Unleashing Competitive Advantage Through Internal Innovation

Whats Your Competitive Advantage? Cy Wegman, Founder & President of SY64, LLC Abstract Abstract ABSTRACT Competition drives innovation in the market place. Without competition businesses atrophy and become complacent. It is normal to think of competition between companies, but what about the competition of ideas internal to a company? Many of us have struggled over our careers to bring analytical tools to the forefront of our business practices but perhaps we could do much better if we approached this with a competitive mindset. Do we know and understand who our customer is? Can we clearly and succinctly express the benefits of our product? Do we even know what our product is? Do we know who or what our competition is? Have we addressed product renewal to sustain our product in the marketplace of ideas and approaches? The goal of this paper is to provoke ideas and approaches to mainstreaming analytics in your business and make it thrive. We will investigate different ideas that may help you be successful, avoid frustration, and enjoy your work. Consumer Need Consumer Need Your Product Your Product Marketing Marketing Delivery Delivery Summary Summary Template provided by ePosterBoards

Whats Your Competitive Advantage? Cy Wegman, Founder & President of SY64, LLC Abstract Abstract Customer Need Culture, Habits, Practices Recognize every organization and situation is unique Identify the Purchaser Identify other stake holders Identify the customer(s) Identify decision processes & decision Makers Identify where analytics / modeling / prediction can help the most with the least amount of effort (80/20 rule) Identify who would gain & who would lose if these were changed Identify who can help or hinder change Recognize competitive ideas & improvement efforts Quantify the benefits, effort and the risks of change Customer Need Customer Need Your Product Your Product Marketing Marketing Delivery Delivery Summary Summary Template provided by ePosterBoards

Whats Your Competitive Advantage? Cy Wegman, Founder & President of SY64, LLC Abstract Abstract Your Product Describe Your Product Explain your product function Explain your product form Define the scope for this effort Formulate your product cost in dollars & effort Evaluate startup timing Compare to current method and competitive improvement ideas Identify synergistic concepts & allies Identify the processes or roles you may obsolete Explain the benefit for the company Allay the fear of those affected Customer Need Customer Need Your Product Your Product Marketing Marketing Delivery Delivery Summary Summary Template provided by ePosterBoards

Whats Your Competitive Advantage? Cy Wegman, Founder & President of SY64, LLC Abstract Abstract Marketing Develop and leverage relationships Display a confident, positive and helpful attitude Build a positive reputation Acknowledge past achievements & those who helped Conclude how your product is superior to all other options Compose the message Summarize into an elevator speech (30 seconds) Prepare a five minute presentation Construct detailed presentations &demonstrations as necessary Evaluate message content for different purchasers and stake holders Make promises you can deliver Remember, what is obvious to you is not obvious to everyone Customer Need Customer Need Your Product Your Product Marketing Marketing Delivery Delivery Summary Summary Template provided by ePosterBoards

Whats Your Competitive Advantage? Cy Wegman, Founder & President of SY64, LLC Abstract Abstract Delivery Meet Your Commitments Build up to your reputation through achievement Advertise your successes Look for ways to exceed expectations Acknowledge shortfalls and make corrections Recognize speed vs. quality tradeoffs Be adaptive to dynamic situations Persevere, nothing ever goes according to plan Look for ways to make others successful with your effort Identify ways to institutionalize your product Look for new opportunities to expand your market Customer Need Customer Need Your Product Your Product Marketing Marketing Delivery Delivery Summary Summary Template provided by ePosterBoards

Whats Your Competitive Advantage? Cy Wegman, Founder & President of SY64, LLC Abstract Abstract Summary Treat your skills and technology as a business Recognize there is a healthy competition of ideas Recognize you will not be successful in winning the business all the time Relationships are important Always look to improve yourself and your product The quality and the cost of your product are important Very few things sell themselves, market yourself and your product Remember to look for enjoyment in your work. Customer Need Customer Need Your Product Your Product Marketing Marketing Delivery Delivery Summary Summary Template provided by ePosterBoards