Data Visualization

1月 212016
 

How do public higher education institutions get funded? In the past, state funding was tied to enrollment, but now more states are tying funding to institutional performance. State Legislatures want more accountability for money spent on higher education and have turned to performance-based funding (also called outcomes-based funding). As such, […]

Performance-based funding in education was published on SAS Voices.

1月 172016
 

Last year, you heard from many people in JMP Development here in this blog. And it turns out you liked that best! Almost all of the top 10 posts of 2015 were written by R&D folks, and that's not a surprise. Our developers have tons of useful information and examples, […]

The post So, you like hearing from our developers appeared first on JMP Blog.

12月 222015
 

Although the title of this blog posting has all the ingredients to attract the eyes of an analyst, the content is targeted for all personalities of a digital marketing organization. Before we jump into the marketing analytic use case regarding forecasting, scenario analysis, and goal-seeking  for digital analytics, let's spend some time on the magic of stories. As Tom Davenport stated in his fantastic article titled, Telling a Story with Data:

"The essence of analytical communication is describing the problem and the story behind it, the model, the data employed, and the relationships among the variables in the analysis. When the relationships among variables are identified, the meaning of the relationships should be interpreted, stated, and presented relevant to the problem. The clearer the results presentation, the more likely that the quantitative analysis will lead to decisions and actions—which are, after all, usually the point of doing the analysis in the first place."

While creative visionaries and data scientists are both tremendous organizational assets within a team, it is the alliance between these two segments that will push marketing forward. Although aspirational, this is a difficult challenge to overcome. Let me begin by sharing a bit of my story - one that began with a four year career start in graphic design and creative marketing communications, and then taking making a leap to the quantitative side of marketing. I've seen and listened to how DIFFERENT these two segments of the marketing world are, and now as a preacher for the potential of marketing analytics, one's ability to make analysis interpretable and approachable is critical.

Google recently published a nice article titled, Staffing Your Marketing Measurement Team: Why You Need Data Storytellers, and one takeaway that I love from this piece is:

"The true value of data emerges when marketers are able to use it to tell a meaningful story. Enter the data storyteller, or marketing measurement analyst. This is the person who can push the tools, translate insights across the business, and motivate stakeholders to participate."

This quote nails the crux of the issue - if we don't take ACTION on the insights of analytics, it was nothing but a school project. Influencing decision-makers within an organization isn't easy, and if they do not understand the analysis, nothing will ever change. There are people who are good at creative marketing strategy, and there are people who are good at marketing analytics. However, there aren't many people who can toggle between the two, and serve as the translator who inspires both sides.

In my personal opinion, the recent surge in analytic technologies becoming more approachable is key. The special ingredient in that trend is visualization and analytics joining forces in ways we have never seen before. Why is this happening? Seeing and understanding data is richer than creating a collection of queries, dashboards, and workbooks. According to the infamous American mathematician John W. Tukey:

"The greatest value of a picture is when it forces us to notice what we never expected to see.”

The "ah-ha" moment. The best part of my work day!

In addition, when analytics becomes approachable, interpretable, and transparent to the entire marketing organization, the behavioral change of how we work together highlighted in this video becomes a reality:

Visual Analytics represents a new category of interactive and collaborative technology to provide a path to be curious and innovative. Marketers are imaginative, and are constantly pushing to analyze new and exciting data sources (i.e. clickstream, social, IoT wearables, etc.), which require the ability to scale to very large amounts of information. However, what is different here is the ability to perform sophisticated analysis, and produce visualizations to support data-driven storytelling.

Finally, we arrive at the digital analytic use case. The intention is to highlight my personal approach to tip-toeing that fine line of producing meaningful analysis, while narrating the marketing storyline. Here is the description of the business case, and my demonstration video.

Business Challenge:

How do I allocate digital media spend to drive more traffic to my website in a future time period?

Marketing Applications:

  1. Identify the most important acquisition channels (i.e. attribution)
  2. Simulate & optimize ad spend to acquire incremental traffic and meet business objective

Let me know what you think in the comments section below. If you enjoyed this article, be sure to check out my other work here. Lastly, if you would like to connect on social media, link with me on Twitter or LinkedIn.

tags: data visualization, Digital Analytics, Digital Intelligence, digital marketing, Forecasting, Goal-seeking, marketing analytics, predictive analytics, Predictive Marketing, Scenario Analysis, visual analytics, visual statistics, web analytics

Forecasting, goal-seeking, and magical stories for digital analytics was published on Customer Analytics.

12月 222015
 

Hidely-hodely, everyone! As you might imagine, the size and variety of the gift inventory at the North Pole puts Wal-Mart to shame. And while we’ve been at this for hundreds of years, we still make too many of some things and not enough of others. No elf can forget the […]

Santa, may I please share this data visualization with you? was published on SAS Voices.

12月 192015
 

Since it debuted earlier this year, the New User Welcome Kit has become one of the most fun and efficient ways to learn how to use JMP. Now it’s been updated with six new hands-on activities that let you apply your skills within JMP itself. The new activities include: Using Graph […]

The post New activities and videos to enhance your JMP skills appeared first on JMP Blog.

12月 162015
 

If you read my last post, then you know that I’m giving myself the gift of data this holiday season! For me, collecting data on my diet and fitness habits is a gift that just keeps on giving. Although I may not look at all my data sets on a […]

The post Visualizing holiday food log patterns appeared first on JMP Blog.

12月 142015
 

Having polled some of my erudite friends and colleagues as well as having finished some noteworthy books these last several months, I developed a book list that may help with your holiday shopping (even if it’s for yourself). In preparing this list, I thought it might be useful to include […]

The post New book gift ideas for analytical friends and family appeared first on JMP Blog.

12月 142015
 

Having polled some of my erudite friends and colleagues as well as having finished some noteworthy books these last several months, I developed a book list that may help with your holiday shopping (even if it’s for yourself). In preparing this list, I thought it might be useful to include […]

The post New book gift ideas for analytical friends and family appeared first on JMP Blog.

12月 092015
 

It can be easy to get discouraged when working on a personal health project during the time period that stretches from late fall to early winter. The “food holiday” season that stretches from October to January is filled with celebrations and their leftovers. Colder temperatures and shorter days also reduce […]

The post Giving myself the gift of data appeared first on JMP Blog.

12月 042015
 

I hope that by now you've heard about our new Technically Speaking webcast series. The goal of this series is to help you understand and work through issues with your data so that you can focus on answering your most important questions. It features JMP team members sharing data case studies and […]

The post New Technically Speaking webcast exploring workout data appeared first on JMP Blog.