Lessons Learned: Importance of Business Intelligence and Why every organization need a BI Tool and Team?

This article is short briefing on the latest tools and technologies in BI. The Story says why we need a BI Tool and how it can be useful to the Organization.             
 
A Small Story about our situation before I proceed to the main context! There is not affordable money for marketing this month and we left out with very smaller budget comparing past monthly budget. But we still hold the responsibility for the company to hit the target for this Month :) That’s a challenge!
 
So I have been thinking a lot for an Idea, Strategy to achieve the forecast number without a spending much money and the answer looks like
Focus on existing customer by communicate with them through low cost channel and efficiently
Analyze them deeply this time than ever & tailor the content for them
 
The above was the only plan blinking in My Mind for now. So understanding that I need to analyze my customers and think differently, the only resource is past data of those user’s behaviors.
So I begin analyzing data and there was honest thinking
“You are not Data Scientist or Master of Data Analyze and… you going to do the same way how you do in the past. Hmmm… I need to do it like master” So was digging the topic on data analyze by Googling and the result is Wikipedia.
 
Stop the Story. It Started like the below.
DATA ANALYZE: (Understand the Basic first)
Under Data Analyze, there are different terms with slightly different meaning, 
  1. Data Mining: Particular data analysis technique focused on modelling and knowledge discovery of Predictive
  1. Business Intelligence: Cover data analysis by relies heavily on aggregation & Focused on business Information
  1. Statistical Analysis has 3 Types:
  • Descriptive Statistics
  • Exploratory Data analyze(EDA): Focused on discovering new features in the data
  • Confirmatory Data Analyze(CDA): Is confirming or Falsifying existing hypothesis
  1. Predictive Analytics: Focused on Statistical or structural model for predictive forecasting or classification of data
 
So was clear about the definition and basics before researching deeply and concluded that I need to focus on Business Intelligence to find opportunities through business information. I started Googling again about Business Intelligence, Luckily i got a very insighful article named “BI 2.0 for the CIO – Chief Intelligence Office” from Analytics8.com (Thank you guys! you gave me
Insight full of learnings).
 
Below the Lessons learned from Analytics8.com about Business Intelligence: (Learn it)
This article is short briefing on the latest tools and technologies in BI (I mixed up the article and my situations)
“Business Intelligence is a collection of tools and techniques to provide an experience that gets the right information into the hands of the people who need it in whatever the format they want in, and as quickly as they can ask the question.” – Analytics8.com
We need to connect the below and provide an experience to the people:
  1. Cloud BI
  2. Mobile BI
  3. Data Discovery
  4. Big Data
 
The article start by advising that organization needs to builds solid data infrastructure could be key for the long-term ability to react quickly to the fast-changing data needs for organization.
 
The Problem: (why it is important?)
Every organization need a solid data infrastructure, So the data could be available to all users in an organization and The most demanding users (Organization people) will often need more information, ignoring the most demanding info is a big mistake. (I experienced people meet and disappointed with this Kind of situation and everyone need to depend on IT-Dept for the information)
 
