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  • admin 9:51 am on December 19, 2015 Permalink
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    Winners Named in Teradata University Network International Big Data Talent Competitions 

    Teams from Australia, Thailand and the US prove their analytics prowess
    Teradata News Releases

     
  • admin 9:51 am on December 19, 2015 Permalink
    Tags: , , , , , , Fueling, , , , ,   

    Volvo Cars: Fueling Innovation with Data, Analytics and the Internet of Things so that Every Volvo is “Designed Around You” 

    The use of data has exploded in this century – we’ve all heard the seemingly outrageous statistics on the exponential growth of data. And they’re true! No where is this explosion of data more evident than the automobile industry.  Mechanical engineers, design engineers, data scientists, business analysts… you name it, they are using data in every area of the automobile industry. Data and analytics have permeated every aspect and companies like Volvo Cars in taking innovation to a whole new level.

    Throughout its history, Volvo Cars set the safety standard by which today’s automobiles are judged; so in 2011 Volvo Cars set out to add more luxury and services with a new corporate strategy called, “Designed Around You.” Data and analytics are one of the most critical tool sets in that new strategy.  The Customer Engagement team had the privilege of sitting down with Volvo Cars’ Jan Wassén whose enthusiasm for the power of data analytics is truly infectious – we’re ready to make our next car purchase a Volvo!

    Jan Wassén Dir. of Business Analytics

    Jan Wassén
    Dir. of Business Analytics

    “The mission is to be the most desired premium car brand, and the vision to make life less complicated for people but also utilize and build on our strength, when it comes to our core qualities – safety, quality and environmental care.”  – Jan Wassén, Director of Business Analytics

    Fulfilling this mission with data and analytics is giving Volvo drivers tons of cool features with Volvo’s Connected Car. 80-90% of all Volvo Cars are connected (think internet of things) with customer permission and that gives Volvo data-driven information and drivers data-driven services.

    Data-Driven Information

    Originally Volvo Cars took 15 years of usage and diagnostic data – combining those two huge data sources was a game changer for Volvo design, diagnostics and warranty parts of the business.

    “We have taken it step-by-step. We try to not just learn what has happened, but why it’s happened and also to predict what will happen. It’s like steps in analytics we would like to follow to be more precise and actually to deliver value to the corporation. In order to do that, we needed to bring in different types of data. We started with warranty data, but also customer data comes pretty soon and there are also other types of financial data, etc., that we were trying to introduce into the warehouse for us to be able to deliver more value.” – Jan Wassén, Director of Business Analytics

    Fast forward to today, Volvo Cars is launching a system where they can predict failure rates down to a component level in order to take predictive action in order to save the customer time and money.

    “On the engineering side, we could drill down to one component.  We’re saving already in just launching this. We had an issue with a fault code that was wrongly set. Cars came into the dealerships and got new software that they didn’t need to have and that one was several million dollars of savings.”-  Jan Wassén, Director of Business Analytics

    Screen Shot 2015-12-18 at 2.32.11 PMJust that one example helped loyalty for customers while still saving Volvo Cars service time for the dealers and as Jan said, ‘several million dollars of savings.’

    Volvo Cars is also learning what features to put in future vehicle design from their current customers (with permission of course) and teach those current customers about features in their cars.

    “We can learn from how the customers are driving their cars; at what speed it’s being driven, which types of behavior that the customers have  and learn it for developing future models. We can learn whether they’re utilizing the center screen for getting at their different entertainment functions or if they use the turn button of the steering wheel or the voice control. We can also utilize the particular data for this particular customer to tell them, ‘You actually have a function in your vehicle. It doesn’t seem like you’re utilizing this and it works like this,’ and we could provide them with a video showing that ‘This is something you should know.’” – Jan Wassén, Director of Business Analytics

    So many cool services and features powered by data and analytics!  Thank you to Volvo Cars for sharing and congratulations on your success!

     

    The post Volvo Cars: Fueling Innovation with Data, Analytics and the Internet of Things so that Every Volvo is “Designed Around You” appeared first on Insights and Outcomes.

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  • admin 9:47 am on December 19, 2015 Permalink
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    Are Hackers Reading Your Heart Rate? 

