Data insight comes
The Case Study
At it|venture, we are always focused on finding ways to create valuable insight for our clients.
And that often includes looking beyond the obvious. Here is one such example of something we did that (humbly) we think is rather neat.
One of our clients, a leading global business in the private equity markets who specialise in medium-sized businesses, was awash with data from their DealCloud platform. They used much of this data to good effect, but they had never really focused on using this data in combination with other sources of information.
What did we do?
We began by utilising all available data, including historic data stored as an audit trial. We combined interaction tracking from DealCloud with that historic fundraising data with the clear aim of understanding the frequency and types of interactions that can truly optimise the fundraising process. Nothing overly revolutionary about that of course. But here’s where it gets interesting.
The email heatmap
After thinking about how we could add more insight to their process. we had the idea to layer email data over the top, creating an email heatmap. This data highlighted which days of the week, and what times of the day, each individual from their investor list was more active in terms of responding to emails, benchmarked against an average response time data set. Response time was obtained by writing a C# script to understand which email chain a response belongs to. This enabled the extraction of the response time, providing further insight into the nature of client interactions.
The project outcome
We created clear guidelines and rules for when best to communicate with each of their investors in order to improve the likelihood of response. For example, the data revealed that one particularly prominent investor only ever responded to emails on a Friday afternoon. This insight now allows the team to add a significant level of planning to their week, considerably improving productivity along the way.
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