This document discusses how businesses can capture, combine, and turn data into actionable insights. It summarizes Umbric Data Services, a company that provides data solutions to help businesses harness data to improve strategies, operations, and revenue. The document outlines common misconceptions about big data, how to ask the right questions to examine customer value, and ways companies are using data analytics, including to find new customers, increase retention, improve service, manage marketing, and track social media.
Digital Advertising Lecture for Advanced Digital & Social Media Strategy at U...
How Companies Turn Data Into Business Value
1. 1
Turning Data Into Business
Value
How Businesses Capture, Combine, & Turn Data
Into Actionable Insights
Presentation By:
2. QUITE SIMPLY.
DATA!
Of course, that’s only one factor. The bigger aspect is HOW they use data.
We’ve heard all of the BUZZ words, and we understand that
using data can help us solve problems… but HOW?
2
WHAT SEPARATES A GIVEN MARKET’S LARGEST,
MOST SUCCESSFUL COMPANIES TODAY?
3. 3
How Umbric Helps
Companies Tap Into Data
Insights
Who We Are
Umbric Data Services provides Data-as-a-Service to
empower businesses with solutions to harness data and
improve their customer centric strategies, functionality,
operations, and revenue generation.
What We Do
We provide the tools and resources needed for
businesses to harvest, analyze, and visualize
information (whether internal or external ) to gain
valuable insights in order to make powerful decisions.
PROVIDING THE PERSPECTIVE YOU NEED
TO EMPOWER YOUR BUSINESS
4. Big Data and Small to Medium Sized Business
Common Misconceptions
Big Data Is Expensive
Big Data Is For Big
Businesses
We Don’t Have
Enough Data
Too Complicated to
Comprehend
4
Most companies know they
have data. What most
companies don’t know is what
the good data is. Without the
proper structure in place, lots of
time and money could be
wasted collecting the wrong
data—or even worse, time could
be wasted collecting good data
with a story that goes untold.
The problem most people
face with Big Data
Analytics is how
overwhelming the
ecosystem can be. At
Umbric, we offer
consulting and guidance
to help you understand
what data you need and
reaping the value of data
analytics
Whether you are a small
business or a Fortune 500
company, leveraging big data
analytics to better manage
your business is essential, as
it can help to identify
problems, find opportunities
and gain competitive
advantage.
Not particularly.
Of course this
depends on what
kind of solution a
company decides
to go for, but
budget spend on
big data can lead
to huge ROI.
5. 5
Asking The Right Questions
Every company should ask these three questions to examine how its big data can
create customer value:
What types of
information will help
my customers reduce
their costs or risks?
What type of
information is
currently widely
distributed, yet would
yield new
understanding if
combined?
Are there diverse and
variable data sets
among my client base
that if combined
would provide mutual
benefits?
6. Avoid Getting Lost In The Tools
While exploring how to begin utilizing Big Data as a resource for your business, it’s easy to get lost in the jargon and
tools involved. Umbric Data Services handles each step in the process, allowing clients to focus on the insights. All
you may truly need is an understanding of the components...
Data Analysis
The next step is to decide what you
want done with your data. Our
business intelligence specialists will
work with you to help determine all
the core takeaways from the
collection efforts in the previous
step.
Data Presentation ( Visualization )
Finally, you can access your data in our
secure web portal. Our interface allows
for full dynamic filtering and extraction.
Data Collection
The first step is harvesting your data.
Whether the source is online or
offline, we'll assess your needs and
find the most effective solution to
save your team the most time and
resources.
Data Preparation
Data Preparation is the process of
collecting, cleaning, and
consolidating data into one file or
data table, primarily for use in
analysis.
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7. 7
Find New Customers
Increase Customer Retention
Improve Customer Service
Better Manage Marketing Efforts
Track Social Media Interactions
Predict Sales Trends
Ways Companies Turn Data Into Value
The Most Successful Companies Use Data To Focus On Ways To Improve Customer Experiences, Not Just
Targeting. Even SMBs can gain the same advantages as larger organizations when using data the right way.
Businesses can harness data to:
8. Increasing Customer Retention
It’s much easier and cost effective to retain current clients than it is to acquire new
ones. Let’s explore how data can help accomplish this.
