of-Me   by-Me   for-Me.  Me on M-obil-E

ofMe   by-Me   for-Me.  Me  on  M-obil-E

Have you realized what’s common among the latest high tech electronic gadgets you picked this season? What’s one reason, you choose to discard, previous stuffs as obsolete and bring in the new to replace? What feature are deciding factors in the path to purchase?

File:1328101940 Connected.png

Why? It is the electronic parallel of the indomitable urge of human beings to remain connected.  Televisions sets to Laptops, Music systems to tablets, car dash boards to mobile phones, watches to internet etc. etc. The list goes on. Embedded with sensors these converse over the famous wireless network of worldwide connectivity, called internet.

It is virtually this internet of things that has become a part of our normal living and functioning.  A typical day starts with an alarm, not the one that pops out, but an online calendar that connects with my mobile and sets a reminder as per my daily tasks and wakes me up before I get late. I step out with an n address in the email and the GPS sitting in my dash gets busy finding the route. After office, I sit back, and play around browsing  daily feeds, when I feel like watching videos on a bigger screen. What dod I do-  I Chromecast my TV.  From things I search online to places I go visit, each and  every interaction on connected systems  identifies me , makes life simpler, fun and fast paced.

And even as we speak, there might by a toaster, an oven ,washing machine or refrigerator having a connecting sensor. That’s life today- almost racing away a life a decade back and getting better by day.

Mobile Phone, Smartphone

The one cornerstone in this internet of things that practically connects everything to each other and to itself is the mobile phone. This app driven piece of palm fitting machine, is your virtual remote control for all these devices, I mean life.  Personally or electronically – it’s yours. Recognizes you (face, palm, eye, voice detection), keeps you logged in and represent you as a distinct individual in this virtual cyber world.  Remains by your side, where ever whenever you go.  (Just keep your charger along).

And as I take a twirl around, happy to have the world a touch away, there’s a pair of eyes looking happy for me- they are of marketers and data analysts of the world.

Concept, Chart, Plan

Collecting and processing the web data involves complex infrastructure. Thankfully tools like Google Analtytics , Hadoop, are  taking care of it. But to know what to do with it, calls for a different ball game  called  universal analytics- big data  analytics . This vast data, is pregnant with critical information can and  will be used to the fullest with right planning, people , promotions and patronage in place.

Contact us for Analytics of Connected Systems and have great insights into your customers.

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Data Don’t Do- That’s left for You!

Business Analytics and importance of a plan to execute!

The importance of data today can never be overstated. More now than ever before with disruptive concepts like big data and all the great information it can yield, businesses are making a serious effort to adopt analytics services.  And so is the surge of tools and applications with promises to make their job simple.

All businesses, ones producing the food we eat to those drafting insurance policies heavily depend on insights from analytics. Some run short term subcontracted project while others build an in-house teams of top class statisticians and BI experts to ensure a constant flow of insights.

And why not- these are scientifically derived tips into what to do and what not to do in business has borne sweet fruits too…

 

For McKessen , the model development necessitated the creation of a data analytics support structure of related business intelligence that did not exist before. The sheer magnitude of the number of transactions processed each day made the project challenging. McKesson Pharmaceutical Supply handles 60,000 active items in 30 distribution centers shipping two million pieces a day to 25,000 customer locations. The new data analytics has been the source for a multitude of business projects that would not have been possible before this model and is the basis for quantifying the financial impact of the changes made. Since the model was put in use in 2010, McKesson has reduced its working capital by over $1 billion from improvements in its supply chain while improving its service in critical product areas.

 

Build direct integrated Google Analytics with AdWords account applied testing data to website design improvements. It also deployed campaign tagging and advanced segmentation to identify customer demographics. It used site overlay and funnel report insights to simplify purchase flow.

As a result there was an increase search conversions by 37%, email marketing conversion rate doubled and achieved 100% increase in sample orders.

 

CordMatch faced a challenge in using and implementing technology. They work to match cancer patients to cord-blood donors to retrieve stem cells for treatment.  So they wanted to create a modern, Internet-based matching system that is fast and easy to use. Integrate graph search and big data capabilities to rapidly compute data.

