Leveraging Data and Analytics for Your Marketing Strategy

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Agenda • Importance of Analytics

• Challenge From Within

• Stages of Analytical Companies • Analytics Success Pillars

• Who Cares About Data?

Source: 2013 SMB Insights Brand Study published by The Business Journals

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A Short Story of Analytics…

Importance of

• “It’s the economy, stupid”

• Intense competition

• People becoming more fickle, loyalty elusive

• Volume of advertising messages increasing

Challenge from Within

• Weak Executive Sponsorship

• Failure to Align Analytics Priorities with Corporate Priorities

• Weak alignment from Technology Support Function

• Lack of Formal Data Governance

• Weak Alignment of Existing Analytical Resources

Five Stages of Analytical Companies9Source: Davenport and Harris, Competing on Analytics, 2007

Stage 1Analytically Impaired

Stage 3Analytical Aspirations

Stage 2Localized Analytics

Stage 4Analytical

Companies

Stage 5Analytical

Competitors

Analytics Success Pillars

Key Ingredients for Effective Analytics

– Meaning

– Context

– Predictive

– Bias towards action(generate revenue, save costs)

– Communication

Who Cares About Data?

Thank You!

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Backup

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Big (and little) Data

• Variety, Volume and Velocity

• Let’s not forget about the little data

• Data analysis is the biggest hurdle to action

• Customer Knowledge Framework

Future of Analytics• Data become less valuable

• Predictive becomes the new standard

• Social computing becomes essential

• Advances in machine learning are made

• Traditional data models evolve

• Analytics becomes more accessible to the non-analyst

• Data science becomes a specialized department

• Human-centered computing becomes part of everyday life

• Analytics helps solve social problems

• There is a location-based data explosion

• A data privacy backlash occurs