Showing posts with label Panels. Show all posts
Showing posts with label Panels. Show all posts

Saturday, November 1, 2014

Big Data: From Hype to Value


Do you think ‘big data’ is over-hyped? Are you tired of hearing about its potential and want to know how it affects the bottom-line? Will Hayes (CEO, Lucidworks), Phil Kim (Cap One), Michael Morrison (CEO, Datawatch), Adam Towvim (CEO, Trust Layers) share their perspectives on how companies are deriving value from big data today, moderated by Andrew Burton (CEO, Logentries).
As the panel traversed topics ranging from hiring practices in big data to data governance and protection, there was one major reoccurring theme: big data is not the same as the big answer. As Adam Towvin eloquently put it, “sometimes it’s not about finding the needle, it’s about building the right the right haystack.”
Much of the reason that big data as a field feels like hype is because of the ways it’s being described as a way to find answers and solutions for a huge range of previously unsolved challenges – and those answers have not been forthcoming since “data science” became an industry buzzword.
But as our panellists today have outlined, that’s partially because of the way big data is being misinterpreted and partially because of limitations in data usage and lack of expertise in the field.
Will Hayes kicked things off reminding us, "don't get infatuated with technology, get infatuated with results,” a sentiment echoed by the rest of the panel. Phil Kim agreed that big data is in stage where people don’t understand what it is and how it can be used – and although there are great tools for extracting value from data, people aren’t always sure on how to use them.
The biggest benefit of big data at the moment, said Towvin, is that data helps companies innovate faster and improve business in ways it was impossible to do before.
Andrew Burton turned the panel to the question of how “offensive or defensive” data should be in bringing data science practices to other parts of the business.
While the group agreed that an offensive approach was important for educating others about the value and limitations of big data, as well as formulating questions and helping customer-facing teams build better products, there was some discussion of the tension that other departments (particularly legal) might feel when large pools of data across the company are thrown together and leveraged in this way.
When it came to data governance and protection, the panel acknowledged the importance of protecting data but Towvin in particular felt the aggressive ways in which data was encrypted and hidden away undermined those data true potential. While protection was important, there is a sense we are selling customer short by using that data to make better decisions in areas ranging from health to consumer products to personal finances. Kim highlighted Capital One’s practice of putting risk management and marketing teams in the same room so that they can jointly solve problems of how to protect and use data effectively at the same time.
The audience was curious about how to prevent people from confusing correlation and causation – a challenge the panellists admitted is almost impossible to solve. Their solution? Hire the right people, experts with deep insights to help them avoid these biases.
Of course this naturally led to a discussion of how to build the right team and make the right hires for the field. Kim explained the challenges he faced explaining to hiring departments what a data scientist actually was, but all of the panellists agreed that the most important trait for a data scientist was a deep intellectual curiosity, as well as scientific yet creative mind that can absorb the quantitative challenges of big data while still looking for interesting patterns.
Fortunately for the students in the room, Michael Morrison spoke to the need of these big data companies and teams to hire “the next generation.” He pointed out that many of these companies need to do as much to market themselves to talent as candidates need to do to market themselves to companies. Morrison highlighted an example from Datawatch – they opened an office in Boston as they knew it was a more appealing location for the type of people they wanted to attract.
Looking forward, the panel spoke passionately about the benefits that real time analysis of streaming data will provide to the industry.
Thank you to Will, Phil, Michael, Adam and Andrew for a great overview of this fascinating and fast-moving field.

Sunday, November 4, 2012

The Impact of Big Data

Ali Riaz, Attivio
Ari Gesher, Palantir
Fred Shilmover, InsightSquared
Colin Hill,GNS Healthcare
Sam Bisbee, Cloudant
Kent Bennett Bessemer Venture Partners (moderator)

Probably the biggest audience for a non-keynote talk today!

Great panelists from all sides of big (and small but very messy) data - healthcare, military, retail, internal productivity and HR.

Turning the huge streams of data captured by new technology into useful information for making decisions or understanding complex systems (from pleasing customers to treating diseases).


Social Media in the Enterprise

Thanks to:
An Le, Yammer
Steve Garrity, Hearsay Social
Daniel Freeman, Atlassian
Michael Scissons, Syncapse
Tom Davenport (moderator)

Employees will find a way to use the tools they need to do their job - despite internal company rules.

