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  • admin 9:51 am on September 22, 2017 Permalink
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    The 9 steps every business analyst should take 

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  • admin 9:51 am on December 19, 2015 Permalink
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    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 9:57 am on April 10, 2015 Permalink
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    Every Customer Has a Story 

    customerstoryby Katrina Willis

    To create a competitive advantage for their companies, marketers are asking themselves a critical question: “What do we aspire to do tomorrow that we’re unable to accomplish today?” For many marketers, the answer can include:

    • Create more qualified leads
    • Reach a wider audience
    • Respond to our customers in real time
    • Segment and personalize our lists based on multi-channel customer activity
    • Know our customers better

    In answering another question, “What would we do if we knew more about our customers?” marketers can make every cross-channel interaction an important part of a long-term relationship. By gathering the right data and unveiling necessary insights—and by being where our customers want and need us to be—we, as marketers, can create multi-channel customer engagements that help forge meaningful relationships and bring value to the organization.

    Getting to Know You
    The formula for knowing your customer’s story is to collect and connect all of his or her cross-channel data, from social to mobile to email to the Web, to create a holistic view of that individual’s interests, activities and influencers. A customer’s online purchase history might indicate that he loves single malt scotch and big game hunting, but a social media profile might also reveal his affinity for teacup poodles.

    If you’re missing any one of these pieces of his profile, you’re missing opportunities to develop more meaningful interactions that speak to all of his unique interests. By adopting a customer-centric, multi-channel understanding of each person, you can respond more quickly and more appropriately to his or her needs as a unique, multi-faceted individual.

    In fact, with true data insights and analytics, you can even study the past to better predict your customer’s next move. When done effectively, this feels a bit like engineered serendipity—and it leaves customers happier, more satisfied and more willing to be your brand advocates.

    Understand and Exploit Deviations
    Of course, there are times when people won’t behave as you’d expect. The best stories always have a plot twist, after all. For example, a financial services customer might examine online mortgage rates on your site without ever opting to use your mortgage calculator even though you’ve determined that is the next likely step in the path to purchase.

    By connecting the dots of his complete multi-channel experience, this perceived misstep might just reveal something more important about your customer and what you can do to better serve him. Perhaps instead of a lower percentage interest rate, he is more focused on different loan terms. Rather than continuing to offer him a series of lower rates, a better scenario—based on all your data—might be to offer a more appealing loan payback time period instead.

    A deeper and more thorough understanding of deviations from the normal path to purchase is a critical component in serving each customer’s unique terms. Most current technologies can stitch together a classic “abandoned cart” strategy, but solutions that also allow an understanding of a more complex story through integrated, multi-channel analytics is critical to developing stronger, more loyal relationships.

    A Magical Customer Experience
    A seamless experience feels a little magical, but never invasive. When executed expertly, the perfect multi-channel interaction is:

    • Not difficult to find, but readily available
    • Not creepy, but useful and welcoming
    • Not annoying, but entertaining and informative

    Achieving this balance requires you to create an experience that plays a part in each person’s unique story. It’s an approach that keeps customers up-to-date, informed and in-the-know.

    By focusing on all delivery channels, you can better understand each individual’s story from beginning to end. What you learn about a customer through email is likely very different than what you’ll learn about her through social channels. Both are critical pieces of who she is and what she expects from you.

    The Multi-Channel Difference
    The most sophisticated and integrated technologies ensure your customers go from anonymous to known so you can deliver the right message at the right time through the right channel every time. That’s a seamless experience, and it’s what your customers want, expect and deserve.

    The ultimate goal, of course, is to delight the people who believe in your business, your message and your integrity. Happy customers help strengthen your brand awareness and drive revenue, and a healthy bottom line supported by loyal, satisfied customers is always a story worth telling.

    Read this article and more in the Q1 2015 issue of Teradata Magazine.

    Katrina Willis is a senior writer at Teradata. She has accumulated more than 20 years of experience developing marketing materials for high-tech industries.

     

    The post Every Customer Has a Story appeared first on Magazine Blog.

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  • admin 9:52 am on November 26, 2014 Permalink
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    Five Things Every Email Marketer Needs to Know About Dynamic Content 

    personalizationWhat if I told you that you could significantly increase email click-through rates and conversions – all largely by using information you already have on hand?  If that sounds like a dream come true, then you may want to take a look at what a dynamic email content strategy can do for you.

    Simply stated, dynamic email content is content that adapts based on real-time data. Personalization of email content has been around for a while, of course, but implementing dynamic email content is a way to ensure that your marketing messages are highly relevant and tied to compelling offers that are more likely to convert.

    For instance, where a personalized email might include the subscriber’s name in the subject line or content based on the subscriber’s broad preferences (such as when women receive emails about women’s clothing, and men receive information about men’s clothing), an email with dynamic content provides up-to-the-minute information to the recipient – information that’s drawn from multiple data sources to provide maximum value.

