The Quest for the Best: Not All Data is Created Equal

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Paul Kongshaug, founder and CEO of BlendCard, presented The Quest for the Best: Not All Data is Created Equal during the breakout sessions of the Loras College Business Analytics Symposium. There is little doubt that data has changed everything. But not all data is created equal. This is the story of one startup’s journey to innovate by collecting and connecting the best possible data available in the local marketplace. Through this session, entrepreneurs or anyone considering a career in data analytics gained perspective about the importance and challenges of collecting the right data.

The quest for the best:
One entrepreneur’s journey to
collect the best local data.

The beginning:
Luck. Inspiration. Fail... Learn. Repeat.

Lessons:
- You must be solving a problem.
- Being “right” is less than half the battle.
- There has to be a market for your data.
- It’s insanely hard / costly to get users.
- The most important work occurs before you begin.

“We are working to avoid
trading analog dollars for
digital pennies.”
- Jeff Zucker NBC

Lessons:
- Being “right” is less than one third of the battle.
- Disrupting huge markets with powerful gate-
keepers who fundamentally resist change, is hard.

“I know half the money I
spend on advertising is
wasted, the trouble is I
don’t know which half.”
- John Wanamaker

Identify Attract Buy
Online marketing
Visit / Retarget

Identify Attract Visit Return Promote
Offline marketing
?

So what do you do next?
Launch OfferDogg!

Iteration:
- App! Yes! Yes! Yes! Yes? No…. Not yet.
- Deals. Check in. Loyalty. Gift Cards.
- Validation behind the counter is a requirement.

Iteration:
- App! Yes! Yes! Yes! Yes? No…. Not yet.
- Deals. Check in. Loyalty. Gift Cards.
- Validation behind the counter is a requirement.
- I had to integrate with existing systems.

Identify Attract Visit Return Promote
Building a marketing platform

193,640 swipes earned
34,680 deals redeemed
20k cardholders
180 businesses
$2.5M in transactions
$250k gift card sales

What’s Next:
Mobile App
Fundraising / HR program
Integration with POS
Tracking all ad-units

The best data:
Deterministic. Voluntary. Actionable.

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