“It’s not about Big Data, Its about Big questions”
“Use data to prioritise what you need to do”
Insights noted down by Chris Woolfenden from Cogs while attending Data Driven Design, a breakfast event from BIMA and DigitasLBi. Presentation was given by Alex Loveless – Head of Data @ DigitasLBi and Amit Shankar – Director, Business Intelligence @ MOO.com
Alex spoke about data as the key to unlocking the true potential of your business and driving the performance of user experience – understanding your customers and the importance of understanding the ‘Big Question’ initially, instead of starting with ‘Big Data’! “You need analysis and strategy on top of it, if you’re not sure how you will use the answers to better your business, then you are asking the wrong questions”. He spoke about personalisation being the most powerful form of optimisation and progressive profiling which is data derived from 3rd party ad networks to target & personalise.
How then to translate these questions into testable actions. Alex has focussed his data projects by really understanding what his clients want to do/achieve from their ‘data’, he uses a technique called MVT (Multivariate Testing) which tests hypotheses across multi-variable systems. This is a great starting point to really find out where the customer journey begins and ends – using data gained, they are then able to personalise a customers experience in real-time in a cost effective and customer-centric manner. All about starting small, testing and making a strategy on what you already know and want to know about your customers.
‘Don’t trust Big Data’ is a line he used in his presentation, a bit weird coming from a Head of Data at an agency such as DigitasLBi, however he makes a good point, especially with predictive analytics, we are dealing with people who are unpredictable so it’s not always accurate or reliable, however it is big part and a crucial part of improving customer journey. By gathering data and analysing it, building a strategy going forward and optimising the data effectively, you will in-turn create successful outcomes.
Amit Shanker – Director, Business Intelligence at MOO.com gave a great overview of his organisation and how they used data/business intelligence to really optimise their customer service, providing an easier and more personalised approach. He gave great insight into how to use data for informed business decisions and how to create a data-driven work culture which will help your business moving forward, with data being at the forefront of improving the customer journey and future success.
Overall, a great presentation with highly useful information in how to use data effectively to drive your business forward – a big thanks to BIMA, DigitasLBi, Alex Loveless and Amit Shankar!