social media and analytics for product development.pptx

Social media and analytics on product developmentAslam Hirani

Customers and Devices used by them are connected

3 Billion internet users**

1.75 Billion smart phones/tablets*

4.9+ Billion Connected devices ***

● http://www.statista.com/statistics/278414/number-of-worldwide-social-network-users/ ** www.statista.com/statistics/273018/number-of-internet-users-worldwide/ *** http://www.gartner.com/newsroom/id/2905717

… and social media has become the largest focus group

Customers are fast in reporting product/service dislikes

2 Billion social media users*

Co-Creation market is projected to grow to 5.5 billion in 2015**

● Less than 24 hours after removing the offline maps browsing capability from Google Maps for Android, Google has returned the feature back to the app

● Urban Outfitters pulled a shirt covered in the word "depression" after outraged customers took to social media to rant.

● http://www.statista.com/statistics/278414/number-of-worldwide-social-network-users/ ** Business Innovation Observatory Contract No 190/PP/ENT/CIP/12/C/N03C01

Technology and demanding customer are pushing for faster response

42% of users complaining in social media expect 60 minute response time.

Only some companies are using social media for product development

kalypso survey

Companies are still catching up with demanding customer and new technologies

Only 33% analyze customer insight across organizational boundaries.*

96% of mobile apps currently lack in-line service **

● Forrester 2014 ** Gartner Research 2014

Challenges

… As Companies are facing multiple Challenges in using social media and analytics

Minimal IT Experience

internally to build or integrate complex

systems

No Formal Strategy for utilization of social media inputs

Unable to build/Utilize

collaborative focus groups

No Actionable analytics

Low Budget for Social/Device Analytics

… Its Time for sharing Knowledge

• How are you or your company's product development teams using social media and analytics for product development?

• Challenges that your company has faced in using social media or analytics for product development?

Social media and Analytics can be used in 3 different ways

• Ideation

• Design Improvement

• Remote Support

Social media and Analytics can be used in 3 different ways

• Ideation

• Design Improvement

• Remote Support

Online and Physical focus groups to engage the customers

Extract Information

Product Development

Involve experts

Share Knowledge

Resolve issues

Brainstorm ideas

Provide incentivesIBM

Vision

IBM - Internal Crowd sourcing of ideas - to bring emerging technologies in market early.

IBM CIO - “Internal community of innovators and early adopters to try new and beta versions of IBM technologies and give feedback to shape the development of the technology”.

Import.io engages users by sourcing their ideas and voting by peers

Generate new ideas for product development or solving specific problems using crowdsourcing and open innovation

Process to evaluate the ideas

Select the idea

Reward the participants

Open Innovation used by companies for research areas

Tata Steel using NineSigma open innovation framework

Some companies are using the competition route to solve problems

Industry leaders are using open Innovation to generate new Ideas

Samsung

“We get most of our ideas from

the market,”- Kim Hyun-suk, an executive vice president at Samsung,

in a conversation about the future of mobile devices and television.

Companies can reap 3 major advantages of Open Innovation

Wide Pool of Ideas

Fast Development

Cost Reduction

… Its Time for sharing Knowledge

• How is your company involved in open Innovation/Focused Customer Engagement?

• What are the challenges that your company has faced in using Open Innovation/Focused customer engagement?

• Are your product development teams involved in Open Innovation or Focused Customer Engagement?

Social media and Analytics can be used in 3 different ways

• Ideation

• Design Improvement

• Remote Support

product design improvements can be continuously done by listening to feedback from device usage

customers/ Device/ Software

Product development

Update of product features Usage of features

Product usage Patterns

Product performance Product issues

… and product design improvements can be done by listening to feedback from social media sources

Device/ Software

Product development

Update of product features Usage of features

Product feedback

Competitor feedback New feature ideas

Social Media/ Discussion Groups

Feedback, Product Ideas

… and product design improvements can be done by listening to feedback from warranty and customer support

Social Media/ Discussion Groups

Warranty/Customer Support

Device/ Software

Product development

Feedback, Product Ideas

Product Returnsproduct issues

Update of product features Usage of features

Defect reported Product returns Usability issues

… and product design improvements can be done by listening to feedback from operations

Social Media/ Discussion Groups

Warranty/Customer Support

Device/ Software

Product development

Feedback, Product Ideas

Product Returnsproduct issues

Operations

Product Performance

Update of product features Usage of features

Production performance

Product deployment

Operation complexity

BMW uses big data and analytics technology to help detect and fix vulnerabilities in automobiles before new models are launched.

prototype test runs Workshop reports

Analytics Engine

New Models

Advantage :● Reduce expensive and time-

consuming repairs later on● Number of workshop Visits

Social media and Analytics can be used in 3 different ways

• Ideation

• Design Improvement

• Remote Support

Cost of Returns is high and most of the returns don’t have issues

● 8% of customer sales

● 5–6% of sales on managing returns

70% of these returns can be reported as “no trouble found,”

Cost of returns is

Whereas

Multichannel support need to be provided to the customer for resolving product issues

Social Media/ Discussion Groups

Device/ Software

Product development

Resolve issues

Software update

Self Support

Multichannel support need to be provided to the customer for resolving product issues and educate on product usage

Social Media/ Discussion Groups

Customer Support

Resolve issues

Mobile /Website

live support

GE uses predictive analytics to fix the problems before they occur

Analytics Engine

Huge Data frommachine parts

Change the Partsbefore they fail

Social media and analytics framework

Collect data

People and Platform to Analyze data

Product Development

Customer engagement

Collect data

Consolidate the data

Data collection tool

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Twitter - @aslamhirani

Skype - hiraniaslam

Website - www.innobryx.com

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