how to monetize actionable business insights

HOW TO MONETIZE ACTIONABLE BUSINESS INSIGHTS

August 27, 20151

@DataRPM

HOW TO MONETIZE ACTIONABLE BUSINESS INSIGHTS

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• Link to recording and slides will be sent to you• Submit your questions via the control panel

Today’s Presenters:Nitin Sharma - Chief Insight Officer, DataRPMPrevious: Udacity, Groupon, Google, Yahoo

Ruban Phukan – Co-founder & Chief Product Officer, DataRPMPrevious: Yahoo, Ibibo, Pixrat, Bixee

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KEY MESSAGES

• Enormous hidden value in every business

• Finding patterns beyond the obvious is how one harnesses it

• Data Science - done right - can drive hundreds of millions of dollars in revenue and profits

eious is how one harnesses it

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WHAT IS DATA SCIENCE?

Discovering hidden patterns

…in very large data sets

…that predict something of value.

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A REAL EXAMPLE: YAHOO! HOME PAGE

IE Version Netscape Version

Netscape users searched more often on Yahoo!

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SMALL CHANGE, BIG IMPACT!

• Centering the search box increased Yahoo’s search share overnight!

– Tens of millions of dollars of incremental rev for Y!

– Practically zero cost

• Practically zero cost

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TRANSFORMING GROUPON INTO A DATA-DRIVEN COMPANY

• Knowing what problems to solve– Data as eyes and ears

• Data & Science to drive every part of its operations– Data as the brain, driving all business decisions

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SCALING & OPTIMIZING GROUPON

• Knowing what problems to solve

• Two examples:• “Mulligans”• Deal Placement

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MULLIGAN - ONE MORE CHANCE

• “No longer available!”

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BUSINESS IMPACT

$300 M in Incremental Annual Rev Globally!

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Deal DISTANCE MATTERS MOST!

Deals within 5 miles have 4X the conversion rate

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BUT...FEW DEALS NEAR SUBSCRIBERS!

Only 17% of impressions were within 5 miles!

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SUB-OPTIMAL DEAL LOCATIONS

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Large holes – chunks of subscribers without any nearby deals

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OPTIMAL DEAL SCHEDULING

...a multi-factor facilities location problem!

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Subscriber Density

Merchant Density

Sales Rep Cost

MODEL

Historical $$

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BUSINESS IMPACT

$200-$250 M in Annual Rev

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KEY TAKE AWAYS

• Enormous hidden value in every business

• Data ←→ Business bridge critical to uncovering it

• Patterns beyond the obvious can create hundreds of millions of dollars of incremental value

RECIPES FOR AMAZING INSIGHTS!

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INSANITY IN DATA WORLD IS……Looking At Same Data, Same Way Over And Over Using Different Tools

And Expecting Different Insights!

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INDUSTRY IS LOSING!

$125 Billion Big Data

Market! *

Less Than 1% Data Gets Analyzed!*

100’s of Millions-of-Dollars Insights

Undiscovered!

*Facts Source: IDC

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HOW TO DISCOVER AMAZING INSIGHTS?

LOOK, BEYOND THE OBVIOUS!

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DATA FUSIONData

Are Like Pieces Of The Insights

Puzzle!

Assembling all data pieces internal & external

gives the complete picture!

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MORE DATA TRUMPS BETTER ALGORITHMS

Better Algorithms Better Insights

Team A: Sophisticated Algorithms Team B: Simple Algorithm With IMDB Data Fusion

Two Stanford Teams

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GRANULARITY IS THE KEY TO AMAZING INSIGHTS!

Large Car ManufacturerAbsenteeism Impacts Production

Identify Factors For AbsenteeismPredict Absentees

No Patterns From Leave DataCoarse Grained!Data Fusion Revealed Patterns!WeatherLocal EventsTrafficSports Local School Holiday Schedules

Insights For Huge Optimization!

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ABOUT DATARPM

Advanced Analytics ProductFusion Insights Recipes

10’s & 100’s Millions $ ImpactRevenue Growth

Cost Reduction

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DATARPM PRODUCT

Business InsightsRecipes

Automated Solutions For Various Business ProblemsApplied Algorithms WorkflowsCreated By Industry Expert Data Scientists

Data Fusion

Curated Rich External Data SourcesAutomated Mashup With Internal Business DataBuilt-in Logic To Analyze At Various Granularities

Natural LanguageQuestion AnswerAnalyze Data By Asking

Questions In EnglishAutomated Computation From English QueriesAutomated Visualization Of Computed Results

• Order Size & Frequency• Demand Forecasting• Attribution

• Retention / Churn• Recommendations• Influential Factor

Productize $$$ Insights Discovery!

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POWER OF FUSION INSIGHTS!

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SOLVE WITHOUTAN ARMY OF

DATA SCIENTISTS

ACCESSIBLE & USABLE BY

BUSINESS USERS

CONTINUOUS, REPEATABLE,

SCALABLE

EASILY CUSTOMIZABLE,

LEARNING

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POWER OF NATURAL LANGUAGE!

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ASK QUESTIONS TO YOUR DATA IN

ENGLISH!

ANYONE CAN NOW BE A

DATA SCIENTIST

FASTEST WAY TOSMART INSIGHTS

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EARLY ADOPTERS

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THANKS FOR JOINING TODAY• More info: DataRPM.com• Social

o Twitter: @DataRPMo DataRPM.com/facebooko Datarpm.com/linkedin

• Next up in the Beyond the Obvious webinar series: Bill Schmarzo, Chief Technology Officer, EMC Global Services Big Data Practice

Thank you for joining us!

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