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  • admin 9:51 am on May 31, 2015 Permalink
    Tags: , Gray, Swans,   

    Turn Black Swans Gray 

    by Alex Entrekin

    Based on a quick read of the daily headlines, black swan events—scenarios that surprise businesses and leave them reeling—seem to be occurring at a startlingly frenetic pace. No doubt this trend is the result of our increasingly interconnected and globalized world. Even an event that takes place thousands and thousands of miles away can have a far-reaching impact.

    Given the major changes in how people communicate, we know about such occurrences almost immediately. In some cases, such as the Arab Spring in 2010, social media played a major role in both covering and driving an event that toppled governments.

    Clearly, whether they’re man-made or caused by natural disasters, unforeseen disruptions pose troubling threats and challenges that must be addressed. 

    Predict the Unexpected

    The frequency of black swans can make one question whether these are truly unpredictable events. Maybe some are really gray swans—situations that can have the same type of impact as black swans, but occur more frequently and can be predicted to a certain degree.

    With the continued advances in big data usage and next-generation analytics, organizations have gained an unprecedented opportunity to identify and plan for these improbable but high-impact events. As recently as a few years ago, some businesses struggled to gather, integrate and analyze the necessary data to make informed decisions.

    Today, data is everywhere, coming in multiple forms (structured, unstructured, multi-structured) and from an increasing number of sources. This abundance of data, coupled with advanced analytics, opens the door to explore data in ways that were not previously possible. For example, visualization and predictive analytics now enable the discovery of new patterns, new insights and new threats.

    Reduce the Risk

    Based on the definition of black swans alone, we clearly cannot predict or plan for all types of unexpected events. However, the latest generation of technology offers advanced analytics and faster discovery techniques to quickly and effectively cut through the noise to find signals and trends. And that’s a huge opportunity to better prepare for and manage the impact of these events—and maybe even turn some of those black swans gray. 

    This article originally appeared in the Q2 2015 issue of Teradata Magazine.

    Alex Entrekin is the vice president of Enterprise Risk & Assurance Services for Teradata.

     

    The post Turn Black Swans Gray appeared first on Magazine Blog.

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  • admin 9:51 am on May 30, 2015 Permalink
    Tags: , , Grocers, , ,   

    More Grocers Need to Leverage Big Data Analytics 

    Grocer loyalty program databases, rich with detailed customer data, have been in existence for decades, providing grocers with an apparent advantage (for those that have exploited this data) compared to other retailers. Grocers have had a head start on leveraging this data in better understanding consumer behavior and shopping preferences.

    However, with the advent of new technologies, new competitors, new channels and the emergence of an ‘always on’ and ‘time starved’ consumer base with a myriad of convenient shopping options – the grocery industry is now, surprisingly, lagging other retailers in the ability to leverage these new ‘big’ data sources to evolve their analytic capabilities from transactions to interactions. In particular, the emergence of new data types – big data – provides an opportunity for small to medium-size grocers to compete better with larger chains.

    Big Data is available to small and mid-sized grocers: it’s about leveraging all the data.

    At the end of the day, ‘big’ data is just data – but today there are more data sources than ever. Stepping back from the hype for a minute, what it really comes down to for grocers is leveraging all of their data through analytics that enable differentiation in a marketplace. And it is a crowded marketplace that continues to see growth in brick and mortar specialty food retailing and expansion of grocery sections in other retail formats. This includes a growing selection of food products at online retailers and virtual grocery store fronts providing a myriad of pick-up and delivery options, even intraday fulfillment capabilities.

    In terms of big data, grocers in general can improve at leveraging the data they already have; there are many more marketing and selling opportunities to be realized! For example, transaction data is still the cornerstone for grocers – and there is still untapped analytic potential. In a sense, it’s ‘big’ data from a volume perspective, and grocers of every size have effectively ‘run the business’ well beyond basic sales reporting using transaction details for basket and affinity analysis. Opportunities include leveraging advanced analytics for demand forecasting, promotional planning, basket segmentation, price elasticity modeling, assortment planning and so on – this still remains the lifeblood of operational improvement for grocers today.

    Also, customer data combined with transaction data enables grocers to better understand changing customer behavior, preferences and response (e.g. segmentation, propensity to buy, attrition) to more effectively target promotions, localize assortments and drive efficiencies into overall marketing spends and operational tactics. Most grocers have had ‘loyalty’ programs in place for decades, but even in absence of a loyalty program, others have been very creative in their quest to obtain customer data, such as Walmart’s Savings Catcher program.

