Turning Data into Dollars

Copyright © 2015 by Juice Inc.

Turning Data into DollarsJuice AnalyticsDecember 2015


Turning Data into DollarsJuice AnalyticsDecember 2015


1. Data as a product

2. Data meets audience

3. Designing a data product

4. Launching a data product4 Steps toData Monetization


TOPIC 1DATA as a PRODUCT


Competing on Analytics (Analytics 1.0)


salesmarketing

operationsfinance

suppliers

partners

customersExtended enterprise

Enhanced solutions

New data products

Analytics 1.0

the organization

Analytics 3.0

Turning data inside out

Copyright © 2015 by Juice Inc.(1) The big-data revolution in US health care: Accelerating value and innovation, April 2013, McKinsey & Company

McKinsey & Co. “$300B to $450B in annual cost savings can be achieved through data applications in healthcare (1)”

The Data Product Market


Research report

Internal External

Static summary

Interactive

Target audience...

Delivered as...

Reporting

Dashboards

Data productsInteractive, web-based solutions sold independently or delivered as part of another solution.

Web basedFeature-rich

Solve specific problems

Data products vs. traditional analytics


Covert

NewProduct Extensio

n

Data Product Categories

IndirectRevenue


US News: Direct Revenue


Volume

LinkedIn: Indirect Revenue


ADP: Indirect Revenue


TOPIC 2DATA meets AUDIENCE


For Analysts For Consumers


Be a tour guide


The Larger Audience


Benchmarks & Comparisons


Calculated metrics

Make the Data Valuable

3rd party data sources “mashups”Predictive modeling


Do you have rights to the data?

Is there personal data that should be obscured?

Can it be presented at a level of summarization/granularity that the audience will find most useful?

Does the data need to be transformed to make it useful?

Data Readiness Checklist


Example: PrediktoDelivering predictive analytics to maintenance workers

pre


TOPIC 3DESIGNING your data product


Self-serve, not self-solve

purposeful design fit users workflow

form follows function right-sized

What goes into the design of a product?


Volume

Degree of Difficulty


“I’ll get right on that”

“good to know”“neat”

Interesting < Useful < Actionable

Design for Action


284 +4.5% v. last month-2.8% v. goal

Q1 2009 Q2 2009 Q3 2009 Q4 20090

100

200

300

400Goal Actual

in Q3 2009the new “Vortex” marketing campaign drove new leads after a slow Q2

Apply Context


Use Text


Example: US Chamber of Commerceself service data for site managers


TOPIC 4Launching a data product


Volume

Selling

How will it be sold/distributed?

What’s needed to help sell it?

How will you explain it?


Volume

Delivering

How will user receive it?

Who is delivering?

How do we make delivery successful?


VolumeSupporting

Who will answer questions, comments, etc.?

How will the product be maintained?


Volume

Simplicity vs. Simple


Example: The Essential Economymanual labor workforce data for economic development agencies


DataSift - licenses data from Twitter to aggregate, process and deliver social data to enterprises about their brands.ADP - provides a monthly snapshot of U.S. nonfarm private sector employment based on actual transactional payroll dataPayscale.com - links individuals and businesses to the largest salary profile database in the world. Glassdoor.com - Influence job seekers at the moment they are making the decision whether or not to work for youIndeed.com - Reports for economic forecasting or stock trading models.Compete.com - compare publishers to buy the most efficient trafficAlexa.com - compare publishers to buy the most efficient trafficQuancast.com - compare publishers to buy the most efficient trafficZillow.com - Home values (real and estimated) for all houses in USProjectHoneyPot.org - Black lists of IP addresses or email addresses used in fraud, Botnet activity or forum spam.FICO - Selling scores, such as click scores or any other scores. FICO was one of the first companies to do so.Skift - provide you with the latest intelligence on travel trends.SuperData Research - Data-driven market intelligence on online, mobile and digital gamesFactual - Data on over 600,000 consumer packaged goods in a UPC centric database with ingredients and nutrition information

Data Product Examples


Our B2B clients (from start-ups to Fortune 500) have launched profitable products with our design and technical guidance

Design and launch data

products

Juicebox:Data Product

PlatformData visualization components designed for non-technical end-users

Features for sharing and collaborating on data insights and analysis

A decade of guiding businesses through the process of designing, creating and launching new data products

Recognized thought leaders

On Amazon

About Juice Analytics


Thank you@juiceanalytics

[email protected]

mailto:[email protected]

Data & Analytics

Turning Data into Dollars