What do President Obama’s two successful presidential elections in 2008 and 2012 (http://swampland.time.com/2012/11/07/inside-the-secret-world-of-quants-and-data-crunchers-who-helped-obama-win/ ), and Narendra Modi’s emphatic win in India’s 2014 general election (http://www.venturesity.com/blog/the-big-secret-behind-narendra-modis-win) have in common? In all three cases, the use of analytics techniques boosted the candidate’s election performance. And, all three resounding wins have four data-related activities in common: collection, integration, analysis and modeling to extract actionable insights.
In each case, the analytics teams that worked on each campaign were experts in the art and science of analytics. The teams’ collective expertise, although fundamentally technical, included a deep understanding of human psychology and the dynamics of respective electoral processes. All this brainpower notwithstanding; to succeed in their quest to use data to help their candidates, these teams were faced with three challenges:
- Understanding the electorate – almost at an individual level
- Increasing voter turnout, and
- Reaching and converting disenchanted voters
Similar to the manner in which West Monroe Partners would have begun, these analytics teams began to tackle these challenges by first focusing on the types and sources of data. Data was obtained from as many sources as possible (demographics, social media, surveys, individual polling, psychographics, etc.). And although a large swath of this data could be obtained from data vendors, a lot was also the result of personal polling, door-to-door canvassing and keeping tabs on Twitter and Facebook traffic. Since data was in multiple types, formats, and sizes, data integration now became vitally important to prepare the data for analysis and modeling. This last helped extract value from the whole process: interpretations of model outputs yielded insights that powered downstream decisions.
If micro-marketing via advanced analytics can help re-elect a president and a prime minister in two of the world’s most raucous democracies, think what it can do for your business. Among many other things, it can help you reduce customer churn, increase marketing and sales efficiencies, or increase customer advocacy.
Interested in seeing what advanced analytics can do for your business? Contact me to discuss! I have extensive experience in data integration, converting that data to actionable insights, and operationalizing those insights to drive business results. To learn more about our unique approach to data science and analytics, visit our website.