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Strategic thinking for a digital age


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How Digital Technology is changing way people make decisions.

Published in: Data & Analytics
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Strategic thinking for a digital age

  1. 1. STRATEGIC THINKING FOR A DIGITAL AGE Entertainment and media executives say it’s difficult to assess which data is truly useful for big decision making (32%). As a result they’re seeing limits to using data and analytics more often. Yet for all of the challenges, 72-75% have already changed their organizations’ approach to decision making as a result of data and analytics, and another 25% plan to do so. Utilizing the right applications for concise, valuable IT solutions is an incredibly important facet of our business offering here at. From the right data visualization platform, to the right reporting software, IT and business certainly have a wealth of viable tech solutions from which to choose. As trends progress, mobile continues to experience growth in almost all aspects of enterprise. As a result useful corporate mobile apps are experiencing a boom, and many of the tried and true applications of yesteryear are making strong appearances on the various mobile platforms of today. Some of the most popular mobile data apps, Sprout Social and Datazen, are increasing in penetration, with both aggregating data from various social sources, and making it more digestible for users and clients. The only limiting factor for these mobile enterprise solutions is cost, with both requiring expensive licensing for usage.
  2. 2. Recently I came across one of the products I had seen at one of the IT companies have started the development of the Analytics App, an application designed to bring some nuanced campaign data management to the mobile level for clients and business teams alike. Media Mobile Analytics is a mobile application which is sure to be valuable to clients and account teams. Firstly, the App works on any mobile platform. The current version which is attuned to a proof of concept Client campaign works both on Apple’s IOS, Windows Phone and Google’s Android operating systems. Secondly it’s vastly customizable with extensive reusability. . And thirdly, the app is much cheaper than the competing mobile tech solutions, with development cost being very inexpensive. The current state build is very agile and utilizes Microsoft’s Power BI platform in the section demarcated Insight Socialytics. The app uses Microsoft’s data visualization platform to present intuitive dashboards to enterprise users. The dashboards generated utilize sources such as, Brandwatch, Twitter and Facebook and each report generated is very detailed and interactive. The dashboards are also fully customizable and aggregate metrics such as mentions, sentiment, retweet counts, and comments. In typical Power BI fashion, the dashboards are neat, tabulate quickly, and use data from the past 3 weeks. Most importantly, the tabulation will be always on, for when a user needs on-demand analytics. Another great feature that this app brings is the Twitter buzz section. Twitter buzz quickly aggregates all @mentions and hashtags of the specific brand globally. Since this social media platform has become so important for enterprise, this functionality is incredibly valuable for clients and account managers alike. On the user level, the app’s UI also features intuitive tabbed functionality, with tabs that are as follows:  Brand News – Relatively self-explanatory. This tab aggregates all brand financial news in a series of headlines with expandable content related to the particular brand it was deployed for.
  3. 3.  Analytics – This aggregates analytics for the brand. The KPI’s that are available include: Share of audience, sentiment analysis, and the sources the brand’s content are being published on.  Share Price – This analyzes the share price of the brand, which can be useful when calculating ad spend and campaign budget.  Keywords – This checks keyword performance for a given campaign. Top searches in relation to the brand are aggregated here.  Social Analytics – This tracks more focused KPIs from specific platforms like Facebook and Twitter. Mentions, likes, and shares are all tabulated individually under this tab from a variety of sources including: News, Blogs, Forums, Video and Twitter. This mobile app will bring brand management to the tips of our client’s fingers. It’s easy to update, and quick to roll out for any client. With focus falling on mobile, the analytics app will help keep and the other and clients in line and current with brand performance and awareness. Capabilities of Smart, Connected Products The capabilities of smart, connected products can be grouped into four areas: monitoring, control, optimization, and autonomy. Each builds on the preceding one; to have control capability, for example, a product must have monitoring capability.
  4. 4. Both intuition and analytics matter It’s no longer good enough to make decisions based on intuition alone. Skills: Social media means a TV pilot can burn out on opening night or a film’s prospects can change quickly. Data about finicky customers isn’t always available today, but once it is, skills will need to rise quickly.  Senior management lacks the necessary skills or expertise.  There is a limited direct benefit to my kind of role. Data: Data that you want is often in the hands of third parties and still needs to be aggregated and interpreted in elegant ways tobe useful. By anticipating the type of real- time decision support you’ll need in the future, you can better negotiate with third parties to have what you need, when you need it.  It’s difficult to assess which data is truly useful.  The quality, accuracy or completeness of the data isn’t high enough How is this changing : 1. Making greater use of specialized analytical tools. 2. Employing dedicated data insight specialist to formula a strategic decision. 3. Relying on enhance data analytics like optimization and predictive analytics. Some decisions you need to make are big enough to change the course for your business. And decision making ‘as usual’ may not be right for the task. More data are within your reach to understand what was previously unknown. Sophisticated analytical tools are available to you to ‘see’ a wider range of possibilities and evaluate them quickly.