- The document discusses transforming an analytics practice into an insights practice to better serve leadership and stakeholders with actionable insights.
- Currently, different groups like analytics, user research, and A/B testing answer different questions from leadership but are siloed, creating issues.
- The proposed Insights 2.0 framework aims to solve this by taking an outcome-focused strategy, enabling better data instrumentation and management, providing first level insights from vetted data, and opening an analytics platform for end users.
- Key considerations for success include strong executive support, business unit buy-in, clearly defined objectives and success criteria, and deep stakeholder involvement throughout the process.
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Transform your Analytics Practice into Insights Practice
1. Intended for Knowledge Sharing only
Transform your Analytics Practice into
Insights Practice
Business Analytics Innovation Summit 2015
Business Analytics Innovation Summit | January 2015
2. Intended for Knowledge Sharing only
INTRO
Intended for Knowledge Sharing only
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.
Help Executives/Product/Marketing with actionable insights
RAMKUMAR RAVICHANDRAN
3. Revamp Your Analytics Practice | Ramkumar Ravichandran
Is an Analytics team the only source of insights?
CURRENT
SCENARIO
Revamp Your Analytics Practice | Ramkumar Ravichandran
4. Intended for Knowledge Sharing only
CURRENT
SCENARIO
Intended for Knowledge Sharing only
Did the initiative work?
Where will be tomorrow?
What if we do this?
What can we do?
How do Customers feel
about us?
Where should we invest?
Different questions that the leadership has?
How are we doing today?
5. Intended for Knowledge Sharing only
CURRENT
SCENARIO
Intended for Knowledge Sharing only
Did the initiative work?
Where will be tomorrow?
What if we do this?
What can we do?
How do Customers feel
about us?
Where should we invest?
Who answers them?
How are we doing today?
BI
ANALYTICS
A/B TESTING
USER RESEARCH
STRATEGY
6. Intended for Knowledge Sharing only
CURRENT
SCENARIO
Intended for Knowledge Sharing only
Where do they all sit?
Machine
Learning
Strategy
Business
Intelligence,
Reporting
Business/
Advanced
Analytics
User
Research
A/B
Testing
STRATEGY
ANALYTICS PM
UED
IT / TECHNOLOGY
MKTG & PR
7. Intended for Knowledge Sharing only
CURRENT
SCENARIO
Intended for Knowledge Sharing only
Is that really a problem?
The big boss!
“Zuck” era PM
“King”y Sales
“Underpaid, Overworked,
never allowed to speak”
Analytics Guy
https://www.youtube.com/channel/UCODSVC0WQws607clv0k8mQA/videos
8. Intended for Knowledge Sharing only
CURRENT
SCENARIO
Intended for Knowledge Sharing only
So the problems were,
Inconsistent (and/or conflicting) definitions of data and numbers
Varying granularities
Multiple methodologies
Different BU = (different KPIs or same KPIs different priorities)
Lack of visibility/understanding outside of the BUs
“Slow & inefficient, Non-scalable, Difficulties
rolling up, Trust issues, Cascading mistakes”
9. Intended for Knowledge Sharing onlyIntended for Knowledge Sharing only
INSIGHTS 2.0 FRAMEWORK
How can we solve this?
