Thursday 11 January 2018

Where do you stand in Data and Analytics Maturity Level?

“Data is a natural resource.”

It is quite common these days to find CEOs, CMOs and Analysts quote ‘data’ as the next big thing in the industry. But the real question is how do we leverage this newly discovered resource through a business model that is capable of assessing data capabilities? The fact is that the power that we seek from data has in fact, already found us.
CMOs and CTOs of the world are right now thinking on how to use their own data and leverage its power for business growth. As we speak - thousands of websites, digital platforms, mobile applications are capturing and processing data in real time, to mine meaningful consumer insights. To illustrate this phenomenon let’s take a step back to see how digital marketing strategy is evolving.
When it comes to conversions, brands today have turned to data, to give a highly targeted personalized experience for customers through a host of analytics tools. But to truly realize the potential, how can we optimize our processes from a business point of view? Can we align organization verticals to reflect this data-driven approach to solving problems? How can we collate data from multiple sources? More importantly, how does a business assess their own standing (among competition) in terms of maturity of their data collection and usage? What are the key access points to evaluate data and analytics capabilities?

The answer is not a radical change, rather a slight realignment of processes that look somewhat like this…







The general purpose of this maturity model is to introduce a comprehensive framework, which makes it easy to assess the most vital parts while setting up a solid data and analytics foundation. It’s a road map that provides a guideline for the necessary means to ensure that infrastructure and processes enable frequent, regular optimization across media vehicles, digital, CRM and brand measures on basis of the business objectives.
The maturity model is designed to evaluate the mandatory requirements for a highly actionable data and analytics foundation.


It can be used to evaluate the ability to deliver advanced digital marketing techniques that are at par with the evolving content consumption pattern. And in the process, assess the underlying factors such as technology requirements, operating models, roles and responsibilities to further augment capabilities. Keeping this in mind, we have identified key areas that need to be appraised by organizations. 

        Strategy:
The key question to answer is, why are we capturing data and what are we trying to achieve with it?
A clearly defined strategy is the backbone of all advanced digital marketing activities and heavily influences whether or not the change towards a data driven marketing culture is successful. Usually the strategy is defined by the marketing executives, or at least empowered by them and communicated throughout the organization. The strategy provides the criteria to select business objectives and how to leverage data in order to achieve the anticipated goals. The key points of focus while framing strategy are Vision, Objectives and how are we going to use the data for turning it to insights.
In short, the most favorable situation for an organization would be to have a clearly defined and well communicated strategy, which comes along with business objectives and related KPIs.



       Capability:
The key questions to answer is, how do we organize the resource and skill sets for data maturity?
Another major part regarding the overall maturity of data and analytics utilization, is the expertise of the relevant stakeholders. Providing a well thought out framework is essential for coordinating resources, empowering knowledge sharing and planning for individual skill development. The first step towards this framework is to analyze our organization’s operation model is.
Is there a proper coordination between different departments? For example, do the Social, CRM, E-commerce Marketing/Sales align together? Do they meet and plan campaigns? Are the roles and responsibility for each stakeholder clearly defined? How are they leveraging the collected data? Are they well aware of their respective roles in marketing activities?
Thus, the highest level of capability maturity is achieved, when there is complete transparency of the individual capabilities, how they can be combined and what the concrete steps are to increase them over time.


      Technology
Key Question to answer is, what is the role of technology and how does it enable our goals?
Advanced digital marketing is largely dependent on the utilized tools and their capabilities. Whereas the concrete technology stacks can differ from client to client, they always are based on the same functionalities. For instance, you can expect a CRM system to be in place, as well as a web tracking tool, to capture user interactions and preferences but are these tools sharing the data with each other and does our team use the data in effective way? In case if organizations have vendors, is the optimal value generated from vendor partnerships?  What are our competitor’s doing? Do we get training and support for our technology platform and tools used?
Thus a close partnership with vendors, alongside a good understanding of their future developments and clearly defined training and support requests form the basis for a high level of maturity.

       Process
Key Question to answer is, how do we affect the culture so that data driven decisions are adopted?
Having talked about capability and technology before, the next aspect is concerned about the needed processes to make the most use out of both. Vital parts are the data collection itself, how to request analytics services going beyond just mere Excel spreadsheets and how to guarantee reliable data quality all the time. We need to have a governance and operating model defined for our data collection.
A highly mature process setup is built on automated, less error prone data collection and refinement, accompanied by standardized ways to request and serve information requests.

      Insights
Key Question to answer is how do we ensure data is turned into insight and ultimately action?
Finally, the last aspect of the maturity model is evaluating how data is turned into meaningful information outputs, to what extent relevant insights are generated and how those are operationalized. All the above mentioned are forming the most tangible and directly visible outcome of a mature data and analytics foundation.  In order to evaluate the organization maturity in this regard, it is investigated if there are managed expectations regarding the insight generation, how frequently they are derived and how valuable they are.
The insight maturity is expected to be on a high level, when information is not created to solely document performance, but is actively incorporated into day to day thinking. Recurring information needs are served in a rather effortless and efficient way.


One can judge themselves on these aspects to know where they stand compared to maturity Level!