REACHING
OUT
REDUCING
OPTION
OVERLOAD
REAL-TIME
CONTEXT
IDENTIFYING
NEEDS
TAILOR-MADE
OFFERS
DRIVE
LOYALTY
By adopting Big Data methodologies, companies are able to effectively
explore new trends, listen to consumers in new and unimagined ways and,
most importantly, use a variety of different options to increase customer
retention in wildly competitive markets.
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9. Ways Companies Are Using Data Analytics to Reduce
Expenses
Reduce
Energy
Consumption
02
Fraud
Detection
03
Reduce
Employee
Churn
04
Out-think
The
Competition
05
Employee
Retention
01
Reduce Energy Consumption
Fraud Reduction
Reduce Employee Churn
Boost Productivity
Out-Think The Competition
.
01
05
02
03
04
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10. Data-Driven Marketing
With the market becoming more complex and customers demanding a
personalized experience, data-driven marketing is the only way forward.
Improved Forecasting & Planning
Big data enables marketers to increase the volume and
range of information sources while speeding up reporting,
enabling real-time forecasting and more informed decision-
making.
Increasing Granular Audience Targeting
Marketers benefit from a huge amount of targeting options
when it comes to online advertising. The growth of cookies
and information-rich social media, means that the data is
there to go beyond simple demographic, geographic, and
time-based targeting options.
Multi-Touch Attribution (MTA)
Marketers can use these multi-touch attribution (MTA)
models to get a better insight into campaign performance
data and the see what is actually driving consumers to
engage.
Real-Time Campaign Optimization
Big data technology, such as algorithmic decisioning
processes, can provide the sheer processing power needed
to optimize campaigns in a scalable, real-time manner.
33%
33% of elite marketers say
having the right
technologies for data
collection and analysis is
the most useful in
understanding customers.
(Econsultancy & IBM)
10
11. How Predictive Analytics Boosts Sales
Better Matches Between People & Deals
Analytics help companies identify the best
salespeople and allocate them to their most
important accounts
Getting The Right Price
Using decision-tree analytics, reps can
identify similar purchases and
comparable deal information to guide
selling.
Drastically Improve Lead Generation
Reach the right people at the right time with
the right offers
Maximize Customer Lifetime Value
Many B2B companies are implementing
next-product-to-buy algorithms that draw
on data about what similar customers have
bought.
11
12. Gathering Social Media Insights
Utilizing Data-as-a-Service, Umbric Data Services provides the resources to convert your social media
data into actionable reports that can be translated into workable strategies, without needing to hire in
house staff to tag and structure your data
The result is massive quantities of
data that could, potentially, give
organizations a detailed look into
the minds of their consumers. The
trick is to somehow make sense
of all that data and find ways of
putting this knowledge to use.
With the growing prevalence of
users to post an abundance of
information about their everyday
lives, it provides businesses an
opportunity to monitor the data
and identify patterns of behavior
in individual users. However, due
to the vast amount of data
produced by social networks on a
daily basis, the analysis of this
information cannot be performed
with a mere software algorithm;
rather it must be done using Big
Data analytics.
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13. Big Data plays a major
role in enhancing the
customer experience
that a company offers.
Big Data plays a major role in enhancing the customer experience
that a company offers. With the help of Big Data, companies can
understand their customers better, thus, they are in a position to
curate much more powerful and effective campaigns. At the same
time that Big Data is generated from various sources, a wide range
of information can be collected, and much more useful insights can
be generated. It is important for the company to understand its
customers better, and to offer them a remarkable customer
experience.
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14. 14
“Data + use = value.”
Christina Ho
U.S. Deputy Secretary of Commerce
15. Partnering With Umbric
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Quick, hassle-free
With Umbric, it's our priority to provide you with quality data when you need it
most. We'll get it to you within days - not weeks or months. What do you have
to lose, other than the time you were about to spend doing it yourself?
Reliable, high-quality data
Our services are clean and consistent, with careful attention paid to
your requirements. No more data gaps or messy datasets to slog
through.
Upkeep and Support
Our team monitors your projects for you, with full internal notification
support to our staff. If there's an interruption for any reason, we'll be on top
of it and will solve the issue with expeditious urgency.
Flexible and Scalable
We provide services at all levels of complexity - one-time or
recurring monthly, from hundreds to millions of records each day.
We'll scale with you, without the growing pains of eventually having
to evolve an in-house solution.
16. 16
Next Steps
Schedule a free consultation to learn how Umbric Data Services can help your company employ data to
generate new potentials for your business.
Visit Umbric.com to discover the perfect data solution for you.