Communication in Analytics

The title itself says Communication, means communicating language in analytics world that drives us to the correct path of efficient data in return. The ideas and findings are often complex but yet surprising and also subtle. These qualities can make them challenging to communicate, regardless of the audience. On the other hand, analysts have a great deal of freedom over the manner in which they communicate ideas and findings – some overarching, general principles can help analysts make decisions in this regard.

Skillset Example

Analytics on its self revolves around the communication of patterns in data. Someone with huge analytics skill like mining and/or interpreting data without the ability to communicate it across have only achieve part of analytics. Analytics will not be complete until it is adequately communicated to the end users.  Let's go further into the practical, if a data scale scientist had gathered information/data, and interpreted it; He has responsibility to communicate this across to the people that need the information. For instance, if a data scientist observe a pattern of huge "bounce off" on your website and you have interpreted this situation to be as a result of poor users experience on the website. It is important to communicate this to the web designer in order to create improve users experience. The communication will be a two way form; where the data scientist ensures that the web designer communicates his understanding to him as well.

For more information on Analytics, please visit https://haneenalansari.blogspot.com/2017/04/the-power-of-business-intelligence_24.html

Challenges in Social Media by Big Companies

One of my favorite company is Dell.  I would like to share about some interesting facts that I have come across when dealing with the social media statistics stuff with the high-end companies. Dell has made significant progress since launching its social media strategy in 2006. They are regarded as a pioneer who took the risk of exposing themselves to customer feedback which most often than not is negative, and was able to turn it into their strength. At this point, they need to continue to evolve their social media program by having a presence wherever their customers are.  For example, it is known that individuals aged 14-22 drive 70% of family computer-buying decisions. This demographic spends on average 6 hours a day on their phone digesting content. To appeal to this demographic, Dell should engage in social sites they visit such as Snapchat and Instagram or music apps such as Spotify or Tidal.

Concerning communication, most people communicate with each other via text on a regular basis. Perhaps Dell should create specific emoji’s, or bitmoji’s showcasing their brand and products. This would help take their awareness to the next level by fueling endless conversations and allowing Dell to stay top of mind with current and potential customers.

            Another step could be turning the tables on their social listening.  Currently, Dell uses all the listening being conducted to better themselves from a product and service perspective.  They use sentiment analysis to proactively solve customer issues and monitor consumer trends to assist in R&D. They also analyze their industry’s social stream to stay up to date on their competitors. This “listening” alone results in a higher “demoter to promoter” score which has led to increased customer loyalty, higher resolution rates which give them a competitive edge. Imaginably, Dell could create a podcast where customers could listen to Dell speak about technology and innovation and create a platform where there is 2-way communication for ideation.

Here pops up a new question.

Could Dell’s social media model be transferred to other companies? 

            Dell is one of the few Fortune 500 companies that have been early adopters of social media and have turned it into a viable source of sales. They have indeed evolved over the past ten years into a “Social Enterprise” and are currently one of the few companies that have gotten the social media marketing right.

 I believe their model should be transferred to other companies who should adopt the customer centric mentality. Dell has created a platform where they can tap into exactly what their customers want regarding service and product and deliver to meet those needs and expectations. Their “Social Outreach Services” group converts clients who come online to rant to ravers and mostly ambassadors of the brand.  The results of this effort are evident in their sales. 

       However, companies must keep in mind to successfully become a “Social Enterprise”, there needs to be a complete adoption from the company to support the social media initiative. In Dell’s case, the adoption of social media is top down. It starts with their CEO, Michael Dell, who is fairly active on social media and transcends to all of their employees globally. Dell employees are trained to use social media in every aspect of their job particularly technical support and customer care. The success is in the numbers since to date they have over 10,000 employees who are certified social media ambassadors.

This movement transcends to their customers who in turn for stellar service, promote and support Dell in their social networks. Social media has today become an extension of their brand since it allows them to be a better company by delivering first class products and solutions to their customers.  To date, few companies have been able to achieve this success and Dell can be seen as one of the world’s most social companies.

