You've made your big data investments, but where is the ROI. The answer may be in data products -- using your data assets to build customer-facing solutions that differentiate and generate new revenue streams. This presentation explains the opportunity and best practices for designing, building, and launching data products.
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Launching Data Products for Fun and Profit
1. LAUNCHING DATA PRODUCTS
FOR FUN & PROFIT
ZACH GEMIGNANI
JUICE ANALYTICS
@zachgemignani www.linkedin.com/in/zachgemignanizach.gemignani@juiceanalytics.com
7. “DO YOU WANT TO KNOW
HOW GOOD BACON IS?
…TO IMPROVE OTHER
FOODS THEY WRAP IT IN
BACON”
8. “DO YOU WANT TO KNOW
HOW GOOD BACON IS?
…TO IMPROVE OTHER
FOODS THEY WRAP IT IN
BACON”
“IF IT WEREN’T FOR
BACON, WE WOULDN’T
EVEN KNOW WHAT A
WATER CHESTNUT IS!”
9. “DO YOU WANT TO KNOW
HOW GOOD DATA IS?
…TO IMPROVE OTHER
PRODUCTS THEY WRAP IT IN
DATA”
10. “DO YOU WANT TO KNOW
HOW GOOD DATA IS?
…TO IMPROVE OTHER
PRODUCTS THEY WRAP IT IN
DATA”
“IF IT WEREN’T FOR
DATA, WE WOULDN’T
EVEN KNOW WHAT A
FITBIT IS!”
12. “A PRODUCT THAT FACILITATES AN END GOAL
THROUGH THE USE OF DATA”
DATA PRODUCTS
13. “A PRODUCT THAT FACILITATES AN END GOAL
THROUGH THE USE OF DATA”
— DJ PATIL, CHIEF DATA SCIENTIST OF THE U.S.
DATA PRODUCTS
14. “A PRODUCT THAT FACILITATES AN END GOAL
THROUGH THE USE OF DATA”
— DJ PATIL, CHIEF DATA SCIENTIST OF THE U.S.
DATA PRODUCTS
15. “A PRODUCT THAT FACILITATES AN END GOAL
THROUGH THE USE OF DATA”
— DJ PATIL, CHIEF DATA SCIENTIST OF THE U.S.
“ANALYTICS TURNED INSIDE OUT”
DATA PRODUCTS
16. “A PRODUCT THAT FACILITATES AN END GOAL
THROUGH THE USE OF DATA”
— DJ PATIL, CHIEF DATA SCIENTIST OF THE U.S.
“ANALYTICS TURNED INSIDE OUT”
— ZACH
DATA PRODUCTS
17. (NICE IDEA, BUT IS ANYONE REAL DOING THIS STUFF?)
DATA PRODUCTS ARE SIZZLING HOT
18. (NICE IDEA, BUT IS ANYONE REAL DOING THIS STUFF?)
DATA PRODUCTS ARE SIZZLING HOT
$1B
19. (NICE IDEA, BUT IS ANYONE REAL DOING THIS STUFF?)
DATA PRODUCTS ARE SIZZLING HOT
$2B
$1B
20. (NICE IDEA, BUT IS ANYONE REAL DOING THIS STUFF?)
DATA PRODUCTS ARE SIZZLING HOT
$2B
$1B
$26B
22. JUICE HELPS BUILD DATA PRODUCT BUSINESSES
healthcare learning and
talent management
UK-based market research to
global brandsmedia brand for comparison
and rankings
32. WHAT’S WRONG
“CUSTOMER REPORTING”
“SELF-SERVICE BUSINESS INTELLIGENCE”
“RAW DATA EXTRACTS”
RUNNING HARD TO SATISFY UNHAPPY CUSTOMERS
DEMAND ACCESS TO THEIR DATA
Photograph by Jeffrey Coolidge
33. HOW TO FIX IT
GOAL: MAKE YOUR CUSTOMERS SMARTER AND
MORE SUCCESSFUL THROUGH DATA
45. CUSTOMER PAIN
WHO ELSE DO I KNOW, SO I CAN
EXTEND MY PROFESSIONAL
NETWORK
UNIQUE ASPECTS OF YOUR DATA
THE LINKEDIN ECONOMIC GRAPH
46. CUSTOMER PAIN
WHO ELSE DO I KNOW, SO I CAN
EXTEND MY PROFESSIONAL
NETWORK
UNIQUE ASPECTS OF YOUR DATA
THE LINKEDIN ECONOMIC GRAPH
VALUE YOU ADD TO THE DATA
IDENTIFY CLOSES CONNECTIONS
AND ONE-CLICK ADD
53. DATA IS AN IMPERFECT
REFLECTION OF REALITY
What do data fields mean in real life?
