Data Value & Business Intelligence (BI)

Novicell adds value to your data

 

Novicell is a data partner with expertise in e-commerce and digital marketing

Being a data partner means that we are not only collecting and visualising your data, but we also analyse the information. Based on the results, we then act on identifying the potential for business development and automation and advise on how to optimise your business.

We take you on a digital maturity journey in three steps

The three steps are a methodological apparatus for the development of digital and data analytical competencies. We offer tailor-made Business Intelligence services that cover the greater strategic prioritisation, or hand-picked services from different parts of the three steps.

You choose how the collaboration comes together. Click on the individual steps to see our services and customer cases.

Step 1

Overview of data and performance

Gain insight into your digital channel and other parts of your business with data analysis.

In this step, we focus on collecting data and analysing the results and efforts of the digital channel.

This includes:

  1. What digital channels do you use? (e.g., websites, social media, online advertising, e-commerce)
  2. What do you get out of your digital channels?

The purpose of this step is to collect and consolidate your data into one system for a clear overview of performance across your digital business activities. First, we build a data lake with your essential business data collected from the digital channels. This gives you ownership and makes it possible to model data, so that it can be evaluated against other data and sources. 

Next, we put an automated reporting layer on top, so you can extract data and visualise it, allowing you to follow the development in relation to your digital KPIs and PIs.

Data visualisation, dashboards, and reporting

Data visualisation is the process of formatting data to make it more accessible to the reader. In the case of small amounts of data, a simple table can be nice to look at and read. However, large amounts of data are easier to analyse and understand as graphs. To get the most from data visualisation, we recommend using dashboards.

What is a data dashboard?

Put simply, a data dashboard is an information tool that provides accurate measurement of performance on the digital channel.

Dashboards can be used for a wide range of purposes, including as a management tool, to create an overview, for optimisation analyses, for displaying data on a screen, or for reporting to other parts of the organisation.

 

 

Marketing insights with business intelligence

How can we help you make sure you get the most out of the money you spend on getting more business? As the marketing disciplines have gone digital, there has been an even greater focus on tracking the return on activities throughout the sales funnel.

Of course, you can answer this with an overall number for the entire marketing department. However, if you break down data, many nuances emerge, providing a business insight that your competitors may not have realised yet. Breaking down marketing results and efforts means that you can measure performance at, for example, campaign level, channel level, over a given period, per country etc.

Read more about Novicell’s data tool Insights

E-commerce Analytics

If you work with e-commerce, where there is hard transactional data in connection with a digital purchase, we can link it with channels, campaigns and click prices, which, for example, can provide answers to some of the following questions:

  • What is the return on investment of our advertising channels? In other words, what does a customer from a given channel cost?
  • How much traffic comes to the website?
  • How much of the traffic we create converts?
  • How much does each channel generate?
  • How is the development in the channel's performance over time?
  • Which marketing channels perform best?
  • Is there a difference in channel performance in different countries?

B2B lead generation and attribution

Within B2B marketing, we still often work with lead generation as the digital maturity is lower and the complexity of products and services is higher than within B2C. This means that there is no transactional data for sale, so we work with other types of conversion.

We look at how many people read content on the website, who downloads marketing material, who attends events, signs up for newsletters, interacts with our social media accounts, or meets us at trade fairs and says ‘yes, please’ to receiving different types of materials or for a meeting.

  • Which marketing activities generate the most leads, meetings or sales?
  • What do I pay for a lead from different channels?
  • How many leads do I discard as bad or unqualified from each channel?
  • What is the quality of leads in different channels?
  • Is there a difference in the performance of different marketing activities in different channels?
  • Which pages and elements of my website have a positive impact on whether customers convert?

 

 

Data visualisation tools for the digital channel

We recommend different tools for different purposes, and if you are already running on a system, you can continue running on it. If you want a setup that is simple but can scale to the entire company, we typically recommend Microsoft Power BI. It is cheap to get up and running and has a good interface and strong features both for those who set up and integrate, and for users who need to read data at the front end.

We also recommend other tools that can be used in similar scenarios. Feel free to contact us if you want a specific recommendation.

Read about our Data Insights solution

Tailor-made data courses for your business

Novicell delivers tailor-made courses according to your wishes within data tools, data processing and data warehousing.

Contact Jens Grønkjær for a non-binding offer at jhg@novicell.dk.

Step 2

Data-based performance optimisation

Discover the possibilities of taking action on data and take your digital performance to new heights through Business Intelligence.

