How Easyjet used big data to achieve many millions of revenue improvements. – StrataConf
Start with the problem, not with the Data says Andreas Weigend on one of the many banners at this years this year’s Strata data conference in London. It is one of the recurring themes of the conference and something we at Bluemetrix have been shouting for years.
We have assembled our key takeaways from the event below covering everything from technology stacks to organisation change management but if you want the full slides head over to https://strataconf.com/slides to get them from each speaker.
Data science is not always the first step
Allison Nau from Coxautodata.com illustrated the journey from problem to insight clearly during her presentation with this diagram of the journey.
In fact Allison Nau ignores Data Science in the beginning. “Data Science is not always the first step”.
Hollie Lubbock from Fjord presented the intersection of data where you can find insight. It comes in the overlap when you answer the questions Who, what, where, when, why and how. The intersection of data is between Thick data design research, Big data and data science, and wide data trends and strategy.
But this is not easy to achieve as highlighted by Kim Nilsson in this great diagram illustrating the challenges for a data science team combining so many different sources.
This is why it was great to see some real life case studies presented on the day.
Carme Artigas of synergicpartners.com presented a case study on using data to increase the retail business value for Pepsi Co. Using Big Data they were able to locate the Points of Sale with the highest potential and to segment those PoS according to their shopper behaviour. There were 3 algorithms they used to locate the PoS with the highest potential:
Linear regression
Logistic regression
Clustering mode
“Data is the fuel, the gold, of this era” – Eva Kaili
Image c: ClearPeaks @CLEARPEAKS
EasyJets Data team shared a great slide on their journey from Excel sheets to Big Data and advanced analytics.
They use this data now for revenue management.
This consists of the following processes: