5 Proven Strategies For a Successful Analytics Product Launch

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  1. 1. GoodData Confidential. 2013 GoodData Corporation. All rights reserved. June 10, 2014 5 Proven Strategies to successfully launch an analytics product
  2. 2. GoodData Confidential. 2013 GoodData Corporation. All rights reserved. Kevin Smith, NextWave Performance Speakers Cory Vander Jagt, GoodData
  3. 3. GoodData Confidential. 2013 GoodData Corporation. All rights reserved. Our Discussion Overview Considerations for Success Monetization Pathway What we see Case Studies Questions and Answers ! !
  4. 4. GoodData Confidential. 2014 GoodData Corporation. All rights reserved. GoodData is a business analytics Platform as a Service (PaaS) that supports the entire lifecycle of data and analytics, from storage and data governance to data discovery. ! What Is GoodData?
  5. 5. GoodData Confidential. 2014 GoodData Corporation. All rights reserved. GoodData Corporate Overview Serving 40,000+ companies Nearly 300 employees, including 150 engineers Founded in 2007 $75.5M in funding Headquarters in San Francisco Other offices in Boston, Portland, Prague, Brno ! ! !
  6. 6. GoodData Confidential. 2013 GoodData Corporation. All rights reserved. Our Customers Think BIG How do I use analytics to transform my business? How do I get critical analytics to my customers? What data am I not capitalizing on yet?
  7. 7. GoodData Confidential. 2014 GoodData Corporation. All rights reserved. Embedded Analytics Powered By GoodData
  8. 8. GoodData Confidential. 2014 GoodData Corporation. All rights reserved. 40,000+DWHs under management 99.5% Uptime SLA 85% Adoption Terabytes of Data under management 100+ Powered By Partners 1,500,000 Data integrations per week 72k Users at one partner Security Certified OUR GOODDATA
  9. 9. GoodData Confidential. 2014 GoodData Corporation. All rights reserved. 9 Managing Partner/Co-Founder NextWave Performance NOW VP, Product Management/Service Design International Asset Systems Managing Director EffectiveUI Director, Solution Design SAP Labs VP, Product Management Retreon Sr. Director, Engineer Program Management Qwest (LCI) . . . BEFORE Sr. Director, Product Strategy & UX ServiceSource Im Kevin Smith
  10. 10. GoodData Confidential. 2014 GoodData Corporation. All rights reserved. 10 This is NextWave Performance Based in Denver, CO Established 2005 Product strategy Performance strategy What should this product do and for whom? How can I optimize my services and processes
  11. 11. GoodData Confidential. 2014 GoodData Corporation. All rights reserved. Ive implemented Powered By four times 11 International Asset Systems Dispatch Manager Ad hoc analytics for container logistics International Asset Systems Equipment Repair Ad hoc analytics for inventory repair ServiceSource Renew OnDemand Ofine analytics for sales renewals DemandBase Performance Manager Analytics for ad campaign management
  12. 12. GoodData Confidential. 2014 GoodData Corporation. All rights reserved. My GoodData implementation statistics number of successful Powered by GoodData implementations 12 4 90 100 average days it took from project concept to project implemented percent of time GoodData was ready before any other part of the product
  13. 13. GoodData Confidential. 2014 GoodData Corporation. All rights reserved. % of times go-to-market issues have had been more problematic than technical issues 13 100 And
  14. 14. GoodData Confidential. 2014 GoodData Corporation. All rights reserved. Poll - Which best describes your company? 1 - Evaluating embedded analytics or a white-label offering 2 - Currently in the development phase 3 - Development complete, pre-launch 4 - One or more products in market 5 - Dont know / unsure Type Your Answer In The Q/A Box
  15. 15. GoodData Confidential. 2014 GoodData Corporation. All rights reserved. 15 How do you avoid the major go-to-market mistakes for a Powered By product?
