Tag: DMAI

When Your KPIs Aren’t Really KPIs

One question I get asked a lot is what should someone do when they know the data they are reporting and/or using in their analysis is not the best data to available?

No matter what part of the business you work in, the first thing to do is to define the current Key Performance Indicators (KPIs) being used in decision-making.  Often right off the bat, some of the KPIs being reported aren’t even being used.

You can do a simple survey, asking end users to rank in order of importance the KPIs they get. Also ask if the ones at the bottom are even useful or should they be eliminated if no one is using them.

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At the same time you should be working on understanding what computations go into each KPI. Often we just do simple counts, total and averages that mask more important data. On the flip side, we tend to over complicate things with extravagant weighing and scoring. Either way, we need to make sure we know exactly what is being reported and how does the final data point come to its end state.

The next step is to look at the data architecture to make sure there is nothing happening upstream that might impact the data we are using in the KPIs. Before making changes to the KPIs we want to have the full view of what happens before the data gets to the end user.

Now we are at the point where we can start experimenting. What happens when we swap out data points? Or if we change a variable in a calculation? Or we pull the data from a different source? The questions are endless. Pick a few, make some changes in a test environment and start sharing the updated KPI data. See if it has more value with the end users.

Again, this shouldn’t be hard. But of course in many organizations a lot of consequences can result from a simple change to just one KPI. Spreadsheets may have to be reformatted, review processes may have to be updated, dashboards may have to be redesigned. But in the end, what is more important… making decisions with crappy data or setting a standard to let the reporting process evolve as the business evolves?

This come back to my point earlier, changing KPIs is as much sales as it is analysis… that you have to be ready to share a story, back it up with data, and really influence the minds of senior management that updating the KPIs makes good business sense.

If you are at a point where you are trying to figure out what KPIs aren’t working anymore or you need help is building a business case to change some KPIs, let me know. I’m here to help.

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General Analytics – Analytics is the application of using data and analysis to discover patterns in data. DMAIPH specializes in empowering and enabling leaders, managers, professionals and students with a mastery of analytics fundamentals. To this end we have parterned with Ariva Events Management/Ariva Academy to offer a wide range of analytics themed trainings across the Philippines. Contact DMAIPH now at analytics@dmaiph.com or connect with me directly to find out what we can do to help you acquire the analytics mastery you and your organization need to be successful in today’s data-driven global marketplace.

Sharing My Analytics Story

Sometimes I get asked to share my analytics story. It’s pretty awesome when that happens.

I’ve have gotten so accustomed to talking about my analytics story that I do speaking engagements, public training seminars and write this blog. Talking about analytics and sharing how I have and do use data to facilitate data-driven decision-making is my favorite thing to do.

A lot of people would like to share their analytics story, but they never feel like they are in the right place to do so.

Some are not confident enough in what they are doing and afraid of looking like they don’t know what they are doing. Well, when it comes to analytics most of us don’t always know what they are doing… the whole point of analytics is discovery and looking outside the box.

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Other people chose not to share their analytics stories because they don’t have a complete understanding of analytics in general. They know their niche, whatever they are in charge of back at the office. But they are not part of the bigger data picture in their company.

I have also find that others don’t share their analytics stories because they think what they are doing is to simple or not relevant to a broader conversation. Well, hardly anyone does the same thing as someone else when it comes to working with data. How we use data in our jobs is a individual as how we dress in the morning.

SO, when I speak, or present or write, I do my best to get others to participate. I love to learn about what challenges people are having and help them come up with solutions. A lot of analytics trainings are follow this method or use this technology, but few actually solve any problems. They give you tools but no instructions on how to use them in context of your own data environment.

I have found that the best way to build better reports is to talk about them. The quickest way to build engagement for more analytics is to talk about how to use analytics.

It’s all about taking the data in your head and constructing engaging conversations. That’s why in every opportunity I have to talk about analytics, I finish talking about how to market your analysis and how to make it enchanting to your audience.

I’ll be doing a training in Ortigas this coming June 15 and a seminar on June 22. If you are interested in sharing your story and coming up with some solutions to your data challenges, I’d be happy to see you there.

Who Is Best In Your Organization When It Comes To Analytics?

