At GoodData, we believe that the power of enterprise data goes far beyond simply making better decisions. We believe that data is valuable, and our mission is to help enterprises transform their data into a profit center.
‚ÄúGoodData, somewhat uniquely, is focusing on the embedding and monetizing of analytics, transforming it from cottage industry to a mainstream profitable production activity,‚ÄĚ said Butler Analytics founder Martin Butler in his post ‚ÄúGoodData ‚Äď Pioneering Production Analytics.‚ÄĚ Butler asserts that if data is to be useful, it must be integrated into what he calls the ‚Äúproduction environment‚ÄĚ:‚ÄėAnalytics need to be part of the production environment, and that means they need to be embedded within production applications ‚Äď sales, purchasing, accounts, HR, production ‚Äď and so on. But there is also something else. The terabytes of data most businesses have acquired, at considerable cost, represent an asset in their own right. This means the data can be used to generate revenue and profits. Why else would be call it an asset?‚Äô
The number of employees in any organization who need direct access to analytical tools, Butler contends, is actually quite small ‚ÄĒ sometimes no more than a few hundred in the largest corporations. However, the number of people who potentially benefit from embedded analytics can easily number in the tens of thousands. This is just one level at which GoodData offers unique value: through embedded analytics that offer mission-critical insights, when and where the user needs them.
Butler contends that the next level of analytics is the ability to use internal and external data assets to create revenue-generating data products.
‚ÄúThe people who will pay for this information,‚ÄĚ Butler writes, ‚Äúmight be partners (a distribution network for example), suppliers and any other agents who might be able to profitably use the information services a business delivers.‚ÄĚ
But it‚Äôs at a third level ‚ÄĒ what Butler calls ‚Äúone of the most exciting developments in recent years‚ÄĚ ‚ÄĒ that GoodData truly distinguishes itself by acting ‚Äúas a data middle-man, bringing organizations together who work in related industries so they can create much higher value information products.‚ÄĚ
By collaborating and sharing data, complementary organizations can accomplish together what no one business could do alone, offering high-level data products from which a broad audience can benefit. And as Butler notes, these concepts have the potential to transform the business analytics industry:The winners in any industry are always those that do something different. In the business analytics space it is GoodData that has moved away from the catchy, but largely meaningless marketing cliches such as ‚Äėself-service‚Äô, ‚Äėease-of-use‚Äô, ‚Äėbig data‚Äô and others that are starting to lose their sparkle ‚ÄĒ simply because they are not delivering. Having spent a decade in a hype wilderness, businesses can now start to production-line their analytics ‚ÄĒ the real work begins.
We couldn‚Äôt have said it better ourselves.
Read the full article here.
Video has become an essential piece of the retail buying journey. More effective than text or static pictures alone when it comes to explaining features and benefits, customers are starting to expect quality video content when purchasing or researching products. But while content may be king, any video campaign requires accurate measurement in the form of analytics in order to optimize for success. Eliot Towb, a product manager for GoodData client Invodo, shared some key insights on video analytics in his article ‚ÄúWhy Online Video is Essential to Omnichannel Success.‚ÄĚ
‚ÄúYou must have analytics in place to get the most out of your video program,‚ÄĚ Towb writes. ‚ÄúWithout analytics, you will not be able to detect site issues or changes that reduce the impact of video, and ultimately, the increased conversion that follows from a well-executed program.‚ÄĚ
Towb goes on to present three sets of analytics that can help online retailers maximize revenues from their video content:
- Engagement metrics (View Rate, Completion Rate, Sharing) that tell the retailer how often and how long customers are interacting with its videos, as well as how likely they were to share videos with their communities.
- Satisfaction metrics (Ratings, Comments) let retailers know whether customers found the content helpful and how well it met other expectations. ‚ÄúComments are especially valuable for product videos in determining whether you have the right feature content in your videos,‚ÄĚ Towb notes.
- Conversion metrics (Cart, Purchase Activity) represent the impact the retailer‚Äôs video content has on their bottom line.
In October 2015, GoodData kicked off its Good People Doing Good program where employees could take time off during their workday to volunteer for various causes around the city. It gave coworkers from different departments a reason to connect and work together in a non-business environment. The Company coordinated different types of events so that everyone could find something they were interested in. There was park cleanup for the environmental nut, soup kitchens for kind souls, house building for handy employees, and dog shelters for the animal lovers.
Our kick-off event was an environmental cleanup effort at Sue Bierman Park, a recreation area right in front of the Ferry Building. We met up as the sun rose and enjoyed some coffee and snacks with new friends before getting to work.
The group was split into two ‚Äď one helped plant new foliage, and the other removed invasive shrubbery. In the end, we reunited to clip unwanted offshoots from the trees.
It was a great day outdoors where we were able to make friends from different departments and help create a better environment for the city.
We also volunteered at Project Open Hand, a soup kitchen that serves underprivileged individuals in the community. The history of the organization is fascinating; it dates back to the AIDs epidemic when a volunteer at Meals on Wheels saw how badly HIV patients were being treated at various hospitals and how they were shunned by society.