    Teradata Press Mentions

     
  • admin 9:52 am on December 18, 2015 Permalink
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    Teradata Offers Unmatched High Performance Database and Diverse Ecosystem of Alliance Partner Solutions 

    Large, diverse ecosystem of alliance partners makes it faster and easier to deploy and get value from Teradata technology
    Teradata News Releases

     
  • admin 9:52 am on December 18, 2015 Permalink
    Tags: , Polls, seen, Star, Swift, Taylor, , , ,   

    We’ve All Seen Polls For Star Wars And Taylor Swift, But What Can They Add In A Big Data World? 

    Earlier this year, when pollsters predicted a hung parliament (no clear party taking the majority) in the British national elections, pretty much everyone, politicians and public alike, thought the result was all but certain.

    Well, the big news story on the day the results were revealed was not about who won, but about how the pollsters could have gotten it so wrong, leading to an uncomfortable few weeks of (very public) head-scratching and navel- gazing for market research firms.

    That’s not all. These days, the rise in survey software providers have fueled polls on everything you could think of, from the best Star Wars film, to whether you would support Taylor Swift or one of her adversaries. It’s no wonder that businesses are questioning whether market research still has a role to play in a big data world.

    tswift
    Some time back, I was asked to develop analytic models to predict upsell opportunities for corporate telecommunication customers. As the only meaningful transactional data was in the form of quarterly revenue for each customer (spanning over 50 products for three years), I thought the customer services poll results would provide an additional, rich source of information. The survey was extensive, longitudinal and conducted at multiple levels of each customer organization. Pure gold, or so I thought!

    Once we started the analytics, we found that there was very little correlation between customer satisfaction and spending. Customers who expressed strong dissatisfaction continued to increase their net spend with the company, and there were examples of customers who expressed satisfaction and then churned to other service providers.

    Unfortunately, I had to conclude that primary market research data could not be used in a meaningful manner. In the end, it was the use of revenue data that proved far more predictive of a customer’s likelihood to churn.

    So despite these known issues, why are surveys still the predominant means of data collection? Surveys for customer and employee satisfaction, net promoter score (NPS), brand equity modeling and even new product design are so ubiquitous, you’ve probably participated in a few yourself.

    Well, it could be that many executives are measured against metrics such as NPS, and surveys are an easy means of tracking these numbers for senior management reporting. But it is also down to the way that market researchers operate. They assume that every new issue needs a new set of data, and the only reliable way of obtaining this is through a targeted and timely polling of the appropriate population.

    That assumption is no longer valid in the world of big data. Every behavior is observed, digitized and stored over a long period of time. Point-of-sale data and call records capture granular transactional data around purchase patterns and utility usage. Social media outlets record a variety of human generated data including customer sentiments and feedback, audio, photos and videos. Ad consumption is captured through set-top boxes and cookies. Then, there is machine-generated data, such as weblogs and geolocation that adds even more richness.

    Increasingly sophisticated analytic tools and techniques are now available to make sense of these new data sources, and provide new perspectives on customer behavior.

    So what can market research offer in the big data world? The role that market research plays has to evolve. How?

    • Identify all the data that is already available to address the business issue that you’re trying to solve. This means working in collaboration with the database administrators to understand the data resources already available within the company.
    • Enrich these assets by linking them to other data. Market researchers are in the unique position of knowing what historical research data has been collected as well as other external data sources that may be of relevance. These data can provide a context or frame of reference to the internal data and make the inferences from them more valuable.
    • Use the right data processing tools to handle the large volumes of data. The availability of massively parallel data processing systems gives market research teams the opportunity to work with data scientists to bring in big data to answer questions that would have been previously achieved with a survey of a small target population.

    Use the right analytics methodology. Much of the machine generated data sources such as, weblogs and social media data have low information density and will require new analysis methodology to handle the uncertainty in them.

    This post first appeared on Forbes TeradataVoice on 03/12/2015.

    The post We’ve All Seen Polls For Star Wars And Taylor Swift, But What Can They Add In A Big Data World? appeared first on International Blog.

