Data Integration – The Value from Listening

Part 2: Value of Listening

Part one of Anexinet’s big data series focused on the importance of listening to unstructured data. Part two of the series dives deep into Data Integration. First and foremost, what is data integration and more importantly why should you care about it? In short, data integration combines data from previously isolated sources and turns it into meaningful and valuable information. A complete data integration solution delivers trusted data from a variety of sources to ultimately yield powerful business insights.

We will not focus on the technical aspects of data integration, instead we will detail key challenges of data integration and how the results from unstructured data listening can be integrated with more traditional structured data sets to provide a complete view of your customers.

A key component of data integration is deciding which data sets to use and how to integrate them. It is critical to identify the key business questions that need to be answered and which fields can be combined across different data sets to answer those specific questions.

Concerns about data access, security, and storage are the common obstacles that clients face in this type of data integration. We recommend a flexible service approach that includes on premise, cloud, or hybrid implementations. Every data set is unique and requires compatibility with various platforms and technologies to handle both the integration and output of the data. The output of this integration can vary from dashboards to reports. A flexible approach to the technologies involved and how they are deployed is the best way to ease any data access, security, or storage concerns.

An additional challenge with integrating unstructured data is that it is complex and messy. One of the main outputs of “listening” to unstructured data is ultimately providing structure to the data by categorizing and filtering the data. Once the unstructured data is categorized into a structured data set, it can then be more easily integrated with other data sets to answer specific business questions. Next we will highlight a few simple data integration examples.

Using their proprietary methodologies, ListenLogic independently tracked conversations from patients regarding switching from Byetta to Victoza occurring on open social media over the course of 8 months. As a secondary data set, ListenLogic overlapped Victoza’s estimated Rx data, which would have been delivered on a 2-3 week lag.

In the chart below, the orange line shows online patient conversations discussing switching (SC) from diabetes brand Byetta to Victoza on a daily basis. The green and pink lines show the estimated scripts filled per week at the pharmacy. Data shows an acceleration of switching conversations in July and Aug before the script data is available, which ultimately could be used as a predictive indicator.

Victoza Byetta Switching Rx

Separately, Listenlogic also tracked an active OLM campaign for one of the products, looking at the co-presence of the campaign with mentions of switching. By linking multiple data sets together, they were able to evaluate the possible impact of that specific campaign.

A second example of data integration is focused around an end-to-end managed services solution that integrates a client’s existing vendor data into interactive brand dashboards that:

  • Track overall brand awareness across offline/online channels
  • Calibrate ATUs with sales (Rx), claims, social media, web traffic, and search data
  • Create “scoring metrics” by weighting different data sets
  • Store offline brand reports in a central database for trending
  • Provide access to all appropriate brand stakeholders for continuous insight

Integrating this data allows brand teams to turn “offline” legacy reports into interactive dashboards that calibrate both internal and external data such as sales, claims, social, call center and other key performance data while giving organizations the ability to neatly store and track historical data.

Dashboards and reports are also easily customizable, allowing end-users to view an array of combinations of data through multiple visual representations, such as:

ATU Integrated Data Analytics

ATU Integrated Data Analytics

No one will disagree that data is the pulse of a business’ lifeline, and it is growing at an exponential rate. Harnessing the power of this data is crucial to the success of your business!

We will wrap up this series with an in-depth look at the ongoing implementation of integrated data solutions into your business. We will explore how companies can leverage integrated data on an on-going basis from full service solutions to API feeds back into your current systems.

Unstructured Data Analysis: Part One – Data Listening

Unstructured Data Listening

This is Part One of a three-part series that will discuss the advantages of unstructured data analysis and the impact it has on business decisions. This piece will focus on the science behind “listening” to the data that is available. The next step in the process, which will be discussed in Part Two, is the integration of unstructured data with other internal and external structured data. That can only be done once proper data listening has been accomplished. The series will conclude with a discussion of the implementation and continued tracking of these data sets. Now, let’s discuss how we can listen to the growing forms of unstructured data!

The foundation of market intelligence is evolving as technology advances and intersects with the “Age of the Consumer”. Traditionally, market researchers have been limited to using small sample size surveys and focus groups to extract organic behavior information from the minds of their consumers. However, we live in the age of unstructured Big Data generated by today’s empowered consumers. In addition, until recently, the technology & methodology to “listen” to unstructured Big Data sets simply did not exist due to its messy nature.

It is imperative to understand the unique channels that today’s empowered consumers leverage. Consumers today turn to social media to share their unsolicited experiences, ask and answer questions, and offer advice. We use our mobile phones to complete open-ended surveys, send emails with complaints and questions, and communicate with product contact centers. The enormous volume, incredible variety, and explosive velocity of the data sets associated with these activities provide a perfect opportunity for companies to “listen” to what their consumers are saying. Let’s look at three examples:

1. Social Media

Social Media, the largest single source of publicly available data offers rich unbiased & unprompted insights into the market and brand perceptions. Understanding this data empowers your brand to respond to the rapidly changing marketplace with agility and authenticity.

For instance, a reported 102.3 million patients turn to the Internet for prescription drug information annually, a number that has doubled from five years ago. According to Manhattan Research, more than two-thirds of all patients now use social media to search for medical information. This avalanche of data has given pharmaceutical and healthcare companies the ability to gain a deeper understanding of their consumer so that they can better measure their mindset, needs, and decision drivers along their journey. This contextual analysis offers insights into the Who, What, When, Where, and Why.