The founder created Project Open Hand as a way to shatter society's perception of these patients, and help lift their spirits in their time of need. Hearing this history gave us a sense of purpose, and it made the volunteer work a lot more fun and motivating.
We were split up into three groups: the kitchen, the warehouse, and the office. The kitchen crew cut fruits and vegetables to be cooked and served, the warehouse crew filled granola bags and sorted fruit to ensure the freshest meals, and the office crew wrote letters to donors to ensure continuing contributions.
There was a project for each individual's interests and skills, and everyone had a great time working together.¬† ¬†
The Company wanted to make sure that everyone who wanted to volunteer had the proper outlet to do so. Thus, we signed up to build houses with Habitat for Humanity, an organization that provides low income housing for local residents in need.
Our group split four responsibilities: flooring, sound/fire proofing, scaffolding, and plumbing. The flooring group nailed boards on beams to create the ground of the second story in the house while the sound/fire proofing team put materials against the side of the wall to insulate sound. The scaffolding group built new scaffolds for workers and volunteers to stand on while working and the plumbing group fixed pipes to support running water.¬† ¬† ¬†
Although it was hard work, everyone had a great time trying his or her hand at building a house.
Aside from the working with tools, we also wanted to do something for those animal lovers in the Company. Thus, we volunteered at Family Dog Rescue, which is a wonderful organization that saves unwanted dogs from extermination, and helps them find loving families.
The GoodData team helped the staff clean up the facilities at the shelter to keep the dogs nice and comfortable. Afterward, we had free time with the dogs where we walked them around the neighborhood, snuggled with them, and played catch with them in the yard.¬† ¬†
Overall, the Good People Doing Good program has been a tremendous success, with participation from the whole company. We believe that volunteering will continue to be a large part of our company culture, and cannot wait for the next event!
‚ÄúLet‚Äôs be clear about what we want from business analytics,‚ÄĚ writes Butler Analytics founder Martin Butler in his post ‚ÄúStrategies for Profitable Business Analytics,‚ÄĚ based on insights from our CEO Roman Stanek. ‚ÄúWe need more accurate and more timely decisions that cost less to process ‚ÄĒ and that‚Äôs it.‚ÄĚ
The founder of Butler Analytics goes on to examine the three ways in which organizations can operationalize business analytics:
- More efficient and effective business decisions that lead to tangible business actions. By understanding the decisions our people routinely make and the analytics needed to support these decisions, we can see how our data systems contribute to the top and bottom line.
- Clearer understanding of customers‚Äô and business partners‚Äô decision-making processes. Organizations can monetize their data by creating products that address the uncertainties of customers, trading partners, suppliers and whoever might find the information useful.
- Merging external data sources, particularly those of businesses in related markets. For example, airlines, hotels, and car rental agencies can merge data to create snapshots of customer behavior that are more accurate and more useful than a single business might be able to create.
Butler concludes by citing the need for ‚Äúa production oriented approach, where profitable business analytics can be realized.‚ÄĚ If we continue to act as if analytics deliver value in their own right, he says, we risk ‚Äúa gradual disillusionment with business analytics technology, and missed business opportunities.‚ÄĚ
A recent article on CMS Wire remarked that embedded analytics have emerged as a way to meet organizations‚Äô demand for distributed data: decision-guiding information that can be easily accessed, understood, and leveraged by users at multiple levels across all divisions.
The article goes on to cite five key trends to watch in embedded analytics, including two that we found especially compelling: multi-tenant structures and custom globalization.Multi-Tenancy: Accept No Substitutions
CMS Wire writes that ‚ÄúEmbedded analytics vendors following this trend towards SaaS as the de facto delivery model for software apps are building their products to work in these [multi-tenant] environments.‚ÄĚ
GoodData board member Bil Harmer wrote a blog post on the topic of multi-tenancy, which to some is still an ill-defined concept. Bil pointed out that insufficient understanding has allowed some vendors to claim to be ‚Äúmulti-tenant‚ÄĚ while running an older hosted deployment involving one installation of the binary for each customer. The problem with these ‚Äúfluffy-but-not-cloud‚ÄĚ deployments is that they fail to deliver on many of the advantages a true cloud solution offers.
For organizations seeking ‚Äúthe one true cloud,‚ÄĚ Bil offers a great working definition: a multi-tenant SaaS deployment, which has a single binary or deployment used to serve multiple customers.Globalization: More Than Language
‚ÄúThe expansion of large multi-national corporations and businesses into different regions,‚ÄĚ writes Zhao, ‚Äúmakes localization of software applications critical for widespread adoption.‚ÄĚ
Earlier this year, GoodData announced several strategic initiatives to expand and accelerate our own international business. These initiatives included updates to our service platform tailored to end users outside the United States, who now make up nearly 50 percent of our user base. Our software platform now provides localization ‚ÄĒ not simply translation, but geographic customization ‚ÄĒ supporting half a dozen languages including German, French, Japanese and Portuguese.
As the ‚Äúdemocratization of data‚ÄĚ takes hold across industries and across organizations, the demand for embedded analytics is poised to accelerate. Those looking to reap the greatest reward from their investments would do well to ensure that true multi-tenancy and globalization capabilities are part of the package.