Solution was having CordMatch, an Internet-based donor matching system. Neo4j, a high-performance, enterprise-level graph database. A unique algorithm for a single and double cord searches.

The database enable blood banks, transplant centers and registries to communicate. Customizable search options simplify the matching of cord blood units. Uses a combination of innovative frameworks and a big data graph.

Hedgehog Insights- Data Don't Do

Why to analytics projects fail?

But that’s the story of less than half. Almost 55% of businesses implement big data analytics projects fails. They fail to arrive at the desired results.  Many do not why they started or what they were looking for from the analysis.  

An analytics project is  essentially a data  research project- and  like any other it is driven by objectives,  has (should have) a plan to put  to effect and should be  able to link expenditure  to tangible  business outcomes. But many miss a connection to objectives in the first place, let alone an execution plan to execute it. Following are some of the potential causes of failure as per our experience and research.

1.    Failing to build the need for big data within the organization

2.    Islands of analytics with “Excel culture”. Developing silo dashboards to answer a few questions rather than strategic, tactical and operational dashboards

3.    Lack of vision and not having a strategy; not having a clear organizational communications plan

4.    Lack of upfront planning; overlooking the development of governance and program oversight. Not establishing a formal training program

 

Which brings  us  to the  conclusion, that alone  analytics cannot lift the  dilapidated state of  affairs of  a business or  for  that matter  any  business requirement however, strong the need be or  however robust the analysis is. There has to be a full-fledged effort at an organization level built on a conviction that analytics can help and will help and it is absolutely necessary  teams follow a well baked execution plan to make that happen

About Hedgehog Insights– We are data analytics service provider . We offer analysis of business data. Be it daily operations, cash flows, website data or ones from social media, we analyze all of them together, on one platform, draw, connections, correlations, causes and offer our clients set of easily actionable insights. Tools are really in abundance and we are not selling another expensive one, all that we are sellingis a promise that our analysts will offermodern and conventional analytics , work with you and help you see hidden opportunities from your business data.Schedule a free consultation

What’s so Actionable about Actionable metrics?

One of the favorite buzzwords for analysts and data scientist today is ‘actionable metric’. Recently barged into the business lexicon and promising enough to find a long standing position this word hardly ever misses any sales pitch by any person in the business of analytics and data research.  Don’t try to connect to the meaning popular a decade back- here it’s nothing to do with law or criminal offense.

Actionable metrics are those that can be acted upon or used in business immediately, without making too many assumptions or help of a list of others – briefly, insightful information. The opposite of which is vanity metrics. Metrics that are remotely connected to use. Metrics, whose implications are subjected to the interpreter- meanings that differ from man to man.

Often we find web analytics that come with tons of metrics (and more being added even as speak), facing the fury of businesses- “too many dollar spent”, they call out  “and too little an information to use”. Agreed. Figures like number of clicks, number of visits, no. of exits or no of views are big pieces of junk. But so is sales if you did not know cost and cost if you had so information about revenue.

But if we measured count of clicks, over months, weeks, time of a day for posts to that blog you maintain, that could give great information. It could tell a reader’s preferences at various times of the year, hours when your audience are ready to read and time when you run the highest chance of  being in the limelight.

Thus it all comes down to the basis of analytics – contexts and comparisons. With right contexts in the backdrop and relevant comparison across every metric can be actionable or I’d prefer “intuitively informative”!

Since it is most popular among web analysts and Google Analytics as  the uncrowned king- lets just analyze how much action driven information this tool has  to offer.

Among the many types of analysis – dimension/metric combinations in  Google Analytics – We could count on just 5 as downright intuitively informative. They are unambiguous in their implication and pretty readily actionable (if that’s what we best understand)

Benchmarking- in Google Analytics

Bench-marking- in Google Analytics

Bench-marking Channels performance for Acquisition and Behavior- A new feature at Google Analytics and offers a comparative analysis of immediate industry in terms of channels used to acquire users and how they behave in each case.

Similar info is also available across geographic location. Important to note here is that, one gets to understand just which locations does that industry thrive in and sales or promotional channels most effective.

