Hub16: Motorola: Identifying cross-sell and up-sell opportunities
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Data is the new oil. Businesses are overwhelmed by the volume, velocity, and variety of new data about their market, customers, and competitors. Converting this massive data into “actionable insights” for sales and marketing teams is a major challenge faced by many B2B and B2C companies. For example, many market-changing companies have algorithms to predict who, when, and how customers will make a purchase (think Amazon's and Netflix’s recommendation engine). They have predictive/ prescriptive models and algorithms that assist their sales and marketing teams through the customer buying process. They are also coming up with innovative ways to monetize their data assets and increase revenue. In this session, you will learn how B2B companies, such as Motorola, are using Big Data and historical customer purchases to assist sales and marketing efforts. We will walk you through one use case of generating sales insights, up-sell, and cross-sell opportunities using Anaplan models.
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Hub16: Motorola: Identifying cross-sell and up-sell opportunities
- 3. #AnaplanHub16 Cross-sell and up-sell analytics KARTHIK RAMASAMY DIRECTOR, CORPORATE STRATEGY & ANALYTICS MOTOROLA SOLUTIONS
- 4. Your Presenter – Karthik Ramasamy Leading teams that create actionable, data-driven insights to build and implement growth strategies Working with senior executives to create an organizational design and culture that promotes "data driven decisions“ Integrating business strategy with data & analytics strategy to identify growth opportunities Creating strategies for monetizing data using new business models Worked with clients in multiple industries to build strategy, planning and analytics functions Director, Strategy and Analytics Motorola Solutions Consulting Lead Strategic Direction, Analytics Ernst & Young Head of Regional Strategy TCS, North America
- 5. MOTOROLA SOLUTIONS WE HELP PEOPLE BE THEIR BEST IN THE MOMENTS THAT MATTER
- 6. WE INNOVATE SOLUTIONS, CREATING DEVICES, INFRASTRUCTURE, SOFTWARE AND SERVICES TO HELP… 5 GOVERNMENTS BUILD SAFER CITIES AND COMPANIES BUILD STRONGER BUSINESSES
- 7. IN 2015, WE INVESTED $620M IN R&D TO DEVELOP THE NEXT GENERATION OF INNOVATIVE TECHNOLOGY AND SERVICES 6
- 8. A COMPANY’S VALUE IS JUST THE SUM OF DECISIONS IT MAKES AND EXECUTES 7
- 9. Data is the new Oil - World economic forum report BIG DATA IS CHANGING HOW DECISIONS ARE MADE Has big data changed decision making in your organization? 11% 64% 25% TOP-3 Changes to BIG decision making 1. Greater use of specialized analytical tools and techniques 2. Employing a dedicated data insights team to inform strategic decisions 3. Relying on enhanced data analytics Yes Planning No Companies with advanced analytical capabilities outperform rivals • 2X more likely to use data to make decisions “very frequently” • 5x more likely to make decisions “much faster” • 3x more likely to be highly effective at executing decisions – and as a result, • 2x more likely to be top- quartile financial performers Source : Creating value through advanced analytics – Bain Brief, Economic forum survey
- 10. Analytical gravity shifting to 50% focus on operations, not tactical or strategic decision support ANALYTICS IS BECOMING A SOURCE OF COMPETITIVE ADVANTAGE BY SUPPORTING AND PRESCRIBING DECISIONS Trends in Analytics • Business goals shifting from “Data-reporting to Decision-making” • Focus on embedding analytics in business processes and decision-making DESCRIPTIVE What happened? DIAGNOSTIC Why did it happen? PREDICTIVE What will happen? PRESCRIPTIVE What should we do? DECISION DATA “FROM DATA TO DECISION”
- 11. MANY ORGANIZATIONAL DECISIONS CAN BE IMPROVED BY DATA-DRIVEN ANALYTICS PREDICT PRESCRIBE Assign optimal price Find the best route Schedule resources Give customers the best next offer Allocate limited resources Optimize marketing mix Acquire a company Select a site for a power plant Decide where t drill for oil Customer churn Sales revenue Equipment failure Market volatility Response to marketing offer Fraudulent claims Cyber security breaches Workforce attrition Freight cost Credit risk Strategic Analytics Customer Analytics Marketing Analytics Finance Analytics Risk and Fraud Workforce Analytics Operation Analytics Sales Analytics
- 12. CASE STUDY : CUSTOMER ANALYTICS 11 LIFETIME VALUE ANALYTICS CUSTOMER VOICE AND SENTIMENT CUSTOMER LOYALTY & CHURN PRODUCT RECOMMENDATION CROSS SELL AND UPSELL SEGMENTATION AND PROFILING
- 13. PROJECT GOALS 12 VISIBILITY GROW Increase value of sales opportunities converted to revenue when and what the customer is likely to buy next, to… Understand customers’ historical buying patterns to… targeted leads for sales teams to …. RECOMMEND PREDICT
