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  • admin 9:51 am on November 21, 2017 Permalink
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    Put your AI to the test – it’s Turing time! 

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  • admin 9:52 am on August 26, 2017 Permalink
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    It’s time to wake up to the big data goldmine 

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  • admin 9:54 am on August 4, 2017 Permalink
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    Security: It’s not just about keeping the bad guys out 

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  • admin 9:57 am on July 27, 2017 Permalink
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    The future of marketing — it’s (still) the data, stupid 

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  • admin 9:52 am on November 23, 2016 Permalink
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    It’s Not Hybrid Unless It All Works Together 

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  • admin 9:51 am on October 9, 2015 Permalink
    Tags: 2015’s, , , , It's, , ,   

    It’s Q4. What Happened To 2015’s Promise Of Improved Customer Relationship Management? 

    customer experienceWritten by Janete Ribero, Professional Services Senior Consultant at Teradata Marketing Applications. Located in São Paulo, Brazil, Janete is the technical lead for Teradata Marketing Applications solution implementation throughout Latin America and the Caribbean. 

    2015 started with a promise of better days for marketers all over the world. There were countless headlines about digital solutions designed to easily and quickly enhance the customer experience, and the big consultancy groups declared that the new year would bring new ways for omnichannel marketing, big data and analytics to increase customer relationship management and your brand’s competitive advantage.

    Now here we are in Q4, and for many companies, realizing those promises remains a challenge. Some bought marketing technology, but still haven’t seen the ROI. They don’t know how to use it effectively to improve profitability and achieve better relationships with their customers.

    This past June, the market research consulting firm MarketsandMarkets predicted the big data market will exceed $ 46 billion in value by 2018. Clearly, companies are still eager to invest in “data.” But, do they really understand why they need to? Where is the “intelligence” behind those investments?

    And speaking of “intelligence,” I’m starting to hear more and more about “customer intelligence,” a term used to describe how all the internal and external information gathered about a customer can be put to work to improve products and services. To me, that echoes what we heard a year ago: the promise that data, alone, is all you need.  But this is not so.

    What “customer intelligence” really means is that customer data can be used to better identify buyer profiles and behaviors about a company’s products and services –if that data is gathered using the right marketing applications and analyzed with the appropriate analytics tools.

    In the article Why big data alone is an inadequate source of customer intelligence, Tyler Douglas writes about how to use big data for strategic vision, and he neatly summarizes the marketer’s dilemma:

    “For marketing departments to derive value from big data, they have to get better at leveraging social science, data analytics and consumer insights. Understanding the nuances of customer behavior—the motivations, or the “why” behind behaviors—gives us true insights. And those cannot come from a centralized and isolated big data department.”

    With that kind of data-driven, integrated marketing approach, I believe a big data investment can have a rapid return. You’ll achieve customer intelligence and a positive ROI once you can link your customer data to insights that lead to better actions and more relevant, individualized communications.

    This message applies to you even if your companies is focused on providing services to partners. Remember, your partners are marketing and selling services to an important group: the end customer. In order to help them do their job, you also need an understanding of the end customer— and that understanding can be gained through a customer intelligence program.

    Your marketing organization can provide additional business value to your company partners by helping them determine how to effectively market to the end customer. For example, you can offer partners access to your community of customers and let them pre-test marketing assets. Partners can even evaluate the success of their investment by measuring how much of an impact the campaign had on purchase intent, brand awareness or other metrics.

    Every day, it seems there are more technology tools available for use in today’s increasingly competitive marketplace. But proceed thoughtfully. You need to make sure your approach is data-drive, integrated and innovative. That is the key for success with technologies and profitability.

    (For additional source material, see 2015 Insight Innovation eXchange – http://insightinnovation.org/)

    The post It’s Q4. What Happened To 2015’s Promise Of Improved Customer Relationship Management? appeared first on Teradata Applications.

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  • admin 9:51 am on September 30, 2015 Permalink
    Tags: It's, smallscreen,   

    It’s a small-screen world 

    mobileusersSQThis post originally appeared on The Economist Group’s Lean back blog.

    The average person’s attention span is now even shorter than a goldfish’s, and mobile is pervasive, with activity on smartphones and tablets accounting for 60 percent of digital media time spent in the U.S. No wonder so many marketers are intent on creating brand messaging that’s easy to notice, easy to read and easy to digest. But if that’s your principal focus, are you also creating sales and marketing content that’s easy to forget?