GoodData is proud to announce that Divya Ghatak, our Chief People Officer, has joined Watermark‚Äôs board of directors. Watermark‚Äôs mission is to increase the number of women in leadership positions, and Divya‚Äôs passion for building diverse and inclusive teams will be a huge asset to their organization.
Divya oversees global people operations at GoodData, where she combines her extensive leadership experience developing strategic people operations for diverse global businesses with a special focus on employee engagement, talent and leadership development, corporate culture and organizational collaboration. Recently, I sat down with Divya to chat with her about her thoughts and feelings about this latest achievement.
How did you hear about Watermark, and what appealed to you about them?
‚ÄúI first learned about Watermark through the diversity initiatives that I worked on while I was at Cisco, and more recently I attended their Watermark Conference for Women along with several other GoodData employees. In terms of what drew me to them, the scale and the level of coordiation is unprecendented compared to what I‚Äôve seen in the past, from the diversity and quality of speakers to the level of organization and reach of the program. I also love the fact that this is a completely mission driven nonprofit dedicated to a most relevant cause of our times!‚ÄĚ
What will your duties be as a Board Member at Watermark?
‚ÄúMy primary initiatives will be around furthering the mission of Watermark, which is to increase the number of women in leadership positions everywhere, not just in tech. I am excited about being able to represent Watermark‚Äôs amazing membership community and at the same time, continue to leverage my leadership role in enhancing Watermark‚Äôs public standing. My board duties will involve committing dedicated time to prepare for BOD and/or committee meetings, actively serving on at least one standing board committee, and attending social events, conferences and speaker series.
The business case for building diverse and inclusive environments has never been stronger, and I‚Äôm excited about using my talents, network and knowledge base to bring this to the forefront with Watermark; they provide an amazing forum for inspiring and developing people.‚ÄĚ
What are your top 3 goals as a Watermark Board member?
- Attend key events that foster Connection ‚Äď Watermark creates a safe and comfortable space where professional women truly come together and make meaningful connections, pursue new opportunities, problem solve, empathize, de-stress, and celebrate each other‚Äôs successes.
- Help generate resources for development through programs that offer: opportunities for continuous learning, promote innovation and growth from top thought leaders in monthly webinars, speaker series and 1‚ĀĄ2 day conferences.
- Advocacy ‚Äď Leverage my network and connections to amplify our influence and actively work towards the next quantum leap in our individual and collective success. Our goal is to increase representation of women at executive levels to drive innovation, human development and economic growth.
What can the women of GoodData look forward to learning through your involvement with Watermark?
‚ÄúThis new position will directly support the Women in Leadership program led by Marlene Arroyo at GoodData. We have been lucky to have the sponsorship of our CEO Roman Stanek in creating an environment that engenders diverse and inclusive teams. Watermark hosts 50+ events a year, which will provide huge opportunities to connect GoodData‚Äôs employees with women in leadership. By attending these events, women at GoodData can gain practical knowledge, such as how to improve their negotiation skills as well as get closer to their dreams and aspirations through targeted programs, development and sponsorship‚ÄĚ.
What can the men of GoodData look forward to learning through your involvement with Watermark?
‚ÄúMy passion is to build amazing experiences where talented people can perform at their best, and that goes just as much for men as it does for women. While a lot of Watermark‚Äôs events tend to be women oriented, we know we must get men in on the conversation. There‚Äôs an article in the New York Times that I love that talks about including men at these events to make a dent in the lack of women in leadership roles. When we‚Äôve had external speakers talk about these topics, the GoodData men have attended with passion. To quote - ‚Äėsisterhood is not enough, workplace equality needs men too!‚Äô‚ÄĚ
On September 8‚Äí9, 2016, about 1,600 executives, analysts, venture capitalists, and entrepreneurs from across the financial industry will meet in New York for Finovate, the only conference series focused exclusively on showcasing the best and most innovative new financial and banking technologies. For two days, attendees will enjoy live demos of the latest financial and banking technologies as well as high-impact networking sessions.
What makes Finovate truly unique is not only the subject matter, but also the experience: no keynote speakers, no expert panels, just rapid-fire seven-minute demos of the latest in financial and banking technologies.
And yes, GoodData will be there! The team and I look forward to demonstrating how large financial services and payment processing companies can distribute valuable data and analytics to branch managers, agents, merchants and external partners to help them personalize sales, improve consumer loyalty and turn data into a profit center within their B2B network.
I‚Äôll be on stage to demo our Financial Services solution on Thursday September 8 at 2:50pm EDT. Be sure stop by our booth in the Networking Hall, or fill out this form to schedule a meeting with our team.
See you in the Big Apple!
Once upon a time, business intelligence was just about generating charts, graphs and reports. Then analytics ‚ÄĒ trending, predictive, comparative ‚ÄĒ came along. Now, as the Third Wave of Business Analytics, or ‚ÄúBI 3.0‚ÄĚ begins to take shape, we can reflect on how whether the discipline has delivered on its promise ‚Ä¶ and which gaps remain to be filled.
