airiq -- a personal analytics startup i created in 2011-2012
DESCRIPTION
This is the VC and angel investment for "AirIQ" -- the personal analytics startup I created in 2011-2012. I did receive initial angel funding, was seeking Series A, when I decided to put the company and the product on-ice, in the wake of personal family needs, and the fact that Contactually was doing such a great job.TRANSCRIPT
AirIQNed Hayes
2012
I’ve led data analytics product teams at
Adobe Advanced Technology Labs+
4 startups focused on
text analytics + machine learning
GlobalPlanIT, Kiha
TeleTrust, Meshin @ PARC
Key Insight:
data analytics startups
analyzingmountains of data
our team sees the detailed scoring of user data
but the users don’t see the analytics.
Why not?
Personal AnalyticsBENEFITS
• Drives behavior (for the individual)
• Measures behavior (for the business)
• Produces bottom-line results
Numbers Matter
Personal Finance Measurement
Health Measurement
Numbers Matter
Online “Friends”
Politics: Numbers Matter
Personal Analytics• Can drive behavior (for the individual)
• Measure behavior (for the business)
• Produce bottom-line results
• We have no personal analytics on our daily communications
What if we did?
Use CaseThat guy is a 97.
He’s only a 22 for me.
Who are these people to you?
9184
6649
Maybe the people who really matter AREN’T the ones who stand out in a
crowd
981671
22864235 9886
99
Your Numbers Matter
Critical Information in the Numbers
• What’s your response rate to incoming email?
• Are you communicating with the most important people first?
• How fast are you in getting back to clients?
• How comprehensive is your coverage of your prospect / client / partner list?
• Who have you forgotten about this week?
• How can you be more effective?
• Who is wasting your time?
• Who needs your love?
• Numbers tell the truth.
Numbers Tell the TruthProblems We Solve
• INDIVIDUAL: How to know which emails / voice-mails were important? Which ones deserved a response?– Today’s Solution: Read them all.
• MANAGERIAL: Managers don’t know if their sales people are responding to the RIGHT people, or taking the right actions.– Bottom line impact on end of quarter numbers
What if we had a Number?• A NUMBER that aggregates all your
communications activities (keep it simple, clear)
• Over time, longitudinal tracking of activity
• Dynamically updates based on recent activity
Three Possibilities
Today’s activity (Jan. 4 between 8 a.m. and 5 p.m.)
1. CONTACT RATIO RANKING
BOEING (all contacts from this Company) is a (97) this week – 61 / 73 email & calls returned to this COMPANY
Jim Broadman is a (45) this week –30 / 60 emails & calls returned this week
Janet Stephens is a (22) this week –4 / 23 emails & calls returned this week.
Anne Washington is a (39) this week –12 / 24 emails & calls returned this week
Misia Tramp is an (89) this week – 54 / 61 email & calls returned to this PERSON
97
89
45
39
22
1. CONTACT RATIO RANKING USE CASE
That new client, Bob, is a 97
for me this week!
My boss is the only 97 for me! Bob can stay a 22 forever in
my book.
Today’s activity (Jan. 4 between 8 a.m. and 5 p.m.)
2. TOPICS / ACTIVITY METRICS
BOEING is a (90) this week – 61 email & calls made ABOUT THIS COMPANY
PROJECTX is a (53) this week –30 emails & calls made ABOUT THIS TOPIC
“PATH PLANNING” is a (15) this week –4 emails & calls made about this TOPIC.
AIRBUS INDUSTRIES is a (32) this week –22 emails & calls made ABOUT THIS COMPANY
“MSDN Global Sales” is an (84) this week – 56 email & calls made ABOUT THIS TOPIC
90
84
53
32
15
I’m tracking ProjectX at a 99. I’m all over the
account.
I’ve got two accounts that are lagging. I’m only a 16 on Airbus, and
42 on UW.
2. TOPICS / ACTIVITY METRICS USE CASE
Today’s activity (Jan. 4 between 8 a.m. and 5 p.m.)
