Upgrade to Pro — share decks privately, control downloads, hide ads and more …

Analytics|Moving Beyond Numbers

Analytics|Moving Beyond Numbers

Analytics has evolved from a support function into a Core Decision making tool. It provides unique capability of connecting the dots across organization & outside and leverage best practices/insights into making Decisions more actionable and outcomes predictable. With a top-down strategic view, iterative Test & Learn framework, hybrid team structure, context based User Experience Design, dual objective (Business & Learning) & recommendation/business case storytelling takes the Analytics deliverables into next level.

Ramkumar Ravichandran

September 30, 2015
Tweet

Other Decks in Business

Transcript

  1. Intended for Knowledge Sharing only Disclaimer: Participation in this summit

    is purely on a personal basis and does not represent VISA,Inc. in any form or matter. The talk is based on learning from work across industries and firms. Care has been taken to ensure no proprietary or work related info of any firm is used in any material. Director, Insights at Visa, Inc. Enable Decision Making at the Executives/ Product/Marketing level via actionable insights derived from Data. RAMKUMAR RAVICHANDRAN
  2. Intended for Knowledge Sharing only Quick recap of what it

    is Intended for Knowledge Sharing only Analytics -> “Decision making business”
  3. THE THREE BIG BUCKETS OF ANALYTICS… Intended for Knowledge Sharing

    only 5 Prescriptive "what needs be done" Predictive "what drives it" Descriptive “What is going on"
  4. EXPECTATIONS ON TYPE OF INSIGHTS ARE CHANGING FROM THESE… Intended

    for Knowledge Sharing only 6  Overall NPS: 70% (Promoters: 80%; Detractors: 10%)  What are the Promoters happy about?  60% of the users love the simplicity of use of Mobile App  40% feel the recommendations are relevant  30% like the two level authentication feature  What are the Detractors unhappy about?  10% hate the password reset experience  8% feel that password reset link takes too long to reach their email inbox  5% feel that the text updates don’t provide sufficient information  What new features did the users ask for?  Monthly reminders  Functionality for the receivers to confirm the payment  FX conversion change alerts
  5. EXPECTATIONS ON TYPE OF INSIGHTS ARE CHANGING FROM THESE… Intended

    for Knowledge Sharing only 7  Overall NPS: 70% (Promoters: 80%; Detractors: 10%)  What are the Promoters happy about?  60% of the users love the simplicity of use of Mobile App  40% feel the recommendations are relevant  30% like the two level authentication feature  What are the Detractors unhappy about?  10% hate the password reset experience  8% feel that password reset link takes too long to reach their email inbox  5% feel that the text updates don’t provide sufficient information  What new features did the users ask for?  Monthly reminders  Functionality for the receivers to confirm the payment  FX conversion change alerts Recommendation: • Run four App promotions to the Customer base via Ads on Site, Search engine, Text options in the quarter preceding holiday season. Business Case: • Significant share of Positive reviews for the App. • App Customers spend 3X time within the App and Annual $ Purchase is 4X vs. Website Customers. • Assuming historical CTR and Impressions purchased over the four campaigns expected to yield 2M App Customers. • Expected CPA of will be recovered via the incremental spend by the acquired Customers over the first year.
  6. 8 MULTIPLE VALUE PROP OF ANALYTICS Intended for Knowledge Sharing

    only Size behaviors with KPIs and high level drilldowns (Sizing) Inform Investigate Predict Optimize Mine Root cause analysis: Hypotheses testing via data drilldowns (Business Analytics) Determine Causal relationships (Advanced Analytics) Experiments on options to verify which one works (A/B Testing) Automated relationship discovery and Data Products (Machine Learning) What do I do?
  7. Intended for Knowledge Sharing only Quick recap of what it

    is Intended for Knowledge Sharing only What do we need for this?
  8. WHAT DO WE NEED FOR THIS? Intended for Knowledge Sharing

    only 1 Strategic View 2 Outcome Focused Delivery Framework 3 Organizational Transformation  “Corporate” Strategic KPIs (Lean)  “Business” Strategy Monitoring  “Functional” Initiative Alignment  Strategy Driven Open Analytics Platform (Top-Down) that drives all initiatives  People-Process-Technology-Culture
  9. Intended for Knowledge Sharing only Quick recap of what it

    is Intended for Knowledge Sharing only The Strategic View
  10. CORPORATE STRATEGY LEAN ANALYTICS – ALIGNED TO STRATEGIC GOALS Intended

    for Knowledge Sharing only  Understand Strategic Goals  Aligned KPIs (Lean Analytics)  Define “Success Criteria” BUSINESS STRATEGY  Benchmarking  Understand progress – action plan FUNCTIONAL STRATEGY  Continuous Monitoring of KPIs, the initiatives driving the KPIs and the necessary rejigs
  11. CORPORATE STRATEGY- AN ILLUSTRATIVE EXAMPLE Intended for Knowledge Sharing only

