Very timely read on how to make an investment in Analytics pay off.
https://hbr.org/2018/01/how-one-company-made-its-analytics-investment-pay-off
Category Archives: Strategy
Too much data and not enough analysts. This article does an excellent job describing the latent power of Analytics, and the potential of citizen data scientists. All-in-all, a good way to kickoff this month’s focus on Analytical Automation.
https://hbr.org/2018/05/why-marketing-analytics-hasnt-lived-up-to-its-promise
Calculating CLV with Artem Mariychin of Zodiac Metrics
What is the fundamental unit of value to a business? It turns out it’s the customer. Artem Mariychin, CEO and Co-Founder of Zodiac Metrics, joins host Allison Hartsoe to explain why companies should care about calculating Customer Lifetime Value (CLV), how to establish an accurate CLV formula model, and the positive business impact organizations can drive. Artem outlines how through having the right information and a data-driven approach to the customer, companies are able to increase their ROI and make better business decisions.
from Ambition Data…
Very thought-provoking (if not sobering) article…if your Analytics program is not heading in the direction you hope, this article provides very clear places to start hunting for improvement. Many thanks to Walt Frick for this find!
https://www.mckinsey.com/business-functions/mckinsey-analytics/our-insights/ten-red-flags-signaling-your-analytics-program-will-fail
Delivering Massive Value with Analytics – Jose Murillo, CAO at Banorte
Is it possible to deliver massive value with analytics? Jose Murillo, Chief Analytics Officer at Groupo Financiero Banorte, talks about how his team generated 200x on their marketing analytics investment for the bank in this episode. He was invited to build an analytics group within Banorte with a core mandate: Increase customer equity. After a little bit more than three years his analytics group has in partnership with the business and support lines, has produced value close to $1B in net income. In 2017, this was equivalent to 43% of the net income produced by the whole financial group. In this episode, Murillo talks about the six factors for success, including being set up as a profit center with targets and accountability, fostering relationships through the organization, and the passion that comes when an analytics team owns the results. He explains the impact teams can generate, and that they can take time to accrue. Murillo also explains how to pick the right project — they are a mixture of science, business knowledge, and contain inevitable institutional hurdles.
from Ambition Data…