Turning Data Into Dollars

Typically when we think of company data, we think of doing analyses and compiling reports to make internal decisions. What if that same data could be shared with customers in a way that was easily understood and more valuable than any report or extract?

Transcript

1. Copyright © 2016 by Juice Inc. Turning Data into Dollars
   Juice Analytics
   
2. Copyright © 2016 by Juice Inc. 1. Data as a product 2. Data meets audience 3. Designing a data product 4. Launching a data product 4 Steps to Data Monetization
3. Copyright © 2016 by Juice Inc. TOPIC 1 DATA as a PRODUCT
4. Copyright © 2016 by Juice Inc. Competing on Analytics (Analytics 1.0)
5. Copyright © 2016 by Juice Inc. Research report Internal External Static summary Interactive Target audience... Delivered as... Reporting Dashboards Data products Interactive, web-based solutions sold independently or delivered as part of another solution. Web based Feature-rich Solve specific problems Data products vs. traditional analytics
6. Copyright © 2016 by Juice Inc. New product Product enhancement Indirect revenue Direct Revenue Covert Overt Not one size fits all
7. Copyright © 2016 by Juice Inc. US News: Direct Revenue
8. Copyright © 2016 by Juice Inc. LinkedIn: Indirect Revenue
9. Copyright © 2016 by Juice Inc. ADP: Indirect Revenue
10. Copyright © 2016 by Juice Inc. TOPIC 2 DATA meets AUDIENCE
11. Copyright © 2016 by Juice Inc. For Analysts For Consumers
12. Copyright © 2016 by Juice Inc. Be a tour guide
13. Copyright © 2016 by Juice Inc. Not just the immediate audience
14. Copyright © 2016 by Juice Inc. Benchmarks, Comparisons, and Context
15. Copyright © 2016 by Juice Inc. What’s this calculated metric? Make the data valuable
16. Copyright © 2016 by Juice Inc. Data Readiness Checklist Do you have rights to the data? Can the data be accessed in an automated fashion? Is there personal data that should be obscured? Can the data be presented at a level of summarization/ granularity that the audience will find most useful? Does the data need to be transformed to make it useful?
17. Copyright © 2016 by Juice Inc. Example: Predikto
18. Copyright © 2016 by Juice Inc. TOPIC 3 DESIGNING your data product
19. Copyright © 2016 by Juice Inc. Self-serve, not self- purposeful design leading to action fit users workflow guidance and storytelling form follows function right-sized socialize-able What goes into the design of a product?
20. Copyright © 2016 by Juice Inc. Consider Degree of Difficulty
21. Copyright © 2016 by Juice Inc. “I’ll get right on that” “good to know” “neat” Interesting < Useful < Actionable Design for action
22. Copyright © 2016 by Juice Inc. Provide Guidance
23. Copyright © 2016 by Juice Inc. 284 +4.5% v. last month -2.8% v. goal 0 100 200 300 400 Q1 2009 Q2 2009 Q3 2009 Q4 2009 Goal Actual in Q3 2009 the new “Vortex” marketing campaign drove new leads after a slow Q2 Apply Context
24. Copyright © 2016 by Juice Inc. Use Text
25. Copyright © 2016 by Juice Inc. Example: US Chamber of Commerce
26. Copyright © 2016 by Juice Inc. TOPIC 4 Launching a data product
27. Copyright © 2016 by Juice Inc. Selling How will it be sold/distributed? What’s needed to help sell it? How will you explain it?
28. Copyright © 2016 by Juice Inc. Delivering How will user receive it? Who is delivering? How do we make delivery successful?
29. Copyright © 2016 by Juice Inc. Supporting Who will answer questions, comments, etc.? How will the product be maintained?
30. Copyright © 2016 by Juice Inc. “Data isn’t like kids you don’t have to pretend to love them equally.” Amanda Cox, NY Times
31. Copyright © 2016 by Juice Inc. Simplicity vs. Simple
32. Copyright © 2016 by Juice Inc. One Page Business Plan
33. Copyright © 2016 by Juice Inc. Example: The Essential Economy
34. Copyright © 2016 by Juice Inc. Data Product Examples DataSift - licenses data from Twitter to aggregate, process and deliver social data to enterprises about their brands. ADP - provides a monthly snapshot of U.S. nonfarm private sector employment based on actual transactional payroll data Payscale.com - links individuals and businesses to the largest salary profile database in the world. Glassdoor.com - Influence job seekers at the moment they are making the decision whether or not to work for you Indeed.com - Reports for economic forecasting or stock trading models. Compete.com - compare publishers to buy the most efficient traffic Alexa.com - compare publishers to buy the most efficient traffic Quancast.com - compare publishers to buy the most efficient traffic Zillow.com - Home values (real and estimated) for all houses in US ProjectHoneyPot.org - Black lists of IP addresses or email addresses used in fraud, Botnet activity or forum spam. FICO - Selling scores, such as click scores or any other scores. FICO was one of the first companies to do so. Skift - provide you with the latest intelligence on travel trends. SuperData Research - Data-driven market intelligence on online, mobile and digital games Factual - Data on over 600,000 consumer packaged goods in a UPC centric database with ingredients and nutrition information
35. Copyright © 2016 by Juice Inc. Additional reading 1. Data Jujitsu by DJ Patil. 2. The evolution of data products by Mike Loukides. 3. John Foreman blog - MailChimp data scientist 4. Juice Analytics.com Product Manager’s Checklist
36. Copyright © 2016 by Juice Inc. Our B2B clients (from start-ups to Fortune 500) have launched profitable products with our design and technical guidance Design and launch data products Fruition: Data Product Platform Data visualization components designed for non-technical end-users Features for sharing and collaborating on data insights and analysis A decade of guiding businesses through the process of designing, creating and launching new data products Recognized thought leaders On Amazon About Juice Analytics
37. Copyright © 2016 by Juice Inc. Our perspective A decade of working with businesses who wonder: “How can I get more value from my data?” • Web dashboards • Visualizations • Analytical tools We work with great companies!
38. Copyright © 2016 by Juice Inc. Thank you @juiceanalytics info@juiceanalytics.com