    Here are five things every marketer needs to know about this adaptive, data-driven digital marketing strategy – and the best ways to put it to work:

    1. A dynamic content strategy will work best if you build your database of content preferences up front. From the very first time your subscribers sign-up, give them the opportunity to tell you what they’re interested in and what they want to know more about. This guarantees a better relationship with your brand right off the bat and eliminates guesswork when it comes time to develop targeted content.

    To stay current with wants and needs of your individual recipients, always offer the opportunity to update preferences in every email sent. Your customers’ interests and needs are constantly evolving, and you don’t want to miss an opportunity… or send a message that’s completely immaterial.

    2. Dynamic content has a place in every part of your email message. From your top-level headline, to your imagery, to the offers you present… multiple aspects of your email can (and should) adapt based on your subscriber’s most recent interactions with you. Data will tell you their online behaviors. What information did your customer view last? How long has it been since he made a purchase? Where was she posting your products? What did he buy, and what got returned? Are there items she usually stocks up on this time of year? The possibilities are endless!

    3. Consistency + thoughtful content = trust. The more targeted and tailored your email messages are, the more likely your subscribers are to open them and then click through on your information and offers. Just remember, once you start with a dynamic email content strategy, keep it up so your readers stay engaged. That doesn’t mean you can’t send more general, broad offers to your whole list on occasion – for a big sale, a major announcement, etc. – but closely manage a balance to ensure you maintain their interest and loyalty

    4. Consider the bigger “real-time” picture. Dynamic email content can draw on much more than your customer attributes and buying data. Consider targeting for local weather (“It looks like a gorgeous weekend, are you ready to enjoy the sun?”), the time of day the message is opened (“Ready for some night-owl deals?”), a limited time deal (“Only one hour left!”), the latest posts from social feeds… even the last things customers viewed or the most popular items trending (what others chose to view or purchase) that day.

    5. Keep track of what’s working. Various types of dynamic customizations will drive response from different segments. So analyze your email marketing campaigns carefully. Always be testing and optimizing. Look for what works and turn to your consistent winners to keep subscribers happy – but don’t be afraid to test something new in the mix to see if you can drive an even higher level of engagement.

    Teradata’s digital messaging solutions give a digital marketer the ability to adapt email content in real time, so you can make the most out of the information you glean from shoppers and subscribers. With dynamic email marketing you can provide value with each message and keep your readers coming back for more.

    It’s just one more way we help make data work for your business and your customers.

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  • admin 9:53 am on November 25, 2014 Permalink
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    Four Survival Skills That Every Next-Gen Marketer Needs 

    bear grylThe days when marketing executives could justify their jobs with “increased brand visibility” and “higher consumer confidence” now belong to a bygone era, like Mad Men and the three-martini lunch. The marketers of today sound more like data scientists than armchair sociologists as they talk about marketing ROI metrics and how technologies like Hadoop can transform the customer experience. It may seem as though Marketing has finally found its inner geek, but the reality is that data analytics has grown a lot cooler in the last five years. If marketers want to keep up in this new environment, they’ll need to develop these four survival skills and fast:

    An Analytical Mind

    Experience with data analytics is no longer just a qualification for IT. Next-gen marketers will need to roll up their sleeves and dig into their data with gusto and a good understanding of different analytic approaches. That means knowing the different strengths and weaknesses that enterprise data warehouses, marketing applications and big data systems bring to the table.

    The Ability to Navigate the C-Suite

    As marketing departments become drivers of technology in the business, they’ll need to communicate and build consensus among the CIO, CFO and CEO to get buy-in for those technology purchases. This requires that marketing learn to present its initiatives across the C-suite in measurable and understandable ways such as return on marketing investment, shifting capex to opex, growing top-line revenue and capturing market share.

    A Newfound Respect for Customer Preferences

    Next-gen marketers are expected to protect customer relationships and identities rather than behave like paparazzi who would put the pursuit of the perfect customer snapshot ahead of privacy. Despite the amount of personal information shared through social media, consumers are still highly selective and engaged in the kinds of information they share and with whom. Successful next-gen marketers will understand how to achieve customer intimacy by asking permission and using anonymized data analytics to protect identities.

    A Passion for Sharing

    On the other side of the coin, next-gen marketers will need to become better at sharing information with colleagues and trusted business partners. The old days of hoarding data insights like so much treasure have given way to infused intelligence where analytic insights are embedded into business processes such as supply chain management and customer service to create a consistent, 360-degree customer experience.

    As more next-gen marketers enter the global workforce, we’ll begin to see a profound change in the way that other departments and particularly the C-suite view the role of marketing in the organization. The outdated image of Mad Men working magic with smoke and mirrors who could be easily sacrificed to the chopping block during an economic downturn will disappear. In its place, the marketing department of the future will be viewed as a vital Data/Customer Champion whose efforts are instrumental in harnessing data to drive better decisions across the business.

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