Moving beyond numbers

Intended for Knowledge Sharing only

Analytics, Moving beyond Numbers

Monetize Data – Real Insights in real-time

Sep 2015


Disclaimer: Participation in this summit is purely on personal basis and not representing VISA in any form or matter. The talk is based on learnings 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


Quick recap of what it is


Analytics -> “Decision making business”

NEITHER ACTIONABLE, NOR INSIGHT!


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"

EXPECTATIONS ON TYPE OF INSIGHTS ARE CHANGING FROM THESE…


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

EXPECTATIONS ON TYPE OF INSIGHTS ARE CHANGING FROM THESE…


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.

8

MULTIPLE VALUE PROP OF ANALYTICS


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?




What do we need for this?

WHAT DO WE NEED FOR THIS?


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




The Strategic View

CORPORATE STRATEGY

LEAN ANALYTICS – ALIGNED TO STRATEGIC GOALS


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

CORPORATE STRATEGY- AN ILLUSTRATIVE EXAMPLE


Define Strategy for the Business and create metrics to monitor progress against Strategic Goals…

1.Expand the Patient user basea. Awareness and Considerationb. Sign-up Channel performancec. Geo Performance

2.Ensure Top Quality Care for Patients

a. #Patients visiting hospitalsb. Actual usage of Preventive initiativesc. #Return visits per Patientd. Feedback from Patients – Doctor, Care,

etc.e. Uptime of service availability

3.Return per Patienta. Cost of service per Patientb. In Hospital Stay vs. On-call treatment

optionsc. Risk adjusted Premiumd. Availability

4.Expand Offeringsa. Research & Developmentb. Strategic Tie-upsc. Preventive Healthcared. Re-insurance

Current Month MoM (%) YoY (%)

HELPS LEADERSHIP MONITOR BUSINESS &

TAKE PROACTIVE ACTION/RAPID

RESPONSE

CORRESPONDING BUSINESS STRATEGY- ILLUSTRATIVE EXAMPLE


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 basea. Awareness and Considerationb. Sign-up Channel performancec. Geo Performance

2.Ensure Top Quality Care for Patients

a. #Patients visiting hospitalsb. Actual usage of Preventive initiativesc. #Return visits per Patientd. Feedback from Patients – Doctor, Care,

etc.e. Uptime of service availability

3.Return per Patienta. Cost of service per Patientb. In Hospital Stay vs. On-call treatment

optionsc. Risk adjusted Premiumd. Availability

4.Expand Offeringsa. Research & Developmentb. Strategic Tie-upsc. Preventive Healthcared. Re-insurance

CORRESPONDING FUNCTIONAL STRATEGY- ILLUSTRATIVE EXAMPLE


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 ActionETA

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




Outcome Focused Delivery Framework

TOP DOWN APPROACH


- Freeze KPIs at the highest level- Assign ownership of KPIs to BUs- Identify Key Levers, Drivers & Segmentse.g., KPI #1: Revenue Levers: UU*(Visits/UU)*(Clicks/Visit)*CPCDrivers:UU= Marketing & PRVisits/UU = Product/UED, etc. Segments: Region, Eng Segments, Product Type

OUTCOMEFOCUSSED

VIEW

REQUIRED DATA INSTRUMENTATION


- 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

THE DATA MANAGEMENT


- 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

FIRST LEVEL INSIGHTS


- 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

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

A CENTRAL OPEN ANALYTICS PLATFORM SHOULD DRIVE ALL INSIGHT GENERATION



STRATEGY

BUSINESS INTELLIGENCE/ REPORTING

USER RESEARCH

FUNCTIONS

A/B TESTING

MACHINE LEARNING

VETTABLE,TRUSTWORTHY

INSIGHTS




Tactical Approach

FOUR DIMENSIONS OF SUCCESSFUL EXECUTION

24

PEO

PLE

• 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

PRO

CESS

• 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

CULT

URE

• Business Enablement• Customer Needs Focused• Entrepreneurial

SKEW TIME SPENT ON GENERATING RECOMMENDATIONS WITH STAKEHOLDERS


Objective1 Analyst, Stakeholder

Translation to Analytical Framework2 Analyst, Researcher, Data Instrumentation, & Data Manager,

Developer, Data Scientist

Data Collection and Preparation3 Analyst, Data Manager, Data Scientist

Analysis, Validation & Verification4 Analyst, Data Scientist, Stakeholder and SME, Researcher

Actionable insights and impact sizing5 Analyst, Stakeholder, Leader

A/B Testing6 Analyst, A/B Testing, Stakeholder, Developer

Rollouts7 Stakeholder, Leadership & Executives

ResponsibleSteps

KEY CHARACTERISTICS OF AN ACTIONABLE INSIGHT


Specific answer to the question

Easy to understand

Timely & available (whenever, wherever & however needed)

Trustworthy & reliable

Scalable & Repeatable

CUSTOMIZED DELIVERY FRAMEWORK


“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 doc27

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 themConsumption channels are evolving

28

KPI of Analytics has changed from Turn-Around-Time (TAT) to Time-to-Action (TTA)




Putting it all together

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.




Appendix

THANK YOU!


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

https://twitter.com/decisions_2_0










Date post:	15-Apr-2017
Category:	Data & Analytics
Upload:	ramkumar-ravichandran
View:	629 times
Download:	0 times

Moving beyond numbers

Data & Analytics