What is the fundamental unit of value to a business? It turns out it’s the customer. Artem Mariychin, CEO and Co-Founder of Zodiac Metrics, joins host Allison Hartsoe to explain why companies should care about calculating Customer Lifetime Value (CLV), how to establish an accurate CLV formula model, and the positive business impact organizations can drive. Artem outlines how through having the right information and a data-driven approach to the customer, companies are able to increase their ROI and make better business decisions.
Is it possible to deliver massive value with analytics? Jose Murillo, Chief Analytics Officer at Groupo Financiero Banorte, talks about how his team generated 200x on their marketing analytics investment for the bank in this episode. He was invited to build an analytics group within Banorte with a core mandate: Increase customer equity. After a little bit more than three years his analytics group has in partnership with the business and support lines, has produced value close to $1B in net income. In 2017, this was equivalent to 43% of the net income produced by the whole financial group. In this episode, Murillo talks about the six factors for success, including being set up as a profit center with targets and accountability, fostering relationships through the organization, and the passion that comes when an analytics team owns the results. He explains the impact teams can generate, and that they can take time to accrue. Murillo also explains how to pick the right project — they are a mixture of science, business knowledge, and contain inevitable institutional hurdles.
Zack Anderson, SVP and Chief Analytics Officer at EA (Electronic Arts), talks about how their CLV model shifted their data analytics and, by extension, the culture of the company. Its new customer-centric approach better supports its “Player First” mission. EA reduced marketing spend from 22% of revenue to less than 12% and enabled the company to develop its most successful game to date: Battlefield 1. In this episode, Anderson explains that calculating CLV isn’t the same as acting on it, and shares his four key points for actualizing your own transformation.
Host Allison Hartsoe explains the concept of Customer Centricity and how it relates to Customer Equity. She walks us through the six stages of Digital Maturity, and explains how companies can use their digital data to build revenue and market strength
from Ambition Data…An Interview with Big Data Guru Bob Page
We take for granted that we can capture, track, and measure every piece of data in our ecosystem. But legendary big data guru Bob Page takes us back to a time before enterprise-class web analytics was a thing. In part one of this interview, Bob talks about working with large data sets and how Yahoo developed Hadoop, which cracked the code for managing data volume, velocity, and variety. He shares how he has used data to support decision making at Yahoo and eBay, including developing an ROI model to calculate the results of investments in the company’s data program.