So building a solid data nfrastructure can help business users to do it (or try to do it) with or without the blessing of IT. 
So what was blocking business to achieve this? The barrier is building comprehensive data warehouses is time consuming and costly. But in recent years, the technology is breaking down the time and cost barrier. Options like SAAS or cloud based data warehouse reduces the cost, Also mobile BI and data discovery tools provide more value to business more quickly than ever.
So why the companies is not starting the process to achieve this? Once build a data warehouse, maintaining it can be a challenge as often data warehouses turn into “data landfills” with conflicting data and little institutional knowledge of the data in the warehouse.
So what we can do? The way successful companies keep their corporate data from becoming a data landfill is to establish, maintain a BI Program and that it is led by Senior Executives (Who already have the knowledge of the organization with medium IT knowledge. So they can understand things and connect easily) and Experienced technicians to maintain a long-term BI without data landfills
So one BI tool can’t one-size-fits-all. As all users won’t need high-end analysis tool and forcing them to use the tool for simple report (that can be emailed to them on a periodic basis or access to simple online reports) is not a good idea.
That article provides a comprehensive list of BI tools and other Analysis tool which can helpful to all the users for all type of requirements.
  • Use of a data discovery and Visualization tool like QlikView or Tableau.
  • Use of advanced analytical tools like SAS, SPSS or R.
  • Enhanced operational  reporting tools like Crystal Reports pr Microsoft SSRS
  • Special tools for tasks like budgeting and planning, consolidations,etc.
  • Direct access to data via ODBC, JDBC,etc
  • Access to external data such as social Media (Social Media Analytics like Sproutsocial Sysomos)
  • Enterprise-class administration tools offered by SAP BI or Cognos
  • Monarch, from Datawatch offers utilities to access types of data not easily accessible (Like PDF files)
  • “Information Builders” has connectors for nearly every platform and application
  • Rjmetrics (Can connect nearly all data and create charts combining different data, Mostly used to analyze marketing data like LTV, AOV, cohorts, a monitoring tools for management)
There are hundreds of Tools and technologies available to help a CIO and business users but focusing on specific requirements by understand the organization and the users is main important thing to consider.
What Next?
I will be writing more about the important tools (tableau & Rjmetrics) specifically and how I used this tools to achieve my Company Target very soon on the next article. 
 
Thanks for reading the article and welcome your thoughts on recommended tools and how your favorite BI is helpful for you.

[UPDATE] Facebook Released Multi-Product ads & Deep Level-User Defined Retargeting

Multi-Product ads

As Marketers have been getting good results from Dynamic Product Display ads through Google Display ads and now thankfully its available in Facebook Too. See the image below from Facebook Portal which shows multi-Product ads. This feature is only available through Ads API (Only 3rd party Ads API Providers) for now, It will be rolled out on all its ads interface within this year.

Each product highlighted will have its own image, description and click target.

Deep Level-User Defined Retargeting

One type of Custom Audience in Facebook is Retargeting which was previously used to Retarget the users who has visited the whole website or Particular Pages.

Now releasing the deep targeting, Advertisers are able to target the users by Past Visitor behavior like their Purchase history, Products added or Any Custom Events we defined.

Use Case of this 2 Features:

Lets say we have 2000 Visitors on Particular Category (Assume = Luxury Bags) and there is only Less Purchase on that category for sometime (Might be they don’t like the current products or price is higher). What we can do?

From Old Custom Audience:

-  Using this Custom Audience, we create Audience [Visited Page = http://www.onlineshop.com/Luxury

- We Retarget them with Single Static [Banner giving away Additional Offer to make them Purchase ]

 

From New Custom Audience:

- Using this Custom Audience, we can create Audience Filtering who have not purchased [LuxuryBags][LuxuryWatches] 

- Create Dynamic Product ads showing different Types of

Bags which is under $100

Bags which is above $100

Bags which has particular Style

 

So we can try Different type of Multi-Product ads and filtering the users by their past Behavior and make use of this new Feature.. What do you think about this ?

Source Link: Facebook Announcement

 

 

Desks of the Rich and Famous: Workspaces of Highly Creative People

jk:

save this in my blog for inpiration!

Originally posted on Flavorwire:

Ever wondered how your favorite artist gets their work done? No, we mean, exactly how. As in, if we use the same pen Hemingway used, and the same kind of paper, and at the same time of day, maybe we’ll… nevermind. Regardless of pen type, there is something fascinating about the artist’s desk, and like anything else, everyone will draw their own far-reaching conclusions. In particular, it seems like everyone has their own opinion about what the state of someone’s workspace “means,” and we guess it has more to do with what the adage-makers own desks looked like than anything else. Whether a cluttered desk means a cluttered mind, or whether a cluttered desk just means a cluttered desk, or whether a messy desk is a sign of genius, we don’t know. But be their desks cluttered or clean, these creative people are definitely on this side of brilliant. Indulge…

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The importance of DNA & leadership in a organization!

