Getting Value out of your Data - Kevin Pak @ NEWPEOPLE VIP Connect 17/4/14

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This document discusses how data scientists can help companies get value from their data. It provides examples of how dynamic pricing, Google Adwords bid optimization, statistical conversion attribution, and media mix optimization can help increase profits. The document emphasizes that data integration across different areas like price, advertising, sales is an important trend. It recommends companies take steps like data collection, analysis, prototyping and proofs of concept to implement these strategies effectively. Cross-functional teams with skills in statistics, IT and business are needed, and companies should assess what data they currently have available.

Data & Analytics Technology

Getting value out of your data
Kevin Pak

What does a data scientist do?
Get value out of your data

Dynamic Pricing Process
Price
Optimization
Observe
Sales
Demand
Forecast

Google Adwords Bid Optimization
0
0,5
1
1,5
2
2,5
0 0,2 0,4 0,6 0,8 1 1,2
0,15
0,2
0,25
0,3
0,35
1 1,2 1,4 1,6 1,8 2
0
20
40
60
80
100
120
140
0 100 200 300 400
€ 1.000-
€ -
€ 1.000
€ 2.000
€ 3.000
€ 4.000
€ 5.000
€ 6.000
€0,10
€0,20
€0,30
€0,40
€0,50
€0,60
€0,70
€0,80
€0,90
€1,00
Costs
Revenue
Profit

Statistical Conversion Attribution
Tools in
the market
Statistical
approach
You provide the weight for frequency, time on site,
recency, page views, etc.
The tool attributes the conversions to the channels
according to the weights you provided
self fulfilling prophecy, no real insights
Statistically determine each channel’s true
contribution based on all observed visitors paths.
data driven insights

0%
10%
20%
30%
40%
50%
60%
70%
Actual 2011
Model 2011
Media Mix Optimization
effectiveness
0
€ -
€ 2.000.000
€ 4.000.000
€ 6.000.000
€ 8.000.000
€ 10.000.000
€ 12.000.000
€ 14.000.000
€ 16.000.000
€ 18.000.000
€ 20.000.000
€100.000
€250.000
€400.000
€550.000
€700.000
€850.000
€1.000.000
€1.150.000
€1.300.000
€1.450.000
€1.600.000
€1.750.000
€1.900.000
€2.050.000
€2.200.000
€2.350.000
€2.500.000
€2.650.000
€2.800.000
€2.950.000
€3.100.000
€3.250.000
€3.400.000
€3.550.000
€3.700.000
€3.850.000
€4.000.000
€4.150.000
€4.300.000
€4.450.000
Mediaspend
Visits
Margin
Profit

Integration is the trend
Price
Google
Adwords
Conversion
Attribution
Profit
Media
Capacity
Price

One step at a time
Workshop
Data
collection
Data
analysis
Proto-
typing
Proof Of
Concept

With the right people
Statistics & Math
ITBusiness

Where are you?
Source: Competing on Analytics, Davenport

Kevin Pak +31 654936223 kevin.pak@ortec.com
Contact details

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Getting Value out of your Data - Kevin Pak @ NEWPEOPLE VIP Connect 17/4/14

1. Getting value out of your data Kevin Pak

3. What does a data scientist do? Get value out of your data

4. Where do we stand?

5. Example Cases

6. Dynamic Pricing

7. Dynamic Pricing Process Price Optimization Observe Sales Demand Forecast

8. Google Adwords

9. Google Adwords Bid Optimization 0 0,5 1 1,5 2 2,5 0 0,2 0,4 0,6 0,8 1 1,2 0,15 0,2 0,25 0,3 0,35 1 1,2 1,4 1,6 1,8 2 0 20 40 60 80 100 120 140 0 100 200 300 400 € 1.000- € - € 1.000 € 2.000 € 3.000 € 4.000 € 5.000 € 6.000 €0,10 €0,20 €0,30 €0,40 €0,50 €0,60 €0,70 €0,80 €0,90 €1,00 Costs Revenue Profit

10. Conversion Attribution

11. Statistical Conversion Attribution Tools in the market Statistical approach You provide the weight for frequency, time on site, recency, page views, etc. The tool attributes the conversions to the channels according to the weights you provided self fulfilling prophecy, no real insights Statistically determine each channel’s true contribution based on all observed visitors paths. data driven insights

12. Media Mix

13. 0% 10% 20% 30% 40% 50% 60% 70% Actual 2011 Model 2011 Media Mix Optimization effectiveness 0 € - € 2.000.000 € 4.000.000 € 6.000.000 € 8.000.000 € 10.000.000 € 12.000.000 € 14.000.000 € 16.000.000 € 18.000.000 € 20.000.000 €100.000 €250.000 €400.000 €550.000 €700.000 €850.000 €1.000.000 €1.150.000 €1.300.000 €1.450.000 €1.600.000 €1.750.000 €1.900.000 €2.050.000 €2.200.000 €2.350.000 €2.500.000 €2.650.000 €2.800.000 €2.950.000 €3.100.000 €3.250.000 €3.400.000 €3.550.000 €3.700.000 €3.850.000 €4.000.000 €4.150.000 €4.300.000 €4.450.000 Mediaspend Visits Margin Profit

14. Integration is the trend Price Google Adwords Conversion Attribution Profit Media Capacity Price

15. How do you get there?

16. One step at a time Workshop Data collection Data analysis Proto- typing Proof Of Concept

17. With the right people Statistics & Math ITBusiness

18. With the right data

19. Where are you? Source: Competing on Analytics, Davenport

20. Kevin Pak +31 654936223 kevin.pak@ortec.com Contact details

Getting Value out of your Data - Kevin Pak @ NEWPEOPLE VIP Connect 17/4/14

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