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Using Web Data to Drive Revenue and Reduce Costs
Presenters: Keith Cooper, CEO, ConnotateChristian Giarretta, VP of Sales
Engineering, Connotate
Moderator: Gina Cerami, VP of Marketing, Connotate
Date: March 12, 2013
Presenters
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Keith CooperChief Executive Officer
Chris GiarrettaVP of Sales Engineering
Today’s Discussion
• Why Web Data?• Drive revenue• Reduce costs and streamline processes
• Automation Options
• Scoping Your Project• Five steps to success
• Evaluating Providers• Five questions to ask
• Q&A
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The Web Provides the Largest Source of Data Ever Assembled…
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News sites
Government sites
Job boards
Financial sites
Corporate sites
eCommerce sites
Regulatory sites
Retail sites
Social forums
Healthcare sites
State and local court sites
…and the Data Continues to Grow and Change at Unprecedented Rates• 1.2 zettabytes of new digital content created in 2011*
(zettabyte = 1B terrabytes)
• The Internet will double in size every 5.32 years **
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* IDC’s The Digital Universe** PhysOrg.com
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In Order to Use All of That Information…You Need to Find It, Filter It and Format It…
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…Then You Can Turn Web Data into Profits
Sample Use Cases:Competitive intelligenceNews aggregationBackground checkPrice optimizationInvestment researchOnline ad usage reportsMarket researchRegulatory updates
Sales intelligenceBusiness risk assessmentData directoriesAggregate construction bidsSupply chain monitoringBrand monitoringVoice of the CustomerSocial media monitoring
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Using Web Data to Drive Revenue
Deliver High-Value Directories: HG Data• Challenge/Opportunity
• Build the largest, most accurate database of B2B tech customer
intelligence
• Combine public and private content in unique ways to reveal new
insights
• Solution: Use automation to cost-effectively extract business intelligence from millions of Web documents
• 10,000+ agents built to date
• Highly granular database of 1M + profiles of enterprise technology
users
• Business Benefit• Successful go-to-market: disruptive technology replaces manual
process
• Extracting new value in business area long hobbled by stale sources
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IDEX
Qualcomm
Alcatel-Lucent
AT&T Swisscom
Verizon
Vodafone
Bell Canada
Casio Computer
Research In Motion
BandRich Inc.
Kyocera
Fujitsu
Panasonic
Hitachi
Asahi Glass
Canon Inc.
Lion Corporation
Supplier to Customer Value Added Reseller
Fishbowl SolutionsCintra Software
Tata Consultancy
Law Firm of William Koy LLP
Distributor
NalcoAvnet Technology Solutions
Imation
Strategic Alliance
Reveals Customer Relationships Between Business Entities: HG Data
Gain Transparency Mid-Quarter to Better Predict Company Performance: Financial Firm• Challenge/Opportunity
• Gain daily/weekly/monthly visibility into inventory/sales of
companies and market segments where data is made public only on a
quarterly basis
• Solution: Continually monitor available inventory and other data posted on websites in those markets
• Use automation to capture precise indicators on an ongoing basis
• Analyze trends and make predictions
• Business Benefit
• Transparency supports more accurate predictions of financial
results to support smarter investment decisions
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Gain Transparency Mid-Quarter: Web Page
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Camera sales:•Check camera prices daily•Full-sweep of camera inventory weekly•Map trends, spot anomalies•Compare one or two targeted suppliers to overall segment averages
Web Page is Transformed into Usable Data
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Enhance Risk Assessment: Business Information Provider• Challenge/Opportunity
• Deliver updates/alerts on changes in assigned risk status of counterparties to a financial transaction instead of just producing a static report
• Solution: Use automation to monitor websites for updates• Monitors sites for changes that affect a business entity’s assigned risk status – mergers, acquisitions, bankruptcies, de-listings, regulatory changes, sanctions
• Business Benefit:• First-to-market with a risk assessment service offering continual monitoring
• Fresh Web data is integrated into customer (financial institution) workflow – enhancing customer “stickiness”
• Automated Web data extraction solution delivered a 6-month payback
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Web Sources
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Web Page is Transformed into Usable Data
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Price Optimization: Sigma-Aldrich
• Challenge/Opportunity
• Optimize product positioning in B2B market where buying
decisions can be motivated by a few dollars or cents
• Competitors’ prices are changing constantly
• Solution: Replace manual spot checking of prices with precise automated Web data extraction
• Continually extracts sizing/pricing on more than 150,000
products
• Acquired usable data for historical trend analysis
• Business Benefit• Optimizes prices to improve profit margins
• Reduced manpower devoted to data collection by 50%
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Price Optimization Pays Off
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Increase revenue2%- 4%
$8.75M - $16B for Fortune 500 Company
2012 Study:
Companies that successfully implement price optimization will realize 2 to 4% improvement in total revenue
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Using Web Data to Reduce Costs
Automated Records Check Improves Speed and Accuracy: Tandem Select• Challenge/Opportunity
• Criminal records are highly structured; accuracy and reliability
is key for people making hiring decisions
• Deliver guaranteed turnaround time on accurate checks without
adding staff
• Solution: Replace manual processes to extract records directly from court websites on demand
• Business Benefit
