securing stakeholder buy in for big data initiatives · 2014-05-20 · • wireless electricity •...
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1 © Copyright 2014 EMC Corporation. All rights reserved. © Copyright 2014 EMC Corporation. All rights reserved.
Securing Stakeholder Buy In for Big Data Initiatives Joshua Siegel, EMC Professional Services
CDM Big Data Summit, May 2014
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Each one of these will not exist as we
know them in n years
• Virtual Face-to-Face customer interactions
• Book, check-in, and record your trip with wearable technology
• Hands free driving, hotels on wheels
• Closed loop marketplace; customizable cable offerings based on preferences
• Phones are worn or implanted
• A house that learns your habits; a carpet that knows when you’re sick Homes
Telephone
TV
Cars
Travel
Banks
No longer dumb, our “things” are rapidly becoming data generators
Big Data is changing the World All Around Us
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Bookstores
• Borders failed to understand digital revolution • Ebooks have gained prevalence in market • Borders could not compete with Amazon Kindle or
the Barnes & Noble Nook
Vs.
Movies
Vs.
• Blockbuster failed to keep up with technology • Failed to be affordable: $4 for one new release • Failed to be customer friendly: Expensive late fees
Photography
Vs.
• Smartphones now have high quality cameras • No need for film/development of photos • Can share photos via social media/ easily print
Electronics
Vs.
• Online stores operate with lower margins, less overhead • Subject to “Free-Riding”: consumers using the
salesperson’s knowledge and listening to actual systems in store then buying online
Many others stand on the edge of massive change
Impact Is Already Being Felt Across Industries
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Companies aren’t accepting the boundaries set by their industries anymore… and new entrants have no legacy industry to start with
Banking
Retail
Technology Energy
Healthcare
Everyone’s Playing in Everyone Else’s Space
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• Driverless cars • Implantable technology • Genetic-centric medicine • Thought-driven processes • Wireless electricity • Teleportation
• Ubiquitous facial recognition • Cloud-based, biometric authentication • Omni-channel advertising • Rapidly evolving business models
(e.g., TV, content, home) • Drones • Geolocation-based offers
• > 50% smartphone penetration • App. driven culture • Technology driven change • Unleveraged unstructured data
http://www.sciencedaily.com/releases/2012/09/120905134356.htm http://www.witricity.com/
TODAY
YEARS 1-3
FUTURE
How do you get stakeholders to understand and move when the opportunity and the challenge can be so great?
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Business Metamorphosis
Data Monetization
Business Optimization
Business Insights
Business Monitoring
Big Data Business Model Maturity Index
Measures the degree to which the organization has integrated big data and advanced analytics into their business model
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Link business drivers to use cases and measurable outcomes with Big Data Envisioning
Analytics
Operationalization
Identify current state, determine required state and conduct gap analysis to develop analytics implementation roadmap
Proof of Value Lab
Deploy analytics sandbox to quantify the business case
Vision Workshop
Identify big data analytics business use cases
Repeat the process for identified business cases
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Vision Workshop: Identify “Where” And “How” To Start Your Big Data Analytics Journey
Interviews with select Business and IT participants to understand objectives and challenges
Prep work to confirm targeted business initiative
On-site workshop with Business and IT Stakeholders
to tease out big data analytics business opportunities
Envisioning exercise to help convey the “realm of the possible” with big data analytics
Identify, brainstorm and prioritize business opportunities
Understand implementation complexities and
business value of opportunities
Prioritize key opportunity for Analytics Lab
• Engagement: identify the optimal times, places and offerings with which to engage Creators in order to influence their product and project buying decisions
• Communication: leverage marketing and social media to influence and measure Creators and their “spheres of influence”, advocacy and net promoter scores
• Product / Project: identify, influence and predict product buying and project planning decisions, and understand the effectiveness of marketing and merchandising in reaching them at decision time
• Financial: identify the drivers of decisions and measuring the effectiveness of influencing those drivers
• Identify / Targeting: provide a predictive environment for identifying the Creator’s lifecycle
• Loyalty: create and monitor a customer loyalty index that can guide customer acquisition, growth and retention marketing campaigns
A
B
C
D
E
F
Hi Lo
Hi
Feasibility
Bus
ines
s Va
lue
F
EC
A
B D
Capture Creator Segment
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Case Study: What’s Important To Chipotle?
