in Big Data Projects, with Case Studies in Digital Analytics Paul - - PowerPoint PPT Presentation

Successfully Closing the Insights-to-Action Gap in Big Data Projects, with Case Studies in Digital Analytics

Paul Maiste Mark Kovscek

PAUL MAISTE, President Lityx, LLC

2

BUSINESS VALUE AND BIG DATA

ALL BIG DATA PROJECTS

PROJECTS w/ ADVANCED ANALYTICS & BETTER DECISIONS AS #1 GOAL SUCCESSFUL PROJECTS

0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%

3

Insights to Action Gap

Reporting BI Modeling Optimization

BIG DATA

CAN BIG DATA CLOSE THE INSIGHTS TO ACTION GAP?

4

Customer Segmentation Media/ Budget Optimization Optimized Targeting Media Attribution Cross- Channel Optimization Customer Behavior Modeling

THE PROMISE OF ADVANCED ANALYTICS

✓Improved decision making ✓Faster time to market ✓Higher ROI

➢ 90% improvement in acquisition rates + reduced cost per acquisition ➢ 265% lift in predicting re-purchase behavior ➢ 50%+ reduction in cost per opportunity in channel ➢ 330% lift in identifying at-risk customers ➢ 20%+ increase in prospect campaign response rates ➢ 70% reduction in annual spending/ higher net revenue per donor

5

Getting the Data Science Right Aligning Insights & Audiences Scalable and Automated

KEYS TO ADVANCED ANALYTICS SUCCESS

1. 2. 3.

✓ Technique and approach matter where data is concerned ✓ Insights only become actionable when the intended audience/user is able to easily act upon them ✓ Integrating and automating complex tasks “operationalizes” analytics

6

MARK KOVSCEK, Founder and CEO of Conservation Labs

Icons made by Freepik from www.flaticon.com

Supply Chain Media Optimization Tax Audits Water Conservation

7

OPPORTUNITY:

Search optimization. Identify patterns and trends in keyword performance and deliver bid change recommendations

CASE 1

• Solution must be easily usable by non-statisticians (search analysts)
• Keyword data can quickly "blow up" to billions of records or combinations of records
• Response time must be seconds to minutes
• Solution must be scalable and extensible to many client situations

CHALLENGES

• Leverage existing reporting and visualization solutions
• Translate "analytic speak" to "search speak"
• Create and embed new features to select analysis periods, targets and other data to refine

campaigns

• Deliver simple outputs that provide confidence in the answer and allow for easy activation

APPROACH

8

9

SOLUTION:

CASE 1

➢ Advanced analytics that "sits on top of" search campaign management platforms ➢ Segment keywords with statistical tools to provide visibility into keyword performance and segment keywords into behavioral profiles ➢ Provide specific bid change recommendations

PERFORMANCE:

✓ 20% reduction in CPA ✓ 30% increase in KPI performance ✓ 40% increase in ROI

OPPORTUNITY:

Moving from rear-view, descriptive measurement to predictive, prescriptive, and actionable insights

CASE 2

• Solution must be easily usable by non-statisticians (analysts, brand managers, marketers)
• Massive amount of data, often with suspect quality
• Decisions have to be made from real-time to twelve months ahead with an understanding of

the relationship

• Conventional analytic models, approaches, and outcomes are black box, expensive, hard to

update and sometimes hard to explain CHALLENGES

• Ensure the data is correct and trustworthy
• Reduce time spent on data cleanup and increase time spent on insight development
• Deliver outcomes with a stunning and interactive user experience

APPROACH

10

11

SOLUTION:

CASE 2

➢ The analytics manages the analytics (AI for AI) ➢ Accept any data that has an outcome, dimensions, and metrics ➢ Focus on the insights, not the methods ➢ Build trust in results ➢ Highly interactive stories

PERFORMANCE:

✓ Improve the productivity of labor and technology ✓ Increase the efficiency of media spend ✓ Improve customer acquisition, retention, and revenue per customer

QUESTIONS

Paul Maiste Mark Kovscek Paul: 410-919-8093 maiste@lityx.com