Christopher Penn, VP of Marketing Technology at SHIFT Communications kicked off the morning with a question on “what is big data?”. Referencing Tom Webster, Edison Research, “Any data that you don’t have a story for or doesn't fit on an Excel spreadsheet.” But how do we store all this stuff and what does this stuff tell us? Join MassTLC’s Big Data group for answers to the first question, but today’s marketing session tackled the 2nd question – what do we need to look at and how? Christopher discussed 3 reasons why data-driven marketing fails; 1. Asking bad questions of good data 2. Having the wrong focus 3. Assuming what = why. Christopher’s presentation can be found here.
Next Raj Vysetty, Manager e-commerce & Analytics, at DYN presented three classes of analytics:
1. Known-Known’s = reporting
2. Known-Unknown’s = analysis
3. Unknown-Unknown’s = exploration
Raj shared DYN’s data sources and tools including Google analytics, Zuora, salesforce.com and SimplyMeasured for social data. Some of the more strategic metrics DYN looks at: % of revenue vs % of customers, time to upsell contracts, discounting vs. monthly price and cross-sell ratio. Raj’s presentation can be found here.