Updates from November, 2014 Toggle Comment Threads | Keyboard Shortcuts

  • admin 9:47 am on November 25, 2014 Permalink
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    Inside Overstocks Transition to Data Driven Marketing 


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  • admin 9:51 am on November 24, 2014 Permalink
    Tags: Billions, Stake   

    Billions at Stake 

    You get a sick feeling in the pit of your stomach whenever you realize you sold something for less than it was worth, whether it’s real estate, a used car or items at a garage sale. Businesses also sometimes leave money—as much as $ 766 billion—on the table by not using data and analytics to their full potential.

    The new, Q4 issue of Teradata Magazine discusses how organizations of all kinds can take advantage of a data-driven business strategy to spark innovation and put more money in their own pockets instead of leaving it on the table for competitors to find.

    Brett Martin
    Editor in Chief
    Teradata Magazine

     

     

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  • admin 9:50 am on November 24, 2014 Permalink
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    The 5 Imperatives for Data Driven Marketing 


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  • admin 9:52 am on November 23, 2014 Permalink
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    Creating a Unified Data Zoo 

    Scott Gnau, President, Teradata Labs recently presented at the 2014 Teradata Summit in Sydney and Melbourne, where he provided insights to attendees on the technology trends in the Big Data arena. He stated that finding insights from all the data is what Teradata is all about. To explain analytics and big data he used the analogy of a conical pendulum which takes the chaos of the opposing forces of gravity and centripetal force to calculate time in the most accurate fashion. Analytics also takes seemingly invaluable and unusable data and generates valuable findings not possible without that data junk.

    Scott Gnau, President, Teradata Labs

    Scott Gnau, President, Teradata Labs

    He also talked about the recent growth of data volume using a simple transaction of the sale of a box of nails – a traditional in-store transaction might generate 100 bytes of data whereas that transaction executed online might generate kilobytes or megabytes of data these days. There is slightly more value in the kilobytes or megabytes but on proportionally more – the economics of data is changing.

    To get the next 10% or 20% of competitive advantage requires the storage, management and analysing of vastly higher volumes of data.

    Scott then drew our attention to the fact that Analytics Solutions are not going to be a one-size-fits-all equation any more. The best Analytics practitioners are now those who can combine many data management and analytic tools and platforms to perform the processing and analytic distribution required. Through a video animation Scott showed how the analytics technology landscape can seem like a zoo – a data zoo – and it’s not just a matter of smashing a whole lot of tools together. There needs to be some method in all this madness.

    Delegates at Teradata Summit 2014

    Delegates at Teradata Summit 2014

    Scott likened the method to that of an archer – Ready, Aim, Fire:

    Ready

    Do all the preparation ahead of the event so that nothing is left to chance when you are ready to compete. In the analytics world Scott pointed out that it’s important to have a data fabric and frameworks to link all the tools and platforms together. Teradata’s Unified Data Architecture provides such a data fabric in which data can be stored on the most analytic platform possible.

    Aim

    Gain an understanding of the conditions you are competing in and have a clear, focused sense of your target or goals. Then make a judgement call on what the best path to that target is. In analytics the “orchestration” of tools and platforms is key. It is critical that data can be passed seamlessly through a “workflow” of data management and analytic steps to achieve the insights being sought. The data storage, platforms and analytic engines that these workflows pass through should be chosen through software and require minimal physical data movement. The orchestration should also allow you to easily change your mind about the steps and the technologies. Scott referenced Teradata’s investment in technologies such as Query Grid, MongoDB and Loom as well as support for both Hortonworks and Cloudera Hadoop as proof that Teradata is embracing an open-analytics philosophy.

    Scott said that this ability to form these workflows will be the difference between moderate success and stellar success in Analytics practice and solutions into the future.

    1. Aim – Understand about the process, conditions and make a judgement call.
    2. Fire – Take action in your business.

    Fire

    Make sure you can make use of your analytic findings. You’ve done all the maths but how do you gain value from all that data crunching? How do you deploy your findings into the operations of the organsation? How do you continually refine and validate the analytics over time?

