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Trends and Outliers

TIBCO Spotfire's Business Intelligence Blog

Category Archives: Customer Relationship Management

03/04
2014

Big Data Analytics: The Gateway to Success in New Markets

As commerce continues to become more global, companies around the world are exploring opportunities to enter new geographies and new markets.

shutterstock 155944286 300x221 Big Data Analytics: The Gateway to Success in New MarketsBut in order for business leaders and entrepreneurs to connect successfully with consumers in new regions, it’s critical to develop a good understanding about local consumers, including their preferences, behaviors, and other cultural distinctions.

Big data about regional customers combined with analytics can be the gateway to discovery.

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01/27
2014

Predictive Analytics for Financial Services Firms: Forecasting the Future

While financial markets are notoriously hard to forecast, top performing companies in the financial services industry are using predictive analytics to gain new insights into customer behavior to drive revenue and deepen existing relationships with their customers.

shutterstock 146739185 291x300 Predictive Analytics for Financial Services Firms: Forecasting the FutureThat’s according to a new research report from Aberdeen Group that found that financial services companies that used predictive analytics saw a 10% increase in identifying new customer opportunities in the past year, compared to a 7% increase for companies not using predictive analytics

“This goes beyond basic demographic segmentation; predictive analytics reveals untapped market segments full of prospects to business development decision makers,” the report notes. “Predictive models identify the traits in potential customers that bear out to longstanding, profitable relationships.”

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01/21
2014

Big Data: Making the Customer Contact Center a Competitive Weapon

Contact centers have long been at the core of data collection about customers. But the added influx of information from big data now means the contact center is poised to be a strategic differentiator for firms that can successfully corral and analyze new data sources.

shutterstock 128810074 300x298 Big Data: Making the Customer Contact Center a Competitive WeaponThat’s the assertion of a new research report from Aberdeen Group that notes that new channels like social media platforms, online user groups and mobile devices have vastly accelerated the growth of customer data.

“This rapid growth in customer data, captured though myriad touch-points, presents unique challenges and opportunities,” the report notes. “It results in struggles within customer data management efforts, as contact centers will need to learn to seamlessly capture and utilize large sets of structured and unstructured data.”

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01/20
2014

Data Analytics To Evaluate the Environmental Impact of ‘Fracking’

The US is poised to surpass Saudi Arabia and Russia to become the world’s largest oil producer by 2016, according to the International Energy Agency.

images4 150x150 Data Analytics To Evaluate the Environmental Impact of FrackingMeanwhile, natural gas production in the US has risen tenfold since 2006, according to the U.S. Energy Information Administration.

One of the chief reasons the US has been able to achieve such dramatic gains in the exploration and recovery of both shale oil and natural gas deposits is due to the technique known as hydraulic fracturing (“fracking”).

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12/03
2013

Not All Big Data is Created Equal – Best Practices for Taking Action

The volume of data that’s now available to decision makers is mind-boggling. In fact, 2.5 quintillion bytes of data is being collected every day and the growth in data is simply astounding: 90% of all of the data that’s ever been created has been generated in just the past two years.

shutterstock 1519206711 300x271 Not All Big Data is Created Equal – Best Practices for Taking ActionHowever, experts warn that more data doesn’t necessarily result in better decision making.

“Even the best data doesn’t lead to the right decisions if you don’t know how to look at it,” says Rachel Kennedy, associate professor and director of the not-for-profit Ehrenberg-Bass Institute.

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11/14
2013

Acting on Mobile Customer Insights via Big Data Analytics

Without question, consumers’ extensive use of smartphones, tablets, and other mobile devices is creating rich opportunities for marketers and other corporate decision makers to identify customers’ locations, interests, and behaviors to better target them with offers and messaging.

shutterstock 125411303 276x300 Acting on Mobile Customer Insights via Big Data AnalyticsHistorically, it’s been difficult for marketers to quantify offline customer conversions (e.g., attracting someone to purchase a product following a magazine or billboard advertisement).

However, technological advances have led to innovation in tracking consumers in mobile and other digital channels.

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08/08
2013

Data Analysis to Build Consumer Trust

Like Verizon and Facebook, AT&T is also planning to sell customers’ smartphone data to third parties for marketing purposes.

trust2 Data Analysis to Build Consumer TrustUnder its forthcoming privacy policy, AT&T has announced that it will deliver more relevant advertising to customers based on the apps that they use along with their locations, made possible through GPS tracking capabilities.

The company has also offered assurances to its customers that any data that’s shared with third parties would be made anonymous to protect individual identities.

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05/28
2013

Data Analysis: Creating a Customer ‘Database of Intentions’

Top performing companies are using data analysis to create a “database of intentions” to more accurately predict and respond in real time to customer behavior.

want Data Analysis: Creating a Customer Database of IntentionsIn fact, 90% of the top performing companies have a marketing analytics initiative in place, compared with 69% of all other firms, according to a recent survey by Aberdeen Group.

The biggest goals of these top performing companies for marketing data analytics are to increase the response rate of marketing campaigns; increase the accuracy of audience targeting; and boost revenue from cross-selling.

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05/13
2013

Analytics Adds Personality to the Customer Experience

Companies amass a ton of information about their customers’ behaviors, preferences, and interests through data that’s gathered from customer interactions in various channels.

cusotmerezperience Analytics Adds Personality to the Customer ExperienceWhether a customer is browsing a company’s product pages to gather information about a product or she engages in a chat discussion with an agent about a service issue, companies can use this information with analytics to gain a richer understanding of each customer and to better tailor offers, messaging, services, and products for them.

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05/06
2013

3 Ways Analytics Boost Traditional Retailers’ CRM Strategies

To reach customers where they live, so to speak, traditional retailers should take a peek at what their pure-play e-commerce brethren are doing – incorporating analytics into their CRM (customer relationship management) strategies to ensure profitable relationships with their customers.

sales 3 Ways Analytics Boost Traditional Retailers’ CRM StrategiesFor brick-and-mortar retailers, big data analytics solutions are not just “nice-to-have” – they’re absolutely critical to the success of their CRM operations, according to an article in Direct Marketing News.

“CRM at tier-one retailers has not been about managing the customer relationship, it has been about offers,” says Bob Hetu, research director for retail at Gartner Inc. “They have to get beyond their prejudices, one channel over another. What paths to purchase customers take doesn’t matter. You have [to] support them in whatever way they choose to shop with you.”

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