social media and analytics for product development.pptx
TRANSCRIPT
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
Linked in - in.linkedin.com/in/aslamhirani
Twitter - @aslamhirani
Skype - hiraniaslam
Website - www.innobryx.com
Thanks