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Monetizing Your Data: A Guide to Turning Data into Profit-Driving Strategies and Solutions [Wiley, March 2017] by Andrew Roman Wells and Kathy Williams Chiang provides a framework and path for business managers to convert ever-increasing volumes of data into revenue generating actions through three disciplines: decision architecture, data science, and guided analytics.
Wells and Chiang identity that there are large gaps between understanding a business problem, knowing which data is relevant to the problem and how to leverage that data to drive significant financial performance. Using a proven methodology developed in the field through delivering meaningful solutions to Fortune 500 companies, Monetizing Your Data gives you the analytical tools, methods, and techniques to transform data you already have into insights that drive winning decisions. Beginning with an explanation of the analytical cycle, this book guides you through the process of developing value-generating strategies that can translate into big returns. The companion website, www.monetizingyourdata.com, provides templates, checklists, and examples to help you apply the methodology in your environment, and the expertise of Wells and Chiang offer authoritative guidance every step of the way.
“When we first started tackling this problem,” says Wells, “one of the key challenges we noticed was the siloed approach to the development and distribution of analytic information. The analyst was using a spreadsheet to do most of their analytical work. The data scientist was working on bigger analytical problems using advanced statistical methods. The IT team was worried about distributing enterprise reports to be consumed by hundreds or thousands of users. Small analytical projects that often lead to the biggest returns for the organization would fall into the gaps between the silos, unable to compete for organizational attention.”
Some of the benefits readers will receive from Monetizing Your Data include:
Turning information assets into revenue-generating strategies
Providing a guided experience for the manager that helps reduce noise and cognitive bias
Making your organization more competitive through analytical solutions centered on monetization strategies linked to your organizational objectives
Turning your analytics into actionable tactics versus simply “reading the news”
Monetizing your data to drive revenue and reduce costs
“This book is not about selling your internal data to other companies or consumers,” adds Chiang. “Nor is it a deep dive into each of the various disciplines. Rather, we provide you with an overview of the various disciplines and the techniques we use most often to build these solutions.”
From multinational corporations to single-owner small businesses, companies of every size and structure stand to benefit from the knowledge shared by Wells and Chiang. Monetizing Your Data walks you through the translation and transformation to help you leverage your data into value creating strategies.
Monetizing Your Data is scheduled to be released nationwide in March, 2017.
About Andrew Roman Wells and Kathy Williams Chiang:
ANDREW ROMAN WELLS is the CEO of Aspirent, a management-consulting firm focused on analytics. He has extensive experience building Analytical Solutions for a wide range of companies, from Fortune 500s to small non-profits.
In addition to his role as an executive, Wells is a hands-on consultant. He refined his craft in Silicon Valley working for two successful startups focused on customer analytics and the use of predictive methods to drive performance. Wells has also held executive roles in industry as Director of Business Intelligence at Capital One and built solutions for a wide variety of industries and companies including Coca-Cola, IHG, The Home Depot, Capital One, Wells Fargo, HP, Time Warner, Merrill Lynch, Applied Materials, and many others.
KATHY WILLIAMS CHIANG is an established Business Analytics practitioner with expertise in guided analytics, analytic data mart development and business planning. Prior to her current position as VP, Business Insights, at Wunderman Data Management, Chiang consulted with Aspirent on numerous analytic projects for several multi-national clients including IHG and Coca-Cola, among others. She has also worked for multi-national corporations including Telecommunications Systems of Trinidad and Tobago, Acuity Brands Lighting, BellSouth International and Portman Overseas.
Chiang is experienced in designing and developing analytic tools and management dashboards that inform, matter and drive action. She is highly skilled in data exploration, analysis, visualization and presentation and has developed solutions in Telecom, Hospitality and Consumer Products industries covering customer experience, marketing campaigns, revenue management and web analytics.
For more information, please visit www.monetizingyourdata.com and www.aspirent.com, and connect with both Wells and Chiang on LinkedIn.
Monetizing Your Data will be released March 27, 2017 and can be pre-ordered from Amazon and wherever fine books are sold.