The Analytical Revolution: Are You Ready? Heena Jethwa Sr. Product Marketing Manager © 2010 IBM Corporation Business Analytics Heena Jethwa Sr. Product Marketing Manager
The Analytical Revolution: Are You Ready?
Heena Jethwa Sr. Product Marketing Manager
© 2010 IBM Corporation
Business Analytics
Heena Jethwa Sr. Product Marketing Manager
Business Analytics
Commonly Asked Questions
�Can I get copies of these slides after the event?
� Is this event being recorded for later viewing?
Reap the Rewards: Create a Positive Customer Experience
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� Is this event being recorded for later viewing?
Business Analytics
Key Trends
• Research is becoming commoditized with clients less willing to pay for quality
• Clients are demanding shorter timelines for projects and faster delivery of findings
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• Businesses are seeking added value from research –more strategic thinking and high-end analysis
• Fresh information, accurate measurement and true insight
willing to pay for quality
• Non-researcher management are conducting their own
surveys on the internet
Business Analytics
A time for change: Research Press
“What’s driving consumers and markets will breathe life into a new-look research business one that’s more tightly focused on delivering clear returns, actionable information, fresh ideas and a higher level of service” than before the crisis struck” ESOMAR Research 2009
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ESOMAR Research 2009
“Painting the bigger picture and answering strategic questions is precisely what market researchers ought to be doing” Norio Taori, president of Japanese research firm INTA GE
Business Analytics
A Time for Change: Customer View
�“Today, more than ever, insight as well as foresight are essential to the success of our business.” Joan Lewis, SVP and head of consumer knowledge P&G
�“Customers are evolving – and so should
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�“Customers are evolving – and so should marketing and research techniques.” Elisabetta Osta (CMO) Barclaycard
Business Analytics
The opportunity
“I hope we’ll see collaboration efforts between various sectors to tackle the tough work required to build an infrastructure that enables integration of data from all sources … that’s a huge opportunity”
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opportunity”
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The Challenge
�Harnessing the wealth of data
�Tuning out noise from valuable insight
�Competition for insight
�Data access/silos
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�Data access/silos
�Changing relationships and expectations
�Decisions and data at the right time
�Ensuring ROI and profitability
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Business Analytics
Role of the MRI : Data Provider or Insight Partner?
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Business Analytics
Traits of an Insight Partner
�Understand and report on what people, think and do
�Data and insight expertise
�Objectivity
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�Objectivity
�Methodology
�Strong client relationship
�Deliver Insight and Foresight
�Aid strategic and holistic actions
Business Analytics
More data than we can imagine…
�1 billion transistors for every human
�10 billion devices connected to the internet
�100 Billion smart devices
�15 petabytes of new information everyday
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�15 petabytes of new information everyday
Business Analytics
What is a Petabyte ?
�20 Million 4 drawer filling cabinets filled with text
�13.3 years of HDTV video
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�13.3 years of HDTV video
�10 billion photos on facebook
Business Analytics
Attitudinal data- Opinions- Preferences- Needs & Desires
Interaction data- E-Mail - Call center notes - Web Click-streams- Blogs/ social networks
Leveraging all data
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Behavioral data- Orders- Transactions- Payment history- Usage history
Descriptive data- Attributes- Characteristics- Self-declared info- (Geo)demographics
�Predictive Analytics .. For data (structured and unstructured)
How can you harness ALL this data and delivering Insight and Foresight
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Business Analytics
unstructured)
Business Analytics
The Power of Predictive Analytics- Data Mining
There’s analytics…and analytics
�Typical analysis (reporting)
–Measure. Compare. Report. Study.
–“Rear-view mirror”
–Data cuts and crosstabs
�Predictive analytics
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�Predictive analytics
–Algorithms automatically “learn” significant patterns
–Include all data types attitudinal, transactional, demographic and Interactive
–Models make predictions for current/new cases
–Insight delivered to drive better business decisions
Business Analytics
Data Mining – Fact or Fiction?
“Predictive Analytics doesn’t have a whole lot to do with Market Research”
“Predictive Analytics is really no different than BI… they’re both based on a look in the rear
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BI… they’re both based on a look in the rear view mirror”
“Data mining would add little perceived value to MR customers… so why add another tool to the
toolbox”
Business Analytics
Data Mining –Dispelling Myths
� Predictive Analytics and Market Research– Add value at multiple stages of research – from respondent management, through
data processing, to innovative reporting that delivers deeper, more actionable insight
– Deliver Foresight and insight
� Predictive Analytics vs. Typical Reporting– Report on data up to the time it’s pulled
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– Report on data up to the time it’s pulled
– Predictive Analytics uses an extensive pool of algorithms to predict what will happen next
– Let´s the data do the talking and exploring
� Creating Value & Differentiating with Predictive analytics– Customers increasingly want innovative approaches that help them understand
their business better and make more informed decisions
– Meeting this customer need makes the Market Researcher a more strategic business partner
Business Analytics
The Predictive Analytics Process
Predictive Analytics
Analyze data to
provide insight and
predict the future
Predict
THIS IS WHERE THE INSIGHT PARTNER REALLY IS NEEDED
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Decision Optimization
People Data& Enterprise Data Sources
Store new data
on customers,
events, etc. for
continuous
improvement
Predictive Analytics
Capture Act
�Improve customer retention
�Grow share of wallet
�Minimize risk
�Increase customer satisfaction
� Enhance market share
Prospects
Customers Constituents
Employees
Students Patients
Business Analytics
� “More and more people are living part of their lives online and sites like Facebook provide a way for brands and researchers to move beyond traditional onewayobservation and dialogs.”