One area that most BI vendors continue to fail to deliver on adequately is the ‚Äúdemocracy gap.‚ÄĚ Since its inception, business intelligence has delivered unprecedented visibility into the past, present, and future ‚Ä¶ but only to the ‚Äúanalytically elite‚ÄĚ ‚ÄĒ the analysts, the power users, and the Excel junkies. As competitive pressures escalate, we need to release analytics from this silo and make it a part of the enterprise‚Äôs culture on all levels, especially in B2B industries.
The democratization of analytics is at the heart of GoodData‚Äôs platform. Our latest eBook, Going Beyond the Data: Analytics for the Masses, gives not only a technical overview of our platform but also a roadmap for transforming your data and analytics into a true net-new revenue generating profit center.
If Enterprise Data Monetization is to succeed, organizations have to get resources and insights into the hands of the people who need them, and offer a more accessible way to consume and interact with the final data product. Distributing targeted analytics to each participant ‚ÄĒ including customers, partners, and distributed stakeholders ‚ÄĒ will drive greater value throughout the entire business network.
This report details how GoodData‚Äôs platform and expertise enable customers to deliver contextually and semantically aware "Smart Business Applications" that bring data and analytics to the applications where work is actually done, through three services:
- The Distribution Service provisions, manages, and monitors analytic environments for each network member, ensuring the highest levels of security, performance, and scalability without sacrificing manageability.
- The Analytics Service enables business users to engage with strategic analytics and operational reporting from their business network and easily explore the data to resolve unanswered business questions.
- The Connected Insights Service enables the ‚Äúnetwork effect,‚ÄĚ yielding greater understanding of external influences as well as operational and strategic performance through benchmarking of business network members to drive revenue.
To learn more, download a complimentary copy of the white paper Going Beyond the Data: Analytics for the Masses.
Did you know that in the next five years, 90 percent of analytics solutions for business users will be embedded in other core applications?
That‚Äôs what Nucleus Research reports in their latest data and analytics research note, The Evolution of Embedded Analytics. As the ‚Äúdemocratization of data‚ÄĚ places analytics in the hands of business users across the organization, the demand for embedded, visual, easily digested information is on the rise.
Business users such as sales teams demand the data required to make better decisions, but have little desire to toggle back and forth between apps or to interact with a complex dedicated analytics tool. Embedding data into core applications helps the organization on three levels:
- Adoption: For an analytics tool to deliver ROI, it must be used. Since analyzing data is a low priority for business users, convenience and ease of use is a must. Embedded analytics offers them the easy, in-context accessibility needed to facilitate adoption of the app.
- Context: Embedding analytics enables users to approach an analysis with better understanding of how a specific insight can help them.
- Productivity: Nucleus discovered that toggling between applications a primary application and a standalone analytics application can take up as much as 1 to 2 hours of an employee‚Äôs time per week. Embedded analytics allows users to incorporate analytics into their daily activities without adding another task into their day.
So, what‚Äôs next? According to Nucleus, embedded analytics will play an ever larger role in the daily lives of employees at all levels of the organization. ‚ÄúIn the next 7 years,‚ÄĚ the report concludes, ‚Äú90 percent of business users will interact with analytics at least once per day but only 15 percent will realize it.‚ÄĚ
To learn more about why embedded analytics are the future of organizational data, download the Nucleus Research paper here.
Most of us are familiar with the benefits of moving business intelligence (BI) and data warehousing environments to the cloud: speeding deployments, avoiding capital expenditures on hardware infrastructure, simplifying software upgrades, and minimizing the need for IT involvement.
In a new white paper, my colleague Wayne Eckerson, founder and principal consultant of Eckerson Group, reveals the most impactful benefit of cloud BI solutions: the ability to cascade virtual BI deployments to internal and external networks of organizations and users. As Wayne puts it,Externally, these networks make it possible for organizations to enrich customer, partner, and supplier relationships by supplying complete, interactive and self-service BI environments rather than static PDF reports or data dumps typical of current extranet reporting solutions. These data monetization networks will enable organizations to improve customer service and stickiness, increase revenue or generate new revenue streams, and fully monetize their data assets.
Cloud deployments allow companies to create unique BI instances for each business unit, division, or department, each of which can generate a new BI instance for each of its internal groups (if permitted). Separate BI environments can also be created for each member of its external network, including customers, suppliers, and partners.
Eckerson‚Äôs white paper goes on to explore tangential benefits of BI cascading, including
- Balancing centralized governance with local flexibility
- Increasing customer satisfaction and the value of existing products and services
- Generating entirely new revenue streams
To learn more, download a complimentary copy of the white paper Data Monetization Networks: The Real Value of Multi-Tenant Business Intelligence
Data has played a vital role in the insurance business since the industry‚Äôs earliest days, with actuaries using advanced statistical analyses to assess and monetize risk. Today insurance companies are experiencing an exponential increase in data, which, if applied strategically and effectively, offers significant competitive advantages and monetization opportunities.
On September 15, chief data officers from across the insurance industry will meet in Chicago to explore the evolving opportunities surrounding big data and the importance of championing analytics at the enterprise level. The Chief Data Officer Forum Insurance 2016 will feature more than 20 speakers presenting on topics including
- Price optimization
- Fraud analytics
- Predictive modeling
- Customer data management
- Disruptive innovation
- Embedding a data culture within your organization
- Data quality
- And many more
Stephanie Burton and I will be on site at the GoodData table in the expo hall. Meet us on site and learn how distributed analytics empowers organizations in the insurance industry to commercialize and monetize their existing data Register here.
