Getting Value out of your Data - Kevin Pak @ NEWPEOPLE VIP Connect 17/4/14
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Transcript of Getting Value out of your Data - Kevin Pak @ NEWPEOPLE VIP Connect 17/4/14
![Page 1: Getting Value out of your Data - Kevin Pak @ NEWPEOPLE VIP Connect 17/4/14](https://reader033.fdocuments.in/reader033/viewer/2022060122/55954d791a28abcf548b47b5/html5/thumbnails/1.jpg)
Getting value out of your data
Kevin Pak
![Page 2: Getting Value out of your Data - Kevin Pak @ NEWPEOPLE VIP Connect 17/4/14](https://reader033.fdocuments.in/reader033/viewer/2022060122/55954d791a28abcf548b47b5/html5/thumbnails/2.jpg)
![Page 3: Getting Value out of your Data - Kevin Pak @ NEWPEOPLE VIP Connect 17/4/14](https://reader033.fdocuments.in/reader033/viewer/2022060122/55954d791a28abcf548b47b5/html5/thumbnails/3.jpg)
What does a data scientist do?
Get value out of your data
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Where do we stand?
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Example Cases
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Dynamic Pricing
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Dynamic Pricing Process
Price
Optimization
Observe
Sales
Demand
Forecast
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Google Adwords
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Google Adwords Bid Optimization
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Costs
Revenue
Profit
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Conversion Attribution
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Statistical Conversion Attribution
Tools in
the market
Statistical
approach
You provide the weight for frequency, time on site,
recency, page views, etc.
The tool attributes the conversions to the channels
according to the weights you provided
self fulfilling prophecy, no real insights
Statistically determine each channel’s true contribution based on all observed visitors paths.
data driven insights
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Media Mix
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0%
10%
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Actual 2011
Model 2011
Media Mix Optimization ef
fect
iven
ess
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€ 2.000.000
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Media spend
Visits
Margin
Profit
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Integration is the trend
Price
Adwords
Conversion
Attribution
Profit
Media
Capacity
Price
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How do you get there?
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One step at a time
Workshop Data
collection
Data
analysis
Proto-
typing
Proof Of
Concept
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With the right people
Statistics & Math
IT Business
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With the right data
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Where are you?
Source: Competing on Analytics, Davenport