- 14. RESULTS INCREASED REVENUE THROUGH CROSS-SELL AND UP- SELL - Limited visibility to end-customer buying history - Manual, inconsistent processes to identify leads from historical purchases FROM - Automated insights, integrated with CRM - Single view of data- mined leads - Resources informed on high probability opportunities TO WITH BUSINESS IMPACT 1. Increased leads 2. Increased sales 3. Better prioritization 4. Higher customer satisfaction
- 15. Q A
Notas do Editor
- Work in the intersection of Strategy, Finance and Analytics…to help executives grow the business. My team works on projects to identify organic and in-organic growth opportunities, and implementing select strategic initiatives…We are using advanced analytics to help executives make data-driven decisions. Motorola is in the process of transforming from a hardware centric product company to a software, solutions and intelligence provider for public safety. We are assisting with the transformation by creating strategies to monetize data assets..and create new business models. We work with sales, finance, product and supply chain functions to improve the use of analytics within MSI..and bring the latest thinking on analytics in to MSI We are building advanced analytics capabilities to serve internally as well as for our customers’ products and services
- Right now, all over the world, our products, solutions and services are helping our customers be their best in the moments that matter most. A moment could be a police officer responding to an emergency call to keep the city safe.. A moment could be a teacher using our technologies to keep the school safe… A transit worker using our technology to streamling the morning rush hour.. An Ambulance using our radios to communicate with the hospital.. Whether those moments are big or small, moments of growth, of achievement, moments that save lives or improve life quality, moments with the public or your customers Motorola Solutions is there.
- The work we do comes down to two very clear objectives. Helping governments ensure the safety and prosperity of communities and businesses drive growth and profitability. Our mission-critical solutions are tailored to help those government agencies tasked with maintaining public safety work together toward this goal. Innovative technologies that help police and law enforcement maintain the safety and security of the communities they serve, that help fire fighters stay safe no matter how challenging their situation may be, that ensure emergency medical first responders can maximize the chances for a successful outcome and national government agencies can digest billions of disparate data points into intelligence that can be used to better protect national security. When speaking about Public Services market, please bear in mind that this function of government could include the following sub-categories: Codes, Permitting and Inspections Environment, Land Management, Parks and Wildlife Government Network Operators Government Transportation Health, Human and Social Services Public Administration Public Works When nothing happens, everything else can. This simple concept hits at the heart of why building safer cities, states and countries is so important. When citizens feel safe and secure, big, amazing, powerful things can happen. Citizens are free to create, to innovate and to celebrate. The whole community benefits and prospers. While public safety and government customers are our core focus, thousands of companies and users around the world and across key commercial markets rely on our solutions to stay safe and productive. This, in turn, helps them build stronger businesses and drive growth. Motorola’s products and services are helping utilities service their clients with reliable distribution and safety in mind. Manufacturers can better manage production costs and more efficiently move goods to their customers. Our solutions are helping keep miners and oil rig workers safe, while maximizing efficiencies across the operations. They are enabling hotels and retailers to offer guests memorable experiences and helping businesses move goods and people as efficiently as possible.
- Last year, we invested more than 10% of the company’s annual revenue in research and development of the next generation of mission-critical communication technologies and services. Transformaion to a mission critical intelligence provider Analytics to Predict Crime…and deploy resurces effectivelu Situationally aware As a result, technologies such as the Public Safety Experience user interface on the LEX L10 Mission Critical Handheld, innovative applications like the Intelligent Data Portal and radios that are more capable than ever before continue to help our customers stay safer and be more productive wherever their mission takes them. We are investing in new and innovative mission-critical communications, data and information solutions that will make our customers’ operations faster, smarter and more efficient. The resulting capabilities will do more than solve operational problems – they will help anticipate them.
