garbage to gold: how improving your data boosts your business

Garbage to Gold How improving your data boosts your business

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Webinar Host

Fred Shilmover CEO & CoFounder InsightSquared

What we do •  Business Intelligence software for SMBs •  Leading BI for Staffing and Recruiting firms •  Pioneer in connecting multi-data sources

Who we are •  Based in Cambridge, MA •  Founded 1.5 years ago •  40+ person team (and growing) •  Raised $5.5 million in VC funding

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Our customers •  150+ customers •  Range from 1 – 300 salespeople / recruiters •  Located in 7 countries •  Contract and perm; multiple industries

About InsightSquared

Value prop •  Drive revenue •  Reduce costs •  Get more from your data

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Stat: Business analytics applications return $10.66 for every $1 spent.

Analytics pays off. BusinessWire via MarketWatch, 12/6/11. From a Nucleus Research analytics study.

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Stat: Only 21% of small & midsized businesses have deployed BI technology.

Analytics is an edge. ComputerWorld, 7/6/11. From March 2010 Forrester report. 921 North American & European IT software decision-makers surveyed. Organizations with up to 999 employees.

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“We live in a data-driven world…. Making sense of big data is a combination of organizations having the tools, skills and…the mindset to see data as the new ‘oil’ fueling a company.”

-Andreas Weigend, Ph.D Stanford, Head of the Social Data Lab at

Stanford, former Chief Scientist Amazon.com

Analytics is vital.

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Garbage in, Garbage out

Garbage in, Garbage out

Stat: The cost of bad data exceeds $600 billion annually.

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Fun Fact: This is roughly the total spending on primary and

secondary education in the US each year.

InsideARM.com, 10/30/2008. From a Data Warehousing Institute estimate.

Garbage in, Garbage out

50% of a recent Forrester survey of customer analytics executives stated that ensuring data quality was an issue, inhibiting their ability to develop better customer analytics.

9 Forrester.com, “The State of Customer Analytics 2012” August 8, 2012

Garbage in, Garbage out

Stat: Our new clients start at 40% clean data quality, on average.

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InsightSquared screenshot

Garbage in, Garbage out

Data Quality Score tell you: Is my Job Order & Placements data in line with our history for trailing 90 days?

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Garbage in, Garbage out

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Human Error

0

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40

60

80

100

1 2 3 4 5 6

Data Quality

Data Quality

Declining Data Quality

Inaccurate Analytics/Decisions

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Garbage to Gold

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Data Quality as KPI

DQ is not an insurmountable problem.

DQ is as important as interview or send outs.

Case Study: Wavelength

•  60+ recruiting & staffing firm in Sydney, Australia. •  Multiple Recruitment Excellence Awards winner. •  2011 winner of the Recommended Employer,

Australian Business Awards. •  Two-time Top 50 best places to work in Australia,

Business Review Weekly.

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“It’s like suddenly the lights come on and you see you’re flying 50ft off

the water. You take evasive action! It galvanized us into fixing the

problems.” -Dr. John Bethell, Director & Co-Founder

Case Study: Wavelength

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start date

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Pick your battles

Tackle the high priority errors.

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Pick your battles

Tackle the errors that drive your analysis

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From the Ground Up

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1. Get data ready for analysis

Immediate Value Propositions

2. Perform robust, difficult analysis

Case Study: Bayside Solutions

•  Staffing firm based in California •  Founded in 2001 •  Perm recruiting and contract staffing for the technical,

constructing, and scientific industries

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Case Study: Bayside Solutions

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“We had no data to identify performance metrics for

employees. We needed to see our business for what it was and

assess where we're at.” -Ed Williams, President, Industrial Staffing Division

Case Study: Bayside Solutions

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Data management problems: •  Zero visibility into activities. •  Zero knowledge of data errors. •  Zero forecasting ability.

Case Study: Bayside Solutions

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Dashboards provided aspiration for visibility into

data.

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Drive Compliance

Employee Scorecards

Nightly Activity Emails

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Drive Compliance Create a culture of transparency.

Employee Dashboards

Case Study: Bayside Solutions

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Results: •  # of calls doubled over 6 months • Connects up 29% •  Interviews up 4x • Submissions up 100% • Data errors down 68%

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What can data do?

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Visibility Answers: What are my employees focused on?

Which clients are most profitable? Where are the holes in my data?

Case Study: HireMinds

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•  Recruiting firm in Cambridge, MA & San Francisco, CA

•  Founded 1998 •  Serves Marketing, Technology, & Scientific industries

Case Study: HireMinds

“It was impossible to predict the productivity of employees…

Even when I could get data, it wasn't reliable and I had to have

it reorganized and fact checked.” -David Hayes, CEO

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Case Study: HireMinds

Ratios provide actionable information

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Types of Analytics

Historic Analysis

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Real-Time Analysis

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Predictive Analysis

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Case Study: HireMinds

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• Presentations up 90% • Sendouts up 79% • Invites (Interviews) up 139% • Revenue up 45%

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Summary: •  Get and give visibility to get everyone marching to the

beat of the same drum •  Focus on only what drives the business (Data Errors,

KPIs you measure) •  Use the data you have. Get it in the system to drive

analysis.

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Love your data, it will love

you back.

Q&A www.insightsquared.com/blog/ support.insightsquared.com support@insightsquared.com twitter: @insightsquared

Thank you! www.insightsquared.com/blog/ support.insightsquared.com support@insightsquared.com twitter: @insightsquared

References

•  http://www.marketwatch.com/story/business-analytics-applications-return-1066-for-every-dollar-invested-nucleus-research-analysis-finds-2011-12-06

•  http://www.computerworld.com/s/article/9217996/Business_intelligence_goes_small_It_s_not_just_for_the_biggest_shops_anymore

•  http://www.marketwatch.com/story/new-global-study-only-one-third-of-companies-making-effective-use-of-data-2011-12-05

•  http://www.forrester.com/search?N=10001+52679&range=504001&tmtxt=+best+practice#/The+State+Of+Customer+Analytics+2012/quickscan/-/E-RES61433http://www.insidearm.com/daily/collection-technologies/collection-technology/the-cost-of-dirty-data-to-accounts-receivable-managers/

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