    Today’s marketing campaigns must appeal to distracted, small screen users on the move, and we all know visuals are preferred over text. That means if you want to get your message across, the writing itself must adapt.

    As content expert Neil Patel explains: “For mobile content, concise writing is essential. In this case, the necessity has more to do with the screen size than the user’s attention span. Your goal is to present the user with as much on-screen information as possible without requiring the user to swipe or tap. The more cogently you can express an idea, the better.”

    Even so, images and writing alone aren’t enough. You also need data-driven marketing. I’ve seen too many companies invest resources to ensure downloads of snazzy new apps, only to be disappointed. It’s as though achieving metrics around downloads overshadowed the app’s real purpose: individual customer engagement.

    Your objective isn’t to market an app. Your objective is to connect your brand with individual customers. Research shows that despite the numerous apps downloaded, few are used after the first few times.

    Wouldn’t it make more sense to devote your efforts to increasing engagement among existing users? To do that, you need to:

    • Return to basics—your brand: A strong brand resides within the hearts and minds of customers. Make sure your app delivers your message clearly.
    • Put attention where it belongs—on the customer: Design your app around the needs, wants and preferences of your customers. Offer value.
    • Extend the customer relationship by developing individualized interactions that draw on customer data: Use real-time data-driven marketing to build ongoing relationships and enhance customer loyalty.
    • Use the new interactions to glean even more insights: Analytics enable you to architect better experiences, increase value to customers and ultimately, generate greater revenue.

    As always, the success of your enterprise marketing strategy depends on solutions that boost real-world business transactions, whether those actions happen via an app or some other channel.

    The post It’s a small-screen world appeared first on Teradata Applications.

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  • admin 9:54 am on June 14, 2015 Permalink
    Tags: , , Grid, It's, ,   

    It’s Getting More And More Difficult To Live Off The Grid 

    off the gridIt’s hard to believe that twenty years ago, only 14% of U.S. adults had internet access. 42% had never even heard of it.

    My, how times have changed.

    Today, an estimated 92.5% of Americans have broadband internet access in their homes.  90% have a cell phone, and 64% own a smartphone of some sort (up 29% from 2011). That’s right: Not only do most of us have internet access — we have it at our fingertips, everywhere we go. And let’s not stop at the border. By 2020, an estimated 80% of the people on the planet will have phones capable of some sort of internet connection. (That’s more phones than toothbrushes!)

    Screens have officially become a hugely important part of our lives, and they now play an integral role in keeping us connected with one another across town… and across the world. That’s just one of the many benefits to the rapid proliferation of internet and mobile technology.

    But there’s no denying that there are downsides, too.

    For instance, it’s nearly impossible to escape the constant noise and output of screens. They’re everywhere we go, from our offices to our schools to our homes and all the places we play, shop and eat.

    As a marketer, I’m sure you love the 24-7 opportunities to interact with customers and prospects. However, you have to remember that all of us are on the same grid, competing for the attention of an audience that’s increasingly distracted. It may be tempting to try to score a win by being the loudest or most frequent voice out there… and yet, we know from our own experiences that no one likes to be pummeled into submission by a relentless barrage of marketing messages.

    Is there a way to make your voice stand out from the fray without persistent yelling?

    Yes, there is. You can distinguish yourself by shifting your focus to marketing campaigns that are customer-centric and individualized. You can use data driven marketing to create a seamless, relevant, helpful customer experience — rather than another meaningless, intrusive pitch that consumers find so annoying.

    The vast majority (90 percent) of the marketers who participated in our Teradata 2015 Global Data-Driven Marketing Survey told us that making their marketing individualized is a priority. Unfortunately, though, only 50 percent said they routinely apply data to individualize their messages and offers. Until that number climbs higher, a significant portion of the marketplace will continue to ignore or tune out anything related to marketing.

    Not that “tuning out” is always bad. Actually, putting the screens away is a pretty great thing to do now and then — because that simple action allows our eyes to go elsewhere. Like up in the sky, to see the stars. Like across the table, to see the folks you love. Like down the road, towards the beach waiting for your visit.

