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Big Data has been the big buzz word for companies. The problem is, no one told them what data to look at or more importantly what to do with the data. Learn what data to focus on and then how to create a process for your team to implement.
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Big Data Without Ac.on
Glenn Pasch, COO & Partner PCG Digital Marke6ng
What is it?
Big Data Big Data[1][2] is a collec-on of data sets so large and complex that it becomes difficult to process using on-‐hand database management tools or tradi-onal data processing applica-ons. The challenges include capture, cura-on, storage,[3] search, sharing, analysis,[4] and visualiza-on. The trend to larger data sets is due to the addi-onal informa-on derivable from analysis of a single large set of related data, as compared to separate smaller sets with the same total amount of data, allowing correla-ons to be found to "spot business trends, determine quality of research, prevent diseases, link legal cita-ons, combat crime, and determine real-‐-me roadway traffic condi-ons."
Big Data
“Big data is a popular term used to describe the exponen-al growth, availability and use of informa-on, both structured and unstructured. Much has been wriKen on the big data trend and how it can serve as the basis for innova-on, differen-a-on and growth”
Goals of Workshop
• Understanding How to Use Data to Drive Results
• Understanding how one report influences others
• How to Implement Change Based on Data
What Do You Look At In Your Dealership
Impact of One report
• Data says increase paid search • More Leads come in • More Phone calls come in • Sales should go up • Did we let BDC or Internet team know what we did
• Are we staffed correctly • Did we increase accountability
No Ac.on: Shred Away
Results = Process + Effort
Results = Process + Effort
Results = Process + Effort
Mythical Dealer Internet Department Cars Sold
• Sold 50 cars • Feel they could be doing beTer on amount of leads they get
• What Data are you looking at?
Mythical Dealer Current Results
• #of leads: 600 • # of engagements 400 (66%) • # of appointments 225 (56%) • # of shows 90 (40%) • # of sales: 50 (55%) • Overall Closing ra.o: 8.3%
60 x 4 Rule to Begin
• 600 leads • 600 x 60% = 360 engagements • 360 x 60% = 216 appointments • 216 x 60% = 129 Shows • 129 x 60% = 77 cars sold • 13% closing ra.o
What Do We Want? 600 leads Current 13%
Engagements 400 360 -‐40
Appointments 225 216 -‐9
Shows 90 129 +39 How?
Sold 50 77 +27
Closing % 8% 13% +5%
Things to Look at
• What is Current Process? – Is it Documented? – Is there a script in place? – Who listens to calls? – Who is causing results? One person or the group?
– Who is training them? – Is there accountability?
The 3 Pillars What-‐Why-‐How
• Clarity of outcome in terms of DATA
• What is different • Log BEHAVIOR changes.
• Specific as possible
• This is biggest thing to communicate
• Has to be big enough
• What if I don’t change has to have pain
• Timeframe has to be short “or else”
• Specific outline • Ask for help from the team
• Everything has to .e in together
Analyze and Follow up on DATA
What if Data is Good?
• Do you inspect with same intensity?
• Do you reinforce behavior that got there?
• Do you take process for granted?
• Do you just go to another pain point?
Summary
• Data is just the star.ng point • Need to understand how data impacts all processes and other departments
• Any change to process has to be implemented correctly
• You need to monitor your data to see the impact
• Adjust as needed
– Office: 732.450.8200 – Email: [email protected] – @sidebysidecoach – www.glennpasch.com
Thanks