See you there!
What happens after you‚Äôve built your data product? Well, you hope to get it into the hands of your customers. But if the first time you‚Äôre thinking about the launch plan for your product is after it is already built, then it is already too late.
Your go-to-market (GTM) and launch planning needs to be started alongside your product development, so that you can execute on it when you have your product ready for pilot, Beta or general availability.
While there are a lot of parts to a GTM and launch plan, the key aspects are listed below, and we‚Äôve aligned them in stages to fit in with when your product is built and ready for launch.Pre-Launch
- Define value proposition and create a positioning statement for your data product. In this statement, explain the target market and the benefit to your customers; for example, ‚Äú‚ÄėOur Analytics Product‚Äô empowers pharmaceutical manufacturers to analyze transactions and change their processes to improve margins.‚ÄĚ Creating this positioning statement allows everyone else in your organization who hasn‚Äôt been a part of the product development effort to understand the product and its value and build other key messaging in marketing initiatives.
- Define the metrics for your launch and assign goals so you can track if your launch is successful. Your metrics can be around reach of your launch, adoption of your product, additional revenue you hope to gain with the launch or customer satisfaction if the goal of your data product is to improve your customer‚Äôs experience.
- Collaborate with your marketing teams to build collateral for your prospects. Use your positioning statement to drive the material. This could be one-pagers to highlight the core value your customers will get from using the data product, demos built for your target audience or case studies to highlight how other customers have already leveraged your data product.
- Enable and train your sales teams so they are familiar with the data product you‚Äôve built, and can communicate with prospects about how and why it would be valuable to them along with your core product or service. It is especially useful to have a demo version built out for your sales team can leverage.
- If your organization relies on implementation or support teams, this is the time to educate them on your data product and train them on what you‚Äôve built, the value of it and how you expect customers to get up and running with it. Also, define the support process during this stage. Who is responsible for first response? When would you escalate to GoodData support? If you have this process outlined before launching, it definitely saves you from having to put out fires later on!
While your value proposition and positioning will help you understand who your target audience is and the channels you‚Äôll be using to target them, you will still need to pick a launch date and prepare for activities leading up to and during your launch period so that you can engage these target customers. The strategy you pick for your beta product can be different from the one you employ for general launch. Depending on your marketing strategy, you may decide to include the following activities in your launch:
- Webinars for prospects or webinars along with customers already using your data product
- Blog posts and articles
- Targeted email campaigns with curated content or offers to trial the data product for a period of time
- Live event - our customers have pitched their data products at different industry conferences or customer workshops
We also recommend creating a launch plan and keeping these dates in mind as you work on building your data product. Here are some examples of a high-level and detailed plan:
After your initial launch is complete, continue activities post launch as well to keep the interest high amongst your prospects and customers. Also, if you did a beta launch and are going to plan for the full product launch later on, this is a good time to analyze the results of your beta launch and use them to influence your strategy.
- Continue your marketing efforts by including content on your data product in your organization‚Äôs content strategy and cadence. Refresh case studies and customer webinars frequently.
- Track progress against your metrics and refine your launch strategy. Are you reaching the customers you had wanted to? Are you hitting the adoption and revenue goals you had planned for? If not, think about how to refine your launch strategy for the next release or how you can continue to reach your target with ongoing activities.
- Finally, collect and analyze customer feedback post launch so you can use it to influence your product roadmap. Its also important to set up a mechanism to collect this feedback frequently. Will you be gathering feedback via surveys, customer focus groups, online community or from your support team? If your organization relies on an implementation team to set up your product and the data product for your customers, then create a process to gain feedback from this team as well.
Study after study has shown that an environment fueled by diverse, inclusive teams is key to enhancing innovation, inspiring creative problem solving, and fostering greater agility in adapting to the changing needs of today‚Äôs business environment. Here at GoodData, we‚Äôre proud to promote diversity and inclusion ‚ÄĒ not only because it‚Äôs good for our bottom line, but because it‚Äôs the right thing to do.
As GoodData‚Äôs Chief People Officer, I‚Äôve had the pleasure of being deeply involved in our initiative to foster diversity in our workforce. We built this initiative around five key success drivers:Truly Listen
Create an environment where people feel comfortable sharing candid feedback through engagement surveys, focus groups, and other opportunities.Lock in Leadership Engagement and Ownership
Recognize that when programs have the backing of your leaders, they get more traction across all areas of the company.Enlist and Empower Champions
Recognize and amplify the passion of people who believe in the values of the company, its culture, and its products.Build a Shared Vision
Once you have your champions in place, pick one or two key areas of impact and agree on a vision with clear success metrics that allow you to monitor your progress.Unleash the Power of Community
Allow your initiatives to be driven by community, which offers two advantages:
- Generating energy and momentum for the initiative
- Building a vibrant culture where people connect on things they‚Äôre truly passionate about
To learn more about our diversity initiatives at GoodData, please check out the video below:¬†
Drop in on any conversation between CIOs and CDOs, and chances are you‚Äôll hear the term ‚Äúbig data‚ÄĚ pop up more than once. As enterprises strive to deal with the increasingly overwhelming volume, velocity, and variety of their data, specialized solutions are becoming essential. But how do you decide which solution is right for your organization?