    Those “off-the-grid” moments are the most valuable of all. But now that it’s becoming more and more difficult to claim them, I believe marketers should step up to the challenge and provide more meaningful interactions on the grid, too.

    So tell me: How will YOU be making / taking time off the grid this year time around?

    The post It’s Getting More And More Difficult To Live Off The Grid appeared first on Teradata Applications.

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  • admin 9:52 am on May 25, 2015 Permalink
    Tags: , , Csuite’s, , , It's, , , ,   

    It’s the C-suite’s turn: New studies show CEOs need to get into data-driven marketing 

    Conference RoomWhen I wrote Big Data Marketing in 2013, my goal was to get past all the hype and fear to open up the conversation about the benefits of data-driven marketing. Now, two years later, has the dialogue shifted? Are marketers becoming more data-driven?

    Results from the recent Teradata 2015 Global Data-Driven Marketing Survey indicate that marketers are eager to move beyond the status quo and use the technologies available to them to truly individualize marketing communications; however, there’s still plenty of room for improvement.  For instance:

    • 90 percent of the 1,500+ marketers we surveyed said that individualized marketing is a priority. But only 50 percent routinely apply data to individualize their messages and offers.
    • The number of companies utilizing data-driven marketing strategically has more than doubled (36 percent in 2013 vs. 78 percent today). But 44 percent reported that achieving consistency in omni-channel marketing remains a challenge.
    • 59 percent said faster decisions are a key benefit of using data, and 67 percent feel decisions involving data are more accurate. But 80 percent said silos within marketing itself prevent an omni-channel view of campaigns.

    What can companies do to keep moving forward?

    Another study Teradata conducted in partnership with The Economist Intelligence Unit found that the most important thing businesses can do is continuously evolve their data culture to become more customer-centric. That means CEOs need to remove their rose-colored glasses and start developing a shared data-driven vision, one that’s based on insights about the information and experience each customer wants.

    What’s the first step? Resolve misperceptions.

    Forty-seven percent of CEOs we surveyed believe all employees have access to the data they need, but only 27 percent of managerial respondents agreed. Similarly, CEOs were more likely than employees to think relevant data is captured and made available in real time (43 percent vs. 29 percent) and that employees extract relevant insights from data (38 percent vs. 24 percent).

    Our results showed that when those disconnects are resolved, the entire company benefits:

    • Among top performers—those from companies that “significantly” or “somewhat” outperform in profitability—63 percent said data initiatives are launched and driven by corporate leadership, and 41 percent have a centralized data/analytics group that introduces and implements data initiatives.
    • Data-driven companies are more likely to generate higher profits. They’re also twice as likely to report a culture of creativity and innovation, and they’re much more likely to reap benefits like greater collaboration and better quality and speed of execution.

    These two studies can help marketers identity the strategic pressure points for positive change. It’s time to narrow in on the C-suite and corporate data.

    This post originally appeared on the Economist Group’s Lean back blog.

    The post It’s the C-suite’s turn: New studies show CEOs need to get into data-driven marketing appeared first on Teradata Applications.

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  • admin 9:52 am on April 15, 2015 Permalink
    Tags: , , Enrollment, , , It's, , Members, ,   

    Health Care Pro’s! It’s Half Past Enrollment: Do You Know What Your Members are doing? 

    As the health insurance industry moves closer toward embracing a retail-oriented, consumer-focused business model, it is crucial to know as much as possible about members both before and after enrollment. Health plans that are able to anticipate and execute on interventions for better service, retention, sales and management of health, will yield the highest gains in this new consumer-focused business model. A data-driven strategy empowered by insights around individual and population needs can improve the experience for the member and improve the health of the member population while also minimizing cost. If you think about it, having a customized service for health insurance is a win-win for all parties involved.

    I recently attended a conference focused on consumerism for health plans. Most of the topics were aligned to the Accountable Care Act products and enrollees. There was a separate track for Medicare Advantage and Medicaid. As I listened to panel members discuss their approach to having a better marketing strategy or a better service strategy, the key point was focused on the best use of data.

    One member was proudly talking about his health plan’s efforts with the Private Health Exchange. He mentioned that one of their biggest challenges was that they knew nothing about these “new members.” I raised my hand and asked how many members were previously enrolled with the plan. Answer: high, actually 90%. The problem was that the reporting was based on “group level” information and thus they were unable to relate it back to the individual. So the history of a member’s risk and stratification is missing. Think about the ramifications — as they apply to the missed opportunity for health engagement, continuation of health coaching, and revenue risk.

