Brightblue travels to Australia

Brightblue were honoured to participate in the Mayor’s International Business Programme – an initiative aimed at showcasing the best and brightest of London’s fast growing and innovative companies globally.

“It was a fantastic experience, that gave us the chance to demonstrate our capabilities to blue chip companies in Australia. We’ve had great feedback and are looking forward  to working with the people we met in the near future!” Ruan vdV – Director @ Brightblue Consulting

 

 

 

                                                                                                                       

Top 5 Reasons Why You Need a Data Expert

The analytics sector has grown exponentially as terabytes upon terabytes of data become available every day. As technology becomes increasingly efficient, machine learning models have heavily automated data analysis. Is Big Data and Machine Learning enough to make business decisions based on your data?

I would argue, absolutely not – without data expertise, industry knowledge and the willingness and ability to question the results, output from automated models is as meaningless as raw data.

Big Data Isn’t Useful Data

From data collection to results reporting, a data expert understands that collecting and manipulating the right raw data lays the foundation for sound analysis and clear reporting. For example, if you want to explain sales of a supermarket product and you attribute any rise in sales to media campaigns, you are ignoring the effect of all other factors like promotions, display, or the economy. In practice, this can be difficult if the data isn’t clean, complete, or even available. While data experts aren’t magicians, they’ve seen it and can handle it all: missing data, incomplete data, and generally “messy” data.

The Only Constant Is Change

It is important to have continual test and learn approaches imbedded in your analytics function in order to adapt and account for changing market conditions. Forecasts will only go so far and won’t account for any fundamental changes in the market. For example, while the results from a 2013 report might have been robust at the time, it doesn’t account for events such as Brexit that have notable political and economic implications. In addition, each new marketing innovation and campaigns can will have a different effect on your KPIs. The faster your business and markets move, the more essential frequently updating your world view to your marketing strategy.

No Model Is an Island

Although a carefully tuned model can help you understand what is affecting your KPI, it is also important to combine this with other insights. MMM is able to determine what factors affect sales for example, attribution modelling would be able to determine how users are directed to websites. Combining both MMM and attribution would therefore provide you with an overall picture of what is the impact of marketing on the KPI as well as how users are drawn to the website to potentially make a purchase.  It is important to look at the full story that the data is trying to tell you, which requires you to look at more than one model or type of analysis.

Sales Reports Can Be Misleading

Sales reports tell you what is happening with your KPI, but not why. Sales reports fall into the fallacy of confusing correlation with causation. As an example from the Journal of Chemical Information and Modelling demonstrates, just because greater fresh lemons imported from Mexico is correlated with lower highway fatalities does not mean that the American Association of State Highway and Transportation Officials should lobby the government to actively pursue greater import of Mexican lemons. Businesses need to take the same level of care to understand what drives their KPIs so that they can optimise their media spends and maximize ROI.

To Conclude

Undoubtedly, there is a great potential to understand what drives  KPIs better than ever before given the technologies and amount of data available. However, it is important to have a data expert that understands how to collect, analyse, and translate statistics to plain English in order to derive the most value from your data.

 

For more information on how we can turn your raw data into actionable insights, feel free to contact us.

 

By Jonathan Ramirez, Brightblue consulting, London UK 

New additions to our team!

Ruan and David, welcome to Brightblue

We are excited to announce that Ruan van de Venter and David Walsh have joined Brightblue.

Ruan has more than 6 years of experience in upper management positions, working within the analytics/predictive modelling sector for companies like Ninah, Piquant Consulting and more recently MediaCom. He is an expert in the field of maths and stats, and is always happy to talk you through all the different ways Brightblue can help you boost your ROI.

David joined Brightblue as an Account Director, having previously been a manager in the business science team at Mediacom. His expertise in evaluating business and marketing strategy to help brands grow is what makes him a valuable asset for Brightblue and to his clients.

 

Check them out on LinkedIn:
Ruan vandeVenter
David Walsh

Brightblue selected as an official MMM partner for Facebook

We are pleased to announce that Brightblue has been selected as part of Facebook’s Marketing Mix Modeling Partner program. This will give us access to Facebook, Instagram and Audience Network data for our clients: more detailed and accurate data to further improve our advanced modelling techniques, as well as up to date information on platform updates.

This is in recognition of Brightblue’s independent and innovative approach to market mix modeling and measuring media, and aligns with our proven track record in social which includes winning several awards for measuring social media such as 2 x Cannes Lions, 2 x IPA awards and selected as a best practice social media case study in the #IPASocialworks publication.

This partnership further strengthens our position in producing highly accurate models across a range of different industries including e-commerce, retail, FMCG, telecoms, postal services, travel and finance/banking sectors.

Mike Cross, Founder at Brightblue said “We are delighted with being selected on the program with Facebook, helping us to deliver the best possible service to our clients with the most accurate data and getting a true fix on the impact of social media.”

Out of the Blue – April 2017

 

Out of the Blue April ’17

Interesting snippets from the world of data

In this month’s Out of the Blue, we’ll be looking at: What links a clever astrophysicist and racial diversity? What does a hard Brexit even mean? How do you measure a commute? and What goes on in our skies in a day.

 

 

 

An astrophysicist makes a detailed map of US racial diversity

Tomasz Stepinski turns his attention to Earth, with this stunning map.

 
The EU isn’t the only tie that binds us to Europe
Europe is a complex system of treaties and agreements, here’s a clever reminder of what will remain…
 

My commute is 42 minutes, sometimes, on a good day, mostly…

Turns out the better you measure it, the longer it gets!

 

Mapping the skies!

A fantastic representation of what happens in the heavens above over a day in May…
 

Have a fantastic month and May the 4th be with you!

Ruan

 

 

 

 

See what Brightblue can do for your business

Get in contact