    Scott pointed out that it’s very important to maintain high performance, high-concurrency technologies and platforms which can deliver to active workloads at scale. Platforms which can execute the analytics at high frequency with a low data latency are critical in realizing the value of all the Ready/Aim investment. Teradata have been the leaders in Active Analytics for many years and provide technologies that can be trusted to withstand the challenges of day-to-day operations and still deliver the necessary performance.

    Q&A

    Cloud Analytics was the flavour of question-time. Scott responded by re-iterating that Teradata has vast experience in providing private cloud solutions to its customers and that for the last 12 months Teradata has been offering hosted (public) cloud solutions to the market from infrastructure located in the USA and available globally. This public cloud offering will soon be extended to locations outside the USA. This means that Teradata technology can be accessed through many different deployment and commercial models providing customers with the flexibility that is required to piece together their own data zoo.

    Greg Taranto is a Senior Pre-Sales Consultant at Teradata ANZ. Greg specialises in designing and tailoring Data Warehouse solutions for organisations across many industries. Greg’s extensive background in Data Warehouse Architecture, Design and Implementation along with his business solutions experience allow him to bring many worlds together to achieve optimal results for Teradata’s customers and prospective customers. You can also connect with Greg on Linkedin

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  • admin 9:47 am on November 23, 2014 Permalink
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    Whitepaper UK Approaching Responsive Email Design 


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  • admin 9:47 am on November 23, 2014 Permalink
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    Six Tenets of a Successful Customer Engagement Strategy 


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  • admin 9:55 am on November 22, 2014 Permalink
    Tags: , integrate, Ownership, , , Turf,   

    Integrate Data, Processes & People: End Data Ownership Turf Wars 

    The biggest thing I’ve realized over the past couple of months, other than Tony Romo is one of the best NFL players I’ve ever seen — is the fact that data ownership is still a huge problem for companies of all types. Tony’s numbers keep getting more impressive game by game – and likewise the pace of data streaming into organizational information channels rises by the hour.

    Romo aside, the dramatic growth of data volume only seems to rekindle data ownership issues among so many internal departments, who don’t or won’t see the advantages of sharing information. Maybe call it data ‘possessiveness.’ I really thought, and I have said in numerous presentations over the summer, that we’d solved the data ownership problem. To begin with, the industry seems to have understood the value of data integration and optimization, and a ‘single view of the customer,’ once just a hazy vision in the distance, was now becoming a technological reality, so isn’t ‘data sharing’ a no-brainer?

    But after presentations at a few conferences this fall, including Teradata Partners, folks have come to say things like, “Everyone in all of our marketing areas wants data from the Customer Insights group — but they won’t play nice and share it.” Others have made similar complaints at reception chats or over lunch. These little ‘data dramas’ and ‘turf tussles’ surprise me.

    What also continues to surprise me is the lack of marketing participation at many IT gatherings. When I lead a session on how to use big data in marketing, the audience is usually 90% data scientists or IT specialists and 10% marketing. Sunday, in my well-attended session at the Partners event, it was zero marketers. What’s up with that? Where are those savvy ‘data-driven’ marketers?

    On to Monday, where we held a lunch for 30 retailers and CPG firms. Other than the one analyst from IDC, the rest were from companies like Safeway, Target, HEB, Williams & Sonoma, Hallmark, etc. While some work in marketing, none viewed themselves as ‘marketers’ – they were data scientists or IT specialists. Great people, truly interested in Dynamic Customer Strategy, and like Sunday’s session, it went very well. But again, no CMOs, no marketing directors, no merchandisers. Baffling!

    Trend-watchers report that marketing is supposed to be the biggest spender on IT by 2017, outpacing the IT department. Somehow, the CMO is supposed to become the most proficient IT buyer on the planet. So when does the foundational due diligence take place?

    Reading a few white papers or looking at where a particular solution is — in some magic matrix — is not sufficient. Someone thinks, “Oh, we can make money with marketing automation tools here. Let’s get one and get some data and go to work.” And then they demand the data from the data group, or from some other group so they can get their work done without thinking about the greater good. Sharing data always results in the greater good, right?