I am currently sharing a survey asking my LinkedIn connections about what part of their business is the most successful when it comes to using analytics to drive decision-making.

If by chance you follow my blog, but don’t get my LinkedIn e-mails. Here is the survey:

As you may know, I have been working on a book about analytics and the data-driven cultures of companies who successfully use analytics. I have a quick question to ask you that will help me in my research.

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Of the following business lines, which one is the business line in your organization that in your opinion best uses analytics when making key business decisions?  (Pick One)

  1. Sales & Business Development
  2. Marketing
  3. Operations
  4. Supply Chain/Inventory
  5. Legal, Risk & Compliance
  6. Customer Service
  7. Human Resources/Recruitment
  8. Strategic Planning
  9. No one really uses analytics in decision-making effectively.

Thanks for taking the time to reply, it will be really helpful.

Sincerely,

Daniel Meyer, Analytics Guru

danmeyer@dmaiph.com

 

I’d like to validate what my experience tells me are the areas who generally best do analytics. I’m also looking forward to finding out there people see as general weak spots.

I’ll be happy to share the overall results of the survey once it is complete.

Conversation About the Reporting Mess

The other day I was hanging out with some friends who work for a company I used to work for and they were talking about challenges they were having with some reports. As I listened, images started filling my mind of the challenges so many companies face. Not having a good data strategy within a business is a killer to both productivity and morale, opens up a company to extra risk and blinds people to opportunities.

The first problem I suggested they tackle is validating their current Key Performance Indicators (KPIs). They need to analyze what is currently being reported to find out what is not useful to the business in making educated decisions.

The second problem is that the people who “own” the data don’t like sharing.  The place where I’d start with this challenges is mapping out the data flow. It would be really powerful to illustrate the different touch points within the flow and most importantly where things get stuck. Then it’s a matter of explaining the big picture to those who might be causing slowdowns.

The third problem is that everyone is too busy to sit down and figure out how to fix things. To solve this challenge, we will need to get everyone on the same page and agree to a common data strategy. This will not be a one and done meeting, but a series of conversations.

So to solve this, my friends need to start with asking questions about what do people really need. In many cases I would expect the answer is no. This is where knowing the architecture comes in handy, so you know where the data lives that is currently missing. After this it’s a matter of storytelling and influencing the “owners” of the data to understand how access to key data would generate more powerful KPIs which would allow everyone to get on the same page.

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It sounds pretty easy and it should be. The ultimate challenge is really getting people to all agree on how to use the data. In some cases, it might take senior management support to get everyone to play nice. And my friends will need data to support their argument on how thing can be better and put some numbers behind their vision of a stronger data-driven culture.

This is where I come in. When inside politics and no one has time to lead the charge, an outside consultant might be the best solution. An expert in not just identifying the challenges and sharing findings, but someone who can actually help facilitate cultural change. People who are equally skilled in both the technical world of analytics and the social world of team building are pretty rare birds.

If you are in a situation like my friends, then I’m ready to help you like I helped them.

Analytics Consulting – DMAIPH specializes in a variety of analytics consulting solutions designed to empower analysts, managers and leaders with the tools needed for more data-driven decision-making. We have helped dozens of companies get more analytics in their business. Contact DMAIPH now at analytics@dmaiph.com or connect with me directly so we can tailor an analytics solution made just for your unique requirements.

Data Analytics Training on Nov 22

Just sharing some details on an upcoming training I’ll be delivering.

This innovative and one of a kind workshop will provide you with easy to
implement strategies to increase your effectiveness in decision- making.

Objectives
– We will start with a basic overview of analytics, current trends in
the field and how analytics is being used here in the Philippines.
– Through a couple of hands on exercises, we will practice finding data,
analyzing it and reporting our findings.
– We will go in depth understand several key components of analytics
including business intelligence, competitive landscaping, data
visualization and business dashboards.
– We conclude the day by taking an assessment of each of our own
business and starting to develop strategies to enhance the analytics
culture in our business.
– Learn more about Big Data and Data Warehousing

Key Topics:
– What is Data Analytics?
– Overview of Data Analytcs in the Philippines
– Self- Assessment of your own analytics
– Finding Data (Mining and Presenting the Data)
– Big Data and Data Warehousing
– Discussion about Descriptive, Predictive and Prescriptive Analytics
– Business Intelligence and Business Dashboards
– Using Data Analytics to Drive Decisions
– Enchant your audience

Group Exercises will focus on mining data from public data sources, working on a marketing strategy based on business analytics and building a business dashboard prototype.

