turning data into dollars
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Copyright © 2015 by Juice Inc.
Turning Data into DollarsJuice AnalyticsDecember 2015
Copyright © 2015 by Juice Inc.
Turning Data into DollarsJuice AnalyticsDecember 2015
Copyright © 2015 by Juice Inc.
1. Data as a product
2. Data meets audience
3. Designing a data product
4. Launching a data product4 Steps toData Monetization
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TOPIC 1DATA as a PRODUCT
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Competing on Analytics (Analytics 1.0)
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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
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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
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Covert
NewProduct Extensio
n
Data Product Categories
IndirectRevenue
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US News: Direct Revenue
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Volume
LinkedIn: Indirect Revenue
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ADP: Indirect Revenue
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TOPIC 2DATA meets AUDIENCE
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For Analysts For Consumers
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Be a tour guide
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The Larger Audience
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Benchmarks & Comparisons
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Calculated metrics
Make the Data Valuable
3rd party data sources “mashups”Predictive modeling
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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
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Example: PrediktoDelivering predictive analytics to maintenance workers
pre
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TOPIC 3DESIGNING your data product
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Self-serve, not self-solve
purposeful design fit users workflow
form follows function right-sized
What goes into the design of a product?
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Volume
Degree of Difficulty
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“I’ll get right on that”
“good to know”“neat”
Interesting < Useful < Actionable
Design for Action
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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
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Use Text
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Example: US Chamber of Commerceself service data for site managers
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TOPIC 4Launching a data product
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Volume
Selling
How will it be sold/distributed?
What’s needed to help sell it?
How will you explain it?
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Volume
Delivering
How will user receive it?
Who is delivering?
How do we make delivery successful?
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VolumeSupporting
Who will answer questions, comments, etc.?
How will the product be maintained?
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Volume
Simplicity vs. Simple
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Example: The Essential Economymanual labor workforce data for economic development agencies
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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
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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
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Thank you@juiceanalytics
info@juiceanalytics.com
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