Beyond Analysis - Breakfast Seminar Will Beresford
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Data changing the world
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Beyond Analysis - Breakfast Seminar Will Beresford
- 3. ©CopyrightBeyondAnalysis2013 3 We believe the abundance of data now available will change the world.
- 4. ©CopyrightBeyondAnalysis2013 4 Data abundance can and should enable everyone to take greater control over their own lives
- 5. ©CopyrightBeyondAnalysis2013 5 Lead Better and Happier Lives Enhancing Sustainability and the Greater Good Greater Prosperity
- 6. ©CopyrightBeyondAnalysis2013 6 Everything we do is designed to bring this better new world about
- 7. ©CopyrightBeyondAnalysis2013 7 How Do We Do It?
- 8. ©CopyrightBeyondAnalysis2013 8 By Reducing Complexity So data is clear, simple, and easy to understand and to act upon
- 9. ©CopyrightBeyondAnalysis2013 9 By Separating the Signal from the Background Noise So time, attention and expertise aren’t wasted on the irrelevant & unimportant By Reducing Uncertainty
- 10. ©CopyrightBeyondAnalysis2013 10 By Understanding How Data Can Change Behaviour By applying learnings from behavioural sciences So positive outcomes occur easily and naturally
- 12. ©CopyrightBeyondAnalysis2013 12 One of our inspirations…
- 15. ©CopyrightBeyondAnalysis2013 15 Computing went…. And now… …from this… …to this.
- 16. ©CopyrightBeyondAnalysis2013 16 That’s what we’re doing for Big Data Giving you the right information at your fingertips Replacing guesswork with rigour Making true insight available to all
- 17. ©CopyrightBeyondAnalysis2013 17 Does this look like insight to you?
- 18. ©CopyrightBeyondAnalysis2013 18 18 Big Data Great Results Big Data Simple Steps Great ResultsSmall Bites In Control Chain Reaction
- 19. ©CopyrightBeyondAnalysis2013 19 Imagine: key customer performance information at your fingertips
- 20. ©CopyrightBeyondAnalysis2013 20 Plus the ability to quickly diagnose and drill down into the real drivers behind a change in performance
- 21. ©CopyrightBeyondAnalysis2013 21 Everything a business needs … on all devices
- 22. ©CopyrightBeyondAnalysis2013 22 … through every channel
- 23. ©CopyrightBeyondAnalysis2013 23 The Beyond Analysis answer to Big Data Giving you the right information at your fingertips Replacing guesswork with rigour Making true insight available to all
- 24. ©CopyrightBeyondAnalysis2013 24 Beyond Analysis A Human Approach to Data Abundance Better for Businesses Better for People Better for the World
Editor's Notes
- Just when it seemed computers would always be that way: machines with great potential but whose potential was going unrealised because they were so alien to humans… Just then something changed… Here’s the video of the day….
- The answer to the Big Data challenge is not to have lots of data & stats – but to ensure that the right people have the right insights at the right time. Sounds simple? But it’s amazing how often this is not the case. CEOs do not need chapter and verse on the latest marketing campaign; they need to know which core business metrics they should be tracking, week-in, week-out, and which variances need attention, versus those which are being by external market forces, or are not statistically relevant, or are purely seasonal. Likewise, a store manager needs to know what’s happening at store, product and stock level … as well as seeing performance of other stores to be able to benchmark, learn & implement to get results How often, when you’re asked for insight into the performance of your business, are you handed reams of numbers and charts that give you no idea as to their meaning? When faced with such nonsensical, uninsightful metrics, it’s easy for a business to be turned off by the deluge of information and stick to what it knows best: re-run the same campaigns; stick to the same data strategy; we’re not sure what went wrong so let’s keep chipping away ….. What if, at your fingertips, you had not only insightful internal data-led learnings, but an overlay of how your sector is performing, key external market influences that are impacting your business, how your market share is shaping up – enabling you to replace guesswork with rigour and understanding to drive better decision-making? Imagine! Traditionally, data-driven insight is the property of a particular team or department: marketing, analysts, finance ….. Which can mean that it’s either jealously guarded or used as a stick with which to beat others. Sound familiar? How about data for all: making sure that all employees across the width and breadth or your organisation get access to the specific pieces of information they need to know in order to do a better job, make a difference and deliver results – a win/win situation as regards productivity, staff retention and ROI. Later I’ll tell you how this approach was put into action just last week.
- Current state of play: The data industry has created insight products that aren’t actually very insightful Who’s going to spend time delving into reports like these to try and Understand what they’re all about Sort the wheat from the chaff in terms of identifying the really important things that require further attention A ‘one size fits all’ approach It’s almost impossible to tell from current offerings what the BIG issues are, i.e. what’s ‘normal’ fluctuation, or not statistically relevant, versus those things that should be flagged as issues for further investigation/attention Such insights are also generally ‘owned’ by specific areas of the business, for example marketing, analytics etc. and rarely leaves this little enclave. And insights are not tailored for, or shared across, every area of a business What we want to see is insight for all – so that everyone can access the info that’s important for them and actually put it to use in their normal day-to-day life - and focusing on the statistically/business significant things that are potentially the game changers, and which require immediate focus And those who have access take one look & switch off … and wonder why the hell they spent all that money on data-driven ‘insight’ when they’re even more confused than ever
- The foundations The right data is captured The data is stored in the right format, in the right place The data is housed securely, meeting appropriate privacy and security requirements The required skillset and tools are in place The insights Single version of the truth Key customer reports for the business, tailored to the audience’ requirements Basis for fact-based business decision making, easily accessible Common customer language across functions SUPPORTS COMMON GOALS The actions Data-driven actions and evidence for negotiations Enhanced personalisation of campaigns, services and overall experience Encouraged data and information sharing across the business to drive cultural change The outcomes Acquisition Seamless customer experience Retention & repurchase Extended revenue streams from additional services Data commercialisation through strategic partnerships
- So talk about CEOs being able to look at the top 5 metrics they need to know, via their phone, whilst in their car on their way into the office – and how they can drill down on these metrics to understand what the results are showing (i.e. Is it statistically relevant? How does it compare with what’s happening in the market? Where are we YoY? Who do I need to contact to look into it further, if it looks like it is significant and something that may require action to put right)
- It’s all too easy to produce mountains of data that doesn’t mean much to many people, that gives the whole analytics industry a bad name, and results in the findings collecting dust on the shelf We don’t simply ‘do analytics’ – we present them in a clear, simple and striking fashion that makes what the analytics reveal meaningful to people right across the organisation. So they get acted upon, So things get done. So change happens. We ensure that analytics become part of the life blood of an organisation, so that the organisation learns better, acts more effectively, and grows more strongly and more sustainably