In today’s global marketplace, businesses are challenged with endless streams of data of immense volume, variety and velocity coming from around the world. Having people on your team who can use the data in your business to drive more data based decisions in no longer an added value. It is a fundamental cornerstone of success.

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SEMINAR FEE

PHP 6,000/regular participant inclusive of VAT, training materials
(workbook), am/pm snacks, lunch and certificate of completion

*Group DISCOUNT (Minimum of 5):*

PHP 4,800/ participant inclusive of VAT, training materials (workbook),
am/pm snacks, lunch and certificate of completion.

To register, please call 09177992827 or send an email to info@sonicanalytics.com

Analytics Training – DMAIPH and our partners at Sonic Analytics offer a wide range of analytics centric training solutions for professionals and students via public, in-house, on-site, and academic settings. We tailor each training event to meet the unique needs of the audience. If you need empowerment and skills enhancement to optimize the use of analytics in your organization, we are here to help. Contact DMAIPH now at analytics@dmaiph.com or connect with me directly to set up a free consultation on which of our DMAIPH analytics training solutions is best for you.

DMAIPH Fuels New Businesses Ready For Launch (3 of 3)

The third type of company we can add value too is one ready to launch. You have a great idea, you have the funding, you have an awesome product or service, but you aren’t 100% sure if you have everything you need to get out there and make money. . We can offer our business intelligence package of demographic profiling, competitive landscaping, social media strategy and market assessment. We can also offer virtual staffing support to assist with marketing and operations. Our hybrid staffing solutions will give you access to a very talented work force that is flexible and affordable.

We have shown marked achievement in helping a couple of new businesses get out of the gate successfully.  One client we helped was a mobile app designer who had a great idea, enough capital tyo get started, but little idea on how to really understand the opportunity to make money. In addition, the client was hesitant to take on all the HR work in hiring a team when he had no idea how many people he would need in the short term. We helped them with both.

Using the same methodology, we used with the chiropractor, we conducted a business intelligence assessment to help figure out how to identify customers and where to find them. We also used our home based, hybrid staffing model to hire six people to help the client have get off the ground. Charged with editing pictures for the mobile app site based on set criteria, 24/7, with as close to real time response as possible, the team quickly became a key part of the business strategy.

Another new business we helped get off the ground was someone who wanted to open a call center business in Manila. She was well funded and motivated, but didn’t really know where to start. The client really needed help knowing how to settle on a location and to set up the business. She also need help designing her marketing and social media strategy. So that is where we started.

We developed a social media strategy for the business for both client marketing and employee recruitment. You would be surprised by the number of businesses who still have not figured out an online branding strategy to sell their business.

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In parallel with the social media, we also conducted a business intelligence assessment to help her pin down the location for her to set up the business. Worried about being in a place that was both convenient and not overly saturated by competitor, our data and analysis pointed her to the right place. She has been there for 4 years now, expanded her site twice to accommodate growth, and added several new customers all while having little challenge in recruitment.

If you are thinking of starting a new business, we can help. Let us show you how to use the data around you to make good strategic decisions.

Analytics Consulting – DMAIPH specializes in a variety of analytics consulting solutions designed to empower analysts, managers and leaders with the tools needed for more data-driven decision-making. We have helped dozens of companies get more analytics in their business. Contact DMAIPH now at analytics@dmaiph.com or connect with me directly so we can tailor an analytics solution made just for your unique requirements.

DMAIPH Helps Companies Revitalize Their Business (2 of 3)

The second type of company we have helped successfully is  one looking to revitalize. Profits are down, customer flow has shrunk, product and services aren’t selling like they used too. We can offer our business intelligence package of customer insights, demographic profiling, competitive landscaping and market assessment. We can also offer virtual staffing support to assist with marketing, scheduling and follow-up.

I’d like to share a story about one of our clients who came to us at a crossroads with his business. This client is a chiropractor who was trying to figure out what to do with his business. Having lost 40% of his patient base and seen his revenue drop by 60%. He was at a cross road. He had tried a couple of consultants, spent lots of money and was still heading the wrong direction.