    Data possessiveness has become the modern tragedy of the commons, a phrase coined to describe the overgrazing that would occur when everyone shared a common pasture (like the Boston commons).

    In this modern-day tragedy, there are two outcomes. First comes technology bloat, and with technology bloat comes lots of little not-playing-well-with-others data sets and an insufficient data strategy. Maybe they can import the data in — but not out.

    In case you are unfamiliar with the term, technology bloat was coined by my former student and now consultant Ben Becker (beckerstrategies.com) to describe the common situation of multiple overlapping software solutions. In environments where data silos and turf battles over applications exist, technology bloat is a huge challenge for IT: Multiple systems to support when one would do, budget-crushing agreements when rationalization would be less expensive, and so on and so on.

    That’s why I found it interesting that Michael Koehler, Teradata’s CEO, emphasized integration as the key watchword for 2015. Integration clearly is a play that works well for Teradata, especially with its full suite of solutions. But when marketing is spending more than IT on IT and doesn’t know how, there’s a tall challenge.

    Another causal factor of technology bloat is ‘how’ marketing budgets and spends funds for IT. The budget to acquire may not even be an IT budget but come out of monies allocated to a particular program or profit center. The campaigns budget, for example, might be used to buy a campaign management tool. As long as revenue targets are hit, all is well from a budgetary perspective, at least as far as marketing management is concerned. Of course, no matter that it’s the third campaign management tool that the organization purchased.

    Similarly, there’s the revenue ownership problem. In spite of attribution modeling that can weight the effectiveness of each element in the marketing mix and apportion revenue accordingly, each profit center is unwilling to share revenue or customers. The result is customers who delete and ignore every marketing message from their former partners who now over-market because they won’t/can’t share data. In my department alone, I know of at least three different CRM systems.

    Moreover, marketers just want to do marketing, and especially the cool marketing. I get that. It’s fun to see marketing strategy actually lead to revenue, whether you’re in B2C and actual sales are immediately triggered or B2B and the work is mostly above the funnel.

    I suspect, though, that the problem is greater in B2B. When we did the study in retailing earlier this year, we were far less likely to identify data ownership as a bottleneck. Retailers are more mature than B2B in the whole data thing anyway, but there are also fewer marketing areas. B2B companies tend to be organized by product or vertical market and each operates as a separate business unit. Marketing departments or teams proliferate, and that leads to technology bloat etc.

    While the simple answer might be that IT should be making more decisions, I don’t see that as realistic. And if Koehler is correct that we’re in for a period of integration, then I suspect that will mean consolidation of tools and applications into suites. What’s interesting to me is that Teradata seems to be the lone voice, even among full-suite providers, crying out to end technology bloat.

    However, I agree that a period of integration is coming. When the CIO can demonstrate to the CMO how integration can improve revenue through better data and marketing strategies while reducing costs (and in that order), most CMOs will make that move.

    Data possessiveness will fade as the benefits of sharing integrated data become ubiquitous and irresistible. Data dramas will cease, and marketers will more enthusiastically participate in IT conferences.

    It’s called teamwork – something Tony Romo totally understands.

    best tanner blog bio 1-1

     

     

     

    Dr. Jeff R. Tanner is Professor of Marketing and the Executive Director of Baylor University’s Innovative Business Collaboratory. He regularly speaks at conferences such as CRM Evolution, Teradata Partners, Retail Technology, INFORMS, and others. Author or co-author of 15 books, including his newest, Analytics and Dynamic Customer Strategy, he is an active consultant to organizations such as Lawrence Livermore National Laboratory, Pearson-Prentice Hall, and Cabela’s.

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  • admin 9:54 am on November 22, 2014 Permalink
    Tags: , , Consolidating, , ,   

    Public CIO Special Report Connecting Consolidating Collaborating 


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  • admin 9:47 am on November 22, 2014 Permalink
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    Maximize Your Marketing Spend 


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  • admin 9:54 am on November 21, 2014 Permalink
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    Teradata and MapR Architecture Matters 


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