15 Communications with Important People
45 Communications with Average People
2 Communications with Unimportant People / Timewasting Stuff
3. MANAGER TEAM METRICS – what my people did today
JOHN’SSCORETODAY
= 5555
981671
22865535 9886
3. MANAGER TEAM METRICS USE CASE See what my people did today / this week /
this month
Highest Communication
Performers
Highest Communication
Performers
Proof Points of Emerging Market
inPersonal Analytics
Klout• Measures social
influence (FB, Twitter)• Not very useful for actual work measurement
RescueTime • Measures desktop activity by checking which
applications are open. No communications.
Market is a Green Field(With Klout, we’ve only seen the beginning)
Klout – Social Media Scoring$100 Million Opportunity ? -- Proof of a Market for Personal Scores
RescueTime – Desktop Apps$500 Million Opportunity ?
$5 Billion Market ?
Personal Scoring of Vital Communications
& Daily Activity
Email, Phone Calls,
SMS and Other
ImportantActivities
Market is a Green Field(With Klout, we’ve only seen the beginning)
Klout – Social Media Scoring$100 Million Opportunity ? -- Proof of a Market for Personal Scores
RescueTime – Desktop Apps$500 Million Opportunity ?
$5 Billion Market ?
Personal Scoring of Vital Communications
& Daily Activity
Email, Phone Calls,
SMS and Other
ImportantActivities
Opportunity : Big Data Analytics
“One market which will be huge in 2012 is ‘Big Data’ – deriving business insights from
previously unmanageable amounts of data.” “Processing the data faster or combining the data to create better information represents an enormous opportunity for start-ups.”“EMC, IBM and HP have all recently announced massive investments in this area for 2012 — a
cue for talented entrepreneurs to invent and package products from Big Data.”
– Ron Conway, The Economist, Nov 17, 2011http://www.economist.com/node/21537967
We are entering an era of personal analytics where we can take control of our own data, display it in a dashboard, and use it to inform better life decisions.
– Wired.UK – Martin Blinder Intelligence Squared If Conference• http://www.wired.co.uk/news/archive/2011-11/28/martin-blinder-personal-analytics
Personal analytics will set the Analytics field on fire in 2012 and beyond.– Shawn Hessinger, All Analytics.com 12/21/2011
• http://www.allanalytics.com/messages.asp?piddl_msgthreadid=244247&piddl_invid=610&piddl_inviteepuserid=384604
Analytics has been largely restricted thus far to corporate life. A major growth area for the field lies in the personal realm. With Jim Wilson, a researcher at Babson, I’ve been researching and observing this area of personal analytics… it’s time to start writing about it.
– Thomas H. Davenport, All Analytics.com (Deloitte Analytics) • 12/19/2011 http://www.allanalytics.com/author.asp?section_id=1500&doc_id=236883
Emerging Opportunity: Market Research
Opportunity Validation• Who can validate this market further?
• Projected Initial Customers: Sales people– Have a real pain point (300 emails a day)– Understand the value of metrics (users of Klout)
– To check my hypotheses: I talked to 10 sales people, & have conducted a Focus Group around sales scenarios.
– A second Focus Group scheduled for later January.
What to Measure?What numbers do you need?
HYPOTHESIS: Contacts, Companies & Topics
CONTACTS•Frequency: Ratio of Correspondence with people•Velocity: Time to Correspondence with people
COMPANIES•Frequency: Ratio of Correspondence with companies•Velocity: Time to Correspondence with/about companies
TOPICS•Frequency: Ratio of Correspondence on specific TOPICS•Velocity: Time to Correspondence on specific TOPICS
Initial Validation(Video Clips)
http://nednotes.com/aroiq/AroIQ-Henry-smallmovie.mov http://www.aroiq.com/ Play clip at: Play clip at:
Takeaways• PROBLEM:
There’s a near-term opportunity: real pain point
• ADDRESSABLE:We can solve these pain points with the right mix of product, technology, customer engagement
• COMPETITION?No one else is solving it today for these customers – not Salesforce, not NetSuite, not SalesLogix, no one.
