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It’s Not the Size of the Data
– It’s How You Use It:
Smarter Marketing with
Analytics and Dashboards
© Koen Pauwels, 2017
“The manager with reams of computer output is
hopelessly uninformed. That’s why it’s so important
to exploit the computer’...
“The manager should use the computer to control
the routines of business, so that he himself can
spend ten minutes a day c...
Case studies on brand tracking, data management, offline +
online marketing communication, direct mail, social media,
sear...
ACROSS INDUSTRIES IN CASE STUDIES
Fast moving consumer goods: P&G, Unilever, snacks, delicacies
Financial services: Discov...
Analytic Dashboard: a concise set of interconnected performance
drivers to be viewed in common throughout the organization...
VIEW PERFORMANCE DRIVERS: EXAMPLES
EUROPEAN SME US-BASED LARGE FIRM
SOURCE: HTTP://WWW.MARKETDASHBOARDS.COM HTTP://WWW.DUN...
CONNECT YOUR ACTIONS WITH RESULTS
Chapter 2: Dashboard vs. Scorecard
How do we look to
shareholders?
What must we
excel at?
How do customers
see us?
Can we ...
From reporting to insightful analysis
A common pitfall in the data-driven journey is the
emphasis on reporting than deep-d...
Commonalities Differences
Provide a snapshot of a firm’s
performance
Dashboard metrics proven to lead
performance by data ...
A. Is it CONCISE?
1.Doesit giveyourbossorCEOanat-a-glance overview ofkeybusiness drivers?
2.Doesit focusonakeyfewoutputmet...
“It is possibly the single most important opportunity, in a
decade, for your management to reinvent.
But to do so you need...
Better performance by analytic dashboards =
Goal alignment with company’s vision
*
Top management support
*
Employee engag...
CONNECT OFFLINE WITH ONLINE MARKETING
DOES YOUR GUY SMELL LIKE OLD SPICE GUY ?
Funny, creative, consistent:
1) TV ad with ...
COMBINE FAST ONLINE ACTION (AUTOBAHN)
WITH SLOW MOVING ATTITUDE (BOULEVARD)
Web visits
KNOW
COGNITION
Aware
Consider
Buy
L...
How goal alignment and metrics consensus get results
Ability to
measure brand
equity
Goal alignment
Ability to
measure
fin...
Today’s marketers must possess a hybrid of traditional
marketing skills and quantitative skills – mixing both art and
scie...
5 out of 12 steps to build + maintain your project team:
1. Identify the skills needed
2. Find the right mix of personalit...
5.1 IT is from Jupiter, and Business from Mercury
5.2 How IT and business can grow closer together
5.3 Garner+sustain IT s...
Chapter 5: Build a Database and
Measurement System
The main goal of a database is to collect, analyze, and distribute
info...
Chapter 6: Garner IT Support
7 pilars to bridge IT and business units into cooperation
1. IT understands its role is to su...
Chapter 7: Generate KPIs
Key business
drivers
Aligned with
strategic goals
and objectives
Few in
number
KPIs
KPI WHEEL
OF
DISCOVERY
© BRIGHTPOINT
CONSULTING
Chapter 8: Select Leading Indicators
That Drive Performance
Direct Methods Indirect Methods
Directly asking the “why” ques...
To Leading KPIs that drive performance
Research and Marketing Input
Metric Source
Potential Key Performance
Indicators (KP...
How Your Systems Fit Together to
Identify Leading KPIs
Brand Health
Monitoring
Marketing
Pressure
Marketing Mix
Modeling
V...
Chapter 9: Include Emerging Channels:
Online and Social Media
3 rules for social media marketing:
1. Begin with setting cl...
Consumer-Initiated Contracts
and Metrics
Metrics
Quantity: e.g. Facebook likes and “talked about”, Twitter
followers and r...
31
Positive Negative
54%36%
12%
7%
17%
14%
9%
10%
21%
11%
0%
5%
10%
15%
20%
25%
Excited for
Content & Apps
Netbook/Kindle
...
Chapter 10: Include and Leverage
Learning From Emerging Markets
3 key differences between mature and emerging markets
Matu...
Conceptual Framework and Findings
for Emerging Markets
Regulative:
Lower Consumer
Protection
Cultural:
Collectivism
Econom...
Advertising has a
harder time to win
consumer minds in
mature markets,
and to win
consumer hearts in
mature markets
(long-...
Awareness drives
sales more in
emerging market,
brand liking drives
sales more in
mature market
(long-term elasticity
of s...
Chapter 11: Design Your Dashboard
Dashboard design key attributes:
• Simplicity
• Focus
• Clarity
• Compactness
• Leading ...