For more information on Analytics, please visit http://olgaazina.blogspot.com/2017/04/status-and-future-of-big-data-in.html
Source Case Study from Building a Social Media Culture at Dell by Michael Norris & Rohit Deshpande

Impact of Marketing Analytics

Today's world is revolving around numbers. How comfortable are we dealing with numbers? Are you afraid? Are you worried about the realms of the data story? If the answer is yes, then we have to roll-up our sleeves and stand for the solution. The relation between "Numbers-Data-Analytics" is obvious and are linked to each other. How P&G is constant in their customer satisfaction. Do numbers does magic? Yes, definitely, they do so.

This is a very big business, dealing with numbers, so-called Analytics. Technically, it is called Marketing Analytics. Companies are investing millions in just knowing about the numbers. According to the most recent CMO survey, companies currently spend 6.7% of their marketing budgets on analytics and expect to spend 11.1% over the next three years. The biggest brands plan on increasing their spending on the category by a whopping 73 percent over the next three years.  The most surprising fact is all the well-known brands are high in marketing technology and investing billion dollars in data analytics. 
Before, marketers used to think that why we have to look at the data. But after looking at the overall ROI, companies are fascinated looking for the data-driven stories. Yes, data tells the story of the customer relationship with the brand. And the same data allows the brand to iterate the techniques, test the results and apply the logic in dealing with the current competitive marketing world.

For more information on Analytics, please visit http://d-analysis.blogspot.com/2017/05/big-data-vs-data-analytics-vs-data.html

Data Visualization And Reporting

Data reporting translates raw data into information. And also, reporting is about organizing data into summaries. Data alone is meaningless, and action without data is baseless. Both reporting and visualization are important or vital to adding value to data and operation. When data reporting is accurate, it gives rise to the accurate analysis of the fact at hand. An accurate analysis is a result of a rigorous data analysis. Meaningful data visualization all starts from a comprehensive and accurate reporting.

Reporting plays important roles in web analytics, but organizations need to understand that reporting is just numbers. Without drawing insights and having report aligned with the big picture of an organization, decisions can’t be made based on reports alone. Data reported should be analyzed. Data analysis is the most powerful tool to bring into businesses.

Data visualization is one of the steps in analyzing data and presenting it to users. Data visualization refers to the model used to communicate information by encoding it as visual objects (e.g. points, lines or bars) contained in graphics. The aim is to pass information clearly and efficiently to users.

The main aim of data visualization is to pass information clearly and effectively through graphical means. An ideal visualization should communicate clearly, and also encourage viewer engagement and attention. Data visualization is vital in transforming business strategy to reality as it permits understanding where an organization or division needs to focus.

Significance of data visualization and data reporting

Data reporting provides the platform for organizing data into informational summaries in order to monitor how different areas of business are performing. Data visualization is a fast, simple approach to passing on ideas in a general way. It likewise helps to recognize ranges that need consideration or change.

  

How is data visualization used?

Regardless of industry or size, a wide range of organizations is making use of data visualization. Let us look at the below components about the main tasks it does,

Comprehend data rapidly

By utilizing graphical representations of business information, organizations can see a lot of data in clear, cohesive ways and draw conclusions from that information.

Identify connections and patterns

Even extensive amounts of complicated data start to make sense when presented graphically; organizations can perceive parameters that are profoundly correlated. Some of the correlations will be obvious, however, others won't. Recognizing those connections helps organizations concentrate on areas most likely to influence their most important objectives.

Pinpoint rising trends

Using data visualization to discover trends both in the business and in the market can give businesses an edge over the competition, and eventually influence the primary concern.

Tell the story to others

Once a business has revealed new bits of knowledge from visual analytics, what follows is to convey those bits of knowledge to others. Utilizing graphs, charts or other visually impactful representations of data is important in this step since it's engaging and gets the message across quickly.

Data Visualization Tools

Here, I will be talking about two of the available tools.