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  • admin 9:46 am on December 18, 2015 Permalink
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    Top 10 analytics tips from Data Marketing 2015 conference 

    Teradata Press Mentions

     
  • admin 9:53 am on December 17, 2015 Permalink
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    Solving the Cost Complexity and Compliance Risk Challenges of Managing Big Data with Teradata RainStor 


    Teradata Podcasts

     
  • admin 9:51 am on December 17, 2015 Permalink
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    5 Ways to Create and Nurture Customer Loyalty 

    by Jenne Barbour

    Customers move now at a speed that is faster than ever. That speed, coupled with the breadth of options available to them and the constant barrage of marketing messages they’re pelted with 24/7, chip away at the customer relationship—or keep it from ever getting started.

    Without properly engaging new customers or strengthening one-to-one connections with current ones, relationships may never take hold. Or if they do, they could vanish in the blink of an eye. Although it may seem like customer loyalty is eroding in the current environment, it is actually just evolving.

    Value is the Key

    More than ever, consumers are willing to create relationships with brands in exchange for tangible value. And that value can flow both ways. Rich insights are derived when customers share information, which in turn empowers brands to increase engagement and improve profitability.

    Delivering the right experience is the result of listening to the information customers provide and answering with the most relevant approach to meet their needs. This relevance—driven by individualized insights—elevates the loyalty programs of the past to the engagement of the future.

    These five tips will help you foster and maintain a strong relationship with your own customers:

    1. Keep Pace With Expectations

    As product and service options grow, consumer expectations increase. What they bought in the past may not be what they want in the future. If you do not evolve with your customers, you could soon become obsolete. Know what your customers want and need from you, then make sure what you’re delivering is on target. If you’re not giving them what they want, someone else will.

    1. Deliver Integrated Value

    It’s critical to recognize each customer individually and understand his or her relationship with your company, its products and its services. You also need to fully integrate the customer’s insights into the entirety of that person’s experience with your brand. This proves that you know him or her as an individual, and that you leverage this deep understanding to serve the person’s needs.

    1. Connect in the Mobile World

    Digital disruption isn’t just about the impact to the marketplace or how it affects the way you do business. It’s also about reaching your customers across their preferred devices. It’s commonplace for people to pull out a smartphone or tablet to find virtually anything. They can research and buy whatever they need with just a click. As consumers increasingly shift to mobile, they expect their experience to be consistent across all platforms and available everywhere they are. The individualized experience spans online and offline boundaries, often using mobile as the connection point between the two worlds.

    1. Focus on Customer Engagement

    Vast budgets can be wasted on disposable interactions that will never be seen. After all, savvy consumers have grown accustomed to ignoring the irrelevant, making some ads invisible to them. In our increasingly connected world, personalized loyalty provides the opportunity to interact with and engage the individual—as long as the interactions honor the relationship and add value to the customer.

    1. Be Transparent

    Your customers will have concerns about what you’re doing with their information. They may understand that sharing data leads to a better overall experience with your brand and more relevant offers, but they may also be cautious. It’s important to respect their concerns and nurture their trust. You can do that by being open about how their data is being used and giving them opt-out alternatives.

    Two-Way Communications

    By centralizing your customer view to include traditional behavioral data, you’ll crystallize your understanding of who your best customers are along with what they need and want from your brand. Using data-driven solutions, you can shift from merely approaching audiences to creating value exchanges on a one-to-one basis. That experience will touch every point of interaction with your customers: online and offline, wherever they are and whenever they’re ready to interact.

    A two-way exchange with customers establishes longer lasting relationships, fuels engagement and allows you to increase your wallet share. Plus you get the opportunity to find out what they are thinking—and what they think about you.

    Jenne Barbour leads marketing strategy for Teradata Marketing Applications. She works to transform an individual’s customer experience into a beneficial bond with the brand.

    This article originally appeared in the Q4 2015 issue of Teradata Magazine. For more tips on strengthening customer loyalty in today’s constantly changing marketplace, visit TeradataMagazine.com.

     

     

    The post 5 Ways to Create and Nurture Customer Loyalty appeared first on Magazine Blog.

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  • admin 9:48 am on December 17, 2015 Permalink
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    Teradata Interactive Helps TP Toys Achieve 7x ROI UK 


    Teradata Case Studies

     
  • admin 9:46 am on December 17, 2015 Permalink
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    The Evolution of Marketing Analytics 


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