    In terms of big data, the broader retailer industry is moving beyond the ‘brick and mortar’ environments and looking at integrating data – and marketing – across channels. We are seeing lots of activity – in IT investment and analytic discovery. This is where the trends in ‘big’ data tend to focus; it’s on mining new levels of data complexity and velocity (e.g. social, mobile, text, sensors). Yet there are great opportunities to explore in this space for grocers of all sizes, and there is no ‘right or wrong’ place to start.

    Some examples of opportunity:

    Are grocers dealing effectively with Big Data? Making it a true business advantage?

    Most grocers have been leveraging transaction and customer data for years, even though many have yet to fully exploit all that can be accomplished with just this data. For small to mid-sized grocers, many have turned to outsourced point solutions due to lack of available analytics resources and potential infrastructure investments needed. The problem with point solutions is just that – they individually solve for a specific business area and the analysis is cookie cutter. Therefore, the ‘data’ is not integrated and difficult if not impossible to provide a holistic picture of customer behavior across all touch points (for example), nor are the analyses providing a cross-functional view that is relevant to all business stakeholders in terms of driving differentiation in the marketplace in merchandising, marketing, supply chain and store operations.

    In terms of leveraging ‘new’ data sources such as social, mobile and text, the industry is very much engaged in a ‘discovery’ stage of analysis with a variety of focus areas, testing and learning how to extract value from these rich new sources of data. There are two typical paths grocers are taking regardless of the ‘size’ of the organization. First is Strategic Commitment, in which there is C-level (organizational) commitment to making the investment in the resources to bring all of this data in-house and analyze it.

    Now more than ever, data, analytics and IP are viewed as strategic assets and competitive differentiators. The other is Business Discovery, in which grocers outsource to an Analytics as a Service firm to leverage internal and external data. Conducting analytic sprints to build the business benefits can result in new use cases and help capture ‘quick wins’ before making the resource commitment to technology and human capital up front. Based upon success, and a smart, trusted partner willing to share the methodologies and analytic models, grocers can continue on with an outsourced services provider or migrate the data, analytics and IP in-house.

    Both of these approaches have been under way within the mid- to large- size grocers for several years, potentially putting those standing on the sidelines at a severe strategic disadvantage as the entire grocery industry is playing catch-up to the general merchandise retailers that have had to react much quicker to the threat of online retail – several of whom paid the ultimate price of obsolescence along the way.
    We are nonetheless busy working with grocers that are dealing effectively with Big Data.

    My colleagues and I – in the Retail Business Analytics Consulting practice – work very closely in providing advanced analytics / data science services with many of the leaders (of all sizes) across the grocery industry. There is certainly no shortage of success stories. Without sharing sensitive business details, we can tell you that many of our grocery clients, such as Walmart, Whole Foods, HEB and Publix in the US and METRO Group, Tesco and Sainsbury’s in Europe – all are actively involved in big data transformation.

    Yet as engaged as we are in serving grocery customers, the opportunities are enormous – and we are excited to be helping many grocers become more data-driven – as they will need to be to flourish in the future. – By Brent Buttolph

    Brent buttolph best bio pic

    Brent Buttolph, Principal Consultant, has worked with leading retail corporations to provide thought leadership and align strategic objectives with analytic capabilities to create a differentiated competitive advantage in the marketplace. Brent is responsible for setting the strategy and leading the business analytics team in the Retail, Hospitality, Travel and Transportation industries at Teradata.

     

    The post More Grocers Need to Leverage Big Data Analytics appeared first on Industry Experts.

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  • admin 9:50 am on May 30, 2015 Permalink
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    Financial Services Regulatory Data Imperative Part One 


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  • admin 9:46 am on May 30, 2015 Permalink
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    From Keeping the Lights on to Driving More Value from Your Analytical Environment 


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  • admin 9:59 am on May 29, 2015 Permalink
    Tags: Accurate, , , , ,   

    Finally! New Capabilities For More Accurate Targeting Of Facebook Ads 

    ThumbFinal_3.25.15-FINALWith over 1.4 billion (yes, “billion” with a “b”) monthly users, Facebook remains the leading digital platform worldwide.

    However, as every marketer who’s tried knows all too well, reaching those users with relevant, personalized interactions hasn’t been easy.

    Despite all the benefits that data-driven marketing has to offer, digital marketers have often lacked the ability to leverage deep customer knowledge and accurately connect with existing audience segments of known contacts with contextual ads. Simply put, there just hasn’t been a reliable way to use marketing insights to meet customers “wherever they are” online — or at least, no way that couples reach with precision.

