Cost & benefits of business analytics marshall sponder

Turning your Data into Insights (Business Intelligence)

“The challenge is how to take the vast quantities of data in today’s organizations and transform them into a format that is both practical and useful to the business.”

– David Acca – Magic Software.

Turning your Data into Insights (Business Intelligence)

2 ways, common viewpoint and my own approach. (TCO costs are difficult to estimate and will vary by vendor and implementation)

• 1)Business Intelligence (as it is currently understood and practiced within the BI community)

• 2)UV Analytics Implementation (uncovering Ultraviolet Data – my own approach)

1)Start by building Departmental BI Systems (i.e.: Sales)

… Then, Link Departmental BI together into Enterprise BI

Setting up and Maintaining A Single Version of “Truth” is costly

IT personnel

costsaccount for 71% of total

costs

Reasons for embarking on an Business Intelligence Program

• Enhance cost-efficiency and productivity• Build stronger customer relationships• Optimize revenue-generating strategies• Monitor trends and discover anomalies• Forecast business opportunities• Avoid potential threats in time

Investment in Business Intelligence saves money

•Regardless of the business climate at any point in time, companies always need to save money and make money through their technology investments. These two filters are sacrosanct: all investments should serve one or both of these objectives.

- Cutter Consortium

2) “Enablement” based approach

• Businesses have several sources of data but they are often located in silos (many applications were never designed or intended to interoperate).

• Social Data, in particular, is often stored in a listening platform (such as Radian6, Brandwatch, Sysomos), and not integrated with other Analytics (this is beginning to change).

• We want to go farther.

The Social Enablement Audit TM

Source: WebMetricsGuru IncMap You Data!

Finding where Data lies, How to Enable it, and Weather to do so

Source: WebMetricsGuru Inc

Enabling Data Capture

Source: WebMetricsGuru Inc

Data Enablement - What makes it worth doing in the first place?

• Cost savings of less than 10% are not worth chasing because the political, social, and organizational costs will likely offset the savings.

• Revenue growth in the 10%-plus may be worth pursuing

since the chain-reaction effect of revenue growth.

• Expected Revenue Growth of 20%-plus should be aggressively pursued if the politics, culture, and organizational lights are green.

source: Cutter Consortium

Preparing for Insights via an Enablement Audit

• Start with an Data Enablement Audit (typically ~ @50K-100K – 3 to 6 months)• Consultative approach• Discovery Process (interviews)• Audit Walkthroughs • Establish Business Objectives (i.e.: Sales, Online Lead

Gen, Brand Awareness, Increase SOV)• Map Biz Objectives to Key Performance Indicators• Survey existing platform solutions &map back to biz

objectives and KPI’s while identifying measurement overlaps and gaps

• Develop authoritative scorecards with standardized data extracts.

Is your organization is ready for an Audit?

•Will undertaking a data enablement project add to the clarity of your organization, or add to it’s confusion?

• If, the latter is the case, don't proceed, till you figure it out! (get all your “t’s” lined up first)

Why Data Enablement?• Discover new patterns within your data, learn to

fundamentally frame and leverage the data to advance your organizations’ business.

• Finding the right set of internal and external resources helps - if you choose wrong, your Enablement project may not succeed, or be severely crippled if it does - end up taking much longer and costing much more.

Data Enablement Approach determines the results we get• http://www.presencing.com/

With the right approach this work much easier and cost effective – that is what is presented in the following slides.

Pick the Right Team (it must be a Team Approach)

•Software, systems and devices are often complex to decode - you need a team approach, so that at least one person on the team understand what they are looking at (data), in each instance.

Have The Right Point Of View

•Data enablement takes a particular POV, so as to see the big picture, as we're looking for particular synergies, overlaps, gaps, and useful strengths we can leverage, to pull it all together as a unified whole.

Check Your Maturity Level?

Source: Collective Intellect

Know when to call in the Calvary

•The degree of optimization possible correlates directly with the wackiness of the corporate culture.

• Having fresh sets of eyes helps to detect synergies and dysfunction ignored by internal stakeholders and employees, but obvious to onlookers.

source: Cutter Consortium

Demystifying the Challenge of Enterprise Data

Source: Oz Sultan

Enterprise Companies made large investments in content, operations management and commerce systems that don’t easily integrate with social media technologies.

Lastly, the concept of user profiles is very similar to Marshall Sponder’s allusion to “ultraviolet data”.

In the Enterprise, there’s unseen or “ultraviolet data” as well as multiple user profiles in multiple repositories across different corporate divisions (think CRM, CSR, Marketing, Corporate Communications and Operations).

Ultraviolet data is the information “you could be catching, but aren’t”

Source: Oz Sultan

The Value of This Data is “immense”

Next Steps to Data Enablement and Data Value

• Educate the Exec• Identify Exec Champions & Data Champions• Commission a DATA ENABLEMENT AUDIT (3-6

months 50K-100K cost)• Develop Data Policies & Guidelines• Get Audit, Learn from it, Develop New Policies

and Plans• Manage Expectations, revisit, redo Audit on a

Regular Basis. Source: Oz Sultan

Data Champion - Battles Won “Two or three years from now, every public relations firm

that wants to be taken seriously in the C-suite and/or a lead marketing role with have someone like Marshall in its senior leadership ranks, a chief analytics officer responsible for ensuring that account leaders think more deeply about analytics and that the firm works with the best available outside suppliers to integrate analytics appropriately”.

holmesreport.com - Does Your Agency Need A Chief Analytics Officer – written in

Davos, CH

Marshall SponderWebMetricsGuru INC.

www.smabook.comwww.webmetricsguru.co

m

now.seo@gmail.com@webmetricsguru@smanalyticsbook

http://www.smabook.com

WebMetricsGuru INC.