Cost Data- in Google Analytics

Cost Data- in Google Analytics

Cost to achieve goals- This involves uploading Cost data. Goals  achieved  is just as  good as the cost incurred –  be it micro or  macro . So all those signups, downloads, video watching or  purchase, how much did  it cost  advertising online or other , renovating the website  or to stock up that inventory etc.

Content Drilldown- in Google Analytics

Content Drilldown- in Google Analytics

Content drilldown and behavior metrics- Average  time spent on website gives a diluted idea of  engagement , but if you break it  down to each page  and  content level- that’s a solid  piece of  information giving exactly where  visitors  are engaged , if  at all.

It talks about just how good or relevant or engaging  is the content you have put out there.

Behavior- in Google Analytics

Behavior- in Google Analytics

Behaviors and rate of goal conversion across channels- Your bounce rates, page depth, and pages visited can be broken down to channels and within channels, different social platforms, referring websites or keywords that direct organic search traffic.  Is there a correlative movement between the behavior metrics and channels or sources that send. Is there any tips about where they found your link and how far is it  relevant  to that context?

Drill  it down and you’ll see somewhere it relates  to channel performance and effectiveness of all your resource , time  money and energy spent in there.

SEO Queries- in Google Analytics

SEO Queries- in Google Analytics

Queries in Search Engine Optimizations and Resultant movement over period- One of the  best form of  information available on the tool is what queries in  search gives what result- is  your website search engine optimized, where  does  your page rank for  searches  you love and

Conclusion- Metrics vary in the depth of  intuitive and  actionable  quality , but a lot of  it  depends  on the analysis it  self and of course skills of a seasoned  analyst.  If  you do not  have an analyst  or  new  to this as a business  owner, remember  it is important , the way  data is viewed and the context it is put up against. Instead  of viewing data singularly  or as a mass of aggregates, slice it  down and  try al types of  comparisons. Some will turn out meaningless but many will become insightful. Believe it  or that’s  how all analysts start! Good Luck.

About Hedgehog Insights– We are data analytics service provider . We offer analysis of business data. Be it daily operations, cash flows, website data or ones from social media, we analyze all of them together, on one platform, draw, connections, correlations, causes and offer our clients set of easily actionable insights. Tools are really in abundance and we are not selling another expensive one, all that we are sellingis a promise that our analysts will offermodern and conventional analytics , work with you and help you see hidden opportunities from your business data.Schedule a free consultation

Data Data Everywhere… not a drop of Insight

This is a post about how confusing data can get for businesses and how to find a way out. It starts with a visual sketch of typical businesses caught in a sea of data – moves on to describe what it might look like in daily life and then offers a simple, step-wise, actionable solution .

Data , Data Everywhere Not a drop of Insight

Is that you .. out there? Then its time you found a way to sail through!

Imagine yourself waking up in a rocking bed of sorts, with a chill breezing over your body and lots of light dazzling on your eyes. Squinting uneasily from within , you realize you are out in the open, beneath the deep blue sky, crammed in a small boat that somehow has kept you afloat on an endless mass of scary waters. That’s Mr. Pi, a direct lift from his book of ‘Life’, as you might be knowing. Amusing, it might be to imagine yourself as him, but if you were a modern day business manager /entrepreneur and woke up to a sea of data with all the pressure to behave like an analyst- it sure would have been a pain.

As modern day business manager you probably have one or all of these typical traits that show you’ve never got a chance to use data . So may be your vendors have gotten you to spend big on tools that produce great looking, pretty reports . But deep down, you feel they are dumb, at times funny, but never really insightful. May be,you’ve always felt like asking ‘SO What’ to all those metrics and numbers but never found a direct ,straightforward answer. And worst you have never paid much attention to hiring a good analyst for your business.

Relax, you are not alone.These are common traits and like every other danger posing mankind, these too can be won. Obviously, it involves a method and few steps to get all right.