That‚Äôs the issue Datamation‚Äôs Cynthia Harvey tackles in her latest article, ‚ÄúComparing Big Data Solutions.‚ÄĚ Harvey advises readers to begin addressing this task with the most basic question, ‚ÄúDo I even need this?‚ÄĚ
If the answer is ‚Äúyes‚ÄĚ (and it probably is), she recommends discussing the need with existing vendor-partners, breaking the massive undertaking into smaller projects, and considering the advantages of cloud-based solutions over hosting on premises.
Harvey then goes on to ask a series of experts to offer their best tips ‚ÄĒ including GoodData‚Äôs CEO and founder, Roman Stanek, who advises readers to focus on their business objectives:"Many customers get into a feature and functionality bake-off, when in reality you need to think about how you are going to partner with a vendor to ensure your success in bringing an analytics offering to market," explains Roman Stanek, CEO and founder at GoodData. He adds, "As opposed to thinking strictly about individual features, consider the wealth of expertise and knowledge a vendor can bring to your partnership."
Stanek says that the most important question a company can ask their big data vendor is "How are you going to help me or allow me to create value from my data assets?" In addition, he advises, "Consider how you are going to productize the analytics solution to turn it into a profit center for your business. Work backwards as you would with any new product or feature you are going to introduce to your product portfolio."
Other expert tips include looking for scalability, ensuring that the solution can handle many data types, and leveraging existing investments. Harvey collected some interesting insights from a diverse group of thought leaders, and I encourage you to take a look.
As a key part of our continuing global expansion effort, GoodData is proud to welcome Lars Farnstrom as our first sales director for Europe, the Middle East and Africa.
Lars brings with him more than 20 years of experience with enterprise software in a variety of senior positions ranging from implementation to marketing and sales. Prior to joining GoodData, Lars worked at Insidesales as sales director for EMEA for the predictive forecasting and analytics product line that Insidesales acquired from C9. In addition, Lars has worked for BOARD International and Siebel Systems. Lars credits GoodData's mission to change the economics of data by transforming it from a cost-center into a revenue-producing profit center as a key reason he joined the team, and he‚Äôs looking forward to helping GoodData deliver the net-new value of data to the EMEA market.
‚ÄúEnterprise data monetization is a very hot topic in Europe right now, and there‚Äôs a real market need for robust, proven solutions to support it,‚ÄĚ Lars said. ‚ÄúGoodData not only has EU-ready servers and services, but now we have actual sales boots on the ground and I‚Äôm thrilled to be a part of the team!‚ÄĚ
Lars joins GoodData during a time of rapid international business expansion for our company. As of 2016, nearly 50 percent of our end users access our platform from outside of the United States. To support these international customers and their growing data security requirements, as well as grow new international business, we have expanded our global sales organization and are now in the process of opening our second international data center.
‚ÄúWe‚Äôve listened to the requirements our customers have for GoodData to continue enhancing its global infrastructure and support, said Blaine Mathieu, Chief Marketing and Product Officer at GoodData. ‚ÄúAnd we are confident that these investments, coupled with Lars‚Äô leadership, will further drive GoodData‚Äôs growth.‚ÄĚ
One year after the first workshop, the DataGirls are back and ready to crunch some data! We met at Impact Hub in Prague to dive into the world of Business Intelligence, data analysis and modeling.
Our awesome lecturers Denis and Giuliano introduced the core concepts of data, datasets and dimensions. Once we all had a better understanding, we went through hands-on exercises that included working with Tableau, GoodData and PowerBI.
In the end, all 31 DataGirls were able to load their own data and create all kinds of reports and dashboards. Our team consists of six data and analytics experts who work with data on a daily basis.
FEEDBACK FROM THE DATAGIRLS
‚ÄúI went home with the feeling of newly gained information, having had a chance to try new BI tools for data analysis, which I consider as the main and most important part of this workshop. I also met so many interesting people, both from lecturers and also from attendees. This and all other Czechitas workshops can be easily described as ‚ÄėGive a man a fish - feed him for a day; teach him to fish - you feed him for a lifetime.‚Äô‚ÄĚ- Andrea J.
‚ÄúNowadays, people talk about data everywhere, but not everyone has a chance to try it out and use interesting datasets. Thanks to Czechitas, the window to the BI world was opened for me.‚ÄĚ - Terera Fuk√°tkov√°
‚Äú Thanks to the DataGirls workshop which is organized by amazing Czechitas, you can easily learn about the interesting environment of data analysis. You'll find out that data is everywhere, and every one of us is working with data on a daily basis. After few hours I spent there, I can honestly say that I am able to work with data way better than ever before.‚ÄĚ - Martina M√ľllerov√°
‚ÄúThis event exceeded my expectations. learned a lot of about data, and about ways of thinking about business in connection with evaluation of data.‚ÄĚ Magdalena S.