Coordination of social networks and enterprise tools is already happening, but most companies find they are still using multiple systems to communicate or find information.

Mobile allows real time feedback from and to customers but also problem solving on the go (such as code checking in a bar with your team).

Companies' culture really decides how internal social networks are used - some management will welcome open discussion and criticism while some react badly...


Subscription Business Models: Evolution or Fad?

Subscription Business Models: Evolution or Fad?
 
We will debate the merits and flaws of the increasing proliferation of companies (not just cloud software+services) adopting a subscription-business model (i.e. subscriptions, usage, metering, etc.). For example, what consumer behaviors are driving this change? Or is the drive coming more from the investor community rewarding recurring business models with higher valuations? What are the challenges with this type of business model, specifically for each of the panelists and how it impacts their future strategy.

Moderator:
Paul Maeder, General Partner, Highland Capital Partners

Panelists:
Daniel Freeman, VP or Product Marketing, Atlassian
Hope Neiman, Chief Marketing Officer, EMN8
Shawn Puddester, Director, Polycom
Sam Clemens, InsightSquared
Brent Chudoba, VP, SurveyMonkey

Q. You work for VC companies, which means you have a high cost of capital. A lot of people have a lower cost of capital than you do. Why rent instead of selling?
  • VCs value the monthly recurring revenue stream than getting cash upfront and capturing a percentage of the LTV. If I have 30 days or a year to sell them more products and services because they are a subscriber, we can get more value.
  • The predictability is good.
  • There is an alignment between the pricing system and the type of thing you're building. 
  • We price for market share. 
  • With competition in market place with open source technologies, etc., our goal is to have massive adoption. This allows us to have
  • Upsell is really the magic on the consumer side. What are we acquiring a customer for? We have extremely robust models for that. Our cost for acquisition has to be less than half the cost of the lifetime value of the customer.
Q. Churn is the ugly underbelly of subscription business models. What are the dynamics of churn and how it changes over time?
  • We segment churn of those who are active vs. those who are passive.
  • At my prior two companies, less than a 10% churn rate for active customers. I don't know very many less than 5%
  • There is a natural floor for churn, like the natural unemployment rate
  • Another thing is how do we calculate LTV? If you have a 5% churn rate for each month. So your customers are lasting for 20 months (1 month divided by 5%). So that means that your customers last for 20 months. If your subscription is $1000, then your LTV is $20,000.
  • What happens if a customer comes back? They quit in 1 month, but come back in month 4. If you hold the data, that can be really valuable.
Q. When is a freemium model appropriate?
  • SurveyMonkey: When you have a fairly low-priced service, it's a good way to let people test your product. Whether that's a free trial or freemium depends. But we are most successful in pockets like nonprofits and small firms, where they may not want to get a budget for a subscription until they know it works. So freemium allows them to do some things, but if they want to export data or add more questions, they need to move to the paid model.
  • Beach Body: We tried to get people to engage with a friend
  • I like free trial, but I'm not a fan of freemium for startups. It's too easy to build something that people can use but not pay for. So go build something that people are willing to write you a check for.
  • Freemium can be a cop out. Business doesn't start until you get paid for it.
Q. After I've subscribed to your product for 5, 8, 10 years, should I get a Buy It Now option so I can buy the license for life?
  •  It's hard because we can shift new stuff and change prices and change currencies. We may want to reserve the right to have price increases. We may also want to change the subscription itself, such as moving from a monthly to a 3-month subscription.
Q. CPA - cost per acquisition. Can you talk between relationship between LTV and CPA?
  • If you're running a subscription model, cost acquisition per customer divided by lifetime value is the most important ration. If CAC / LTV < 1, you probably don't have a value.
  • In consumer it's a bit different, because you can grow the LTV because you have a lot more products you can upsell.
Audience Questions

Q. For consumer companies, where you've already had a basic business model, what is the incentive to switch to subscription?

Shoedazzle actually got rid of the subscription model. At Little Black Bag, lots of new and trial items. At Rent The Runway, looking to do partnerships that become a secondary cash flow basis that is on the subscription model. Otherwise, you get a problem like Gilt and Rue La La where it gets tiring and people are sick of opening your email.