Know, there are only 4 areas to look into- Your Business, Your Business Goals, Your Customers and Your Competitors. Notice how this stretches your perspective from your business to yourself to your business as entity in the market place. That really is the journey of all businesses on planet. All our business issues pertain to one or some of these areas combined. Tying data insights back to these four areas will keep it relevant but more importantly you will get to see through some problems. Already overwhelming? Try another way.Try finding answers to these:

1. What is the basic business idea, how far is it acceptable to your audience? Is your idea sale-able? Does the clicks,visits or time spent on website tell anything?

2. How far are your goals achieved? What is the conversion rate in terms of increasing sales,lowering cost and increased customer loyalty?

3. Why does this happen? Why are targets met- if at all they are? Why do customers behave or react the way they do? What’s on with your messages , communication, product lineup or customer service?

4.What else? How is your competition performing ? Which areas do you lead and which areas do others? Where do you stand in the market place ?

And as you look into each question , you will find yourself untangling the muddled up knot and comprehending each area , gleaning out insights and using it to know and manage your business better.

Always Know…..

If data to you is sea, insights will be salt laden, wasteful sea water, but if you’ve segmented it successfully , observed them linking back to areas of concern , data will really look like that beautiful lake with sweet water for life.

Now smile 🙂 you are no more in deep sea.

About Hedgehog Insights– We are data analytics service provider . We offer analysis of business data. Be it daily operations, cash flows, website data or ones from social media, we analyze all of them together, on one platform, draw, connections, correlations, causes and offer our clients set of easily actionable insights. Tools are really in abundance and we are not selling another expensive one, all that we are selling is a promise that our analysts will offer modern and conventional analytics , work with you and help you see hidden opportunities from your business data.Schedule a free consultation

How to make analytics well within reach for Small, Micro and Medium scale Business- Our Idea

A popular belief is –analytics and data research is actually for large businesses. Truth is , large  businesses would  have never got that far had they not started analytics as small businesses.”

Scottish writer and poet , in 1910 Andrew Lang said , he uses statistics as a drunken man uses lampposts—for support rather than illumination. Decades later, businesses still use data primarily as a support to decision making. That is  perhaps  the most important and high return functional of  data.

In the words of Max Shron , the analysis of  data really unfolds like a story-similar to a story, a project will always include description on the situation, a rigorous analysis of the need , a motivated drive to conquer the need, hopefully, a happily-ever-after ending (the outcome).

Analytics and business research is a part and parcel of  every business. Standing at crossroads of  decisions and  determined  to make  no  mistake  an entrepreneur always will look into some  insights, tips, research online and consult experts before the  next  step.

A popular belief is –analytics and data research is actually for large businesses. Truth is , large  businesses would  have never got that far had they not started analytics as small businesses.We and our team of data analyst are here to help your small business grow.

Our Idea – Going back to the story-analogy- a data analytics project,  as we  propose at Hedgehog Insights is taking our clients through understanding data , defining what it means to business and executing a process  to see outcomes .

Our Idea

Data Definition  is essentially understanding..

The Need: What specific needs could be addressed by intelligently using data? What will this project accomplish that was impossible before?

Data Sources- Where is this data located. What data should be considered for different business requirements.

Envisioning results- What will meeting the need with data look like? Is it possible to mock up the final result? What is the logic behind the solution?

Linking to Outcome: How and by whom will the result be used and integrated into the company? How will the success of the project be measured?

Analytics Project Execution-

Our  analysts work in association with the client business, co-ordinates with team members and business owners to execute an analytics project and successfully achieve the desired results. The steps in this are:

Designing the Basic framework- Drafting the data conversion concept, overall ideas  about business data  outcomes

Preparing Data for analysis – Data analysis is really about digging deep to brainstorm and reveal insights. But before that it is essential we have the tools ready. Some of the most popular tools we use are

  • Filtering- we know how to cut the noise, to focus  on the most interesting topic.

  • Sorting- Arranging data in order- for some nature, or  class etc.

  • Grouping & Segmentation- summarizing data and  segmenting different  group

  • Visualizing- Bringing data  to life, having data mindfully aesthetic. We are naturally attracted to beauty, so why not make a chart as pretty as possible? Aesthetics can also help make the charts easier to comprehend—pinpointing the resulting action.

