how to monetize actionable business insights
TRANSCRIPT
HOW TO MONETIZE ACTIONABLE BUSINESS INSIGHTS
August 27, 20151
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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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