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Making Big Data Actionable. Big Data. Your Business. Where do you fit in and what does it all mean? Metrics. Measurability. Trackability. Statistics and Analysis. Discussion points for the presentation will include: - Big data and it's usage by worldwide companies and brands. - Showing you that adopting a "data first" methodology for marketing is easier than you may think. - Show you how you can group data together to get achieve a useful amount (a statistical quorum). - Help you to identify when you have the right data to make marketing decisions for you and/or your clients. - Show you how to look at the data in multiple ways to make the best and most informed marketing decision. - Explain how to adapt and reevaluate your marketing decisions after each decision is made and new data is available. About the Speaker: Daniel Scala uses big data at the core of his marketing decision making process. This "data first" methodology enables him to drive excellent results for advertisers of all sizes. These advertisers include worldwide brands such as: Coca-Cola, Williams Sonoma Group, NBC Universal, the Orlando Magic, Ann Taylor, and many others. Daniel was a Senior Marketing Strategist at Channel Intelligence which was acquired by Google in February, 2013. Currently Daniel is a managing partner at agency THE, a Performance-Based Creative Agency based in Orlando, FL.
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Big Data in the Driver’s Seat:Leverage data best to improve your direct marketing efforts
Daniel Scala
Intro to our Speaker
Introducing Daniel Scala – Today’s speaker!
Big Data in the Driver’s Seat:Leverage data best to improve your direct marketing efforts
Goals of Today’s Big Data Presentation:
Goals of Today’s Presentation
Help you to:
• Understand Big Data• Teach and help you to develop an
action plan to make data the core of your marketing decisions
Big Data
Intro to Big Data – Let’s Define It
True “Big Data” is usually used by large companies, and could be considered a unreachable resource for smaller businesses.
Big Data – Fundamentally the term is referring to the collection of huge datasets that can be very complex. The collection of “big data” is beyond the ability of traditional database management tools. A number of algorithms have as such been developed to capture, store, and index data.
This may seem daunting, but not to worry we’ll make sure you can use data in your marketing decisions.
Worldwide Brands and Companies that are Big Data Focused
Big Data Usage by Worldwide Companies
Two of the biggest brands in the world and names in advertising are Big Data centric companies.
Both Google and facebook – leverage their big data platforms to maximize their ad revenues.
You and Data:A Match Made in Heaven for Any Marketer!
Go Big with Data!
How Can You Make Data BIG for You?
Few businesses will have access to huge volumes of data like a facebook or Google.
So – What can you do?
Not just facebook and Google can have their businesses benefit from data. Why not make your marketing decisions based on the data that IS available to you?
The Truth Lies in the Data!
Using a Data-First Marketing Methodology
Here are the 6 steps to a Data-First Methodology:
1. Determine a high-level trackable marketing goal
2. Determine what data you need to have to assist you in achieving this goal.
3. Identify where you acquire the data.
4. Plan for your data storage.
5. Remove anomalies in your data.
6. Group similar data together – until you have enough data to make a decision.
Pick a Goal
Step 1 - Goal Identification
The choice is yours to pick your goal. Just make sure that it is something that can be tracked and measured.
• Increased sales?•New customer acquisition?
Data Points
Step 2 - Define Your Needed Data Elements
Based on your goal what data do you need?
•Conversion Rate?•Total Sales?•Open Rate?• Interaction/Response Rate?
Data Acquisition
Step 3 - Go Get It! - Acquire your data
Where can you get these data points from?
If you can get all of them from digital campaigns – great.
If you can’t then think creatively!
Store Your Data
Step 4 - Put Me Away! – or so your data is telling you
Few can afford or are willing to incur the expense of a complex data storage and indexing system.
Don’t shake your head at Excel – it’s more powerful than you may realize!
Purge Data Anomalies
Step 5 - Get Outta There! – get rid of data anomalies
Remember, that one day, you had 4x your normal sales because you ran a 50% off promotion…
Grouping Data by Geography
Step 6 - Group the Data! – 1st Grouping
Pick a way to group similar data together and create a pivot table based on it. In our case we summed:
•Number of Visitors•Number of Conversions•Value of Conversions
Grouping Data by Hour of the Day
Step 6 - Group the Data! – 2nd Grouping
It’s time to create another view into your/our data. This time we’ll group the data together by hour of the day….
•Number of Visitors•Number of Conversions•Value of Conversions
Grouping Data by Hour of the Day
Step 6 - Group the Data! – 3rd Grouping
It’s time to create another view into your/our data. This time we’ll group the data together by hour of the day….
•Number of Visitors•Number of Conversions•Value of Conversions
Relevant Data Grouping Sizes
Step 6 (part 2)- When is enough really enough? – Determine how much you need for statistical relevance
Now that you’ve group your data together in several ways are you ready to make your marketing decisions yet?
First we need to ensure you have enough data to be statistically relevant.
Time to Decide What Actions to Take
Analyze your data and make your decisions
Use your grouped together data to find areas in the data where you have enough data to make definitive decisions.
Summary
Summary and Key Takeaways
A data-first marketing methodology if executed properly WILL increase your return and your revenue.
Stick to the relevant steps weekly to make your marketing decisions:
- Acquire data
- Store data
- Group the data
- Make decisions based on the data
Questions?
Big Data in the Driver’s Seat:
Leverage data best to improve your direct marketing efforts
Daniel [email protected]
321.356.4934