Q. What about customer support policies?
  • In a consumer business, you have to have free returns today. In reality, people don't generally cash in as often as you think. At Beach Body, there was a less than 2% return rate.
  • Just give people their money back. If it's $20 or $100, it's not worth upsetting them and having the customer yell on Twitter. Give it back, and give it back fast.
Q. Does too low a churn mean you're not charging enough for your product? Are you leaving money on the table?
  •  Sure, but we don't want to upset our original user base.
Thanks panelists for coming out today!

Hardware & User Interface Design

Ian Bernstein,Orbotix
Matt Rodgers, Nest
Mariah Levitt, Continuum
Micah Yairi, Tactus Technology
Michael Grinich, MIT Startup Bootcamp (moderator)

Hardware poses some serious design development issues not usually associated with tech - how to prototype, get consumer feedback and iterate?

Combining physical design with user interface - create an open API to be truly adaptable and exciting!

The panel says haptic displays and texture feedback may be big in the future but simplicity and user-focus should be the number one priority.

Why are user interfaces of design tools so frustrating and unintuitive - market size and development time but could B-school students help?


First Panels: Future of Music

Huge thanks to:
Gary Liu, Spotify
Elias Roman, Songza
John Petrocelli, Bulldog Digital
Alex Luke, EMI Music
Steven Scheider (moderator)

A great turnout for an important subject - streaming, live, subscription...

FYI
20th most popular soundtrack to make love to in U.K.: Star Wars! Thanks Gary from Spotify


Mobile Advertising Panel

Welcome to Mobile Advertising!

This panel will focus on how advertising is shifting to mobile and the effect on marketers, ad networks, publishers and users. How does mobile affect advertising strategies and associated ROIs for marketers? What is happening in performance based marketing?

Moderator: 
Michael Wolf, Activate

Companies:  
Kiwi Inc., Google, Jumptap, Mr. Youth

Summary: Q&A style between moderator and panelists. 

Q. Introductory question
  •  Trend in social is that the story is becoming the ad unit. People want increased relevancy in what the content is.
  • Advertising is playing a clear role in fueling what services people are consuming now. When you look at metrics like click through rates, brand impact studies, and so on and so forth, mobile is 2-6X more effective than PC and online equivalents. The lack of pixels is more advantageous because you have more share of voice - on a PC, you can have a lot of different ads and browsers. On mobile, you really can only have one ad at a time.
  • It's crazy to think that mobile is the most personal device we have, but we have the worst ad experience on it. 
  • When I talk to my team, I ask them where are people are. Where are the gamers? Where are the consumers we want? We don't want to invade every mobile phone, just the ones that we want.
Q. 60% of mobile advertising is from search. Where are the other forms of content is mobile advertising going to accompany. 
  • Text formats are the easiest to execute. All advertising at the end of the day is information.
  • From Google's perspective, we want to be sensitive to privacy. We treat privacy very seriously. 
  • In the long-term, it's the point that your phone is the single-point of access for a single user. For PC and tablets, you could be sharing this. But people in the household have their own phones, and so there's less noise, better data, and better targeting.
Q. Let's talk about social. How do you see social playing out in terms of social advertising.
  •  What's the KPI that brands are looking at? For social, it's always been about engagement. And for engagement, it's been the amount of positive feeling. However, it's not immediate. People can love a brand, but that doesn't mean they are going to go out and buy it right away. Being a traffic driver doesn't incite an action that's going to tie back to a KPI.
  • Ad buying can take place from CMS software that manages community conversations across Facebook, Twitter, etc.
  • If you spent 2% on social and 1%  on mobile, an ad agency isn't going to tell you how to optimize those channels. They're worried about the other 97% of spend that is above the line.
  • A lot of gamers on facebook create fake accounts so the don't spam their friends with FarmVille requests. So we have to almost create our own gaming environment because of this dynamic.
  • With social, ads become an experience. The more packaging you do, the more incentive users have to share it. Why not have an ad go viral?"
Q. Last year's big words were "big data". For next year, it'll probably be "ad tech". What do you see?
  • Windows 8 is probably the new direction. Maybe they are too early, but I think that's where the industry is going to go.
  • The ecosystem is changing so fast. Every year, there is a new phone. The industry is continuously changing.
  • A problem with HTML 5 is adoption rates. Luckily with Android there is a fast release cycle.
  • You have advertisers who may get bidded out of fixed inventory. 
Audience Questions