Source: http://www.dashboardinaction.com/, © 2010 Koen Pauwels
Chapter 11: Design Your Dashboard
5 out of 10 tips on how to visualize your dashboard:
1. Highlight key metrics that requi...
Source: http://www.dundas.com/
Source: http://www.dundas.com/
Chapter 12: Launch Your Dashboard
7 things to remember for your dashboard project success:
1. Dashboards should be useful
...
Chapter 13: Change Your Decision
Making: From Interpretation to Action
Adapt the dashboard output to the needs and
decisio...
CONSTANT EFFECT VS CONSTANT ELASTICITY
0
2
4
6
8
10
12
1 2 3 4 5 6 7 8 9 10
SalesIncrease
Marketing Spending
Linear Sales ...
HEATMAPS EXPLORE FEASIBLE PROFIT LIFTS
Heat Map of the Interaction of Two Marketing Variables on Profits
Price in $
#REF!
...
Chapter 14: Nurture Accountability
Culture
Dashboard implementation is an everyday responsibility and
requires a cultural ...
For questions and feedback, please
contact the author!
Distinguished Prof. Koen Pauwels
D’Amore-McKim School of Business
N...
It's not the Size of the Data - It's How You Use It: Smarter Marketing with Analytics and Dashboards
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It's not the Size of the Data - It's How You Use It: Smarter Marketing with Analytics and Dashboards

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It's not the Size of the Data - It's How You Use It: Smarter Marketing with Analytics and Dashboards

  1. 1. It’s Not the Size of the Data – It’s How You Use It: Smarter Marketing with Analytics and Dashboards © Koen Pauwels, 2017
  2. 2. “The manager with reams of computer output is hopelessly uninformed. That’s why it’s so important to exploit the computer’s ability to give us only the information we want—nothing else. The question we must ask is not, “How many figures can I get?” but “What figures do I need? In what form? When and how?” We must refuse to look at anything else. We no longer have to take figures that mean nothing to us and read them like a gypsy reads tea leaves.” Guess the quote
  3. 3. “The manager should use the computer to control the routines of business, so that he himself can spend ten minutes a day controlling instead of five hours. Then he can use the rest of his time to think about the important things he cannot really know— people and environment. These are things he cannot define; he has to take the time to go and look. The failure to go out and look is what accounts for most of our managerial mistakes today” Peter Drucker, Manager & Moron (1967)
  4. 4. Case studies on brand tracking, data management, offline + online marketing communication, direct mail, social media, search, promotions, pricing, product age, retargeting,… Large and small companies, B2C and B2B across 3 continents Even a small improvement in using marketing analytic dashboards brings companies on average 8 % higher Return on Assets compared to their peers (Germann et al., IJRM, 2012) Decisions that data + analytics can inform
  5. 5. ACROSS INDUSTRIES IN CASE STUDIES Fast moving consumer goods: P&G, Unilever, snacks, delicacies Financial services: Discover, Vanguard, First Tennessee Bank Consumer durables: cars, furniture, male shaving Entertainment: EB Games, Harrah’s Services: online retail, fashion retail, online travel, insurance Business-to-business: Avaya, Unisys, global packaging Not-for-profit: Atlanta city dashboard
  6. 6. Analytic Dashboard: a concise set of interconnected performance drivers to be viewed in common throughout the organization It helps you deal with: 1. poor organization of data, 2. managerial biases in information processing and decision- making, 3. the increasing demands for marketing accountability, and 4. the need for cross-departmental integration when needed Chapter 1: What Marketing Analytics Dashboards Can Do for You
  7. 7. VIEW PERFORMANCE DRIVERS: EXAMPLES EUROPEAN SME US-BASED LARGE FIRM SOURCE: HTTP://WWW.MARKETDASHBOARDS.COM HTTP://WWW.DUNDAS.COM/
  8. 8. CONNECT YOUR ACTIONS WITH RESULTS
  9. 9. Chapter 2: Dashboard vs. Scorecard How do we look to shareholders? What must we excel at? How do customers see us? Can we continue to improve and create value?