 

Analytics- This really involves making sense of  the data. Using techniques and  processes to glean out actionable insights

“Numerical quantities focus on expected values, graphical summaries on unexpected values,”

said mathematician John Tukey. To look beyond  the obvious , we employ innovative thinking into data  with a  focus on

  • Trends and Patterns more  than data points

  • Comparison across segments, time periods matrices

  • Discovering strong relationships using, causal analysis.correlations, statistical test, multivariate analysis etc.

  • Working with multiple perspectives- Data  from different sources bring in different information , add an extra dimension. Having all data from diversified sources analysed on a unified platform to solve a specific business issue, makes analysis extremely robust, reliable and  focused . That’s is adding value to client businesses.

We  hope  these  services  together , make analytics and data  support well within the  reach of  small, micro and  medium scale  businesses and offers  the surest and quickest path to growth. This is our overall idea. We have categories levels of services based on business scale of operation. For details on our services specific to each scale please visit

Contact us for more information.

When is the last time you fed them what they love?

Good newsletter feed-Newsletter analytics

How you know you have fed them well

When is the last time you fed them what they love? Newsletter analytics is a little more than clicks and opens. In case you are getting just that from your e-mailing vendor, you are missing out on a bigger and more important chunk of information. Here is a guide to how you can make the most of newsletters yourself ..

Type newsletter analytics on your search engine. Some 4.5 million records show up in 0.22 seconds. Bravo! Now try checking the links until your hand goes numb and you will see they speak about tracking your newsletter. Your search page is filled with vendors offering tools to track your newsletter. May be you already have one or maybe you will go with one like our clients. It’s trilling to see the count who received your little electronic pack of ‘big –bang-theories’, count who opened to glance through, count who clicked to read more and count who (alas) missed your newsletter.  You will get over this soon and realize it’s all too bogus and often dumb. Like our clients, who almost felt tortured with this recurring dump of counts, matching lumps of recurring expenditure? Why? Because those counts never tell you how much sales you got, cost you could reduce, or social rewards (likes & shares) you’ve earned.  Well I will not repeat ‘How great a king is content’ or ‘how awesome are calls to action’. I will instead draw your attention to 3 steps to compare your current feeds Vs what you should .Just 3 Steps.

    1. Segment topics you have used so far- categorize those to as basic levels as possible. Let’s explain with an example.  Take any story. Say it’s on ‘The Importance of Newsletter Analytics’. At a higher level it’s about marketing. But as you dissect more, you will know it’s about online marketing, direct email communication, analytics etc. It’s like placing it exactly where it belongs, in the right folder.  Now take each issue and repeat this for each of the topics. By the time you are done for all issues you will have a small database with great info in store? Why? Read on ..

   2, Map your counts of opens and clicks. The counts of opens and clicks you’ve had so far will come to  a real use now. You will know what ‘exactly/precisely’ have been accepted, what was dumped and what did not matter to your audience. So it may reveal something you had  been working  hard for long , really  does not  interest them , but a piece of story that’s been  lying  on your desk , was better. Isn’t that a goldmine of information? Sure it is. It indicates popularity of one topic over another, and their trends over months and years.

 You may also be using calls to action, which is obviously different from just feeding in   stories. It requires the reader to take an action and therefore there is a little more than just mapping topics to clicks. Read on this http://bit.ly/1msuzwn

  3.     Check with the market:  You have got a data base . You know how each topic performed now  check with the market. Research. Rummage the internet , dive into books/journals ,get hands on  trends and syndicated  studies that tells what your target  audience  actually prefer. Compare it with what you have  been feeding  and  know  where  you stand. Are you at par with their area of  interest or  falling out.  Customize your newsletter  strategy. Align it  to your business goals . And…all set to start afresh.

With such comparisons over a period , you will have a good  knowledge about  what works and  what does not .Thereby you’ve  have  put  yourself and  your  business in a very advantageous position to make  the most of  your newsletter and  all the  time money and effort you have  invested.

