getting value out of your data - kevin pak @ newpeople vip connect 17/4/14

Getting value out of your data

Kevin Pak

What does a data scientist do?

Get value out of your data

Where do we stand?

Example Cases

Dynamic Pricing

Dynamic Pricing Process

Price

Optimization

Observe

Sales

Demand

Forecast

Google Adwords

Google Adwords Bid Optimization

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1

1,5

2

2,5

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0,15

0,2

0,25

0,3

0,35

1 1,2 1,4 1,6 1,8 2

0

20

40

60

80

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120

140

0 100 200 300 400

€ 1.000-

€ -

€ 1.000

€ 2.000

€ 3.000

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€ 5.000

€ 6.000

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Costs

Revenue

Profit

Conversion Attribution

Statistical Conversion Attribution

Tools in

the market

Statistical

approach

You provide the weight for frequency, time on site,

recency, page views, etc.

The tool attributes the conversions to the channels

according to the weights you provided

self fulfilling prophecy, no real insights

Statistically  determine  each  channel’s  true  contribution based on all observed visitors paths.

data driven insights

Media Mix

0%

10%

20%

30%

40%

50%

60%

70%

Actual 2011

Model 2011

Media Mix Optimization ef

fect

iven

ess

0

€ -

€ 2.000.000

€ 4.000.000

€ 6.000.000

€ 8.000.000

€ 10.000.000

€ 12.000.000

€ 14.000.000

€ 16.000.000

€ 18.000.000

€ 20.000.000

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€2

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€2

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€2

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€2

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€2

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€2

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€2

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€3

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€3

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€3

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€3

.55

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€3

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Media spend

Visits

Margin

Profit

Integration is the trend

Price

Google

Adwords

Conversion

Attribution

Profit

Media

Capacity

Price

How do you get there?

One step at a time

Workshop Data

collection

Data

analysis

Proto-

typing

Proof Of

Concept

With the right people

Statistics & Math

IT Business

With the right data

Where are you?

Source: Competing on Analytics, Davenport

Kevin Pak +31 654936223 kevin.pak@ortec.com

Contact details