Why We can do this NOWPersonal Analytics• DATA-MINING TOOLS: Machine Learning / Semantic Analysis /
Data Analytics Engines have finally matured, and can be used reliably on very large data sets for actual learning of content and topics.
• LOW OVERHEAD: Open Source tools exist for crunching large data sets, including the terabytes of personal information. These tools have little cost to the team developing the apps.
• ACCESS TO DATA: Open Authentication (OAuth) allows quick and clean access to myriad sources of personal data, that can be accessed for analysis, and results shared back to individuals.
How to do this NOWPersonal Analytics ArchitectureUSERS: (Web App first)iPhone, Android, Web, Laptop Apps
Personal CommunicationsData Analysis
Accessed via OAuth,
IMAP
Web App
Hadoop / Mahout Cluster
Data Gathering / Crawler
Product Roadmap
Q3 2012Individual Activity Monitor
(for every consumer) – WEB APP
Q4 2012Individual Activity Monitor (DETAILED VIEW) – MOBILE
APPS, built more around professional use cases
Q1 2013Professional Team
Activity MonitorMADE AVAILABLE AS
ENTERPRISE SALES PACKAGE
FOR SALES ORGANIZATIONS& BIZ DEV ORGS
Sale
s, In
stal
l Bas
e, R
EVEN
UE
Time
Series A to build on
Install Base
Q1 2012 Q2 2012 Q3 2012 Q4 2012 2013 2014
Algorithm Development &
Testing of Numbers
Business ModelCompetitive
ResearchPitch Deck
Seed Funding
To Develop First Product
First Instance of Backend Server Designed, Built, Implemented
V1 PRODUCTGoal: Grow Install Base
“PRO” PRODUCT
for businessdelivered
Revenue Funded ?
Dev
Funding
Product AirIQ Timeline
Market InvestigationUser Studies
Prototype Developed, Tested with Customers
Complete Set of Products Delivered:
Web App, Server, Mobile Outputs
User InterfacePrototype Designed
Built, Tested
Working Together
Ned Hayes by the NumbersExperience, Knowledge, Insight, Ability
• 4 startups– Global PlanIT *– Kiha Software *– TeleTrust– Meshin *
• 2 Successful Exits (Global PlanIT + TeleTrust) – both sold to larger companies
• * 3 focused on large-scale text analytics
• 5 patents around Data/UX/Mobile
• 2 Kiha/Vulcan• 1 TeleTrust• 1 SoftQuad• 1 Meshin
• 15 years moving the needle – taking research from labs to real products:
• Adobe Advanced Technology Labs
• SoftQuad XML Inventors team
• Vulcan Labs (Kiha)• PARC (Meshin)
• Years of experience with planning, architecting and building multi-modal smarter systems
References
• Eric Rock, President & Co-Founder, TeleTrust
• Brian Golden, CFO, TeleTrust
• Alex Algard, CEO Whitepages.com
• Raine Bergstrom, startup COO(former GM, AOL Mobile)
• Matt Haugh, PARC (former Microsoft, Adobe, Hitachi)
• Peter Sharpe & Tom Magliery, XML Co-Inventors
• Hank Skorny, GM Intel (former EVP Real, AOL Mobile, Adobe)
• Michael Schutzler, CEO LiveMocha (Classmates, Monster.com, Real)
• Pat Ferrel, startup CTO (CTO Trailfire & Kiha)
Next Steps• Q1 (Jan – March) (Ned)
– Market Validation with Customers– Customer Research / Market Research– Business Model / Complete Business Plan– Competitive Research / Price Point Research
• Q2 (April – June) (Ned)– Competitive Research– Detailed Product Planning– Algorithm Development– Technical Due Diligence and Build-out Strategy
• Q3 (July – Sept) (Ned+CTO)– Technical Co-Founder Recruited– Pitch Prototype Developed– Pitch Deck Ready for Seed Funding– Initial Seed Funding
• Q4 (Oct – Dec) (Ned+CTO+Team)– Company rolls out, goes BIG or goes home
Wrapping Up
The Future…
What’s your
Number?