    Define Strategy for the Business and create metrics to monitor progress against Strategic Goals… 1. Expand the Patient user base a. Awareness and Consideration b. Sign-up Channel performance c. Geo Performance 2. Ensure Top Quality Care for Patients a. #Patients visiting hospitals b. Actual usage of Preventive initiatives c. #Return visits per Patient d. Feedback from Patients – Doctor, Care, etc. e. Uptime of service availability 3. Return per Patient a. Cost of service per Patient b. In Hospital Stay vs. On-call treatment options c. Risk adjusted Premium d. Availability 4. Expand Offerings a. Research & Development b. Strategic Tie-ups c. Preventive Healthcare d. Re-insurance Current Month MoM (%) YoY (%) HELPS LEADERSHIP MONITOR BUSINESS & TAKE PROACTIVE ACTION/RAPID RESPONSE
  12. CORRESPONDING BUSINESS STRATEGY- ILLUSTRATIVE EXAMPLE Intended for Knowledge Sharing only

    Monitor performance against Competitors & identify areas of Strengths & Weaknesses… Firm Competitor 1 Competitor 2 Benchmarking against Competitors (and drilldowns) gives sound baseline for performance & helps identify areas of Strengths/Weaknesses 1. Expand the Patient user base a. Awareness and Consideration b. Sign-up Channel performance c. Geo Performance 2. Ensure Top Quality Care for Patients a. #Patients visiting hospitals b. Actual usage of Preventive initiatives c. #Return visits per Patient d. Feedback from Patients – Doctor, Care, etc. e. Uptime of service availability 3. Return per Patient a. Cost of service per Patient b. In Hospital Stay vs. On-call treatment options c. Risk adjusted Premium d. Availability 4. Expand Offerings a. Research & Development b. Strategic Tie-ups c. Preventive Healthcare d. Re-insurance
  13. CORRESPONDING FUNCTIONAL STRATEGY- ILLUSTRATIVE EXAMPLE Intended for Knowledge Sharing only

    Monitor performance of Functions (Product Management, Marketing, Sales & Operations) via Balance Scorecard Approach… Project Description Why? How did you arrive at Why? Exp Impact on Strategic Metrics Level of Effort Status/ Actuals Action ETA Product Management Marketing Sales Operations Finance Risk Expected & Actual impacts from all projects are then rolled up to get total impact and then compared against Annual Corporate Goals - Envision new projects/reprioritize efforts on live ones to meet goals …Balance Scorecard is regularly updated/monitored to check progress against Goals and requisite actions are taken
  14. Intended for Knowledge Sharing only Quick recap of what it

    is Intended for Knowledge Sharing only Outcome Focused Delivery Framework
  15. TOP DOWN APPROACH Intended for Knowledge Sharing only - Freeze

    KPIs at the highest level - Assign ownership of KPIs to BUs - Identify Key Levers, Drivers & Segments e.g., KPI #1: Revenue Levers: UU*(Visits/UU)*(Clicks/Visit)*CPC Drivers: UU= Marketing & PR Visits/UU = Product/UED, etc. Segments: Region, Eng Segments, Product Type OUTCOME FOCUSSED VIEW
  16. REQUIRED DATA INSTRUMENTATION Intended for Knowledge Sharing only - Prioritization/negotiation

    of metrics - Incorporate data needs into PRD/BRD - Regular check-ins to ensure progress or suggest workarounds - QA Checklist & success criteria - UAT DATA INSTRUMENTATION
  17. THE DATA MANAGEMENT Intended for Knowledge Sharing only - Efficient

    Data preparations customized for different & evolving needs - Data Quality/Validation & Change Management - Data Governance (Legal/need based) - Master Data Management - Data Lineage, etc. DATA MANAGEMENT
  18. FIRST LEVEL INSIGHTS Intended for Knowledge Sharing only - BI

    Reports & Analytics to ensure validity of insights (Single source of Truth) - Connecting the dots across the spectrum - Build->Test->Learn->Improve->Handover FIRST LEVEL INSIGHTS
  19. OPEN ANALYTICS PLATFORM Intended for Knowledge Sharing only OPEN ANALYTICS

    PLATFORM • Datamarts/Dashboards/Insights • Documentation • Standard logic, definitions, nuances • Legal approvals & Access management • Map & flow of data & insights • Communication • Key milestones achieved • Roadmap – short vs. long term • Guidelines • New BU initiatives • Change Management • Must avoids & best practices • Training materials • Past learning
  20. A CENTRAL OPEN ANALYTICS PLATFORM SHOULD DRIVE ALL INSIGHT GENERATION

