Intended for Knowledge Sharing onlyIntended for Knowledge Sharing only STRENGTHS OPPORTUNITIES WEAKNESSES THREATS • Reliable insights • End-to-end visibility • Roll-up to Corporate level • Quicker turnaround • Scalability • Clearly defined roles, responsibilities, success criteria & time lines • Ownership to stakeholders in planning and execution • Value Prop document needed • Train/borrow BU Analysts • “Don’t bite off more than you can chew” • Stakeholders fear of losing control • Too many urgent problems today • Required resourcing • Long term goal that require patience • Constantly evolving landscape provides new challenges THINGS TO KNOW Is it all promises, no fears?
  18. 18. Intended for Knowledge Sharing onlyIntended for Knowledge Sharing only Executive support THINGS TO KNOW Absolute must haves for it to succeed... ...and lots of patience, attention to detail and keep pushing mindset. Business Unit mindset ( implement the relevant best practices from other functions) Stakeholder buy-in, support, strong advocacy & deep involvement Clearly defined and communicated objectives with accepted success criteria
  19. 19. Intended for Knowledge Sharing onlyIntended for Knowledge Sharing only THINGS TO KNOW More on the “Deep” Stakeholder involvement... Objective1 Analyst, Stakeholder Translation to Analytical Framework 2 Analyst, Researcher, Data Instrumentation, & Data Manager, Developer, Data Scientist Data Collection and Preparation 3 Analyst, Data Manager, Data Scientist Analysis, Validation & Verification 4 Analyst, Data Scientist, Stakeholder and SME, Researcher Actionable insights and impact sizing 5 Analyst, Stakeholder, Leader A/B Testing6 Analyst, A/B Testing, Stakeholder, Developer Rollouts7 Stakeholder, Leadership & Executives ResponsibleSteps
  20. 20. Intended for Knowledge Sharing onlyIntended for Knowledge Sharing only Strategic Objectives Success Criteria Action Plan Stakeholder driven insights - Adoption and repeat usage - Reduced adhoc requests - Referrals - Involve early on - Iterative feedback - UAT sign-off Fast, scalable - Reduced turnaround time - Reused by different users - Take PM help in tracking / analyzing insight generation process Trustworthy - Reduced reconciliation time - Strong documentation (mandatory requirement) Easy to understand and use - User Research - Reduced adhoc requests - UED experts Anytime, anywhere, and anyone (if you earned it) - Reduced adhoc requests - User feedback - UED and Technology / Tool experts THINGS TO KNOW More on the Success Criteria for the execution...
  21. 21. Intended for Knowledge Sharing onlyIntended for Knowledge Sharing only THINGS TO KNOW More on the BU Mindset (learn from best practices of others)... Strategy Development UED User Research Project Management Sales CRMs Outcome Focused Prioritization (Big picture), Balance Scorecard monitoring, Future proofing Right selection (Agile vs. CDP), Kanban, MVP, Lean Story telling, customizing insights/delivery by audience Feedback/learning and act on what you learn What worked vs. what did not? Sticking to Roadmap, how to speed up/delegate? Communication/Analysis, PPPs, etc. How to sell/negotiate/close/prospect? Manage difficult Stakeholders Serving Stakeholders the best and “wow”ing them From whom? and learn what?
  22. 22. Intended for Knowledge Sharing onlyIntended for Knowledge Sharing only CONTACT THANK YOU! We’d love to hear from you. Ramkumar Ravichandran

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