Date post: | 02-Jul-2015 |
Category: |
Data & Analytics |
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Getting value out of your data
Kevin Pak
What does a data scientist do?
Get value out of your data
Where do we stand?
Example Cases
Dynamic Pricing
Dynamic Pricing Process
Price
Optimization
Observe
Sales
Demand
Forecast
Google Adwords
Google Adwords Bid Optimization
0
0,5
1
1,5
2
2,5
0 0,2 0,4 0,6 0,8 1 1,2
0,15
0,2
0,25
0,3
0,35
1 1,2 1,4 1,6 1,8 2
0
20
40
60
80
100
120
140
0 100 200 300 400
€ 1.000-
€ -
€ 1.000
€ 2.000
€ 3.000
€ 4.000
€ 5.000
€ 6.000
€0
,10
€0
,20
€0
,30
€0
,40
€0
,50
€0
,60
€0
,70
€0
,80
€0
,90
€1
,00
Costs
Revenue
Profit
Conversion Attribution
Statistical Conversion Attribution
Tools in
the market
Statistical
approach
You provide the weight for frequency, time on site,
recency, page views, etc.
The tool attributes the conversions to the channels
according to the weights you provided
self fulfilling prophecy, no real insights
Statistically determine each channel’s true contribution based on all observed visitors paths.
data driven insights
Media Mix
0%
10%
20%
30%
40%
50%
60%
70%
Actual 2011
Model 2011
Media Mix Optimization ef
fect
iven
ess
0
€ -
€ 2.000.000
€ 4.000.000
€ 6.000.000
€ 8.000.000
€ 10.000.000
€ 12.000.000
€ 14.000.000
€ 16.000.000
€ 18.000.000
€ 20.000.000
€1
00
.00
0
€2
50
.00
0
€4
00
.00
0
€5
50
.00
0
€7
00
.00
0
€8
50
.00
0
€1
.00
0.0
00
€1
.15
0.0
00
€1
.30
0.0
00
€1
.45
0.0
00
€1
.60
0.0
00
€1
.75
0.0
00
€1
.90
0.0
00
€2
.05
0.0
00
€2
.20
0.0
00
€2
.35
0.0
00
€2
.50
0.0
00
€2
.65
0.0
00
€2
.80
0.0
00
€2
.95
0.0
00
€3
.10
0.0
00
€3
.25
0.0
00
€3
.40
0.0
00
€3
.55
0.0
00
€3
.70
0.0
00
€3
.85
0.0
00
€4
.00
0.0
00
€4
.15
0.0
00
€4
.30
0.0
00
€4
.45
0.0
00
Media spend
Visits
Margin
Profit
Integration is the trend
Price
Adwords
Conversion
Attribution
Profit
Media
Capacity
Price
How do you get there?
One step at a time
Workshop Data
collection
Data
analysis
Proto-
typing
Proof Of
Concept
With the right people
Statistics & Math
IT Business
With the right data
Where are you?
Source: Competing on Analytics, Davenport