  10. 10. From reporting to insightful analysis A common pitfall in the data-driven journey is the emphasis on reporting than deep-dive analysis. The analytics team’s time is primarily spent on maintaining the existing reports and responding to ad-hoc reporting requests. Almost no emphasis is placed on advanced analysis, which can provide significantly more value to the business Brent Dykes, Evangelist for Customer Analytics, Adobe
  11. 11. Commonalities Differences Provide a snapshot of a firm’s performance Dashboard metrics proven to lead performance by data analytics Dashboard integrates short- and long-term objectives of a firm, scorecard is rather focused on long-term deliverables Align marketing (other functional unit) objectives with a firm’s strategy Scorecard lacks flexibility, dashboard is highly customizable Dashboard focuses on a firm’s context, scorecard is rather weak on competition perspective/analysis Link inputs with outputs Scorecards’ users are predominantly top managers, dashboards can be used at any level of organizational hierarchy Chapter 2: Dashboard vs. Scorecard
  12. 12. A. Is it CONCISE? 1.Doesit giveyourbossorCEOanat-a-glance overview ofkeybusiness drivers? 2.Doesit focusonakeyfewoutputmetrics ateachlevel ofdecision making? 3.Doesit focusonafewinputs thedecision maker caninfluence ateach level? B. Is it INTERCONNECTED? 1.Doesit connectkeyperformance indicators toeach other? 2.Doesit connectmarketing inputs torelevant outputsfordecision makers? 3.Doesit allow users tochangetheinputandobserve howoutputschange? C. Is it used ORGANIZATION-WIDE? 1. Doesithave short-term +long-term metrics fortactical +strategic decisions? 2. Doesithelpmanage, notjustmeasure performance ateachdecision level? 3.Isit used inmeetings andperformance reviews? IS YOUR REPORTING SYSTEM AN ANALYTIC DASHBOARD?
  13. 13. “It is possibly the single most important opportunity, in a decade, for your management to reinvent. But to do so you need to have good metrics, measurements you can trust and from which you can make sound decisions that advance your company's business plan. You need to measure what really counts. Once identified, these metrics should then be placed in your Dashboard.” Borenstein, 2009 Chapter 3: Start With the Vision
  14. 14. Better performance by analytic dashboards = Goal alignment with company’s vision * Top management support * Employee engagement Chapter 3: Start With the Vision
  15. 15. CONNECT OFFLINE WITH ONLINE MARKETING DOES YOUR GUY SMELL LIKE OLD SPICE GUY ? Funny, creative, consistent: 1) TV ad with Isaiah Mustafa around Superbowl 2) You Tube and fan response 3) Isaiah answers on YouTube > 100 M views, > 30 K twitter  Old Spice sales double in 1 y
  16. 16. COMBINE FAST ONLINE ACTION (AUTOBAHN) WITH SLOW MOVING ATTITUDE (BOULEVARD) Web visits KNOW COGNITION Aware Consider Buy LIKE Click Visit AFFECT Prefer Loyalty Experience & Express DO Search
  17. 17. How goal alignment and metrics consensus get results Ability to measure brand equity Goal alignment Ability to measure financial returns Use of a dashboard Metrics consensus Revenue improvement Learning Measurement Enablers Measurement Abilities Outcomes + - ++ + ++ ++ + + ++
  18. 18. Today’s marketers must possess a hybrid of traditional marketing skills and quantitative skills – mixing both art and science. But it’s not enough to have both on the team; you have to some of each in everyone (like having a major and minor in college). We’ve started living this at SAP. To let the science influence the art, we gather data and feedback on our marketing ideas before we make a full commitment Jonathan Becher, Chief Marketing Officer, SAP Chapter 4: Assemble Your Team
  19. 19. 5 out of 12 steps to build + maintain your project team: 1. Identify the skills needed 2. Find the right mix of personalities 3. Recognize what motivates/demotivates your people 4. Know the stage your team is in 5. Lead, don’t micromanage your team Chapter 4: Assemble Your Team
  20. 20. 5.1 IT is from Jupiter, and Business from Mercury 5.2 How IT and business can grow closer together 5.3 Garner+sustain IT support: what business can do Chapter 5: Gain IT support on data big & small