2. Contact Centers

That’s right – the contact center! Similar to social media, contact centers are filled with unbiased organic content via the conversations being had every day between consumers and contact center liaisons. Embedded in these conversations are customer-level insights that contain signals, trends, and indicators that can help improve overall brand strategy and performance. Brands that harness the power of these conversations can:

  • Discover drivers of customer attrition
  • Identify emerging opportunities and threats
  • Improve patient experience
  • Gain competitive insights
  • Enhance education and messaging

3. Open-Ended Survey Responses

Surveys are a tried-and-true tool in the market researcher’s toolkit. Does your company conduct open-ended surveys? If so, how are these responses being analyzed and integrated into your brand strategies?

Unstructured data analysis of open-ended survey responses provides deeper insight into the Key Performance Indicators (KPI’s) and metrics that the surveys are designed to address. The results from the unstructured data analysis can also be easily integrated with the Net Promoter Score analysis to find additional drivers of loyalty and attrition.

An increasing number of business stakeholders are “listening to” the large amount of organic data available about their businesses brands, services, markets, and competitors. To harness the wealth of understanding from this big messy data—ranging from consumer insights to competitive intelligence—business units are turning to next-generation processing technology and complex linguistic modeling to distill relevant information and discover actionable insight. Ultimately, they’re using these powerful insights to set strategy, answer critical business questions, and drive innovation.

Keep an eye out for Part Two of our series! We will examine how businesses can take their unstructured listening data sets and integrate them with structured data sets in order to discover holistic insights and implement solutions which impact their bottom line.

About Anexinet

Anexinet works with clients to strategize on, implement and sustain digital solutions through the best combination of industry-leading cloud and vendor products. ListenLogic provides unstructured data analytics and insight discovery solutions to leading corporations. From real-time enterprise risk sensing to deep insight into consumers, markets, brands and competitors.

Anexinet Acquires ListenLogic to Expand Digital Solutions Portfolio

Anexinet Corporation has acquired ListenLogic. For Anexinet, a Marlin Equity Partners portfolio company, this acquisition further enhances its market-leading portfolio of technology services and solutions.

“As a leader in unstructured data analytics and social intelligence, ListenLogic is a perfect complement to our existing digital and customer analytics solutions.” said Joseph Lanzisera, President of Anexinet. “ListenLogic’s focus on delivering world class digital solutions to its clients and on attracting top talent are directly aligned to the Anexinet model.”

“We share Anexinet’s vision for the need to improve how customer analytics help organizations drive their brand and marketing strategy,” said Mark Langsfeld, President, ListenLogic. “We believe all industries can benefit from integration of unstructured and structured data and we are excited to expand these capabilities with the addition of Anexinet’s technical team and partners.”

“We believe the combination of Anexinet and ListenLogic increases the addressable market for both businesses and expands Anexinet’s best-in-class portfolio of services into the rapidly growing unstructured data analytics market,” said Ryan Wald, partner at Marlin. “We look forward to providing continued financial and operational support to enhance the combined business’ services to meet the evolving needs of their customers.”

Joining Anexinet will offer a broader set of digital, strategy, and technology solutions to the loyal ListenLogic customer base. This will also expand on the digital offering set of Anexinet. The combined team will continue to offer new and innovative solutions as the technology and techniques of the customer centric digital landscape expands.

Crisis of the Week: DuPont’s Board Fight With Activist Investor | WSJ

The crisis this week involves DuPont Co. and its successful effort to defeat a slate of candidates to its board put up by activist investor Nelson Peltz and his Trian Fund Management L.P. DuPont was under pressure from Mr. Peltz to give him some board representation and to perhaps split the company to maximize shareholder value. In addition, the company and Chief Executive Ellen Kullman had to persuade shareholders to disregard recommendations from proxy advisors Institutional Shareholder Services Inc. and Glass Lewis & Co. to back Mr. Peltz.

Vincent Schiavone, executive chairman, ListenLogic: “I think Dupont/Trian is an important case study of how to handle the activist investor proxy fight crisis many chief executives and boards face today. Ellen Kullman and her team executed flawlessly from start to finish, as they needed to, to win against one of the best activists in the business, who had significant support from powerful allies.

“Kullman and her team were rigorous in their research and analysis of Trian and its allies’ positions and communications. They identified factual errors and debatable conclusions and very effectively used them to bolster their arguments. They communicated well against the activist positions while emphasizing their success, a clear strategy for the future and progress against that strategy.

Read the entire piece here.

Crisis of the Week: Lumber Liquidators Fights Flooring Foes | WSJ

Lumber Liquidators was the subject of this week’s crisis, as the company has seen its stock price take a wild ride down and back up after allegations raised in a ’60 Minutes’ story. The story alleged the laminate-flooring material sold by the company didn’t meet emission standards for the chemical formaldehyde. The story prompted one U.S. senator to call on federal agencies to investigate, and the company’s stock plunged as a result of the negative coverage.

Vincent Schiavone, executive chairman, ListenLogic: “Rule number one: Don’t make things worse! That is exactly what Lumber Liquidators did by agreeing to an on-camera interview. Lumber liquidators is experiencing an attack crisis in the digital world where consumers, media, activists, lawyers, regulators and politicians are aligned as stakeholders on an issue damaging to the reputation and value of the company.

“While the strategic goal driving stakeholders, short sellers and tort lawyers seems to be financial in nature, the enabling trigger issue is the health and safety of ingredients in the product. The core issue driving the conversation is corporate profits at the health risk of the customer.

“Lumber Liquidators chose to participate in the ‘60 Minutes’ story, something they should not have done. Often putting senior executives on the spot in an interview puts the company at greater reputation risk than issuing a statement. A written statement would have been less damaging. If a company is going to respond to an attack issue they need to be prepared to answer the key question: ‘What did you know and when did you know it?’ That answer determines if you can or want to apologize, take responsibility, reassure that all is OK and promise it will never happen again.

Read the entire piece here.