About Hedgehog Insights We are data analytics service provider . We offer analysis of business data. Be it daily operations,  cash flows, website data or ones from  social media, we analyze all of them together, on one platform, draw, connections, correlations, causes and offer our clients  set of easily actionable insights. Tools are really in abundance and we are not selling another expensive one, all that we are selling is a promise that our analysts  will offer modern and  conventional analytics , work with you and help you see hidden opportunities from your business data. Schedule a free consultation .

The 20:20:60 rule to make analytics work for your business

2.2.6 rules

 

The moment anyone asks you to use some data analytics  in your business what is it that clouds your mind? Typically – What’s is in it  for me , how will it  affect my business? Yes,  it is not just money or  effort or  time invested , it is  about returns. While we all know that returns have paved path for a business to grow from good to great, we still doubt. Its natural and its precisely the first stumbling block  in using analytics for business. There are two more , this post talks about. You need to work on these and  invest a certain amount of  your resources (effort, time, money)  to make analytics work for  you.This  break up based on all resources used- money and monetized effort and  time spent . So here is the mantra:

Two parts to believing in it 2 parts to buying a tool , 6 parts to a real analysts who’ll not make you fool.

That’s right! It’s the 20:20:60 rule.

 20% of your Efforts  in trusting analytics will help.  It’s about a mentality of the decision makers , and manager of business that insights  from data are a crucial component of choosing the right plan and  strategy for  business .  Within small and midsized businesses , so far, they’ve relied on best guess, experience and gut  feeling .While  there is  nothing wrong about it, its certainly not  the  only path for growth hungry businesses. When up against other competitors   on a  bigger platform, there needs  to be some numerical basis  to that  decision you make or opportunities you pursue to stay ahead of competition.   Almost 60% of  managers across the globe strongly agree analytics is important for  business growth .The  small and midzed businesses obviously share a  much lesser pie. A manager can easily  know if or  not he is making the most with his business data. A lot of this can be won with a shift in culture – the culture of using  insights from analytics in daily decision making.

20%  of  your resources in  Buying a tool: Its  not  just about money but some effort  as well in choosing  the right tool to use. The market offers a long list , varying in  range of features and cost- but few are great. Even fewer offer a complete analytics of  your business data. Some collect  website  data ,others  concentrate on market insights and  competitor analysis. For  small  business, who look for  flexibility with frequently changing  game plan, it is  best to invest less . A shortlist of most recommended analytics tools can be  found  in our  previous post.  Over time , even if you are ready to invest a  pot of money in tools, its  important you act wise. Go through a know-how to choose  the  right tool and  vendors.

Last and least unimportant…

60% of  your resources in the Analyst.  At the end of  the day analytics is  about analysts. Machines and  tools can help you collect data . And, that’s just the  starting point of analytics.  To have insights to act on , you need human  analysts with planet  size  brains , to dig out great informative tips. Choose an analyst, wisely and invest liberally. A tool mostly gives only one approach to gauge your  business performance and  that too with few basic matrices. Please understand- it’s after all a tool.  Google Analytics can only offer  analysis of  website/app  data , while Compete give yours and competitors. Nothings  wrong about  that, in fact it is  good to have a targeted tool. But often questions remain unanswered – the  whys and what s , and  what else keep growing endlessly. And that’s when a analyst comes  to rescue– combines all  different  silos of data and helps make sense of  it  together so that  you can get a complete picture . The importance of an analyst to make analytics work can never be overestimated and  there it makes one inseparable component of   Hedgehog insights  four-fold  value proposition.

Few words before closing – 20:20:60 rule is tested and proved for success. Expert analysts within Hedgehog Insights, researched and  designed it  for the benefit of   all those who care to take our services seriously. Like a great recipe, that is best prepared with  right ingredients in right quantity, data analytics too, demands a combination of analysis , attitudes and investment and  the rule proves it  has all. 

About Hedgehog Insights–  We are data analytics service provider . We offer analysis of business data. Be it daily operations,  cash flows, website data or ones from  social media, we analyze all of them together, on one platform, draw, connections, correlations, causes and offer our clients  set of easily actionable insights. Tools are really in abundance and we are not selling another expensive one, all that we are selling is a promise that our analysts  will offer modern and  conventional analytics , work with you and help you see hidden opportunities from your business data. Schedule a free consultation .