In talking with him, it was clear he had lost touch with his market and was not able to offer a very compelling solution to bring new clients in. We suggested we do a series of business intelligence exercises to help understand more about his business, the opportunity around him and come up with some potential solutions.

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Because he didn’t have a lot of money to waste, we suggested using a team of interns to help keep costs down. It would be a great analytics exercise for the doctor’s practice and for the eager young minds we had been working with.

We dove into the project and came up with the following resources; we built a competitive landscape, constructed a demographic profile and put together a customer insights report. Each one using public data, analysis done by the interns with my guidance and direction, and used Tableau to roll all the data and findings into a dashboard to show the doctor how he’d gotten to the point he was currently at.

After identifying some action items based on our assessment, we then helped the doctor but some into practice and helped him turn his business around successfully.

By employing very curious minds, giving them direction on where to find data and how to analyze it and sharing the data with an open-minded end user, we successfully validated my approach to using analytics to help a small business.  We have done the same for a half dozen other small businesses and can do the same for yours.

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Analytics Consulting – As a founding member of Gloabl Chamber Manila, DMAIPH specializes in a variety of analytics consulting solutions designed to empower analysts, managers and leaders with the tools needed for more data-driven decision-making.

We have helped dozens of companies get more analytics in their business. Contact DMAIPH now at analytics@dmaiph.com or connect with me directly so we can tailor an analytics solution made just for your unique requirements.

DMAIPH is Good at Helping Companies Looking to Expand (1 of 3)

The first type of company we generally get involved with is companies looking to expand. Huge growth is just around the corner and there is a need to staff up quickly,    but given some uncertainty as to how much growth will be needed how soon, you want a little more flexibility in staffing. Our virtual, hybrid staffing solutions will give you access to a very talented work force that is flexible and affordable. We can also assist with developing the expansion strategy with our business intelligence package of demographic profiling, competitive landscaping and market assessment.

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Let me tell you about one of our clients who came to us in expansion mode. We started with six work from home staff who were tasked with adding key words to online auction items. Starting with a small team who would just do a small percentage of the key wording for our client. We quickly found our talent pool was very large and very deep. So we quickly built the team up to a dozen and then 25 and ultimately 50 people. We worked closely with the client at first but over the first six months also built up our own expertise to the point, the client became very hands off.

Work from home positions make a lot of sense for this work as its very independent and easy to assign, track and review. We also got past a lot of challenges with work from home team, but really building the team using social media to connect them and make them feel like part of the larger organization.  This hybrid approach where the employees feel both independent and connected has led to extremely low attrition.

We also found that in the Philippines, there are literally a million former call center employees, with college degrees, good English and the drive to do a good job who left the call center industry to spend more time with family. So our work from home jobs are right in line with their needs.

Things have worked so well, the client has had us add a graphic design team, an email-marketing team, a desktop support team and a customer care team in addition to the key word team. The key word team has added a QA team and a 2nd level support team as well.

From a financial standpoint we helped the client save a lot of money by staffing in multiple locations, added the ability to do 24/7 customer care and never miss a beat with meeting our SLA.

This is the kind of thing we can do for any company looking to expand both rapidly and strategically using our home based, virtual team solution. Just connect with me and I will explain how.

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Analytics Consulting – As a founding member of Gloabl Chamber Manila, DMAIPH specializes in a variety of analytics consulting solutions designed to empower analysts, managers and leaders with the tools needed for more data-driven decision-making.

We have helped dozens of companies get more analytics in their business. Contact DMAIPH now at analytics@dmaiph.com or connect with me directly so we can tailor an analytics solution made just for your unique requirements.

DMAIPH’s Typical Client Profile

I publish and share a lot of content about helping businesses get a better handle on their analytics in order to build a culture of data-driven decision-making. With so many businesses of various shapes and sizes looking to get more out of their data, I get asked a lot what kinds of businesses do we specialize in helping.

In general, I think we can help just about any business with its data analytics, with using data for business decision-making and in building an analytics centric culture.

That said, success often will hinge on a couple of factors.

  1. How is the data acquired and stored? The more structured the data management the easier.
  2. How serious is top level management about using data to make decisions?
  3. Is there a person or a team who really get the theory of how to optimize a business using data?

