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Big Data. Are you Realising the Opportunities? (Presented by Digital Alchemy)

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Grant Stewart, Head of Strategy at Digital Alchemy discusses how to best realise the opportunity derived from Big Data. At the forefront of data-driven marketing, Digital Alchemy provides dynamic decisioning to their clients allowing them to drive relevant, timely communications to their customers. The results of their approach which includes leveraging big data and analytics has yielded some outstanding results but not without some learnings along the way. Grant provides a frank and open discussion around the unique advantages big data can bring to deepening customer insights as well as what he has found to work and not work in this exciting world of real-time customer intelligence.

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Big Data. Are you Realising the Opportunities? (Presented by Digital Alchemy)

  1. 1. Copyright © Digital Alchemy Commercial in Confidence 1 Big Data. Are you Realising the opportunities? Grant Stewart Head of Strategy, Digital Alchemy
  2. 2. Commercial in Confidence © Digital Alchemy We live Big Data 2 300 Marketing and Technology professionals with offices in 6 countries and trusted by organisations with combined market cap of over $500B . 70,000,000 customers under management 200M customer transactions processed every day looking for the right marketing opportunity 1 Billion marketing decisions executed into preferred channels each year Cloudera’s newest Customer Real Time Next Best Offer – uDecide™
  3. 3. Commercial in Confidence © Digital Alchemy 3 You’ve heard the gag before But has Big Data been a Big disappointment……. thus far?
  4. 4. Commercial in Confidence © Digital Alchemy 4 Has Big Data been a Big disappointment? • “We’ve spent all this money collecting data but we’re not seeing the investment pay off yet“ • “Analytics just haven’t kept up. We’re moving at the speed of life, but analytics is still working the way it always has” • “Everyone’s talking about it – but what are they actually doing with it?”
  5. 5. Commercial in Confidence © Digital Alchemy What we do see working • Organisations realising benefits at the coalface – using Big Data to genuinely change customer behaviour • Organisations changing the way their analytics works – i.e. real time decisioning, underpinned by machine learning. Not answers 3 months later • Working with providers like Cloudera to get solutions like real- time next best product decisioning live - faster, cheaper and less risk
  6. 6. Commercial in Confidence © Digital Alchemy Does this kind of decisioning work? 6 TELCO RETAIL FS • Real time decisioning • On the fly IVR next best offer • Converting at 60% for HV segments • Real time swiping / real time offers • 49% of program’s incremental revenue • Offers choose campaigns, not campaigns choose offers • Incentives different even though next best product might be the same
  7. 7. Commercial in Confidence © Digital Alchemy What’s worked and what hasn’t 7 Worked Hasn’t • When decisioning has already been made, campaigns become significantly less complex • Real time decisioning and execution is where step-change performance lives • Using Cloudera has meant we could focus less on managing environments, and more on doing what we need to – now we can get other Cloudera clients up and running in 2 months • It’s hugely confronting, culturally, to let the machines make the decisions • It doesn't matter how good the decisioning - you still need compelling offers to change behaviour • Preferred behaviour has to be clearly understood – sometimes success looks different to different parts of the business
  8. 8. Questions? Grant Stewart Head of Strategy, Digital Alchemy Grant.stewart@digitalalchemy.com.au M +61 (0) 400 0067 61
  9. 9. (helpful questions we might want the audience to ask / plant?) • How is this different to say the “Amazon – you might also be interested in this type thing we all know?” • How much does it cost and how long to get up and running? • What tech did we use (maybe a tech question for some)? Fiona / Justin – comments??