For companies to benefit from mining to find the business insight gems in big data, they certainly need data scientists and analysts, but it is also vital for managers to be well-versed in predictive analytics to bolster the bottom line. Many managers might be reluctant to delve into the world… Read More →
At TIBCO Spotfire, our mission is providing companies, non-profit organizations, government agencies, and other entities with the ability to capture the right information at the right time and act on it proactively to gain competitive advantage. Occasionally, the success that’s achieved by our clients is recognized by the industry. This… Read More →
“It is no longer good enough to simply satisfy your customers or to have a product that works. No longer can you merely deliver a service within the timescale you have set. All these are important and we have to do them. But what will really make the difference is… Read More →
Next best action marketing has gained a great deal of momentum in recent years. That’s because companies are increasingly focused on gathering, analyzing, and acting on insights for appropriate actions to take with individual customers. For instance, let’s say a bank customer applies for a new credit card. Bank officials… Read More →
According to a recent study published by the Economic Intelligence Unit and PriceWaterhouseCoopers, 79% of executives make a “big” decision every quarter and one in three business leaders place the value of these decisions at $1 billion or more. However, when it comes to using data and analytics, just 32%… Read More →
When it comes to innovation, people often think of ground-breaking innovation like Post-It Notes and laser surgery. But most companies would welcome a series of small innovations that deliver measurable impact on operations or business performance over time. Case in point: To help keep excitement and demand high for Beanie Babies in… Read More →
In today’s hyper-competitive global economy, it’s becoming increasingly difficult for companies to differentiate themselves by price or product. However, one distinction that every company has to its advantage is unique information about its customers that it’s able to act on.
Predictive analytics can help CFOs and other business leaders examine a full range of market and operational data that can help them better forecast business outcomes (e.g., revenue, profits, operational costs).
A common mantra for many analysts is that they don’t get to spend enough time analyzing data to extract vital insights because they simply spend too much time preparing data for analysis.
Customer surveys and focus groups can help organizational leaders better understand their customers’ needs and preferences. However, the responses offered by customers in these forums can often be biased as a result of how the survey questions are couched or how the respondents believe the questions should be answered.