10. Intended for Knowledge Sharing onlyIntended 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
STRATEGY
Formulate Outcome Focused Strategy
INSIGHTS 2.0 FRAMEWORK
11. Intended for Knowledge Sharing onlyIntended 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
Enable data capturing necessary for OF execution
INSIGHTS 2.0 FRAMEWORK
12. Intended for Knowledge Sharing onlyIntended 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
Framework & active management of data
INSIGHTS 2.0 FRAMEWORK
13. Intended for Knowledge Sharing onlyIntended 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
First level insights from the vetted data for Certification
INSIGHTS 2.0 FRAMEWORK
14. Intended for Knowledge Sharing onlyIntended for Knowledge Sharing only
OPEN ANALYTICS PLATFORM
Open it up to empower end users, but set them up for success with…
• 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
INSIGHTS 2.0 FRAMEWORK
15. Intended for Knowledge Sharing onlyIntended for Knowledge Sharing only
Stakeholders Needs
Reports, Insights
& OF Drilldowns
Datamarts Documentation
Communication &
Guidelines
Executives
- Reports
- High level
drilldown
- Unified summary
- “On the go*”
Marketing
- Campaign
performance
- Infographics
- Deep dives
- Testing
Sales / RM
- Sales performance
- Prospecting
- Competitive
- Infographics
Product
- Product
performance
- Deep dive
- Mining
- Testing
- Research
Technology / AE /
Operations
- Platform
performance
- Deep dive
- Forecasting
- Real time alerting
FP & A
- Consolidated
Initiative readouts
(E2E)
- Deduping
- Drill downs
- Forecasting
…and “tailoring the delivery” to the specific Stakeholder needs
INSIGHTS 2.0 FRAMEWORK*”On the go” delivery channels (Cloud and On-Mobile) are default for everyone
16. Revamp Your Analytics Practice | Ramkumar Ravichandran
Things to keep in mind
Revamp Your Analytics Practice | Ramkumar Ravichandran
THINGS TO KNOW
17. Intended for Knowledge Sharing onlyIntended for Knowledge Sharing only
STRENGTHS
OPPORTUNITIES
WEAKNESSES
THREATS
• Reliable insights
• End-to-end visibility
• Roll-up to Corporate level
• Quicker turnaround
• Scalability
• Clearly defined roles, responsibilities,
success criteria & time lines
• Ownership to stakeholders in
planning and execution
• Value Prop document needed
• Train/borrow BU Analysts
• “Don’t bite off more than you can
chew”
• Stakeholders fear of losing control
• Too many urgent problems today
• Required resourcing
• Long term goal that require patience
• Constantly evolving landscape
provides new challenges
THINGS TO KNOW
Is it all promises, no fears?
18. Intended for Knowledge Sharing onlyIntended for Knowledge Sharing only
Executive support
THINGS TO KNOW
Absolute must haves for it to succeed...
...and lots of patience, attention to detail and keep pushing mindset.
Business Unit mindset ( implement the relevant best practices from other functions)
Stakeholder buy-in, support, strong advocacy & deep involvement
Clearly defined and communicated objectives with accepted success criteria
19. Intended for Knowledge Sharing onlyIntended for Knowledge Sharing only
THINGS TO KNOW
More on the “Deep” Stakeholder involvement...
Objective1 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 Testing6 Analyst, A/B Testing, Stakeholder, Developer
Rollouts7 Stakeholder, Leadership & Executives
ResponsibleSteps
20. Intended for Knowledge Sharing onlyIntended for Knowledge Sharing only
Strategic Objectives Success Criteria Action Plan
Stakeholder driven insights
- Adoption and repeat usage
- Reduced adhoc requests
- Referrals
- Involve early on
- Iterative feedback
- UAT sign-off
Fast, scalable
- Reduced turnaround time
- Reused by different users
- Take PM help in tracking /
analyzing insight generation
process
Trustworthy - Reduced reconciliation time
- Strong documentation
(mandatory requirement)
Easy to understand and use
- User Research
- Reduced adhoc requests
- UED experts
Anytime, anywhere, and anyone
(if you earned it)
- Reduced adhoc requests
- User feedback
- UED and Technology / Tool
experts
THINGS TO KNOW
More on the Success Criteria for the execution...
21. Intended for Knowledge Sharing onlyIntended for Knowledge Sharing only
THINGS TO KNOW
More on the BU Mindset (learn from best practices of others)...
Strategy
Development
UED
User Research
Project
Management
Sales
CRMs
Outcome Focused Prioritization (Big picture), Balance
Scorecard monitoring, Future proofing
Right selection (Agile vs. CDP), Kanban, MVP, Lean
Story telling, customizing insights/delivery by audience
Feedback/learning and act on what you learn
What worked vs. what did not? Sticking to Roadmap, how
to speed up/delegate? Communication/Analysis, PPPs, etc.
How to sell/negotiate/close/prospect? Manage difficult
Stakeholders
Serving Stakeholders the best and “wow”ing them
From whom? and learn what?
22. Intended for Knowledge Sharing onlyIntended for Knowledge Sharing only
CONTACT
THANK YOU!
We’d love to hear from you.
Ramkumar Ravichandran