Successfully reported this slideshow.
We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. You can change your ad preferences anytime.

Data driven innovation

44 views

Published on

Presented at the "IT Leadership Summit, Brisbane, QLD Australia" May 2014. This presentation shares the approaches taken by Wotif (leading Australian on-line travel company) to innovate and implement the Lean Start-up approach.

Published in: Technology
  • Be the first to comment

  • Be the first to like this

Data driven innovation

  1. 1. Data Driven Innovation PRESENTED BY: Robin Mack DATE: May 2014
  2. 2. We Want Innovation You’re the IT Expert……. 2
  3. 3. Option 1: Implement Google Flex Time 3
  4. 4. Option 2: Build a creative office space Everyone has Ideas How do I make a viable business opportunity from ideas? 4
  5. 5. Ideas, Ideas, Ideas…….. • Estimated 112 million patents globally • About 40% will never see a customer • If they do go to market, within 4 years a majority will fail 5
  6. 6. Test your ideas 6 Option 3: Do what entrepreneurs do
  7. 7. What is Lean Startup? “Lean Startup is a term trademarked by Eric Ries and represents a synthesis of Customer Development, Agile Software Development methodologies, and Lean (as in the Toyota Production System) practices.” Ash Maurya Running Lean 7
  8. 8. 8
  9. 9. Startups are different to my business I already have customers 9
  10. 10. Existing companies face different problems 10
  11. 11. What’s different about a start-up? “A company is a permanent organization designed to execute a repeatable and scalable business model.” Opposed to “a startup is a temporary organization designed to search for a repeatable and scalable business model” Steve Blank, Why Companies are Not Startups, 4 March 2014 11
  12. 12. Business model canvas 12
  13. 13. 13
  14. 14. How I interpret Lean Startup 14 ReleaseRelease ReleaseRelease EvaluateEvaluateProblem/Idea Identification Problem/Idea Identification Measure User Testing Iterations
  15. 15. Sounds easy, right? 15
  16. 16. Here is what we learned • Know your customers • Be careful of what the data tells you (be careful what you ask) • Use a scientific approach • Fight the urge for short-term uplift 16
  17. 17. Know your customers 17
  18. 18. Be careful of what the data tells you • Huge user testing with over 200,000 tests • Overwhelming results favored the a specific outcome Resulted in……. 18 One of the largest marketing blunders in history
  19. 19. Use a scientific approach • Do not look to the data to tell you something • Use the data to confirm or reject what you are testing for 19
  20. 20. 20
  21. 21. Fight the urge for short-term uplift Your cash cow is great at providing incremental revenue, But your financial management will never let you invest in new directions 21
  22. 22. Like all great inventors Expect to fail Learn from it . . . Be successful 22
  23. 23. Questions 23

×