  21. 21. Chapter 5: Build a Database and Measurement System The main goal of a database is to collect, analyze, and distribute information to the right people at the right time. 5 out of 10 tips on how to manage your database: 1. Make sure your data is accurate and up-to-date 2. Distribute key information to all stakeholders 3. Customize your database 4. Keep it simple and clean 5. Utilize your database at its full capacity
  22. 22. Chapter 6: Garner IT Support 7 pilars to bridge IT and business units into cooperation 1. IT understands its role is to support business 2. IT knows strengths and quirks of its customer, i.e. business 3. IT does not get isolated, but integrated into decisions 4. Business sees how its ‘need for speed’ creates IT problems 5. Business develops self-discipline for long-term feasibility 6. Business understands set-up costs and maintenance efforts 7. Standardize IT service, but do leave the room for flexibility
  23. 23. Chapter 7: Generate KPIs Key business drivers Aligned with strategic goals and objectives Few in number KPIs
  24. 24. KPI WHEEL OF DISCOVERY © BRIGHTPOINT CONSULTING
  25. 25. Chapter 8: Select Leading Indicators That Drive Performance Direct Methods Indirect Methods Directly asking the “why” question Brand attribution approach Employing ratings, rankings and/or check-offs Conjoint analysis From possible KPIs without proven performance impact: 4 quantitative research methods to find out what (prospective) customers think, feel and do
  26. 26. To Leading KPIs that drive performance Research and Marketing Input Metric Source Potential Key Performance Indicators (KPIs) Experience Attitudes, Benefits, Claims (ABCs) Insight, qualitative & quantitative Leading Performance Indicators Lead/Lag Causality test Leading Key Vector Performance Autoregression Indicators Analysis Brand Performance
  27. 27. How Your Systems Fit Together to Identify Leading KPIs Brand Health Monitoring Marketing Pressure Marketing Mix Modeling Vector Autoregression (VAR) Consumer Response Sales/Share
  28. 28. Chapter 9: Include Emerging Channels: Online and Social Media 3 rules for social media marketing: 1. Begin with setting clear marketing goals and objectives and then move on to metrics 2. Use both quantitative and qualitative metrics: there is no “silver” metric 3. Use metrics specific to your company, business and marketing goals and objectives
  29. 29. Consumer-Initiated Contracts and Metrics Metrics Quantity: e.g. Facebook likes and “talked about”, Twitter followers and retweets Sentiment: how many of the social media mentions are positive, negative or neutral? Dispersion: do most social media mentions share similar sentiment, or do they differ a lot? Topic: what exactly are they talking about? Consumer-Initiated Contracts Content separated activities Content integrated activities
  30. 30. 31 Positive Negative 54%36% 12% 7% 17% 14% 9% 10% 21% 11% 0% 5% 10% 15% 20% 25% Excited for Content & Apps Netbook/Kindle Killer Likes the iPad Wrong Feature/Size Combo Just a Big iPhone Data Plan/Provider Concerns Unimpressed Wait & See 11% Neutral AT INTRODUCTION, APPLE IPAD TALK TOPICS
  31. 31. Chapter 10: Include and Leverage Learning From Emerging Markets 3 key differences between mature and emerging markets Mature Markets Emerging Markets Communication awareness is LESS responsive to marketing communication Communication awareness is MORE responsive to marketing communication The brand attitudes, consideration and liking are MORE responsive to marketing communication The brand attitudes, consideration and liking are LESS responsive to marketing communication Brand liking has a HIGHER sales conversion brand liking has a LOWER sales conversion
  32. 32. Conceptual Framework and Findings for Emerging Markets Regulative: Lower Consumer Protection Cultural: Collectivism Economic: Lower Income Communication Awareness Brand Consideration Brand Liking Responsiveness Responsiveness Sales Conversion Institutional Context Influences Effectiveness Criteria of Mindset Metrics [F.1] [F.2] [F.3] (+) (-) (-)
  33. 33. Advertising has a harder time to win consumer minds in mature markets, and to win consumer hearts in mature markets (long-term elasticity) ADVERTISING RESPONSE OF MIND METRICS
  34. 34. Awareness drives sales more in emerging market, brand liking drives sales more in mature market (long-term elasticity of sales to MS metric) SALES CONVERSION OF MINDSET METRICS
