Finding the “Sweet Spot”: Big Data, Smart Technology, and Domain Knowledge

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Listen. Learn. EmPower EmPower Research LLC, a Genpact company All Rights Reserved.

Finding the “Sweet Spot”: Big Data, Smart

Technology, and Domain Knowledge

Listen. Learn. EmPower

www.empowerresearch.com

Debjani Deb Managing Partner

[email protected]

a company

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We are drowning in

a sea of data

Vo

lum

e o

f G

lob

al

Da

ta

in

Ex

ab

yte

s

130

2720

7910

2005

2012

2015

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3


But it’s not just the volume of data we are dealing with

Velocity of

data

Volume of

data

Variety of

data Value

from data

The 4Vs of “Big Data”

1 2 3 4

3 3 3


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4


While historically focus has been on processing big “volumes” of

data, the real value lies somewhere else

Low High

Low

High

Most companies are here

Va

lue

C o s t s / I n v e s t m e n t

T h e “ B i g ”

O p p o r t u n i t y To d a y

1 Ve l o c i t y

Real time insights on

customer preferences and

issues faced

C o s t o f d a t a p r o c e s s i n g h a s

o f t e n e x c e e d e d t h e v a l u e

2 Va r i e t y

Bringing together disparate

data-forms for holistic and

actionable insights

(high data processing and technology costs)

This is where you need to be (integrated view on volumes,

velocity and variety)

4 4 4


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5


The advent of social media: volumes, velocity and variety leading

to greater value for businesses

1 4 %

Of those online now use

social media

14% either publish a blog/ web

page or upload videos

21% post ratings or

comments in forums

31% post updates on

social sites

3 1 % 2 1 % 66%

Sources: www.sanfranciscosentinel.com, wwwblogs.forrester.com, Knowledge Networks

HOW MANY INTERNET USERS TURN TO SOCIAL MEDIA WHEN MAKING PURCHASES

REGULARLY TURN TO SOCIAL MEDIA

SOMETIMES TURN TO SOCIAL MEDIA

Travel

Services

4% & 24%

Financial

Services

4% & 10%

$$

Eating

Out

3% & 21%

Clothes or

Fashion

4% & 23%

Mobile

Phones

2% & 21%

Groceries or

Food

2% & 15%

Personal

Care

3% & 15%

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The market is waking up to the velocity , variety and value of

insights possible from this data stream: example 1

Sentiment of companies

on Twitter closely

follows market

movements. Also shows

positive correlation

between trading volume

and message volume

on Twitter

According to a study

conducted by scientists

from Indiana University

and the University of

Manchester, social

media has an 86.7%

accuracy rate at

predicting the stock

market

Sprenger and Welpe (2010)

Twitter

Trends Lead

Indicator

$$

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A leading data products company (B2B) uses social media for Identifying opportunities of sales, engagement and service improvements

Impact

30 alerts every month leading to annual sales pipeline of over $12 million

Sales alerts Service

alerts

EN

AB

LE

AC

TIO

N

Engagement alerts

Determine

Pain areas related to customer services

The most important product attributes for

exceeding end user expectations

Develop

Strategies that address enduring customer

service needs and expectations

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A global leader in confectionary products wanted to identify the impact of negativity / sentiments on overall brand loyalty

Impact

Predictive models to measure impact of negativity on loyalists

Loyalist First timers

Switchers

Week 1 Week 2 Week 3 Week 4

Increase in Awareness Sentiment

Negative

Sentiment

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The key to insights depends on how one can integrate disparate

forms of data in a near real time framework

Internal Data External Data

E-mails Surveys Call Records Social Media

Data Standardization Data cleansing Data Diagnostics

(One time)

Detailed understanding of

various data forms in which

data is captured

(Ongoing)

Detecting and correcting (or

removing) corrupt or

inaccurate records

(Ongoing)

Ensuring that field entries

from one source match field

entries from another

Bytes + Brains

Processing

Insights

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Case study 1

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O u r C l i e n t

A global leader in credit cards

B u s i n e s s

P r o b l e m The client wanted to understand a holistic net promoter score across

countries which included disparate new and existing data sources

About the client and

their business

problem

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Our approach to integrate disparate data forms

Co-relate sentiment, advocacy, loyalty and influence in real-time to directional NPS