All photos courtesy of The Czechitas
I recently covered this topic in a CMSWire article and wanted to elaborate a bit more here including three DataTalk videos of Jeff Morris, Eric Tunquist and Drew Neisser talking about how to use data to create and improve customer experiences that drive more revenue.
No matter what you sell customers or how you engage them across channels, your team has more information at their fingertips today than your ecommerce and retailing forerunners ever did. But your organization faces a big challenge: How do you best manage all that data and convert it into meaningful customer experiences and brand assets?
If we‚Äôre unable to create meaning and value in all our interactions with target audiences, we lose a great opportunity. Data can help us create better experiences for our customers that drive increased sales and grow brand equity. A major part of in-person selling ‚Äď retail, restaurants, services, etc. ‚Äď is all about your customers‚Äô unique experiences when they're in your physical location, before they walk in and after they leave.Why data is key for creating better customer experiences
Giving customers the best experience possible, whether it's in-store, online or a seamless integration between both worlds is essential to digital business success. Your customers expect more today, and they have more outlets to share both positive and negative experiences.
"Capturing timely feedback-data is critical for the customer experience, because people talk about their daily experiences to each other in person, over social channels, via reviews and surveys, or even handwritten letters," says Jeff Morris, vice president for strategy and success at GoodData, a San Francisco-based creator of analytics and smart business applications software.A 2016 survey by Boston Retail Partners found the customer-feedback form is the top measurement of satisfaction (60% of respondents use it), followed by social-media comments (59%).
"It is imperative that vendors listen and respond to customer interactions as quickly as possible to create the highest degrees of loyalty in each relationship." We heard this time and again at the recent Customer Experience Exchange Retail event hosted by IQPC at Turnberry Isle in May 2016.Using data for better customer experiences
Today, we‚Äôre beginning to figure out how not just to gather the data but also use it to serve both our customers and our companies. Take the Fitbit, for example.
You might have one of these personal wellness tools on your wrist right now. It captures data every second of the day, from the steps you take to the pace and distance you run, your heart rate, how many stairs you climbed and how long you slept. Then, it packages and displays that data in ways you can understand and apply to alter personal behavior and improve lifestyle outcomes.
So, what we need is a Fitbit-style view for our businesses that sorts through all of the data streaming in from POS terminals, online checkouts, customer feedback forms and other sources and then displays it so that everybody from employees to customers can understand and apply in personal ways.
The bar is definitely higher today, and creative uses of data will help you rise above it, as the two ideas below illustrate:Idea 1: Tie data clearly to business outcomes
Eric Tunquist, vice president of customer feedback for the quick-serve restaurant company Jack in the Box has found success in helping franchise operators understand and act on the customer feedback that floods into the company's 2,000+ locations through guest-service scores.
"I try to put myself in the operator's shoes," he says. "I need to provide the data in a way that's actionable and timely and most importantly tied to business results ‚Äď how they can make more money by acting on the information I'm providing."
Tunquist correlates the data with important outcomes such as sales growth. This helps operators understand how improving guest service can improve results, like sales. ‚ÄúIt's very compelling when I can show them that those restaurants with better guest service scores have more sales growth. It's great information, and I'm pleased to share it with franchise operators in a way they really care about to listen."Idea 2: Package data to focus on your customers
Data drives the personalization of marketing messages, which in turn builds customer engagement and creates a better experience, says Drew Neisser, founder and CEO of Renegade LLC and author of "The CMO's Periodic Table: A Renegade's Guide to Marketing.
"We‚Äôre in a give-to-get economy. Marketers have to give something of value to get the customer‚Äôs attention, and data can be very helpful for that," he says. "Start with your customer. Focus on the customer. Don‚Äôt think of data as a way of increasing sales. Instead, think of data as a way of improving customer experience.‚ÄĚ
Enterprises are now creating analytic packages to boost performance across KPIs and create more engagement among their built-in networks of agents, franchises or storefronts. The key to success, however, is in how and to whom you package available data.About the Author
Erick Mott is a co-creator, blogger and speaker @Creatorbase. He shares ideas and insights about creator competency, digital transformation, customer experience, modern marketing, and workforce success. Mott is based in the San Francisco Bay Area and has 25 years of experience in creating value for agency, enterprise, media, and startup companies.Related links in order of placement in article:
CMSWire article: http://www.cmswire.com/customer-experience/bridging-the-gap-between-brand-assets-customer-experience/
Jeff Morris on Twitter: https://twitter.com/jeffmmorris
Boston Retail Partners study: https://bostonretailpartners.com/2016-pos-survey/
DataTalk video of Morris from CX event at Turnberry Isle: https://www.youtube.com/watch?v=xEUKwo6tPVI&list=PLFiZU7b32UHKj31zWUVUX3eNRZWkt7dOw&index=24
Eric Tunquist on LinkedIn: https://www.linkedin.com/in/eric-tunquist-021a2a55
DataTalk video of Eric Tunquist: https://www.youtube.com/watch?v=tih5znRHSWU&list=PLFiZU7b32UHKj31zWUVUX3eNRZWkt7dOw&index=25
Drew Neisser on Twitter: https://twitter.com/drewneisser
DataTalk video of Drew/CX: https://www.youtube.com/watch?v=9USWwP2E7nU&index=23&list=PLFiZU7b32UHKj31zWUVUX3eNRZWkt7dOw
Creatorbase twitter: https://twitter.com/creatorbase
CMSWire article: http://www.cmswire.com/customer-experience/bridging-the-gap-between-brand-assets-customer-experience
What‚Äôs the #1 secret to a franchise‚Äôs success? According to a recent article in Fast Casual, the answer to that question is simple: a strong, supportive relationship between franchisor and franchisee.