  16. 16. GoodData Confidential. 2014 GoodData Corporation. All rights reserved. You need to plan beyond just the technical details Determine vision for the analytics within core product Perform persona denition/key questions Dene initial dbs/metrics/ reports needed for personas Identify data sources for analytics Perform initial data extracts Dene internal processes (provisioning, support) Create initial project Create ETL processes QA all calculations for metrics/reports QA ETL process Provide training to Sales and Support teams Modify contract language (3rd party, SLAs, bench, etc) Have customers sign updated contracts Establish on- going training system Sign-off on metrics/reports Sign-off on ETL All contracts updated Update collateral, logos, ads, etc. Perform friendly customer beta Gather beta feedback Fix issues/ roadmap needs Start Ready to on- board users Implement SSO Embed BI system in iFrame in app Perform QA Determine integration with product Determine go- to-market/offer package, pricing Develop rollout plan Pricing strategy QA inadequate Marketing plan Training plan Customer beta Change management Product Denition 1 User Denition 2 Selling plan 3 Legal details 5 Support processes 4
  17. 17. GoodData Confidential. 2014 GoodData Corporation. All rights reserved. ! The Five Proven Strategies for a Successful Analytics Product Launch
  18. 18. GoodData Confidential. 2014 GoodData Corporation. All rights reserved. Know how BI will fit in with the existing product1
  19. 19. GoodData Confidential. 2014 GoodData Corporation. All rights reserved. 19 What is the product? Key Product Decisions We Really Should Have Considered Before Starting Implementation Who gets to use it? Whats the tiering/ pricing structure? Is GoodData white-labeled or black- labeled? How is it sold (same contract, separate paper, etc.) How are custom requests handled? How are legacy customers brought on- board? What is the business problem being solved though the addition of analytics? 1
  20. 20. GoodData Confidential. 2014 GoodData Corporation. All rights reserved. 20 What is the product? Product Workshop Key Product Decisions We Really Should Have Considered Before Starting Implementation Who gets to use it? Whats the tiering/ pricing structure? Is GoodData white-labeled or black- labeled? How is it sold (same contract, separate paper, etc.) How are custom requests handled? How are legacy customers brought on- board? What is the business problem being solved though the addition of analytics? 1
  21. 21. GoodData Confidential. 2014 GoodData Corporation. All rights reserved. 21 Decide what you want to be when you grow up Select your personas Develop your pricing/tiering model Determine responsibilities Identify boundaries The Workshop1
  22. 22. GoodData Confidential. 2014 GoodData Corporation. All rights reserved. Decide what you want to be Framework from Reaching Escape Velocity, Geoffrey Moore, 2012 Differentiate Neutralize Optimize Core Value Key Metric Main Challenge Separation Unmatchable How far? Comparability Good enough How fast? Productivity Best in class How deep? 1
  23. 23. GoodData Confidential. 2014 GoodData Corporation. All rights reserved. Because it determines your tactics Framework from Reaching Escape Velocity, Geoffrey Moore, 2012 Differentiate Neutralize Optimize If you choose Instead of You get Parity with the competition vs Unmatchable functionality Squandered resources as competitors quickly catch up Best-in-class vs Good enough Wasted budget Good enough vs Best in class Higher operating costs than the competition In this mode 1
  24. 24. GoodData Confidential. 2014 GoodData Corporation. All rights reserved. 24 What do you mean by BI?1 You keep using that word. I do not think it means what you think it means.
  25. 25. GoodData Confidential. 2014 GoodData Corporation. All rights reserved. Category Types of Analytics Questions Answered Prescriptive Optimization Randomized testing Whats the best that can happen? What happens if we try this? Predictive Predictive modeling/forecasting Statistical modeling What will happen next? What is making this happen? Diagnostic Data exploration Intuitive visuals Why did this happen? What insights can I gain? Descriptive Alerts Query/drill-down Ad hoc reports/scorecards Standard reports What actions are needed? What is the problem? How many, often, where? What happened? SOURCE: Disambiguating Analytics, July 2, 2013, Sanjeev Kumar, International Institute for Analytics SOURCE: Magic Quadrant for Business Intelligence and Analytics Platforms, February 5, 2013, Analyst(s): Kurt Schlegel, Rita L. Sallam, Daniel Yuen, Joao Tapadinhas Capability 25 What do you mean by BI?1
  26. 26. GoodData Confidential. 2014 GoodData Corporation. All rights reserved. Stuff We Wont Do Stuff We Wont Do StuffWeWontDo StuffWeWontDo Set your product boundaries1 The Product Stuff Well Do as Part of the Core Product Stuff Well Do for an Extra Fee
  27. 27. GoodData Confidential. 2014 GoodData Corporation. All rights reserved. Sample pricing & tiering plan Standard Included for all customers Uses standard project/ template No customization Users cannot modify dashboards No internal or external benchmarking 1 year historical data Plus Pro Upgrade from Standard Uses standard project/ template Customization for an additional fee Users cannot modify dashboards Internal benchmarking included no external benchmarking 2 years historical data Upgrade from Standard/Plus Uses standard project and is customized per customer needs Users can modify dashboards Includes external benchmarking 3 years historical data +25% +50% 1 +5%
  28. 28. GoodData Confidential. 2014 GoodData Corporation. All rights reserved. Go minimal first and evolve1 FULL PREDICTIVE for version 1.0! De-risks decisions Establishes a roadmap for future development Allows for emergence