Q. When you talk about data and cookies, you've been talking about front-end. In my experience, it's been connecting the front-end to the back-end. Is that an issue? If so, what do you think is the solution?
  • You're right - the issue is in the availability of inventory. On Apple's platform, for example, it accepts first-party cookies before third-party cookies.
  • People are moving onto IFDA which is an identifier for ads. Users will be able to turn off of tracking for specific identifiers.
  • Cloud is changing this like iCloud which recognizes that you have multiples devices.
  • Infrastructure is being built around this to fix it.
  • Anonymous ID will happen at some point, and float through the ecosystem. I think this issue will get solved pretty soon.
  • From an analytics perspective, we are changing the way tracking is done and working with clients to get digital CRM and conversation tracking. This starts with device level or channel level. It's starting.
Q. Do you think there will be a premium for mobile advertising?
  •  It's getting cheaper and cheaper because there are so many other options. A big player like Weather.com will be able to sell 10% of their inventory, but then they have to get other things done.
  • DataLogics and Targus provides closed-loop analytics...those kinds of analytics is coming to mobile.
  • There is much more supply than demand for mobile ads. Where you may be able to see a premium is in silos of inventory like rich media and attaching third party data.
Thanks panelists for coming to today's panel!





First Panels: Mobile Advertising

The mobile advertising panel is happening now:
Mihael Mikek, Celtra
Vishal Sapra, Mr.Youth
Jorey Ramer, Jumptap
Wook Jin Chung, Google
Jean-Paul Sanday, Kiwi Inc
Michael Wolf, Activate (Moderator)

Your most personal device - with you 24/7 but how can brands really make their ads relevant, engaging and a step forward from existing online?
(Geo location the next big thing or over-rated?)


Monday, October 31, 2011

Hot Startups @Cyberposium

Speakers from exciting startups speaking at Cyberposium this year.

A few of the panelists include:

  • Chegg: online textbook rentals for college 
  • TinyCo: maker of beautiful, fun and engaging mobile games 
  • Birchbox: subscription-based luxe beauty samples service 
  • Warby Parker: delivers classically crafted eyewear at a revolutionary price point 
  • Boxee: maker of device to watch online video content from your TV 
  • Ustream: provider of live, interactive broadcast platform
  • Pocket Gems: maker of free-to-play mobile games

Do be sure to check out their websites to learn more, and speak to the panelists at Cyberposium this Saturday, November 5, at Harvard Business School!

Wednesday, October 12, 2011

Cyberposium Preview: Panels and Panelists

Get excited!

This year's Cyberposium Panels will cover a wide range of topics facing the industry, from rethinking ecommerce to exploring new and powerful ways of online marketing.  Examples of this year's panels include:
  • "eBooks: From Print to Digital": Traditional "print" materials are increasingly being consumed via digital devices. How will e-content be published and licensed in the future? Which devices will the mass-market adopt for their e-reading needs? Will paper-based books and traditional retail models interact with e-books going forward? Who wins and loses as ereading gains critical mass?
  • "Cloud Apps for the SMB": Cloud services are radically transforming how small businesses operate. Web-based services like filesharing, video conferencing, CRM and social networking are being adopted at lower costs and with no training requirements. Which new entrants and emerging opportunities have the greatest distruption potential? How will revenue models evolve?
  • "Bridging the Online/Offline Disconnect": New business models and mobile proliferation are unlocking powerful new services that connect online and offline behaviors. Consumers are increasingly integrating the internet into their everyday lives and receiving real-time services and information. How are "online" tools evolving to impact, enhance and disrupt our "offline" lives? How are business able to capture this value? Are these services too complex to benefit mass-market consumers?
  • "Mobile Gaming": The mobile device is on its way to becoming a mass-market gaming platform. Multi-player and social features, freemium games and tablet versions are increasingly populating the market. How big will this market get and how are gamer demographics changing? Who will own the underlying platforms and will they implement tougher terms for game developers?
Panelists include representatives from hot start-ups including Birchbox to market leaders including Google and Intuit.  In addition, this year's participants will have four panel tracks to choose from:
  • Digital Media
  • Enterprise
  • Consumer Web
  • Mobile
 Stay tuned as we announce our speaker and conference lineup!