In step 2, we start working together on identifying and testing optimisation hypotheses. With the performance overview from step 1, we can follow what effect a change in efforts or new activities has on your PIs and KPIs. The hypotheses are selected to gain insight into your business and your target group, but they should be followed up with an action plan that uses these insights to achieve the best business potential.​

 

1. Define goals and KPIs

2. Analyse current setup in Insights

3. Determine target group

4. Plan for digital initiatives/campaigns

5. Execute digital initiatives/campaigns

6. Test, evaluate and optimise

7. Report in Insights

Continuous optimisation of online marketing

Here, the purpose is to analyse and optimise the insights we can draw from a good data foundation. This is where we start to increase the digital maturity in the company with analysis tools and hypothesis setup which will result in concrete optimisation measures. But note that we are still working with data in a manual and outreach way, which should give up suggestions for solutions we can implement. We are not yet ready to automate the analysis or the solutions.

Improve performance in the digital channel

Let's take a simple example where we want to increase performance for an online marketing campaign. You can do this in many ways, but it will require some testing and analysis to find the best way to lift performance.

It can be something as simple as increasing traffic to a specific conversion, such as a product or something lead-generating. But it may also be that traffic is not the solution because the landing page does not work optimally. In this case, you need to optimise the landing page for conversion instead. Or you may find that all traffic from a given channel bounces and never converts because it is unqualified traffic from an ad that sets up a false premise or attracts a segment that is irrelevant to your business. It can all be pulled out by some simple data analysis from your digital channels.

  • How much can we smooth out seasonal fluctuations in demand with increased marketing pressure?
  • What is the value of newsletter recipients in our lead generation?
  • How long does it take from creating a lead to opening a customer relationship and closing a deal?
  • How quickly can a good lead be created if an unexpected capacity arises in production?
  • How many leads must marketing create for the sales pipeline to fill up?

A Digital Performance Team is your team of specialists

With Novicell’s Digital Performance Team, you get your own personal advisor, who gets to know your business and draws on a team of specialists. This means that we are independent channels and always make sure to allocate your budget to where your company achieves the greatest possible return.

Novicell's Digital Performance Team helps remove performance barriers, ensuring best practice performance across all digital disciplines.

Read more about Digital Performance Team.

Step 3

Automated data activation

Take business to the next level with advanced Business Intelligence data applications.

In step 3, we expand your insights and actions to other areas of the business as well as across your customer journeys. This step makes it possible to create actual data-driven business. Use cases in this step are more demanding, but also have a much greater effect.

Because we now take a broader perspective on the business, they may need to integrate other data sources, including your core business systems and external sources. The analysis tools are also more complex and involve machine learning and AI, as well as automated execution applications.

 

Customer data platform partners

There are a number of platforms on the market that we have good experiences and partnerships with. They come with a lot of options for integrating into source systems with standard integrations or good APIs that we can integrate into.

We usually recommend Segment, Tealium or Raptor, but there is also the option to build a custom platform if your requirements for a solution are very simple, meaning a standard platform is too much, or if your needs are too complex for the standard software. It will require a more concrete balancing of your needs, but we can help you with that.

Churn analysis with a customer data platform

One of the scenarios we would like to highlight as a win with a customer data platform is the ability to develop churn analyses or churn predictions. That is, being able to predict whether a customer is about to leave your business.

It can be with an RFM analysis that examines and segments your customer database based on three parameters of interaction with your business. The three parameters are novelty (Recency), frequency (Frequency) and revenue (Monetary), and they distribute the customers based on different groups within each parameter and then cross the customers in accordance with a matrix.

The best customers are, of course, the customers who have bought recently, who buy often and who buy big. The weakest are those who have not bought for a long time, who do it rarely and who buy in small amounts. The strength of the model is that it can be automated and warn you that a customer is moving around the matrix in a way that requires a new treatment.

It may be that the customer is about to churn and needs to be revitalised, or that the customer is going further into your business and needs to be treated as a VIP or key account. The model can be tuned manually or optimised with machine learning or AI models that can improve the time interval for predictions, so you have a better chance of seizing the development and influencing the desired direction before a customer churns.

Marketing automation on top of a customer data platform

Marketing automation is one of the obvious tools to place as an execution engine on a customer data platform. It can accept different segments, which are defined in the customer data platform and processed in a predefined way.

It’s the email sent to all those who have clicked on a buy button on the website, but never completed the order in the basket flow, that encourages completion of their order or shows similar products or services. It’s also the email that reactivates an awkward relationship with a customer who has reduced the frequency of their purchases.

The more you can automate this type of interaction, the more customers you will capture at crucial moments in the customer journey. Automatic data activation can determine whether they became a customer or not, or whether they disappeared from your business after years of loyalty without you noticing before their revenue was missing from the accounts.

Read more about marketing automation.

Integrations and middleware

We offer a wide range of integrations between systems, completely tailored to your needs. We can also provide middleware, which can manage data between systems. It can be between ERP and Marketing Automation, CRM and Marketing Automation or between a number of other systems.

Contact jhg@novicell.dk to hear more about our integration and middleware services.

 

If you want to hear more about how we work with data and the digital channel, please contact me.