Tableau

Tableau offers a suite of tools that include an online, desktop and server version. All of these versions provide an easy-to-use drag and drop interface that can help you quickly turn your data into business insights. The online and server versions give the room for your entire team to build and work with the visualization tool. Like many other data analytics and visualization tools, Tableau can connect to local or remote data of different formats. Additionally, the Tableau engine can connect to live data for up to date visualizations.

QlikView

The QlikView business discovery platform is one of a few visual analytics tools offered by Qlik. QlikView can’t create the same elegant visualizations that the other tools offer, but the software’s dynamic model means that you can analyze your data quickly in multiple dimensions. QlikView is able to work with a wide variety of data sources, including SAP, Oracle, and other legacy data files like Excel spreadsheets. What’s more, QlikView can combine these disparate data sources into a single visualization.

For more information on Analytics and Big Data, please visit azina.blogspot.com/2017/04/status-and-future-of-big-data-in.html

Data Visualization

Data visualization is taken by many disciplines as a modern equipment of visual communication. The important objective of data visualization is to address data unmistakably and proficiently through statistical graphics, plots and graphics. The data that is in numbers is coded and decoded by utilizing dots  dots, lines, or bars, to visually impart a quantitative message. The interpretation of visualization helps users test and reason about data and proof. It makes complex data more available, reasonable and usable. Users may have specific analytical tasks, for example, comparing or understanding causality, and the design principle of the graphicfollows the task. In my point of view, tables are the most utilized version where users will look into a particular measurement, while charts of different sorts are utilized to show examples or connections in the data for one or more variables. Data visualization is however important in transforming business strategy to reality as it permits understanding where an organization or division needs to focus.

One of my Favorite tool is SAS Visual Analytics. SAS Visual Analytics empowers business users, business analysts, and IT administrators to accomplish tasks from an integrated suite of applications that are accessed from a home page. The central entry point for SAS Visual Analytics enables users to perform a wide variety of tasks such as preparing data sources, exploring data, designing reports, as well as analyzing and interpreting data. Most important, reports can be displayed on a mobile device or in the SAS Visual Analytics Viewer (the viewer). 

So, what is your favorite business Visual Analytics tool. Please do share your thoughts in comments.

Source: SAS Website

For more information on Business Analytics tools, please visit 

https://haneenalansari.blogspot.com/2017/04/how-can-federal-agencies-win-war-for.html

Web Analytics And Their Benefits

If you wаnt to knоw whо vіѕіtѕ уоur ѕіtе, whаt thеу do whіlе thеу аrе оn thеіr ѕіtе and whу thеу lеаvе, then уоu need tо bе соnсеrnеd wіth wеb аnаlуtісѕ. Wеb аnаlуtісѕ аrе еѕѕеntіаl іf уоu wаnt tо fіnd оut іnfоrmаtіоn аbоut реорlе whо vіѕіt your ѕіtе. Wеb аnаlуtісѕ can аlѕо hеlр уоu dеtеrmіnе whісh раgеѕ of your site аrе реrfоrmіng wеll and whісh оnеѕ аrе nоt. Lаѕtlу, wеb analytics hеlр уоu dеtеrmіnе whісh kеуwоrdѕ аrе drіvіng the mоѕt trаffіс to уоur ѕіtе. Thеrе аrе mаnу bеnеfіtѕ fоr wеb аnаlуtісѕ but below аrе thе tор 5 bеnеfіtѕ.

Bеnеfіt #1 - Trаffіс Cоunt

Hаvе уоu ѕееn соuntеrѕ оn thе bоttоm оf web раgеѕ thаt ѕhоwѕ hоw mаnу vіѕіtоrѕ have соmе tо уоur ѕіtе? Thе gооd thing аbоut wеb аnаlуtісѕ іѕ thаt уоu саn get muсh mоrе precise іnfоrmаtіоn. Yоu саn brеаkdоwn уоur visitors bу hоw mаnу аrе nеw vіѕіtоrѕ аnd how mаnу аrе rереаt vіѕіtоrѕ. Yоu саn аlѕо dеtеrmіnе whаt раgеѕ thеу have vіеwеd frоm уоur wеbѕіtе.

