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Ask Measure Learn

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Information about Ask Measure Learn
Business & Mgmt

Published on March 7, 2014

Author: lutzfinger

Source: slideshare.net

Description

Making sense of your data doesn't require mountains of data; it requires a systematic approach that leads to actionable insights. But how to get there? This keynote (given at "Predictive Analytics and Business Insights") shows how to extract significant business value from big data with Ask-Measure-Learn, a system that helps you ask the right questions, measure the right data, and then learn from the results. Using this system can help you learn to:

* Focus on business-related questions
* Find measures that have high causation, a low error rate and a low cost
* Create actionable insights by starting with predictions, benchmarks or recommendations
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Lutz Finger Ask Measure Learn Last update: March 3, 2014

The philosophy of the day is data-ism. —DAVID BROOKS (@NYTDAVIDBROOKS)

Who •  •  •  •  am I Lutz Finger Director Data Analytics at LinkedIn Author of Ask Measure Learn Co-Founder Fisheye Analytics (sold to WPP) @LutzFinger LutzFinger.com linkedin.com/in/lutzfinger ?

Who are you?

Mario Vinasco Earliest Adopter Rahul Todkar Most Popular Bruno Aziza Most Connected Ron Goncalves, MBA, PMP, Most Endorsed

Actionable Insights?

Intellectually enriching – at most

We focus too much on technology Google Search on the term “Big Data” ENGINEERS DATA SCIENTISTS

ASK the right Questions. MEASURE the right data – even if it is not Big data. Take Actions and from them. LEARN ?

ASK Ask the right Question

ASK THE HARDEST PART

ASK Let’s do “Social Media”

ASK Source: IBM Institute for Business Value.

•  Opinion leaders (Katz 1955) •  Influentials (Merton 1968) •  Law of the Few (Gladwell 2000) Source: ‘Ask Measure Learn’ by O’Reilly Media ASK Please find an “INFLUENCER”

Source: ‘Ask Measure Learn’ by O’Reilly Media ASK A few person decide what we do…

Source: ‘Ask Measure Learn’ by O’Reilly Media ASK REALLY?

ASK Dear Marketers, There is no influencer. It’s a myth.

ASK Reality 50% is Homophily •  •  •  •  4 years 1001 Students on Facebook traditional Self-reported Data How did taste Spread Source: Kevin Lewisa, Marco Gonzaleza and Jason Kaufman (2012): PNAS Vol 109, no 1 Influence is often overestimated. It needs: §  Reach §  Readiness §  Topic Dependence

ASK Aja Dior M.? AP News?

ASK Aja Dior M.? AP News? Aja Dior M. omgg, my aunt tiffany who work for whitney houston just found whitney houston dead in the tub. such ashamed & sad :( 45 min

ASK I want to create “REACH” … in order to “SELL”

MEASURE Measure the right Data

•  Click Rates – Media •  Low CPO advertisers •  Etc.. MEASURE The world is full of WRONG metrics

Measure MEASURE What is RIGHT? Source: WIkipedia 30

Big Data MEASURE even if it is not

Social Data Behavioral Data Identity Data Data Volume MEASURE Analytical Challenge & Complexity 277+ Million Members = a lot of Data

MEASURE More Data does not equal More Insights

MEASURE We want small data…. Data ELT and Aggregation Web API Reach Analytics Portal or No Reach 1 Petabyte 2 Terabyte 3 Gigabyte 4 Bit

MEASURE Calculating Reach via Network Data 1977: Linton C. Freeman, “Centrality based on Betweenness .”

“SELL” needs purchase intend MEASURE “REACH” creates awareness

MEASURE Correlations are important

Source: ‘Ask Measure Learn’ by O’Reilly Media MEASURE What is your behavior?

MEASURE The issue with the Correlation / Causation

MEASURE Sometimes data is not easy to get.

Source: ‘Ask Measure Learn’ by O’Reilly Media MEASURE Social Behavior is ‘unstructured’

New York Weather in April 2013 Source: ‘Ask Measure Learn’ by O’Reilly Media MEASURE It is way easier to work with ‘structured data’

MEASURE MEASURE Source: Jeffrey Breen 43

MEASURE What is RIGHT? Source: ‘Ask Measure Learn’ by O’Reilly Media 44

LEARN Right Actions and learn from them.

2 Connections 4% 4 Connections 3% 1 Connection 28% 0 Connections 59% LEARN Information vs. Action…

LEARN Information vs. Action… 4 Connections 2 3% Connections 4% 1 Connection 28% 0 Connections 59% 47

LEARN Three Types of actionable Insights Benchmark Predictions Recommendations & Filter

LEARN BENCHMARK

LEARN Competitive Benchmark Source: ‘Ask Measure Learn’ by O’Reilly Media 50

LEARN RECOMMEND & FILTER

People You May Know Groups You May Like Ads You Be Interested in Companies you May Want to Follow Similar Profiles Puls LEARN LinkedIn Recommendation Products

More than 50% of connections LEARN Recommendations Impact More than 50% of group joins More than 50% job applications

Source: ‘Ask Measure Learn’ by O’Reilly Media LEARN Filter

LEARN PREDICTIONS

LEARN Predicting the OSCAR 2013

LEARN Predicting the OSCAR

Possible other Features: CROWDSOURCED: •  Box Office Results •  Movie Goer Reviews •  Critics OTHER “Hard Facts” •  Genre •  Payment of Actors •  Etc. Source: Farsite LEARN Predicting the OSCAR

Source: ‘Ask Measure Learn’ by O’Reilly Media LEARN Predicting Box Office

LEARN Predictions are not easy, especially if they are about the Future

Behavioral Score = 0.5 Identity Score = 0.3 Emily Score = 0.9 Social Score = 0.1 Behavioral Score = 0.2 Identity Score = 0.3 Steve Score = 0.9 ... With premium account, you get more search results and access to … Social Score = 0.4 ... Do you know 5 of you connections have started to use premium account … LEARN Propensity to Email Marketing

Source: ‘Ask Measure Learn’ by O’Reilly Media LEARN Which Model to use

Google’s Prediction API LEARN Which Model to use

Benchmark Recommendation & Filter Predict LEARN Many more examples…

LEARN Data Wrangling & Data Science is getting Easier

LEARN Training Update

Summary

ASK the right Questions. Forget Big Data but MEASURE the right data. Take Actions and from them. LEARN ?

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