    Well, now all that’s going to change because Teradata Marketing Applications just announced the global availability of a new digital marketing capability, one that enables marketers everywhere to deliver highly focused Facebook advertising as part of an integrated, omni-channel solution that incorporates digital advertising with email, mobile and web. With this new capability, available now in Teradata Digital Marketing Center, you’ll be able to connect with contacts across channels and reach your segments and groups on Facebook with Custom Audiences. That means you can use Teradata’s solution to:

    • Achieve greater omni-channel message consistency.
    • Optimize media spend.
    • Get more value from online and offline customer data.
    • Improve customer relationships by confidently delivering relevant, contextual messages.

    How does it work? By revamping how you connect with unique audience segments in real-time. That, in turn, can lead to improvements in performance and return on investment (ROI) for digital ads. More specifically, Teradata’s new offering will help you:

    • Exploit the depth of your historical and interaction-based prospect and customer data to more precisely reach specific audience segments that are part of your overall integrated marketing strategy.
    • Use ad performance on Facebook or other platforms to develop a full view of the prospect/customer experience across multiple channels and create more engaging marketing campaigns.
    • Manage your digital advertising as part of a comprehensive strategy that combines email, mobile, social and web, all through a single solution that connects directly to Facebook ads.
    • Deliver Facebook advertising to your target audiences that have been matched on Facebook with existing database contacts, enabling you to engage with those audiences on any device (desktop, mobile, tablets).
    • Improve relationships, customer loyalty, new client acquisition, conversions from website visitors, and lead generation by providing more timely and fitting brand engagement that increases advertising effectiveness for higher ROI.

    Facebook has been around since 2004. For just about as long, marketers have been eager to take advantage of the opportunities the platform offers. Teradata’s new capabilities, which are delivered as an add-on feature within Teradata Digital Marketing Center, can help you start using Facebook advertising more effectively. With this new offering, you’ll be able to leverage the insights contained in your customer data to achieve a whole new level of data-driven consumer brand engagement.

    The post Finally! New Capabilities For More Accurate Targeting Of Facebook Ads appeared first on Teradata Applications.

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  • admin 10:35 am on May 28, 2015 Permalink
    Tags: , , , , , , Impacting, , , ,   

    Webinar: How Dell Controls Expenses on Growing Data Volumes without Impacting the User Experience 

    Join Dell and Teradata as they discuss how organizations are using a combination of Hadoop and enterprise archiving software to create an economical online archive; reduce the overall storage footprint with market-leading data compression; and stay compliant by providing full access to all data, that is query-able, auditable, immutable and tamper-proof in this webinar.
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  • admin 9:51 am on May 28, 2015 Permalink
    Tags: Argentina, , TripleDigit   

    Triple-Digit ROI for ICBC Argentina 

    ICBC Argentina continues to be an innovative force in the marketplace. The Buenos Aires-based bank, which is one of the top 10 private banks in Argentina, earned an estimated ROI of nearly 400% after utilizing business and customer insights gained through analytics.

    When the bank’s portfolio forecasted a worsening of the economic cycle, ICBC Argentina anticipated that more staff would be needed in the collections call center. However, instead of hiring new agents and spending upwards of $ 23,000 per person, the bank analyzed its processes to look for opportunities to make current operations more effective and efficient. The bank’s new strategy, which uses a predictive data model, resulted in:

    • Increased collection efficiency
    • 43.5% reduction in outbound call volume
    • 59% decrease in written notices
    • 392% estimated ROI

    The bank now has more successful case management using the same resources but it didn’t stop there.

    To learn how ICBC Argentina capitalized on cross-sell opportunities, read the full article in the Q2 2015 issue of Teradata Magazine. 

    Carly Schramm
    Assistant Editor
    Teradata Magazine



    The post Triple-Digit ROI for ICBC Argentina appeared first on Magazine Blog.

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  • admin 9:48 am on May 28, 2015 Permalink
    Tags: , Flora, ,   

    Case Study UK Interactive Flora 


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  • admin 9:46 am on May 28, 2015 Permalink
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    Transform business challenges to revenue opportunities 


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  • admin 9:54 am on May 27, 2015 Permalink
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    New Gartner Critical Capabilities Report: Teradata Receives the Highest Product Scores in All Four Use Cases for D 

    Evaluation based on customer feedback and vendor capabilities
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