Live Life By The Numbers
69 41 12 88
99
577910
99
AirIQ: Numbers Matter
There are some potential issues using numbers…
appendix
Pitch• “Klout for your Communications”
(not just social media or social sentiment reponses)
• Semantic Web on your own personal communications
• Semantic Web technologies applied to Personal communications: made pertinent to your day-to-day life.
Problem We SolveFor End-Users
PROBLEM – FOR INDIVIDUALS / PROSUMERS•You’re spending a lot of your day in email and in communications of all types.•How much of your time is being spent on the highest priority items?•How do you know if you are actually being productive, or just moving things around? At the end of the day, how do you KNOW if you’ve actually done anything productive? Have you touched on the most important people? Have you tackled “what matters most”, or have you simply wasted some time on email?
SOLUTION •See a quick chart of your communications, every day, on every incoming and outgoing item. See how this stacks up against your highest priority people and opportunities. Understand your own personal productivity in a highly visual form.
SPECIAL SAUCE•AirIQ provides a “score” per contact that represents your success rate in reaching back to them and in taking rapid action. This score is visual and dynamic, and looks like “Klout for Your Communications”
Problem We SolveFor Managers / Business
PROBLEM FOR MANAGERS / BUSINESS•The New World of Work: Workers are increasingly telecommuting and working remote. How do you quantify / keep informed about their productivity? How do you know if they’re doing any good work at all? TODAY many managers simply check if people have been online all day, or read an end of week status report. There is no visibility into their actual work product and communications with prospects, etc. (Stats)
SOLUTION FOR MANAGERS / BUSINESS•Quick and straightforward visualization of the communications productivity of individual team members, would include phone calls, SMS, emails, etc. No need to see all the content – all you need to have is proof of a connection within X amount of time with a prospect. The score tells you everything.
PROOF CASE•The first proof case for this type of tool would be sales people and sales teams, because these teams are already mobile, remote and telecommute. These teams already are measured on communications - this is a natural fit.
– Therefore, first integration out of the gate is Salesforce.com OR MS Dynamics.
Roadmap for the Business1) Stage 1: Create initial product - Grow the audience2) Stage 2: Extend an analytic framework to drive
engagement, thus building enterprise backend system3) Stage 3: Create and sell the “new” enterprise product
OPEN QUESTIONS TO RESOLVEA) What does the user experience look like at each stage? B) How does the problem set evolve over time? C) How does our audience evolve over time?D) How are we delivering value at each point?
Product Roadmap(Hypothetical)
• ScoreKeeper – tracks communications and response times against an importance algorithm. Simple to use for consumers, business professionals. Sell product to managers for aggregate team scores. (Basic Product) (Q3 2012 )
• MOBILE ScoreKeeper – Add mobile apps that sync all these scores, and track phone calls, SMS, etc. (Mobile Output) (Q4 2012 )
• Smarter ScoreKeeper – Add Companies & Topics and tracking mechanisms over time (Analytic Framework) (Q1 2013 )
• Sentiment Analytics Analysis – today’s systems that claim to track “sentiment” actually do a very poor job, and are not using semantic technologies at all. No entity recognition, no tracking against indices, little that is done that is unique in this space. (Q2 2013 )
Product Components To Build
• Access to Communication Streams– OAuth access to Gmail, Twitter, Facebook, etc.
• Connection to Social Profiles for Pictures & Other Info– OAuth access to Gmail, Twitter, Facebook, etc.
• Config Screens– Web Site: Add and edit which accounts you want to see here.
• Importance Algorithm– Can we chart who you correspond with, and provide instant feedback on who
we think is therefore “important” to you?– Can we just use Google’s built-in algorithm Priority Inbox features for this?
(this is exposed to developers, I believe) http://code.google.com/apis/gmail/ • Charts / Graphs
– Chart the activity we observe in your Email, Twitter, FB, etc. • Time Constraints on the Graph• Viewing of the Emails / Messages, Threads, etc.