Bеnеfіt #2 - Indіvіduаl Vіѕіtѕ

Nоw thаt уоu knоw how mаnу vіѕіtоrѕ hаvе соmе tо уоur ѕіtе аnd whеthеr thеу аrе nеw оr rереаt visitors, you саn gаthеr іnfоrmаtіоn аbоut іndіvіduаlѕ thаt vіѕіt уоur wеbѕіtе. Fоr еасh реrѕоn that vіѕіtѕ уоur wеbѕіtе, уоu саn fіnd оut whаt wаѕ the fіrѕt раgе thеу vіѕіtеd аnd whаt wаѕ thе lаѕt раgе thеу vіѕіtеd рrіоr tо lеаvіng уоur ѕіtе.

Bеnеfіt #3 - Tоtаl Tіmе

Now thаt wе hаvе a gооd іdеа of thе vіѕіtоrѕ to оur ѕіtе, уоu would wаnt tо know thе total tіmе vіѕіtоrѕ аrе ѕреndіng оn уоur ѕіtе as wеll as thе раth they tооk thrоugh your site. Yоu саn use thіѕ іnfоrmаtіоn tо dеtеrmіnе hоw реорlе nаvіgаtе through уоur ѕіtе.

Bеnеfіt #4 - Vіѕіtоrѕ

Thе fоurth bеnеfіt оf wеb analytics іѕ that уоu can dеtеrmіnе thе lіnkѕ thаt brought уоur vіѕіtоrѕ tо your ѕіtе. Visitors еіthеr соmе tо уоur ѕіtе from ѕоmе оthеr lіnk оr thеу соmе directly to уоur ѕіtе.

Bеnеfіt #5 - Kеуwоrdѕ

Lаѕtlу аnd mоѕt іmроrtаntlу іѕ dеtеrmіnіng the kеуwоrdѕ thаt реорlе аrе uѕіng tо gеt tо уоur wеbѕіtе. If уоu dеtеrmіnе thаt visitors аrе uѕіng раrtісulаr kеуwоrdѕ tо fіnd уоur ѕіtе, thеn уоu wаnt tо орtіmіzе your site for thоѕе kеуwоrdѕ. Thіѕ іѕ grеаt орроrtunіtу to орtіmіzе уоur соntеnt tо whаt your vіѕіtоrѕ аrе looking for whеn thеу visit уоur ѕіtе.

Aѕ уоu саn ѕее, thеrе аrе mаnу bеnеfіtѕ оf wеb аnаlуtісѕ. Ultіmаtеlу, thе benefit оf Wеb Analytics іѕ tо mаkе уоur ѕіtе mоrе rеlеvаnt fоr уоur vіѕіtоrѕ.

Please do visit this blog on more insights on analytics: http://olgaazina.blogspot.com/2017/04/status-and-future-of-big-data-in.html

Web Analytics Implementation

In this digital marketing world, web analytics is not just a measuring tool for getting results of web traffic but also a very powerful tool for testing, analyzing the business and marketing research approaches. Website analytics is essential in optimizing your online presence, especially when entrepreneurs are not satisfied with just more visitors to their sites and demanding the return on investment (ROI) hence, there is the need of website analytical strategy and implementation.

For effective implementation of your web analytics, you need to understand what the analysis is and determine your business objectives; you have to understand the relevance of the information provided by your analytical program and consult other members of your team to ensure that the information supplied is effectively the information needed. Finally, after defining the specific needs of interdependence, defining the framework for the support and installing the tracking code, you need to test the implementation of the analysis.

Various analytical programs allow you to set the "test mode", while others allow you to block certain IP addresses or certain sources of traffic. Know your options before you installed the test and know their support options if the test phase does not produce the expected data. After successful implementation of website analytics, the current task will be to examine the data, use the ideas to improve your business and increase your income which is the general objective of web analytics.

Monetization of Analytics Data

Data is not just new because of its size; it is new because it is not possible to analyze it using common methods. Analytics are necessary to profile big data sets. For organizations to become proficient, they need to understand the personality of analytics. This would not happen without building analytical capacity. Analytics will smooth the way toward data monetization.