    Consumers are free to select the health plan that meets their healthcare needs in several markets; Medicare Advantage, Medicaid, the Healthcare Public Exchange and Private Exchanges. Integrating consumer data with prospect lists and current member information reveals patterns that can be rolled up into segments of consumers. Marketing campaigns can be personalized — if the data is integrated at the consumer level — so that the offer (sales or health intervention) is tailored and the messaging is more effective to the consumer.Health-Insurance-011Effective communication strategies benefit the entire life cycle of consumer engagement from sales and marketing to onboarding of new members into appropriate health and wellness programs. Strong communication also helps avoid dissatisfaction due to changes in the provider network or formulary, and helps enable retention for those with a high consumer lifetime value, plus consistent clinical intervention to avoid gaps in healthcare. Effective data driven communication strategies will improve the bottom line.

    Health plans have multiple channels in which to market their products; the public health exchange, private health exchange, retail stores, in-house telemarketing agents, external agents, kiosks in retail malls or stores, mail and more. Integrating marketing campaign data with sales channel activity provides insight about which campaign is attributed to the consumer that’s purchasing insurance. Relating the consumer to segmentation information helps to make the next campaign smarter.

    Understanding the channel preference of each individual and the attribution between the campaign and sales channel, assists the health plan in understanding the effectiveness of campaigns and enlightenment around how segments of consumers behave. Is it true that baby boomers prefer contact via phone? That is a hypothesis that can be proven by analysis. An effective segment might be a segment of one, where it makes sense and create campaigns driven by the data and the behavior of the consumer.

    Once a member enrolls, what are all of the interactions that occur between the member and health plan? A member, as a consumer, can vote with their feet during re-enrollment. What plans are in place to understand the member experience from sales, to enrollment, to service, claims submission and health management, if applicable?

    Integrating all interactions that a member has with a health plan and analyzing patterns of behavior can provide insights to improve experience and the bottom line. Examples include: what activity leads to complaints or dissatisfaction, predict which members are on the path to multi-skeletal surgery, understand which path of on-line activity leads to a purchase of insurance, predict which members are likely not to adhere to medications required to control chronic conditions. All of these insights can be applied to improve business processes or target those members where an intervention will result in behavior change to improve health or reduce costs.

    Some new members, especially on a private exchange, are not really new members at all. Some are loyal members who were enrolled in a group product — who are now shopping and interacting with the health plan as a new consumer. Amazingly, some health plans are working with a blank slate because they are unable to relate prior claim history with current experience in order to understand the health condition(s) of new members.

    In an era of the 3 R’s, a health plan that can’t integrate all data related to a consumer stands to lose revenue in state risk pools, and misses the opportunity for early engagement into health management programs. Developing a master person index and integrating all information is critical to bridge data between products for understanding a member’s clinical profile.

    A health plan today needs the ability to identify individuals and households across all lines of business and all products. A single consumer level identifier is necessary in order to compete.

    I’m sure members who were enrolled in a group product and now enrolled as individuals in the private exchange do not think of themselves as new members. If fact, they have an expectation that the health plan already knows and anticipates their needs. A health plan should know the customer’s current and past health conditions, their preferred method of communication, whether or not they comply with health protocols, whether or not they are on the road to a more severe health condition — and if they are likely to recommend your insurance product.

    So while 2014 was the year of acquisition; 2015 is the year of retention.

    What do you know about your “new” members and who do you want to actively retain? In an era where retention will become increasingly important, understanding causes of disenrollment, which members are likely to disenroll and a consumer’s life time value will become an important factor in deciding retention strategies. It’s half past enrollment, what do you know about your members?

    Rose Cintron Allen bio sized photo

    Rose Cintron-Allen is the Practice Lead Healthcare Consultant for Teradata with over 20 years experience in the health and life insurance industries, with more recent experience in the managed pharmacy industry. Rose’s expertise is in developing decision support solutions for the healthcare industry and helping organizations meet their business challenges through technology solutions.

     

    The post Health Care Pro’s! It’s Half Past Enrollment: Do You Know What Your Members are doing? appeared first on Industry Experts.

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