    Intended for Knowledge Sharing only OPEN ANALYTICS PLATFORM STRATEGY BUSINESS INTELLIGENCE/ REPORTING USER RESEARCH FUNCTIONS A/B TESTING MACHINE LEARNING VETTABLE, TRUSTWORTHY INSIGHTS
  21. Intended for Knowledge Sharing only Quick recap of what it

    is Intended for Knowledge Sharing only Tactical Approach
  22. FOUR DIMENSIONS OF SUCCESSFUL EXECUTION 24 PEOPLE • Jack of

    all allied trades: Data->Analysis/Testing/Research->Insights->Recos • Networking aka Catch the customers when they are comfortable • Industry contribution/peer learning • Rotational SME Model: Hybrid of Embedded & Centralized Analytical structure • Big Picture & Connect the dots Mindset: Outsider perspective • Non Analytics mentorship PROCESS • Iterative Learning & Co-development of Analytics • Customized Delivery • “Operationalize” the standard analytics: To focus on next big thing • Innovation & Company Knowledge Sharing: • Encourage Shadow IT but come up guidelines for absorption • Not only Business Objectives but also Learning Objective Focused • 90-10 formalized • Analyze the “Analytics” function and improve TECH • Extensible, Modular & Dynamic Technology Framework • Enable customers to engage with insights and get some questions answered themselves • Available everywhere, every time in the form you need CULTURE • Business Enablement • Customer Needs Focused • Entrepreneurial
  23. SKEW TIME SPENT ON GENERATING RECOMMENDATIONS WITH STAKEHOLDERS Intended for

    Knowledge Sharing only 25 Objective 1 Analyst, Stakeholder Translation to Analytical Framework 2 Analyst, Researcher, Data Instrumentation, & Data Manager, Developer, Data Scientist Data Collection and Preparation 3 Analyst, Data Manager, Data Scientist Analysis, Validation & Verification 4 Analyst, Data Scientist, Stakeholder and SME, Researcher Actionable insights and impact sizing 5 Analyst, Stakeholder, Leader A/B Testing 6 Analyst, A/B Testing, Stakeholder, Developer Rollouts 7 Stakeholder, Leadership & Executives Responsible Steps
  24. KEY CHARACTERISTICS OF AN ACTIONABLE INSIGHT Intended for Knowledge Sharing

    only Specific answer to the question Easy to understand Timely & available (whenever, wherever & however needed) Trustworthy & reliable Scalable & Repeatable
  25. CUSTOMIZED DELIVERY FRAMEWORK Intended for Knowledge Sharing only “In mail”

    Recommendations with supporting graphs, tables, etc. “Story Deck” Full deck with the pitch and supporting arguments, numbers, graphs, charts “On-the-go” -Mobile App, On the Cloud, Subscriptions -Reports, Dashboards, Infographics Algorithm/Model Ready to be deployed How to decide? Customer needs; Turnaround Speed; One time/reuse; Deployment on Front end; Strategic Doc; Quick read/research doc 27
  26. BIG TRENDS TO TAKE NOTE OF Nature of questions have

    drastically changed Audience has broadened (A numbers middle man -> Front line Managers) Luxury of time has evaporated Explosion of data sources and the corresponding technologies to handle them Consumption channels are evolving 28 KPI of Analytics has changed from Turn-Around-Time (TAT) to Time-to- Action (TTA)
  27. Intended for Knowledge Sharing only Quick recap of what it

    is Intended for Knowledge Sharing only Putting it all together
  28. SUMMARY 30 • “Know” that Analytics can be the “Value

    Multiplier” instead of “Value Adder”. • “Must have” Business enabler mindset. • “Ensure” Deeper Stakeholder involvement in the development. Test & Learn approach must. And be ready to modify if needed. • “Develop” User Experience Design mindset. • “Prepare” for ever more increasing dependencies from Analytics and other stakeholders.
  29. Intended for Knowledge Sharing only Quick recap of what it

    is Intended for Knowledge Sharing only Appendix
  30. THANK YOU! Intended for Knowledge Sharing only Would love to

    hear from you on any of the following forums… https://twitter.com/decisions_2_0 http://www.slideshare.net/RamkumarRavichandran https://www.youtube.com/channel/UCODSVC0WQws607clv0k8mQA/videos http://www.odbms.org/2015/01/ramkumar-ravichandran-visa/ https://www.linkedin.com/pub/ramkumar-ravichandran/10/545/67a RAMKUMAR RAVICHANDRAN 32