- Many management gurus look at organizations as a decision making machine..and attribute the value of a company to the sum of decisions it not only make, but executes.. Organizational structures are created to align around functional areas or decisions… A decision-driven organization was a key paradigm in management….successful organizations know what decisions need to be made, the criteria for the decision and who in the organization makes those decisions, and what tools are needed to support it…Most decisions are taken based on gut feel, intution or.. Experience…HiPPO.. which is now supplemented by data-driven, “analytics driven” decisions.. What hig data has done is to create an ability to measure and manage more precisely, give better predictions and smarter decisions…so more intelligent/ effective interventions can happen..and opened them for new areas which were dominated by gut and intuition..with data and rigor Managers can measure and know more about their business and hence directly translate knowledge to improved decision making In the management literature…a decision-driven organization was a top concept…now its supplemented by being “data driven” analytics drive”…
- Big data and analytics has rocketed to the top of the corporate agenda. Execuives look with admiration how google, amazon and others have eclipsed competitors with powerful new business models that derive from their ability to exploit data.. Are the companies automating decision making or changing decision making? Recent survey – 2/3 of the organizations have changed how they make decisions due to this…. Example : Predictive asset management ….. Its not preventive management…Caterpillar Analytics are Encouraging Organizations to Break Down Barriers But why are decisions so Important? How do they add value? Its not about the “Aha” Moments,,Its about answering the “So What”….and “What do I do with this” Organizations are looking to use analytics to make decisions…moving away from just creating an aha moment Not just make predictions, but also prescribe the right decision.. Example : Capital One or BOA can determine the credit line approval…Amazon or Netflis’s recommendation engine…prescribes a cross sell decision !!!! What is a good decision? Better Decision? History is the best judge for effectiveness of decisions…However.. Study by MIT..Companies in the top third of the industry in the use of data driven decisions..make 5% more productivity..and 6% more profits So, we have established that decision making is key…and companies are fundamentally changing the way decisions are made…and big data is a management reveolutions as much as a technical revolution..
- Its not about the “Aha” Moments,,Its about answering the “So What”….and “What do I do with this” Organizations are looking to use analytics to make decisions…moving away from just creating an aha moment Not just make predictions, but also prescribe the right decision.. Example : Capital One or BOA can determine the credit line approval…Amazon or Netflis’s recommendation engine…prescribes a cross sell decision !!!! Big data Advanced type of BI Non structured data Visualization
- The best way to understand a company’s operation is to view them as a series of decisions.. Be it at the front-office trying to build customer loyalty and reduce churn….Or to predict equipment failure and perform predictive maintenance…Or understand the causes of workforce attrition… Opportunity to move from prediction to prescription…assign a price, route…allocate resources.. Customer Churn for subscription businesses…Risk analytics is another field… First is a realization that a decision needs to be made…Fork in the road, choice Scope – life changing, fundamental, transitory, impact 100s or 1000s of customers, reveolutionsry..bet the company Every day 10 million times a day….understand the scope and context Likely outcomes – profitabile, exposed to liability, customers will be happy Best courses – priorities, strategies, ethics, requirements..apply influences to decide a course of action to take.. Goals of analytics is to take any of these make it Better, faster, more efficient, more accurate, consistent, appropriate Think about the processes we undertake…we have an opportunity to change them..
- The strategy analytics team works on many use-cases where Analytics can improve the quality of decisions – whether the decision is to grow revenue, or reduce cost, improve planning accuracy. I had heard of Anaplan from the context of salesforce planning within Motorola. When Deepak reached out to me we had an initial conversation about using Anaplan for the LRP process…We created a Demo and in the process I discovered the power of analplan in creating models at Ease… We run many models in Excel…using high level data..but did not have a capability to drill deeper..obviously because excel crashes frequently.. Our data isn’t in a great shape..and we needed to create hierarchies-on-the go..because we want to slice and dice the data differently….and model flexibility.. Three Step Process: Data Collection Data Validation Creating Business Rules Board level visibility;
- The goals of the project is to understand historical customer buying patterns to predict which customer bought what product or service – Background : Old transactional systems, data in multiple formats, products vs services, No standard product hierarchy Our Customer : Government – Cities, Municipalities, States – Police, Fire Approach : 15 years of transactional data in Anaplan platform…On-The-Fly hierarchies..On-The-Fly business rules Poor Man’s Recommendation Engine Biz model : Install Base – Churn/ Replacement. Newer products and services that complement/ supplement the install base. Products/ Services at the periphery of our installed base of products.. Next steps : Algorithms..predictive capabilities..