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“ It ain't what you don't know that gets you into trouble. It's what you know for sure that just ain't so.!!
- Mark Twain
Library of Congress, Circa 1907
“
Welcome to the age of data. No matter your interests (sports, movies, politics), your industry (finance, marketing, technology, manufacturing), or the type of organization you work for (big company, nonprofit, small start-up)—your world is awash with data.!!
!
- Thomas Davenport
“tomdavenport.com
Too many businesses are run on:
GUESSES
INERTIAAssumptions
LACK OF INFORMED DECISIONS
This view is limiting, challenging and creates a spiral effect due to
Lack of Integrated Knowledge Systems
CUSTOMERSRevenue
Wrong decisions lead to LOST
&
LESSONS FROM
2007:Using Data to Challenge
Assumptions in the Housing Market
John Paulson
AGAINST
BUBBLEthe subprime mortgageBET
The New York Times
found anomalies in the data and
*Wikipedia
Overview: Paulson discovered an anomaly in the data and expected a market correction.
Data Finding: He organized a fund to bet against the subprime mortgage bubble, despite prevailing assumptions that the market was favorable.
Result: Paulson’s keen data insight was proven upon the collapse of the market, and has been called “the greatest trade ever.”
Sometimes, instincts and assumptions are completely
INCORRECTHOW USAGE DATA TURNED
THE TOOTHBRUSH INDUSTRY ON ITS HEAD
ideo.com
I D E O a n d O r a l B
CHALLENGEDthe industry assumption
BIGGERTHEY MADE THEM
that children are smaller people so they need smal ler toothbrushes.
Based off usage data g a t h e r e d i n f i e l d r e s e a r c h findings,
*ideo.com
Overview: IDEO questioned the market assumption that a children’s toothbrush should be smaller.
Data Finding: By gathering usage data on how children actually use a toothbrush, they found that young children lacked the dexterity of adults and tended to grip a toothbrush in their fist, necessitating a chunkier, wider design.
Result: The new take on an old product re-invented it, giving them an 18-month market lead in design.
flickr.com/photos/zeitzeph/6752464457
Balancing
DATAwith
INSTINCTSKNOWING YOUR CUSTOMERS
flickr.com/photos/zeitzeph/6752464457
!
took
PROACTIVE
INNOVATIONWit
to reach them at the perfect
moment
OREO
,
& Wikimedia Commons/ Robbgodshaw
!
steps to KNOW its customers!
and reacted with SPEED
RESULTS 15K+ RETWEETS
8 K + NEW FOLLOWERS
2 0 K + FACEBOOK LIKES
3 4 K + INSTAGRAM FOLLOWERS
forbes.com/sites/jenniferrooney/2013/02/04/behind-the-scenes-of-oreos-real-time-super-bowl-slam-dunk/!wired.com/2013/02/oreo-twitter-super-bowl/
Overview: Surveys conducted prior to the Super Bowl XLVII game showed that over 1/3rd of users (36%) would be consulting a 2nd screen while viewing the event.*
Data Finding: Oreo proactively assembled brand and agency experts in a New York command center to respond in real-time to the events of the game.
Result: Although the blackout was completely unpredictable, Oreo leveraged the moment to effectively boost its social media presence.
forbes.com/sites/jenniferrooney/2013/02/04/behind-the-scenes-of-oreos-real-time-super-bowl-slam-dunk/!wired.com/2013/02/oreo-twitter-super-bowl/
As a result of increased pressure to make
better decisions faster, an evolution is occurring in the development of a data-driven culture, typically based on the use of
analytics and business intelligence.
The Evolution of Decision Making: How Leading Organizations Are Adopting a Data-Driven Culture, HBR Analytic Services, 2012
The Impact of a
DATA-DRIVEN CULTURE
The Evolution of Decision Making: How Leading Organizations Are Adopting a Data-Driven Culture, HBR Analytic Services, 2012
Analytics is
CHANGING Individuals and Organizations
Look at past data for information on
TRENDS PATTERNS INSIGHTS
Leading analytics users embrace a host of strategies, which evolve into best practices to create an “analytics ecosystem” in their
organizations over time. !
As timely decision making becomes more important, analytics is improving—and
changing—the way those decisions get made.
The Evolution of Decision Making: How Leading Organizations Are Adopting a Data-Driven Culture, HBR Analytic Services, 2012
It’s time to bring data-driven culture to the Academic World
In the dot-com space, we have in general seven seconds or less to entice the customer; otherwise they will be going to our competitors. That means we need a laser focus on how we deliver products and services the minute the customer comes to the site.!— Kerem Tomak, vice president of analytics for macys.com“
Introducing
Intuitive Visual Interface: Stay on top of their customers’ needs, proactively deal with risks, easily spot opportunities and grow their business.
Build Efficiency and Customer Satisfaction: Personalize your experience to have fast and easy access to customized reports and tailor content to meet customer demand
Adaptive Technology: Constantly evolving to deliver flexibility to publishers to do what is best for their customers and content.
Renew accounts more easily by
monitoring changes in usage and testing alternative bundles.
Discover new accounts by easily
tracking down excessive denials and pay-per-views.
Grow your business by using real-time
benchmarks to develop customized, competitive solutions.
CASE STUDIES
FUTURE OF
Find out where you stand and how the market is performing
Find out what the customer is buying and how you stack against the market
Sign Up Today and Get Started with RedLink Access
Deepika Bajaj!VP, Publisher Relations!E: [email protected]!T: +1 650 224 9726
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