#Thoughts
DNA is important in a organization. Real success in a organization or a country happens Only when it has a good leader. A good leader is not the one who pulls everyone and take the lead. It’s people who get inspired, trust and then follow  the leader decision. That’s the starting of the DNA. Leader become the face of the company, so the  people in same DNA

I always try to observe things differently(dunno why :-) ),
I analyzed the growth of the companies on its each CEO’s period.

Took Apple, Dell, Microsoft, infosys, amazon &groupon.
For this companies, the company has gradual growth through only one face, single DNA cause of a single inspiring leader. Once in linked stories, CEO of , Rakutan.com mentioned in his article how Nissan and Apple when they got the face (Carlos Ghosn & Steve jobs)

From my leanings and understanding, I have some thoughts how to shape the people’s into a single DNA.

1. Listen to everyone, from your top hierarchy to the bottom.

2. Convey your aim, goal and objectives to everyone

3. Involve everyone in the project and make them feel that they are really doing something which makes them interesting (Evernote.com founder when he do meetings,  used to invite  One staff who is not related to the meeting to make them involve and get insights)

4. When someone comes with a idea, sit n discuss with them, get the reason behind the idea, evaluate and tell whether it can provide good thing to business. If you are not sure, get assistance from others. Don’t act like you know everything. Let someone teach you something :-) what if the teach is something new. Give a try, you will really smile…

4. Don’t discourage your staffs..Instead show how to make it happen. Hence they realize their ability.

5. Appreciate ppl’s small work, even the billion money can’t make your ppl happy than appreciating. Try this to any staff tomorrow and see the result!

6. Treat everyone equally

7.   What do you think ?

What were the most ridiculous startup ideas that eventually became successful?

#aam #admi #party

Answer by Neha Jha:

Right now, I can't think of a better example than this: India's first crowd funded Political startup: Aam Aadmi Party.

  • Often poked fun at by politicians, the 45-year-old former IITian turned civil servant, also a Ramon Magsaysay award winner (for activating India’s Right to Information movement at the grassroots level) was challenged by the ruling party in the government  — not to criticize the political system as an outsider but join it and cleanse it from within. The IITian was reluctant to get into the dirty "business" of politics.

Engineers and startups are slowly becoming synonymous in India.

  • After the government rejected the Lokpal bill draft that he and his team had worked on, Congress and other market players challenged them to join politics, win elections and come to Parliament to get what they wanted i.e root out corruption and get the Jan Lokpal Bill passed. In business terms it would roughly translate to: The monopoly in the market by an established powerful business that refuses to cater to the needs of the masses because it is not profitable.
  • He accepted the challenge and enters the political market with his own business venture, a new political party "Aam Aadmi Party" in New Delhi on 2 October 2012.

The launch of AAP, that would later become a brand.

  • The idea was mocked at and ridiculed as getting into politics was something that people thought won't find many takers and experts speculated that it would be difficult for AAP (Aam Aadmi Party) to capture significant market share, for the Indian politics being dominated by two established businesses (political parties): BJP and Congress.
  • To top it, they didn't have funds for the operations. But the CEO and founder Arvind Kejriwal believed that a good market segment exists whose needs were not being satisfied by the current players in the political market.

The usual troubles of every entrepreneur!

  • It was an alternate politics (business idea) and they were trying to break the norms, AAP couldn't have used the conventional methods of generating funds i.e use funding from the corporates (the black money that usually funds the rest of the political parties in India, the major factor that inbreeds corruption).
    Since, it was more of a social entrepreneurial idea, the seedfund was provided by a few wealthy NRI supporters. But the scale at which the elections are contested in India, the money wasn't enough to cover even the marketing costs (campaign costs).
  • The party finds a solution to that. Calls for crowd funding from the Indian citizens. The aggressive hunt for funds started with mass emails to over five thousand people every day, convincing people to be a stakeholder in the “politics of change”. The idea was still strange to the spectators in the market.

