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.

Study Confirms Social Risk a Top C-Suite Concern

Deloitte and Forbes recently released an executive survey titled ‘Exploring Strategic Risk.’ According to the research gathered from over 300 C-level executives, social threats to corporate reputation is now of paramount concern. In fact, 40 percent of the surveyed executives cited reputational risk as their top concern, compared to only 27 percent who cited competition.

This increase in concern for reputation protection is significant, growing 14 percentage points since 2010. The dramatic shift in focus towards reputational risk and away from economic, competitive and model risks is driven in large measure due to the explosive growth of social media, which allows for immediate, widespread engagement, making it nearly impossible for companies to address and manage the influential attacks on their brand, reputation and ultimately revenue without sophisticated detection an tracking solutions.

As Henry Ristuccia, Deloitte Global Leader, Governance, Risk and Compliance, explains, “The time it takes for damaging news to spread is quicker, it goes to a wider audience more easily, and the record of it is stored digitally for longer. Even in an environment where economic conditions remain tough and technology threatens business models, this is why companies place reputation at the top of their strategic risk agenda.”

As the focus of risk shifts towards this social dimension, the need for enhanced detection and tracking of these threats on a real-time basis has increased dramatically. To address this growing concern 52 percent of surveyed executives have increased the budget for and frequency of monitoring risks, with a focus on social threats and 43 percent have started to monitor and manage this aspect on a continual basis, realizing that social threats do not have business hours. These brands in large measure are moving away from narrow first-generation keyword tools and are shifting to sophisticated, big data, model-driven command centers.

Related Resources:

Deloitte / Forbes Exploring Strategic Risk Survey

SecurityWeek: Social Threats of Greatest Risk Concern for Executives

ListenLogic Business Intelligence Command Center Overview

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ListenLogic CEO Presents to Wharton SEI Center Board

ListenLogic Co-Founder and CEO, Vince Schiavone, recently presented at The Wharton School’s SEI Center for Advanced Studies in Management’s Annual Board Meeting. The executive session, titled ‘Bridging the Silos – Revving Up for the Next Big Thing,’ took place at the Kimmel Center for the Performing Arts and featured a wide array of session on topics ranging from the NFL to political campaigns.

Vince’s featured session, titled ‘Big Data Social Intelligence: Reducing Risk, Building Brands and Driving Growth With Social Media’ focused on how the crossroads of big data and social media is revealing unprecedented valuable insights and opportunities for companies and is becoming instrumental in growing and protecting corporations and their brands.

Participants in the session included executives from organizations like Advanta, Estee Lauder, Hewlett-Packard, The Milken Institute and SEI, among many others.

The Wharton School’s SEI Center for Advanced Studies in Management was founded in 1990 and was designed as the first “think tank” on the future of management education. Previous presenters include Peter Drucker, Kenichi Ohmae, Percy Barnevik, Esther Dyson and John Seely Brown.

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Brand Protection in the Age of Social Media

ListenLogic Chief Strategy Officer, Mark Langsfeld, recently hosted a focused webinar on the growing social risks and threats facing companies across the Food & Beverage industry. The session, which runs under 30 minutes, was attended by a myriad of leading brands across the food and beverage sectors and discusses an array of topics on social risk, including:

– Product recalls
– Extortion attempts
– Liability claims
– Employee sabotage
– Brandjacking

Mark also reviews how leading providers of food and beverage products are strategically protecting themselves against the growing social dimension of enterprise risk.

The key takeaways of this webinar include helping you to understand the complex social threats facing Food & Beverage companies, reviewing specific food and beverage social crisis cases and the corresponding lessons and providing insight into strategies and best practices for advanced brand protection.

If you’re interested in viewing a replay of the webinar please click the link below.

Webinar Replay: Brand Protection in the Age of Social Media