Transform your Analytics Practice into Insights Practice

Intended for Knowledge Sharing only

Transform your Analytics Practice into Insights Practice

Business Analytics Innovation Summit 2015

Business Analytics Innovation Summit | January 2015


INTRO


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

Revamp Your Analytics Practice | Ramkumar Ravichandran

Is an Analytics team the only source of insights?

CURRENTSCENARIO



CURRENTSCENARIO


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?


CURRENTSCENARIO


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?

BIANALYTICS

A/B TESTING

USER RESEARCH

STRATEGY


CURRENTSCENARIO


Where do they all sit?

Machine LearningStrategy

BusinessIntelligence, Reporting

Business/ AdvancedAnalytics

User Research

A/B Testing

STRATEGYANALYTICS PM

UEDIT / TECHNOLOGY

MKTG & PR


CURRENTSCENARIO


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


https://www.youtube.com/watch?v=LL9em2K_-0U&feature=youtu.be



CURRENTSCENARIO


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”

Intended for Knowledge Sharing onlyIntended for Knowledge Sharing only

INSIGHTS 2.0 FRAMEWORK

How can we solve this?

INSIGHTS 2.0


- 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

OUTCOMEFOCUSSED STRATEGY

Formulate Outcome Focused Strategy



- 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



- 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



- 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



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



Stakeholders NeedsReports,

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


*”On the go” delivery channels (Cloud and On-Mobile) are default for everyone


Things to keep in mind


THINGS TO KNOW


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?


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


THINGS TO KNOW

More on the “Deep” Stakeholder involvement...

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


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...


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?


CONTACT

THANK YOU!We’d love to hear from you.

Ramkumar Ravichandran

https://www.linkedin.com/pub/ramkumar-ravichandran/10/545/67a

https://www.linkedin.com/pub/ramkumar-ravichandran/10/545/67a

http://www.slideshare.net/RamkumarRavichandran

http://www.odbms.org/2015/01/ramkumar-ravichandran-visa/


Data & Analytics

Transform your Analytics Practice into Insights Practice