Meg Sloan, market research Lead Facebook
Text Mining in Market Research?
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� “The combination of social computing tools and an understanding of social networks is allowing us to build new types of research communities as well as observe organically created ones, in which respondents can interact not only with the researchers but with our clients and, most fertilely, with each other
� Mike Cooke GFK NOP
Business Analytics
Time is of the essence
ComplexResponses need
interpretation.
RestrictivePre-determined coding scheme for consistency.
Time-Consuming& Costly
The standard coding process...
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Text is read quicklyand intelligently.
(Natural Language Processing)
A robust coding scheme is derived.
(Manual/Automatic)
Response coding is fast, accurate,and consistent.
Scalable.Projects are
easily re-usable with new data-sets.
With IBM SPSS Text Analytics...
Business Analytics
Including Social media channelsComments regarding customer experience:
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Sentiment Analysis enables organizations to categorize a person’s own words based on both business issues and customer opinions
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From Unstructured to insight to foresight
From analyst workbenches…
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…to executive reports
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Text mining in Market Research: Extracting the Value
�Speed– The power to run text automatically
�Focus– To find the key concepts and phrases
� Integration– Look across many different sources
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– Look across many different sources
�Value – Deliver insight that is critical and impactful
“Text Mining can be one of the most powerful tools to discover new insights and hypotheses from existing data”
Dr. Markus Eberl TNS Infratest Forschung GmbH
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Business Analytics
Complete Workbench
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I2
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I2 New image with some blurbs...take it apart a bit and show value that may be easier to lead into the other stuff???IBM_USER, 4/26/2010
Business Analytics
Complete Workbench
�Access both structured and unstructured data from virtually anywhere
�Powerful data aggregation, transformation, cleansing and manipulation
�Full range of modeling algorithms
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�Full range of modeling algorithms �Apply multiple techniques and
create ensemble models easily�Leverage intuitive visualizations
to evaluate models�Deploy predictive intelligence in
multiple ways
I1
Slide 24
I1 New image with some blurbs...take it apart a bit and show value that may be easier to lead into the other stuff???IBM_USER, 4/26/2010
Business Analytics
Predicting Outcomes and Measuring Effects
Let the data show you the path to an outcome
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Is this factor consistently important?
What is important to the outcome? How does this
factor contribute to the outcome?
Where are the links between events?
Business Analytics
Finding Commonalities and Differences
Find clusters and interact with results visually
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Find anomalies and identify their root cause
Not forgetting Data management and quality
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Business Analytics
Business Analytics
Data Sources & Preview
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Business Analytics
Data Merge & Preview
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Data Visualization and Preparation
Visualization Use tables and reports
Use interactive graphs
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Transformation and Preparation
Use interactive graphs
Summarize and Manipulate Records
Clean, Transform and Validate Fields
Business Analytics
Automatic Data Preparation
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Business Analytics
Data Analysis & Modeling
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Business Analytics
Internal DataInternal Data
Transactions, Utilisation, ...
Hard Facts
���� Where, what, when,
Transactions, Utilisation, ...
Hard Facts
���� Where, what, when,
External DataExternal Data
Needs, Motivations, Satisfaction
Soft Facts
���� Why, how, what for?
Needs, Motivations, Satisfaction
Soft Facts
���� Why, how, what for?
DataFusion enriches internal data with attitudes
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���� Where, what, when, how much?
���� Where, what, when, how much?
BehaviourBehaviour
���� Why, how, what for?���� Why, how, what for?
AttitudesAttitudes
Attitude-basedDatabase Enrichment
Attitude-basedDatabase Enrichment
Business Analytics
Contact
data:
name,
address,
phone,
...
Master
data:
age,
gender,
...
Transaction
data
(behaviour):
product
usage,
...
Internal Data: customer database
Projecting the market research findings back into the customer
database
Data Fusion
DataFusion - Methodological Approach
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Market research:
typology of consumers,
target segments, affinities, scores, …
Master
dataTransaction
data
Model estimation
Anonymous,representative sample
customer-ID <=>
interview-ID
Sampling
Business Analytics
IBM SPSS Technology
�Created to be:
–Innovative
–Powerful
–Flexible
–Integrated
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–Integrated
–Scalable
–Easy to use
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The Future
‘The future is already here – it’s just unevenly distributed.’
William Gibson (1999)
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Business Analytics
�Changing dynamics of the MRI
Summary
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�Changing dynamics of the MRI
�Leverage comprehensive workbench for data and text
�Maximize efficiencies throughout the research process
�Capitalize on new market trends
�Deliver insight and foresight
�Become the Insight Partner
Questions?
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Business Analytics
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