Wednesday 26 October 2016

Online banner advertising v/s outdoor display advertising



Online banner advertising and outdoor display advertising both are used in marketing space to promote product/service
Both of them have their own pros and cons below are key difference
  •  Online banner advertising are Inexpensive as compared to outdoor display advertising, if we compare the production cost of Outdoor ads these are costly
  •  Banner Ads are Repetitive Banners continue to reinforce advertiser’s name each time they're seen. If placed in a high-traffic area, a banner may reach the same customer several times a day, while online ads can be controlled pro-grammatically and can be targeted too specific interested people.
  •  Banners ads are reusable, Companies who sponsor many local events or appear at gatherings and trade shows frequently will get a lot of mileage out of a banner, while in online banners this is not possible.
  • Online ads can be targeted to specific audience with custom age/gender/location/interests. Whereas outdoors ads don't have such options we can say that Retargeting/Geo Targeting are the key features.
  •  In online advertising one can take advantage of A/B split testing. What constitutes a better strategy? One can have a control on advertising, but on outdoor advertising we can't test two ads at same location
  • In depth Analysis is a key feature of online banner ads, one can get exact no of impressions an adv. has received, one can get data for no. of clicks, conversion rate whereas outdoor advertising this can't get obtained.
  • Outdoors ads can be Attention Grabbing, The combination of size, color, and illumination attracts attention. Advancements in billboard technology including vinyl and computerized painting, 3-dimensional effects, back lighting, digital & LED technology are they ways to make advts. more effective whereas online advts. one can't get such attention

A big drawback of online banner is you won’t be able to reach those people who do not use internet but still buy that product. Here only outdoor advertising serves the purpose

+Punit Kansara  For your points





Online banner advertising v/s outdoor display advertising



Online banner advertising and outdoor display advertising both are used in marketing space to promote product/service
Both of them have their own pros and cons below are key difference
  •  Online banner advertising are Inexpensive as compared to outdoor display advertising, if we compare the production cost of Outdoor ads these are costly
  •  Banner Ads are Repetitive Banners continue to reinforce advertiser’s name each time they're seen. If placed in a high-traffic area, a banner may reach the same customer several times a day, while online ads can be controlled pro-grammatically and can be targeted too specific interested people.
  •  Banners ads are reusable, Companies who sponsor many local events or appear at gatherings and trade shows frequently will get a lot of mileage out of a banner, while in online banners this is not possible.
  • Online ads can be targeted to specific audience with custom age/gender/location/interests. Whereas outdoors ads don't have such options we can say that Retargeting/Geo Targeting are the key features.
  •  In online advertising one can take advantage of A/B split testing. What constitutes a better strategy? One can have a control on advertising, but on outdoor advertising we can't test two ads at same location
  • In depth Analysis is a key feature of online banner ads, one can get exact no of impressions an adv. has received, one can get data for no. of clicks, conversion rate whereas outdoor advertising this can't get obtained.
  • Outdoors ads can be Attention Grabbing, The combination of size, color, and illumination attracts attention. Advancements in billboard technology including vinyl and computerized painting, 3-dimensional effects, back lighting, digital & LED technology are they ways to make advts. more effective whereas online advts. one can't get such attention

A big drawback of online banner is you won’t be able to reach those people who do not use internet but still buy that product. Here only outdoor advertising serves the purpose

+Punit Kansara  For your points 





Tuesday 30 August 2016


DIGITAL MARKETING STRATEGY





DIGITAL MARKETING STRATEGY

5 Steps to Creating a Successful Social Media Strategy for 2017



http://www.socialmediatoday.com/marketing/5-steps-creating-successful-social-media-strategy-2017


Saturday 21 February 2015

Will Cloud computing kill the IT department?


This is most Hot topic this days and still it is unanswerable here is the summary about this from the data available on various website there are different viewpoints on this topic by different individuals blog won't come up with the answer
What if the cloud becomes the primary data center, and SaaS is the only way applications are sold? Will there be a need for an IT department?
There are two very different sides to this topic
IT departments are toast:
The cloud is quickly transforming how information is stored, processed, and managed. Gone do the days of companies need large data centers, with thousands of servers and an army of people to manage them. Gone are the days of ridiculously complex software customizations, integrations, and teams to manage local applications. There will be no need for most of the IT roles that exist today. The technical experts and developers will mostly work for the companies who make the software or provide the infrastructure. The small IT team will still coordinate activities and manage vendors, but the business departments will run the show and interface directly with the vendors. It's not shadow IT, because the IT department of the old days is gone!
It's going to be as simple as online shopping and banking. Need an ERP system of CRM? No problem, here is what you do. Visit the web site and select new customer sign-up. Enter in all your corporate information and company details, select the plan size such as the 70,000 user plan. Then select all your integration SaaS vendors such as banking, corporate reporting, and HR system. For an additional fee, select the option to automatically create a data warehouse and business intelligence reporting system. Enter a PO number and verify payment. Then, within about an hour, the system is online and in production.
The cloud is just another technology to be managed:
IT departments aren't sitting around wondering what the next project will be. We're all very busy, with years of projects queued up. The global economy is rapidly changing, and on a daily basis it's getting significantly more challenging and complex to run companies of any size. Well managed IT departments are spending more time on business initiatives that drive the company's growth and revenue instead of work that just maintains the status quo. So the cloud is great -- and the right direction -- as it allows a shift from lights-on type work to more value-add work.

However, the cloud is just another technology. Sure there is less work to do with servers and storage, but it will be a very long time before the impact is substantial enough to make a difference. There will be situations that require cloud services, and situations that require work to be done in-house. It won't eliminate the IT department, or most of the roles. Over time, the cloud might even increase the IT department's headcount needs. Think about the major shifts that have happened in the past. Standalone to the Internet, mainframes to servers, PCs to tablets, and phones to smartphones—each was supposed to make things easier, but instead it seems each has added to the complexity. The cloud will do the same.

Tuesday 27 January 2015

Some Tips for Resume

Hey Friends

Here is a Tip for Resume

http://lifehacker.com/5866630/how-can-i-make-sure-my-resume-gets-past-resume-robots-and-into-a-humans-hand