Speaking at last month‚Äôs International Franchise Expo in New York, David E. Hood, president of the iFranchise Group, shared some insights on the importance of the franchisor-franchisee relationship. Hood noted that the more support a franchisor can offer its franchisees, the faster the ramp-up time ‚Ä¶ and the shorter the path to profitability."Relationship is so critical to your growth," said Hood, who also noted that good relationships will get off to a solid start if the franchisee shares common goals with the franchisor, including a passion for the business, a clear vision and a goal to succeed.
Jeff Morris, GoodData‚Äôs VP of Data Monetization Strategy & Success, agrees with Hood‚Äôs assessment and goes one step further to emphasize the vital importance of data in building that relationship.
‚ÄúBy delivering actionable information that‚Äôs both easy to understand and relevant to the franchisee‚Äôs specific situation,‚ÄĚ Morris says, ‚Äúfranchisors set their partners up for success. They present an accurate snapshot of the franchisee‚Äôs performance, (and future potential) benchmarked against comparable locations and communities in order to identify opportunities for improvement.‚ÄĚ
Morris believes that providing this personalized data to franchisees on demand accomplishes two mission critical tasks. ‚ÄúFirst, it makes a strong statement about the franchisor‚Äôs commitment to the franchisee‚Äôs success in their local community,‚ÄĚ he explains. ‚ÄúSecond, it allows them to get on the same page when they discuss how to improve performance with shared knowledge of the uniquenesses of the local market. They can approach those conversations from a common starting point, which enables them to collaborate effectively on strategies for achieving their common goals.‚ÄĚ
To learn how franchises like Dickey‚Äôs Barbecue, Panera Bread, and Pizza Hut are using data to improve their operations, download a copy of the Fast Casual white paper ‚ÄúHow Big Data is Revolutionizing the Restaurant Industry.‚ÄĚ
Last week Alice Lee and the GoodData team headed to New Orleans to talk data and hospitality at the 2016 Hospitality Industry Technology Exposition & Conference (HITEC).
Over the course of two and a half days, the team met with more than 200 companies to talk about how GoodData enables hospitality companies to distribute valuable analytics to individual brand owners, hotel operators, and suppliers.
‚ÄúAt HITEC, we saw just how hungry the hotel industry is for a solution like ours,‚ÄĚ says Lee. ‚ÄúMany companies are spending a lot of time and effort pulling in data from different areas across the organization. When they heard just how easy GoodData‚Äôs scaleable platform could make this for them, it was music to their ears.‚ÄĚ(Learn more about our hotel and technology solutions.)
The more than 200 visitors to our booth included representatives from hotel companies, technology providers, payment processing providers, and PR/marketing firms focused on the hospitality industry. Among other things, they learned how our platform can help increase bookings and customer loyalty, maximize the ROI of corporate programs for hotel operators, and improve sustainability across all properties. ‚ÄúThe hotel brands were especially interested in GoodData‚Äôs benchmarking, scorecarding, financial reporting, and operational reporting capabilities,‚ÄĚ Lee recalls.
Just for fun, visitors also had the chance test their knowledge on data and the hotel industry with our very own trivia game ‚Ä¶ and a few walked away with some choice prizes.
Many thanks to all who visited our booth at HITEC 2016. We enjoyed meeting you and look forward to seeing you next year in Toronto! If you‚Äôd like to learn more, please contact me at Nicole.Leslie@GoodData.com
(Left to right) Alice Lee, Lindsey Clark, and Jerrica Nicolas on the opening day of HITEC 2016, ready to share the benefits of the GoodData platform!
As soon as the smoke clears from the Fourth of July fireworks, our nation‚Äôs capital will welcome more than 300 executives from the hospitality industry for the 2016 Revenue Strategy Summit (RSS).
RSS brings together industry thought leaders and practitioners ‚ÄĒ including CIOs, CMOs, COOs, and brand executives ‚ÄĒ to examine forces reshaping the hospitality industry. This intense one-day event will elevate attendees‚Äô perspectives of revenue strategy while addressing revenue data, marketing, and technology.
Our own Blaine Mathieu, chief marketing and product officer, will be in attendance. If you‚Äôd like to schedule a meeting on site, visit our Revenue Strategy Summit page and complete the meeting request form ‚ÄĒ we look forward to chatting with you.
Highlights of RSS 2016 include
- Keynote presentation by Greg Marsh, Co-founder, onefinestay
- Panel discussions on loyalty programs, new technologies, the groundbreaking update to the Distribution Channel Analysis study, revenue strategies, and other hot topics
- The ‚ÄúThink Tank,‚ÄĚ where industry experts respond to your questions
Here‚Äôs to a terrific event!