Revolutionizing Decision Making: How the Analyst will take over Business Decisions

Natalie Kortum Marketing Land Summit March 2014

Big Data will change analytics forever.

@NatalieKortum

Big Data started with…

@NatalieKortum

Web Analytics

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5 Confidential 3/10/2014

Politics of Big Data

What good is the perfect analysis that never impacts business decision making?

@NatalieKortum

6 Confidential 3/10/2014

Successful Ongoing Analytics

1. Meet a strategic business need.

2. Explain the analytics in a way business (non-technicals) can understand.

3. Demonstrate ROI. (Stronger results than tribal knowledge and worth the investment dollars to build analysis.)

@NatalieKortum

Tips for communicating Analysis

• Walk a mile in their shoes.

• Run your presentation past a nontechnical supporter. – Pretend your audience is your 10 year old nephew or mother.

– Only two minutes (and no more!) to explain your methodology.

– Use Analogies!

• Create proof points for your techniques – Execs who have used this approach.

– Companies/markets using this approach.

– Respected PhD or Tech person they trust to back the approach.

• Watch the assumptions.

– Choose only two or three if you must that might be highly suspect.

@NatalieKortum

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Photo Source: flickr.com/photos/newsbiepix/3612232173/

History Lesson:PricingPricing

@NatalieKortum

Non Technical Business Decision Maker

Sure, it’s worth testing

@NatalieKortum

Non Technical Business Decision Maker

Sure, it’s worth testing

Implement but I approve

@NatalieKortum

Non Technical Business Decision Maker

Sure, it’s worth testing

Implement but I approve

Implement but you approve

@NatalieKortum

Non Technical Business Decision Maker

Sure, it’s worth testing

Implement but I approve

Implement but you approve

Automate and you monitor

@NatalieKortum

Machine Controlled Pricing soars to $2 M for book

Source: michaeleisen.org/blog/?attachment_id=368

@NatalieKortum

Non Technical Business Decision Maker

Sure, it’s worth testing

Implement but I approve

Implement but you approve

Automate and you monitor

@NatalieKortum

You are the expert in this

decision, I’ll give context

Non Technical Business Decision Maker

@NatalieKortum

What’s in the future?

@NatalieKortum

Revolutionizing Decision Making: How the Analyst will take over Business Decisions

Natalie Kortum Marketing Land Summit March 2014