Where is data missing or sparse?
Does it capture everything you think it does?
How frequently is data captured?
Are steps in the data pipeline that transform
meaning?
54. HOW TO FIX IT
FIND YOUR DATA GURUS…AND TREASURE THEM
56. WHAT’S WRONG
YOUR ENGINEERING TEAM SAYS “NO PROBLEM”
THEY MAY BE THINKING…
1. CREATING A DATA EXPORT
2. DO SOME DATA MODELING (FUN!)
3. BUILD A FEW VISUALIZATIONS (MORE FUN!)
61. WHAT SHOULD BE
PRODUCT MANAGER
CUSTOMER TRAINING
OPERATIONS & SUPPORT
MAINTENANCE/ENHANCEMENTS
MARKETING
SALES
62. DEDICATED PRODUCT OWNERSHIP
LESSONS FROM “THE HUB”
Single person who owns the product and is
held accountability
Convincing internal account teams was as
hard as selling clients. They response to
competition and real incentives.
START WITH INTERNAL AUDIENCES
Be discerning about which clients to target
first. Identify the early adopters to build your
case studies.
FIND THE LOW-HANGING FRUIT
Don’t underestimate the time, training, and
meetings required to sell your stakeholders
IT’S A SLOG
Clients will want customizations at first. Don’t
chase the money.
MAINTAIN YOUR PRODUCT VISION
Customers don’t want to change from stuff that
works. The solution needs to offer obvious and
dramatic improvements for them to care.
CHANGE IS HARD
63. DATA PRODUCT LAUNCH PROCESS
LAUNCHDEVELOPDATADESIGNVISION
WHAT’S WRONG
HOW TO FIX IT
64.
65. “BITS OF BACON ARE LIKE
THE FAIRY DUST OF THE
FOOD COMMUNITY…
66. “BITS OF BACON ARE LIKE
THE FAIRY DUST OF THE
FOOD COMMUNITY… …YOU DON'T WANT THIS
BAKED POTATO? BRRRING!
NOW IT'S YOUR FAVORITE
PART OF THE MEAL.”
67.
68. 1. DATA PRODUCTS ARE A REAL AND CURRENT
OPPORTUNITY FOR YOUR BUSINESS
69. 1. DATA PRODUCTS ARE A REAL AND CURRENT
OPPORTUNITY FOR YOUR BUSINESS
2. THE SAME OLD REPORT OR DASHBOARD IS NOT A
SOLUTION TO MAKE YOUR CUSTOMERS SMARTER
70. 1. DATA PRODUCTS ARE A REAL AND CURRENT
OPPORTUNITY FOR YOUR BUSINESS
2. THE SAME OLD REPORT OR DASHBOARD IS NOT A
SOLUTION TO MAKE YOUR CUSTOMERS SMARTER
3. DATA PRODUCTS NEED DESIGN-THINKING AND
NURTURING
71. RESOURCES
How to Build Better Data Products: Getting Started
http://www.juiceanalytics.com/writing/building-better-data-products-getting-started
Create Healthcare Data Products for Your Customers Webinar
http://www.juiceanalytics.com/writing/create-healthcare-data-products-for-your-customers
Our Favorite Data Products
http://www.juiceanalytics.com/writing/ourfavoritedataproducts
Popular Data Product Myths
http://www.juiceanalytics.com/writing/product-managers-data-monetization-myths
The Future of Dashboards
http://www.juiceanalytics.com/writing/the-future-of-dashboards
Putting People First in Your Big Data Initiative Ebook
http://www.juiceanalytics.com/writing/putting-people-first-in-your-big-data-initiative
Analytics 3.0 and Data Monetization
http://www.juiceanalytics.com/writing/analytics-30-and-data-monetization
Turning Data Into Product
http://www.juiceanalytics.com/writing/turning-data-into-product
A Checklist for Creating Data Products
http://www.juiceanalytics.com/writing/a-checklist-for-creating-data-products