• Average background check time reduced from hours/days to minutes
• Much better quality - far fewer errors – guaranteed turnaround
time
• In 12 months, order fulfillment increased 62% while operating expenses decreased $150,000
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Automated Records Check (FetchCheck): Tandem Select
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Standard customer order at Tandem site
Tandem’s application calls Connotate/FetchCheck with a Web services request
Agent extracts, transforms and normalizes data
Information is returned to calling application
Process takes between 6 and 20 seconds to complete
Improve Revenue Collection Processes with Accurate Reporting: Interactive Advertising• Challenge/Opportunity
• Billing reconciliation was taking weeks/months (14 people
overseeing daily data collection, 5 days/week)
• Usage data posted on multiple password-protected Web sites
(portals)
• Solution: Automated Web data collection accesses portals for highly-accurate reporting and billing• Reported data is 100% error-free; data is collected 365 days/year
• Business Benefit• Quality data supports timely, accurate billing (reconciliation in days)
• Aggregated views enable ad placement optimization increasing customer ad revenue 30 – 300%
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Web Page is Transformed into Usable Data
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1. Navigates the portal2. Precisely captures statistics
3. Turns data into Excel
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Automation Options
Turning Web Data into Profits: Text
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Turning Web Data into Profits: Files
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A Closer Look at Different Approaches
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Approach Considerations
Manual offshore No economies of scale; human error compromises quality.
Crowdsourcing
A viable approach for complex tasks like product matching of apparel for one-shot projects; may be less reliable for ongoing monitoring and long-term projects.
In-house or low-cost Web scrapers
Not resilient; scrapers break when Web page HTML changes, expensive programmers must fix scripts, increasing total cost of ownership (TCO)
Robust automation installed on-premise
High degree of control; better resiliency to change – reduced TCO however, project complexity and future needs may indicated hosted solution is better
Robust solution hosted by vendor
Highest resiliency; no maintenance burden – reduced TCO; 24/7 follow-the-sun support; infinitely scalable and no capital expenditures for hardware or IT resources.
Manual versus Automated Approaches
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Your Data Needs To Automate or Not?
High-volume data monitoring Automate
Variety of sources Automate
Frequent updates and/or monitoring
Automate
Need for data post-processing
Automate
Small amount of data required just a few times a year from very simple sites
A manual approach may be adequate
One-time feed of very specific data
Purchase data from 3rd party
Product matching applications where unique identifiers are not available
May want to consider crowdsourcing
Polling Question: Web Data Collection
Are you currently collecting data from the Web?
Yes – we are doing this using an automated process
Yes – we are collecting Web data using a manual process
Yes – we are using BOTH manual and automated approaches
No – we are not collecting Web data
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Scope Your Project: 5 Steps
Scoping Your Project: 5 Steps to Success1. Clarify what you want to do with
the data
2. Look at what’s happening manually today – find out how users are accessing the Web – these are targets for automation
3. Identify the sources you need
4. Narrow your scope….you may not need “everything”
5. Anticipate future requirements
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Evaluating Providers: 5 Questions to Ask
Evaluating Providers: 5 Questions to Ask• Can it scale up easily and quickly? Look for a proven ability to handle high-volume, high-frequency
applications without draining your IT resources
• Is it resilient ?Can it withstand website formatting changes – or will it “break,” requiring
code fixes?
• How does it detect / deliver updates?You’ll save time and money with change detection with highlighting – the
ability to detect and deliver “just the changes”
• Does it support my operational workflows?Built-in job scheduling, resource shared access and other features can
increase efficiencies and coordinate workflow
• What are the deployment options?Flexible options for on-premise and hosted solutions should adapt to your
needs
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Polling Question: The Value of Automated Web Data Collection
Do you believe automating Web data monitoring and extraction could add value to your business?
Yes – we are doing this now
Yes – we are planning a project in the near future
No – not at this time
I need more information before deciding
Here’s What Success Looks Like…
Create new and enhanced products and services faster
Predict company and market performance faster, better: gain transparency into non-transparent markets
Monitor competitor prices to optimize product
positioning
Automate reporting for
timely, accurate revenue
collection
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… Connotate’s experts are ready to take you there
Q & A
Connotate will email a link to this presentation as well as a copy of the slides to you within 2 business days.
If you have an immediate need and would like us to contact you about a forthcoming project, please check the appropriate box in the last polling question or call (+1) 732-296-8844.
For more information, you may also visit www.connotate.com or www.connotate.co.uk.
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Thank You
If you have an immediate need and would like us to contact you about a forthcoming project, please check the appropriate box in the last polling question or call (+1) 732-296-8844.
For more information, visit
www.connotate.com or www.connotate.co.uk
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