Responsiveness

Empathy

Reliability

Respect

Security

Indicative drivers

Emails

Social Media

Call Records

Surveys

Feedback

Str

uctu

red

Unstr

uctu

red

Data source Systems Output measures Outcome

NPS

Performance

measures (Top

box excellence)

Satisfaction

measures (CSI)

System 1

System 2

System 3

System 4

EmPower Media

Interactive

Competitor

Dashboard

Competitor

Insights

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30%

48%

26%

58%

33%

59%

Service

Security

Respect

Safe transactions

won customer

confidence

Unhappy about

verification

charges

premium cards

provided were

admired

Sentiments (%)

Client Competitor

Business Outcomes

1 Competitive benchmark of

product attributes

2 Identification of customer

satisfaction drivers in real-time

Product attributes that

impact customer

experience were brought

into focus, reorienting

resources from non-

performing ones

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Case study 2

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O u r C l i e n t

B u s i n e s s

P r o b l e m


their business

problem

A leading venture capital firm

While comprehensive CRM solutions existed on profiling target

portfolios and prospect companies, the existing solutions lacked ability

to integrate real-time data on sentiments, trends, perceptions etc.

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Our approach to integrate real-time insights into CRM

Content Mining

Machine Learning

Semantic Analysis

NLP

Data Pull from the Sites into Salesforce done real-time; optimized

to filter noise; and produce customized profiles for client

Filte

ring

Company Profiling

Salesforce C

on

necto

r

Client

Salesforce

Building

blocks of

our solution

Influential sources

1 SMMART

Learning

white-list sources,

keyword hierarchy

and service bureau

2 Crawling

Engine

comprehensive

crawling from a wide

variety of sources

3 Seamless

Integration

A 2 way seamless

integration

interface

SMMART: Social Media Multi-Attribute Rating Tool

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Business Outcomes

Executive hire /

fire updates

Performance

updates between results

Sectoral

trends

Sentiment

trending

Viral news

Customer

satisfaction

New product or

innovation

Stakeholder

perception on performance

Perception of

management

A system that enables

investment professionals

with comprehensive social

media insights on their

target companies

Near-term value Velocity of actionable insights

being integrated in their CRM in

near- real time mode

Long-term value Scalability across different media

types, languages, user groups,

target companies

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Case study 3

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O u r C l i e n t

B u s i n e s s

P r o b l e m


their business

problem

World leader in pharmaceutical products

Existing databases captured point of sales and promotional data but

there was not qualitative input which explained sales fluctuations or

business impact of competitor initiatives

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Our approach

Sales

Se

ntim

en

t

Sh

are

o

f

Vo

ice

Social Media

Data (Lead) IMS Data

IMS Data

(Lag)

Medical Data

Promo Data

Awareness

Perception Sentiment

S t a r t i n g H y p o t h e s i s Marketing efforts, product features and competitor actions drive sales

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Business Outcomes

o Competitor_X’s negative tonality increased sales

o Competitor_Y’s conversations affected sales performance in a

negative way

Mon 1 Mon 2 Mon 3 Mon 4 Mon 5 Mon 6 Mon 7

Patients felt better and

well after using

Competitor_Y

Negative discussions seen on

Competitor_X side effects

influenced sales in a poitive way

Competitor_X Negative Competitor_Y Conversations

SALES

SALES

Social media integrated

with IMS data to explore

correlations between drug

KPIs and drug’s sales

performance

1 Ability to predict and positively

influence sales pipelines

2 Real time insights on strategy

and tactics

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In Conclusion

The rate of change in data creation is only increasing multi-fold each day !

Companies are challenged with existing data repositories that does not complement new sources and repositories

The challenge has to be dealt with, with the right combination of bytes and brains, to be cost effective!

The value of harnessing the data should be thought through in light of actions that it can enable….

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Disclaimer: The data presented in this presentation is collected

from publically available resources. EmPower Research doesn’t

take any responsibility on the authenticity of the data disclosed

in this presentation and outcomes of decisions taken based on

such data by the recipient of this presentation.

Listen. Learn. EmPower

www.empowerresearch.com

a company

www.genpact.com

Pharmaceuticals

Health Care

Advertising Communications/

Public Relations High Tech/

Telecom Retail/CPG Financial

Services

Finding the “Sweet Spot”: Big Data, Smart Technology, and Domain Knowledge

Business

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