Presentation @ScotDataSciTech 24 sept

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Information about Presentation @ScotDataSciTech 24 sept

Published on September 25, 2015

Author: PaulLaughlin

Source: slideshare.net

1. Paul Laughlin, Managing Director, Laughlin Consultancy The Softer Skills Data Professionals also need these to make an impact

2. Background ❖ Created and lead customer insight teams for all the major insurance brands, products & channels used by Lloyds Banking Group over 13 years ❖ Added over £11m incremental profit to bottom line annually ❖ Pioneered work with FCA on Behavioural Economics in comms ❖ Developed capability in team of 44 & mentored next generation of leaders

3. Business “Helping businesses make money from customer insight” Laughlin Consultancy helps companies maximise sustainable value from their customer insight, for example by growing their bottom line, improving customer retention and demonstrating to their regulator that they treat customers fairly.

4. Globally, Data Science matters © Laughlin Consultancy Ltd, not to be used without permission.

5. 6 months of data progress

6. 9 Step Analysis Model Question Data Analysis Insight Planning  &   Design Presentation  &   Distribution Solution Buy  -­‐  in Sign  -­‐  off “Contracting”   translating  business   questions  into   actionable,   analytical  terms   “Delivering”   expressing  analysis   &  insight  in   actionable  business   terms Addressing   business  need Transparency  of   activity Engagement  with   key  stakeholders

7. Getting a good quality brief Question

8. The problem with requests

9. Socratic questioning ❖ Aim is to help client have clarity on need not just what they want: ❖ Concept clarification questions ❖ Probing assumptions ❖ Probing rationale, reasons & evidence ❖ Questioning viewpoints & perspectives ❖ Probe implications & consequences

10. “By failing to prepare, you are preparing to fail” Benjamin Franklin 10 Planning & Design stage Question Planning  &  Design

11. 11 What do we already know? What am I missing? How could I fill this gap? How am I going to communicate findings? What are the Hypotheses? You could start at any point in the cycle but you should look to address all elements in completing your analysis Design Map

12. Who Use  /  Involvement  /  Experience Shopping/Buying Engagement  /  Influences▪What characterises the customer/ segment −demographics −stage of life −attitudes −behaviours −dissatisfactions −routines −etc
 ▪What are their chief concerns in life (attitudinal data)? ▪What are their key needs and aspirations? ▪What are their circumstances and what is going on in their lives that impacts how they see the category? ▪What motivates them? ▪What are their preferred channels for researching and purchasing products and how does this compare with other types of products? ▪How do they make a purchase decision and what factors are important? ▪What are their attitudes to advice? What prompts/triggers them to seek advice? ▪How do they perceive your brand vs other brands? (product category and wider) ▪How do they become aware of the category? ▪What is there attitude to planning for the future? When do they think ahead, what triggers this? ▪When do they reconsider their choices? What prompts change? ▪ What and who influences them and their choices? Who do they turn to for guidance/information/ recommendations? ▪What competitive product holdings do they have and why? ▪When are they receptive to messages? ▪What does the segment need and want when buying your products? ▪What products are they most likely to buy and why? ▪What is the current customer experience? ▪What are the key dissatisfactions (irritations, frustrations etc) with the current process? Pricing/Finances ▪How engaged/informed/involved are they with regard to competitive pricing? ▪What products do they hold? How does this contrast with other segments? ▪What triggered their purchase? What stops them buying? ▪Do they go on to buy something else? (us or competitor) ▪What are their goals and to what extent do they plan their spend (budgets)? 12 Insightful questions

13. “Men often oppose a thing merely because they have had no agency in planning it, or because it may have been planned by those whom they dislike.” Alexander Hamilton (American politician) 13 Buy-In stage Question Planning  &  Design Buy-­‐in

14. Stakeholder Mapping

15. “A moment's insight is sometimes worth a life's experience” Oliver Wendell Holmes, Sr. (American writer) 15 Insight stage Question Data Analysis Insight Planning  &  Design Buy-­‐in

16. Media and Technology Trends Regulatory Environment Socioeconomic Stats Competitor Intelligence Market Developments Qualitative Research Quantitative Studies Tracking Studies Meeting Customers F2F Customer Complaints Listening in at Call Centre Those who meet customers Sales, Customer & Transactional data Communication Evaluations Behavioural DataEnvironm ent Research Custom er Connection Customer Personas/Vox pops Customer Experience Study Market  Intel.  Team   External  MI  Database Data  Team   Analysis  Team Research  Team Customer  facing   Colleagues 16 4 sources of Insight

17. “Think like a wise man but communicate in the language of the people” William Butler Yeats (Irish poet) 17 Sign-off stage Question Data Analysis Insight Planning  &  Design Buy-­‐in Sign-­‐off

18. Communicating your analysis Question Data Analysis Insight Planning  &  Design Presentation  &   Distribution Buy-­‐in Sign-­‐off

19. Effective Communication ❖ Complete ❖ Concise ❖ Considerate ❖ Concrete ❖ Clear ❖ Courteous ❖ Correct

20. Hierarchies of communication ❖ Hierarchies of headlining ❖ Short, eye-catching, wording

21. Storytelling ❖ People are engaged by stories ❖ Psychological studies show better attention & recall (esp. feelings) ❖ Common templates: ❖ “Just imagine, if…” ❖ “Wow! I’m going to tell… about this” ❖ The Burning Platform

22. Data Visualisation Principles ❖ Graphical integrity ❖ Data-Ink ❖ Chart Junk ❖ Data Density ❖ Small Multiples

23. Data Visualisation

24. Data Visualisation

25. Influencing the Outcome Question Data Analysis Insight Planning  &  Design Presentation  &   Distribution Solution Buy-­‐in Sign-­‐off

26. It’s all about taking action ❖ Ensuring request is for action ❖ Designing analysis for action ❖ Including recommended actions ❖ Progress updates on action ❖ Measure effect of actions © Laughlin Consultancy Ltd, not to be used without permission.

27. Influencing at the Top Table ❖ What’s on their agenda? ❖ Bring Customer updates ❖ Bring Commercial updates ❖ Joint updates with Marketing, Sales or Ops (collaborate) © Laughlin Consultancy Ltd, not to be used without permission.

28. 9 Step Analysis Model Question Data Analysis Insight Planning  &   Design Presentation  &   Distribution Solution Buy  -­‐  in Sign  -­‐  off “Contracting”   translating  business   questions  into   actionable,   analytical  terms   “Delivering”   expressing  analysis   &  insight  in   actionable  business   terms Addressing   business  need Transparency  of   activity Engagement  with   key  stakeholders

29. Action orientated learning One thing I will do differently as a result of this presentation is…

30. linkedin.com/in/paullaughlin paul@laughlinconsultancy.com +44 (0)7446 958061 Any questions? customerinsightleader.com laughlinconsultancy.com @LaughlinPaul © Laughlin Consultancy Ltd, not to be used without permission.

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