The product AAP offered what rest of the businesses in the market didn't, transparency and honesty became a USP!

  • Delhi was chosen as the test market because it is quite close to culturally and geographically representing India. Symbolically, since the parliament is in Delhi, the change had to begin from the capital.
  • Already a smart brand name, the brand logo of a "broom" was adopted  — that symbolized their business Objective, Vision and Mission: clean dirt from the Indian politics.
  • To ensure the trust of the people and transparency they listed the source of funds on their website. It even awarded certificates as proof of donation. The moment one made a contribution the details become online. This gave an edge and a moral upper hand to the product AAP, the fact that anybody can see the details of its contributors on its website. Business values and ethics were followed.

3 A's: Accountability, Affordability and Acceptability

From the day it was formed, the party managed to mobilise over Rs.10.49 crore. As much as 67 per cent of the fund was collected online.

After they had enough money to cover their campaign costs they appealed to the investors to stop as they had generated enough funds.

  • The field work was made possible with the team work of thousands of volunteers who came together for one common Organisational goal. The CEO did a good job in keeping the team motivated to deliver the desired results!

  • The regional managers were recruited under strict scrutiny and evaluation i.e ticket to contest elections was given to only those who could fit in the brand AAP,  social workers, soldiers, journalists, Delhi University professors and people who have fought against the system, the everyday usual people with clean image. I would call this smart efficient Human resource management (or talent acquisition).

  • The marketing of the brand was done with a budget far less than the established businesses. The effective means of marketing were deployed, and unconventional means were used. From Direct marketing (door to door campaign), to social media and the PR that was generated through word of mouth which in turn generated immense goodwill that ultimately helped the CEO and founder Kejriwal in snapping the 15-year rule of its "competitor" and incumbent Chief Minister Sheila Dixit. Adding to her misery was the defeat in her own turf — New Delhi constituency — by a huge margin of 25,864 votes. AAP established itself as the most promising startup in the political market.

  • Market research was valuable. Positive results in the test market will now facilitate the roll out of the brand AAP on a National level.

Ms. Dixit, who once termed Kejriwal's political party as a nonsense idea (business) and that people who would vote (invest and support) for his party would be wasting their valuable vote (resource). The startup that went ahead and

  • Successfully uprooted the existing (political) domination of the established businesses
  • Created a new market share for unconventional politics.
  • Exploited the untapped potential of the common man (usually dormant in politics) and the youth.
  • Ended the two party monopoly by giving people an option other than the conventional brands in the market.
  • Established a brand that gave hope to millions.
  • Proved right the most risky rule in business of  Bigger the risk, the bigger the profit.
  • Gave an interesting case study to the business students that not only how one man can make a difference but make a brand from scratch.
  • Inspire next gen Social entrepreneurs.

  • Proved that the Indian consumer is a smart one who is unbiased towards the segmentation of the market based on caste, religion, geography and other factors. A good product is what it demands.

  • Taught a good lesson to the established powerful businesses that anyone (common man) who is determined, persistent and has vision can change the rules of the market.
  • Most importantly, a kick ass brand positioning for the founder Mr. Kejriwal and his brand AAP that will facilitate its further expansion: Never ever mess with a badass engineer, he will not necessarily move to Silicon Valley.

EDIT 1: I have answered the question perceiving it as "startup IDEAS that eventually became successful" not "startups that eventually became successful", the question clearly marks the coming to life of an idea as a benchmark of success.

EDIT 2:  It is "A2A", and I have answered the question to best of my knowledge and interpretation, (of course, I am not Philip Kotler.) Also, it is not a political answer but an analogy.

View Answer on Quora

Analytics tools a advertiser and Social Media Manager should be proficient of?