If all of those are true, it’s a green light for us no matter what the size or type of business.

If 1-2 are true, it is still possible, but we will have to make sure we keep expectation tied to reality.

If none of factors are in place, then I will probably decline the consulting gig. You can save people who don’t really want to save themselves.

Our business plan is to offer analytics solutions in the things we are best at, (1) talking about analytics, (2) consulting on using data in a business strategy and (3) providing data and/or analytics focused, hybrid staffing solutions.

The 3 kinds of businesses we specialize in helping by offering these solutions are

  1. Ready to expand – companies who are about to kick off a period of significant growth in their operations and need data analytics and/or more staff to be successful.
  2. Ready to revitalize – companies who have hit a rough patch and need to better understand where things went wrong and need a road map on how to get back on track.
  3. Ready to launch – start up companies who need to refine their initial business plan based on solid data analysis and/or need staffing solutions to get things rolling.

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So although I feel we can help just about any business when it comes to analytics, these are the 3 types of service we offer to our target market. I will detail more about how we go about helping businesses and tell you a story about a company we have helped in the next few blog posts.

Analytics Consulting – As a founding member of Gloabl Chamber Manila, DMAIPH specializes in a variety of analytics consulting solutions designed to empower analysts, managers and leaders with the tools needed for more data-driven decision-making. We have helped dozens of companies get more analytics in their business. Contact DMAIPH now at analytics@dmaiph.com or connect with me directly so we can tailor an analytics solution made just for your unique requirements.

Q20: So in conclusion can you explain a little more about your own method for using data to drive better decision making?

I have always been into data. When I was a kid I used to memorize baseball statistics on the backs of baseball cards. It was not uncommon for me to spend a whole weekend constructing fantasy teams and playing what if games between great teams of the past using my favorite players.

Besides sports statistics, another love of mine as a kid was history. Understanding concepts that caused things to happen. Wanting to know what caused wars and lead to significant changes in behavior. And history is chalk full of statistics. Loads of data to help understand what happened and most importantly shed some light on why it happened.

So those two experiences really taught me about how much fun data can be. When I started my first real job out of college, I started using MS Excel. I quickly became the expert in the office and things just kinda spun out from there.

I took a few Excel classes early on, but most of what I have learned has been either side by side with an expert of self-taught. When I started at Wells Fargo, the data guy thing followed me.

One of my first projects was building a sales tracking sheet for each team. Flash forward 15 years and I was doing the same thing, but with much more awesome tools and a lake full of data.

SO what does that tell you about my philosophy about analytics? Its comes from passion and curiosity and my expertise is mostly self-taught. To teach people to be a good analyst you have to first build confidence and generate empowerment. That with the right tools, the right data and the right state of mind, you can solve any data problem.

At this point in my career, besides the passion and the drive, I’ve got 25 years of data gathering, analyzing and sharing under my belt. I can find data on just about anything, knowing where to start looking.

I have a 1,000 bookmarks saved and organized and Im always adding to it. I also as much as possible notate my sources to keep breadcrumbs close at hand to trace back how I got to where I am at. I read a ridiculous amount. Books, blogs, articles, whatever I can that helps me add to my body of knowledge and most importantly gives me access to new places to find data.

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To me the single biggest key to success in analytics is just that… knowing where to look for it. The quicker you identify the data, the less time you have to spend inventorying it and the most time you can spend integrating it.

A lot of people might expect me to say use this application with this model of this method to get these results. That’s to specific. I can list out some awesome tools, but if they aren’t going to be employed in every company then what’s the point.

If you are surrounded by people who know where to find data, you are in a good place. If you are the only one who is going out and finding it, then you are in a lonely place. Making data-driven decision is only really possible if your business culture is at a point where it values these types of decisions.

In conclusion, you have to have curious people, who are empowered to find data, that management will use to make decisions. Focusing on data organization for speed and diversity helps. Spending a lot of time on visualizing your data so it tells a story that drives decision making helps. This is how I do it.

I find data, I use cool tools to analyze it faster and I add awesome visualizations to make it more powerful.

That’s how I empower people to be analysts, how I teach companies to have better analytics and finally and most importantly, how I do analytics.