These days, a lot of people log on to the Internet, allowing organizations access to more engagement data. But if an organization does not have trained data analysts to modernize the way data is collected, stored, and analyzed regularly, there would not be any business rewards. Organizations are now eager to figure out how their business can be driven forward to create new strategies while increasing their income and growth by overcoming biggest dilemma associated with data monetization.

Among the major questions, they ask their service providers are around how they can trace the risks and investments needed to build a data monetization strategy. These organizations either struggle between understanding how to invest raw data for distribution and handling the sophistication around analytics or data processing.

In today’s digital world, data is more readily available and easily got, than before. With the potential to track most customer interactions and transactions across devices and channels, organizations are looking at and leveraging their data in new and innovative ways. And these companies are becoming increasingly mindful that they are sitting on massive amounts of under-utilized data and seeking ways to increase its value. The conditions for data monetization are ripe: large volumes of structured and unstructured data; lowering storage costs; data-driven advertising campaigns that create relevant customer experiences; and boosting business intelligence and processes by applying data analytics.

Analytics is currently making customers’ lives easier and building a more happy and loyal client base. It also allows organizations to maximize the variety and volume of their data, enabling them to conveniently access, enhance and de-identify data sets to be packaged as a new data service offering for their customers. In the absence of data analytics, organizations are actually blind and deaf, roaming out onto the internet like deer on a freeway. These words lay stress on the importance of analytics when it comes to helping decision-making and driving profits.

So, with this reliance upon analytics and data, monetization of data is no more an improbable reality. There is certainly still an excessive amount of unexplored information in customer feedback comments, video footage, conversations on the social media, and locational GPS data, which needs to be studied and put into use. Innovative and nimble approaches to applying analytics to data will surely bring in loyal customers as well as generate higher revenue without downturns.

Nevertheless, organizations seem to harbor many individual data stores thereby it hard to access data for monetization purpose. In the process of monetizing data, acquiring an external perspective is essential. Benchmarking of other organizations and effective data monetization approaches can help in framing new ideas and gaining valuable insights. Though, transforming data into actionable insights and generating new revenue streams is a challenge. However, data monetization has opened eyes to the idea of analytics as a strategic capability, beyond basic financial analysis, reporting, and basic marketing optimization.

Analytics has unveiled how incredible data deluge can be when tracked at the right time. In the long run, it all depends on how you are turning data into information, and information into insight. So, it is up to you, will you indulge data as an opportunity and invest, or will you allow it to go musty? Roll up your sleeves now and start planning a strategy and carving a vision around the monetization of data and analytics.

Marketing Analytics Scope

This blog focuses mainly on the analytics and data insights in the current marketing world. Marketing organizations are becoming more data-driven, and more focused on marketing analytics, digital attribution and big data in general. We concentrate on the current trends in the market about the development of better analytical tools used by the marketers. We will also deep dive into the job opportunities where many companies are specifically seeking to hire marketers with data and analytical skills and experience. How widespread is this trend now? Do you want to know? Seriously companies embracing analytics practice are backing up now with best hiring techniques. All these indications now point to a tectonic shift.

In July 2013, there were 23, 118 job postings that included analytics, marketing analytics. Now, the growth rate in marketing analytics increased to 67% over the past year and 136% over the past three years. Surprisingly, the number of jobs with “big data” as a requirement increased to 63%, so the marketing side even beats that.

Real World Scope

All of us are really afraid of numbers, but when it comes to business decisions, the whole business world revolves around the numbers and metrics where business leaders will come up with the new decision making firepower. Eventually, calls for a more sophisticated approach for the diverse activities and audiences that marketing dollars typically support along with the variety of investment time horizons. According to Mc Kinsey review, more than 400 diverse client engagements from the past eight years, across industries and regions, found that an integrated analytics approach can free up some 15% to 20% of marketing spending. Worldwide, that equates to as much as $200 billion that can be reinvested by companies or drop straight to the bottom line.

Please visit our blog every week for more insights on current analytics trend. 

References: http://www.mckinsey.com, www.forbes.com