Chipotle 2012 Annual Report
Chipotle Business Strategy
• Continue to build a people culture that
attracts and empowers top performers
• Continue to grow revenues (up 20.3% in 2012) by opening new stores (opened 183 in 2012)…
• …and increase comparable restaurant
sales growth (7.1% in 2012)
• Marketing focused on building the Chipotle brand and engaging with our customers in ways that create stronger, deeper bonds
• Initiative #1: Continue to grow revenues (up 20.3% in 2012) by opening new stores (opened 183 in 2012)
• Initiative #2: Increase comparable restaurant sales (by 7.1% in 2012)
• Initiative #3: Marketing building Chipotle brand and engaging customers to create stronger, deeper bonds
Outcome 1: Develop individual store profiles
including traffic patterns, customer demographics and
product preferences by time of day/day of week
Outcome 2: Leverage local sporting and
entertainment events to drive store traffic at slow
stores and during slow times
•
•
•
Valu
e D
rive
rs
Outcomes & Critical Success Factors
Chipotle 2012 Business Strategy
• Expand in-store customer data collection at POS (leverage credit card information)
• Capture, validate, score and integrate local events data
• Integrate local events insights into local marketing and email promotional communications
• Initiative #1: Continue to grow revenues (up 20.3% in 2012) by opening new stores (opened 183 in 2012)
• Initiative #2: Increase comparable restaurant sales (by 7.1% in 2012)
• Initiative #3: Marketing building Chipotle brand and engaging customers to create stronger, deeper bonds
Outcome 1: Develop individual store profiles
including traffic patterns, customer demographics and
product preferences by time of day/day of week
Outcome 2: Leverage local sporting and
entertainment events to drive store traffic at slow
stores and during slow times
• Expand in-store customer data collection at POS (leverage credit card information)
• Capture, validate, score and integrate local events data
• Integrate local events insights into local marketing and email promotional communications
Increase store traffic (acquire new customers, frequency of repeat customers)
Valu
e D
rive
rs
Increase shopping bag revenue and margins (cross-sell complementary products, up-sell)
Increase number of corporate events (catering, repeat catering events)
Improve promotional effectiveness (Halloween Boo-ritto, Christmas gift cards, graduation gift cards)
Outcomes & Critical Success Factors
Improve new product introduction effectiveness (seasonal, holiday)
Chipotle 2012 Business Strategy
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Worst Best …
Key Business Value Assessment: Improve Comp Store Sales (Chipotle)
Data Source Increase
Store Traffic
Increase Shopping
Bag Revenue
Increase # Corporate
Events
Increase Promotional Effectiveness
Improve NPI Effectiveness
Point of Sales Transactions
Market Baskets
Store Demographics
Local Competitive Stores
Store Manager Demographics
Consumer Comments
Social Media
Weather
Local Events
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Examples of other prioritized use cases from our customers
Driven by overall business strategy
• Fraud prevention
• Predicting agent/merchant/customer churn
• Cross-sell / Up-sell
• Mobile authentication, marketing / loyalty
• System Ops. / NOC
• Data security / Threat assessment
• Compliance & Risk Management
• 360 degree customer view / experience
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Identify Use Cases & Prioritize
Show near term, incremental payback
Don’t get bogged down trying to build consensus
Don’t get blinded by the hype
Benchmark – showcase what is being done by others
Consider implementation cost
Link back to business priorities
Big Data Envisioning Workshops align the ‘art of the possible’ with ‘the reality of the practical’
Thank You
Questions
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