Google Analytics

I think, i no need to explain more about this as you may aware of that
Advanced usage of Ganalytics is
– Goals
– Multi-Channel Funnel Setup
– Ecommerce Performance
– Event Tracking
– Realtime Monitoring
– Setup Dashboard (Try to setup custom dashboard, it will be awsome)

- Experiment 

Measurely

- Called as Content Marketing Metrics and Social Discovery
– Can find the Medium (Facebook, Twitter.etc) which is good for your business
– Social Discovery: Who is your Influencer, whome to follow, whom to reply and kind of engagement recommendation

Measurely- content stats

Bitly

- I use this in Day to Day life, Heavily in mobile to monitor the URL click stats as i work around lot of Domain ads in Facebook.

- With Google Url builder and Google Analytics, you can deeply analyze which PPC campaign gives you high performace.

- With Google URL builder, you can create many bitly links for single URL. For example, if you are running three different campaign for Single Destination ? how can you identify which link got you traffic or your objective? So using different links, you can identify easily.

bitly stats

cyfe

- Called as All in one Dashboard.

Because Under one dashboard, you can monitor everything you need like social Media stats, Web site traffic, Ad performance, Contest Performance, Email Marketing.,etc

I have recently came across this and highly productive and easy to monitor whole things.

cyfe

Kissmetrics

Honestly, not heavily used this but came across Marketing Professionals speak about this Product as a useful one. May be give a try.

MS EXCEL

- if you ask me, one of the must greatest utility tool anyone should be proficient? is MS Excel. It has huge number of functions any can use it.

- I use it for many process from Editorial planning to Execution. Pivot Charts, Sort&Filter, Calculations, Report Making.

- You can analyze any datas without any other tools using Ms Excel only.

What are all Tools available for running Social Media Contest-Promotion?

Shortstack

- Cost Effective Provider

- Easy interface to create apps

- Lot of templates available to get started

- Every month they provide a Resources as a PDF to leverage your business. I have very much benefitted from their resources.

Agorapulse

Agorapulse is one of the leader in market in Providing Facebook custom apps, Contest App and Promotion App and competitor benchmark kind of that.

They are very good at providing customer service. I am fan of their customer service

agorapu

Iframehost

Its a free Iframe facebook app integrater provider.

You can custom app to you facebook Page without any branding of the provider. If you are a better programmer, it will be very helpful. In my experience,

- i try to create simple page like Contact form, Map, Restaurent menus or Product description page

- And store those in my webserver and get the link of stored address (example.com/fbcontactform.html)

- Therby, i will integrate those in Facebook using this Iframehost as a Iframetab

What are the Advertising Tools a marketer should be Proficient of?

Facebook Power Editor

- Bulk Changes(Audience, Creative, Placement)

- Easy Duplicates of Campaigns and Ads

- Bulk Uploads using Excel Template

- Adding Labels to Campaigns to Classify the campaigns

- Premium Attributes to ads like Placement and Bidding

- Use Saved Audiences to create reusable audience for future audience,

- Use Audiences to upload your email database or Phone numbers of your existing customers

- Use Unpublished Posts from the Editor

- For Premium ads like Mobile App installs, Open Graph sponsored stories

Google Ads Editor

-  Bulk Changes

- Work Offline

- Copying and modifying large number of Selected sections

Bing Editor

- User Interface (Clean)

- Copy to CSV

- Can save time by using previously designed campaigns/ad groups

- You can control quality by using pre-optimized campaign settings

- You can conduct more experiments by using duplicated ad groups with slight changes

- IMPORT and EXPORT only transfer data between online advertising accounts/custom files and Bing Ads Editor’s local database in your PC

————————-

I am writing a series of articles which I learned in my way. I am preparing this series to help other marketers like me who are in early stage in Marketing and Advertising. So if you have any other feedbacks and tips to enhance this article, please contribute. It may be useful to others.

I will try update every articles in this series to Latest Version. Thanks for leaving your contribution here :)