  35. 35. Chapter 11: Design Your Dashboard Dashboard design key attributes: • Simplicity • Focus • Clarity • Compactness • Leading to action • Readability • Insightfulness • Flexibility
  36. 36. Source: http://www.dashboardinaction.com/, © 2010 Koen Pauwels
  37. 37. Chapter 11: Design Your Dashboard 5 out of 10 tips on how to visualize your dashboard: 1. Highlight key metrics that require attention 2. Categorize information with color 3. Present data on dashboards in a consistent way 4. Use meaningful and descriptive titles 5. Avoid cluttering dashboards
  38. 38. Source: http://www.dundas.com/
  39. 39. Source: http://www.dundas.com/
  40. 40. Chapter 12: Launch Your Dashboard 7 things to remember for your dashboard project success: 1. Dashboards should be useful 2. Dashboards should be aligned with strategy 3. Dashboards should contain the right KPIs 4. Dashboards should be clear and easy-to-read 5. Dashboards should be well planned 6. Dashboards require effective execution and committed people 7. Dashboard projects do not finish
  41. 41. Chapter 13: Change Your Decision Making: From Interpretation to Action Adapt the dashboard output to the needs and decision making style of the user (heatmap, slide bar, more tactical planning tools) Decide on rules for setting marketing budget and allocation (budget allocation only, budget size and allocation) Design a (field) experiment to compare marketplace results of proposed action vs. status-quo (optimal budget setting rule) Address implementation challenges
  42. 42. CONSTANT EFFECT VS CONSTANT ELASTICITY 0 2 4 6 8 10 12 1 2 3 4 5 6 7 8 9 10 SalesIncrease Marketing Spending Linear Sales (constant effect) Multiplicative Sales (constant elasticity)
  43. 43. HEATMAPS EXPLORE FEASIBLE PROFIT LIFTS Heat Map of the Interaction of Two Marketing Variables on Profits Price in $ #REF! 10 15 20 25 30 35 40 45 50 55 60 65 70 75 TVadvertisinginthousandsof$ 0 0.02 1.04 1.92 2.64 3.22 3.65 3.93 4.06 4.04 3.87 3.56 3.09 2.47 1.71 250 0.65 1.68 2.56 3.28 3.86 4.29 4.57 4.70 4.68 4.51 4.19 3.73 3.11 2.35 500 1.25 2.27 3.15 3.87 4.45 4.88 5.16 5.29 5.27 5.10 4.79 4.32 3.70 2.94 750 1.79 2.81 3.69 4.41 4.99 5.42 5.70 5.83 5.81 5.64 5.33 4.86 4.24 3.48 1000 2.28 3.30 4.18 4.91 5.48 5.91 6.19 6.32 6.30 6.13 5.82 5.35 4.73 3.97 1250 2.72 3.74 4.62 5.35 5.92 6.35 6.63 6.76 6.74 6.58 6.26 5.79 5.18 4.41 1500 3.11 4.13 5.01 5.74 6.32 6.74 7.02 7.15 7.13 6.97 6.65 6.18 5.57 4.80 1750 3.45 4.48 5.35 6.08 6.66 7.09 7.37 7.50 7.48 7.31 6.99 6.52 5.91 5.14 2000 3.74 4.77 5.65 6.37 6.95 7.38 7.66 7.79 7.77 7.60 7.28 6.82 6.20 5.44 2250 3.99 5.01 5.89 6.62 7.19 7.62 7.90 8.03 8.01 7.84 7.53 7.06 6.44 5.68 2500 4.18 5.21 6.08 6.81 7.39 7.81 8.09 8.22 8.21 8.04 7.72 7.25 6.64 5.87 2750 4.32 5.35 6.23 6.95 7.53 7.96 8.24 8.37 8.35 8.18 7.86 7.40 6.78 6.02 3000 4.42 5.44 6.32 7.05 7.62 8.05 8.33 8.46 8.44 8.27 7.96 7.49 6.88 6.11 3250 4.46 5.49 6.36 7.09 7.67 8.10 8.38 8.51 8.49 8.32 8.00 7.54 6.92 6.15 3500 4.46 5.48 6.36 7.09 7.66 8.09 8.37 8.50 8.48 8.31 8.00 7.53 6.91 6.15 3750 4.40 5.43 6.30 7.03 7.61 8.04 8.32 8.45 8.43 8.26 7.94 7.48 6.86 6.09 4000 4.30 5.32 6.20 6.93 7.50 7.93 8.21 8.34 8.32 8.15 7.84 7.37 6.75 5.99 4250 4.14 5.17 6.04 6.77 7.35 7.78 8.06 8.19 8.17 8.00 7.68 7.22 6.60 5.84 4500 3.94 4.97 5.84 6.57 7.15 7.57 7.85 7.98 7.97 7.80 7.48 7.01 6.40 5.63 4750 3.69 4.71 5.59 6.32 6.89 7.32 7.60 7.73 7.71 7.54 7.23 6.76 6.14 5.38 5000 3.38 4.41 5.29 6.01 6.59 7.02 7.30 7.43 7.41 7.24 6.92 6.46 5.84 5.08
  44. 44. Chapter 14: Nurture Accountability Culture Dashboard implementation is an everyday responsibility and requires a cultural shift towards adoption of measurement practices 3 ways to boost dashboard use as part of accountability culture 1. Make dashboard software a part of user desktops 2. Make dashboard a corporate standard tool to view your business 3. Tie dashboard system to employees’ incentives and performance
  45. 45. For questions and feedback, please contact the author! Distinguished Prof. Koen Pauwels D’Amore-McKim School of Business Northeastern University 205E Hayden, 360 Huntington Avenue Boston, MA 02118 kpauwels@northeastern.edu @romimarketer http://notsizedata.com/ analyticdashboards.wordpress.com

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