Situation
In the digital age, publishers are facing numerous challenges, some of which are fundamentally changing the nature of the publishing industry. In addition to the traditional competitive pressures, publishers are now also contending with new book formats and an ever increasing number of other types of media competing for consumer attention. The industry is also experiencing a move from traditional B2B to more B2C relationships, with readers interacting with our client across many varied touch points, including social media. In addition to these external challenges, publishers also face an internal data challenge. Whilst publishers now have greater access to large volumes of reader and market data than ever before, these data are still disparate and not harnessed in a systematic way.
What We Did
Beyond Analysis worked closely with this leading publisher for eight weeks to develop a data and insight strategy that would address the challenges of the changing environment and data sources available. The available pockets of data were discovered and used to demonstrate the art of the possible - including a reader segmentation based on the e-book sales. Existing knowledge silos, caused by division and imprint-driven operations, were identified and processes developed to help dispel them. Our interdisciplinary project team of consultants, an analyst and a data solutions architect was able to offer strategic guidance, identify opportunities with the existing data asset and review technological capabilities in the current setup.
Outcome
The client was provided with a full data and insight strategy, including a detailed roadmap, a clear and practical project plan for the first 18 months. All recommendations were supported by a return on investment model, based on robust financial calculations, that highlights the required resources and provides a balanced view of the investment options as well as their potential returns.
Beyond Analysis interpreted the brief well and quickly adapted to the specific environment that our business presents. They were collaborative, flexible and friendly in their approach. The broad range of skill sets offered by the company meant that they could investigate every opportunity as it presented itself.
Following a successful two month project, Beyond Analysis has kick started some exciting developments at Penguin in the areas of data analytics and insight.
Finance Director