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Trends and Outliers

TIBCO Spotfire's Business Intelligence Blog

Category Archives: Data Discovery

04/16
2014

Conquering the Key Challenges of Big Data

Big data offers companies a number of useful benefits, including opportunities for decision makers to gain deep insights about customers and market opportunities.

shutterstock 146516834 150x150 Conquering the Key Challenges of Big DataWhen used effectively with analytics tools, big data can also help business leaders identify and stem emerging issues (e.g., a developing bottleneck in a company’s supply chain) – even before they’ve reached the surface.

Companies Still Need to Address Big Data Challenges 

Still, despite the tremendous opportunities that it offers, big data also presents some heady challenges to organizations.

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03/27
2014

Solving Problems with Data Visualization

It’s an age-old problem in business. A mishap occurs, like a flawed batch of products that are produced due to an as-yet-unknown manufacturing glitch.

shutterstock 4457203 300x225 Solving Problems with Data VisualizationDowntime to analyze and fix the malfunction could take hours or days, depending on the severity of the problem and whether defective manufacturing parts have to be ordered, shipped, and installed.

Collecting the Data & Describing the Problem

Depending on the nature of the business and the items being produced, even a temporary halt in production could cost a manufacturer thousands, perhaps even millions, of dollars. Where do decision makers turn? Data visualization tools are great first steps.

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03/18
2014

Data Discovery To Promote a Risk-Taking Culture

Ubiquitous communications are making it possible for companies around the world to compete on a more level playing field, notes Thomas L. Friedman in his book, “The World Is Flat.”

shutterstock 65614993 300x276 Data Discovery To Promote a Risk Taking CultureWe’ve seen relative newcomers such as Amazon, Facebook, Google, and Zappos grow their businesses in leaps and bounds, thanks in large part to their intelligent uses of data and technology.

Companies in emerging countries such as Brazil, India, China, and Vietnam are also capitalizing on high-speed communications and the use of data to compete successfully against established companies in a wide range of industries.

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02/24
2014

Big Data Analytics to Drive Self-Service Adoption in Retail Banking

The fallout from the financial crisis that began in 2007 continues to impact retail banks. As banks have lost and struggled to regain customer trust, they’ve also labored to retain their most profitable customers.

shutterstock 135762791 300x199 Big Data Analytics to Drive Self Service Adoption in Retail BankingIndeed, one-third of the new banking products that global customers have purchased over the past year have come from banks other than customers’ primary banks, according to a customer loyalty study by Bain & Company.

To retain and attract profitable customers, many retail banks are focused on providing face-to-face branch services for high-value clients.

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02/12
2014

Data Visualization To Boost Business Performance

There is no denying corporate profits are increasing. But, economists and business leaders are expressing growing concerns that weak consumer confidence, ongoing layoffs, flat wages, and other economic factors are weakening consumer buying power and will prevent corporate profits from continuing to climb.

Unknown Data Visualization To Boost Business PerformancePressure on business leaders has been intensified, and when combined with the challenges of keeping pace with dynamic market conditions, decision makers can no longer rely on stale Excel spreadsheets to make informed decisions.

Business leaders need real-time, actionable insights on customer, financial, operational, and market data that allow them to act quickly – ahead of their competitors – on rapidly changing conditions.

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02/05
2014

For a Competitive Advantage, Try Visual Data Discovery

The reams of data companies capture about their businesses – combined with the vast volumes of data consumers are generating – can help companies yield insights to create new revenue streams and boost the bottom line.

shutterstock 172050770 300x200 For a Competitive Advantage, Try Visual Data DiscoveryBut the technology landscape to exploit big data can be confusing. For example, what is the difference between data discovery and data visualization?

Limited User Interaction with Information with Data Discovery

Data discovery is “the discovery of relationships between data elements, regardless of where the data is stored,” according to Bloor Research.

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01/29
2014

Letting Go of Excel: It’s a Breakthrough, Not a Breakup

Are you looking for a way to help your users and analysts develop a greater understanding of your company? If your answer is yes – and it should be – then we propose a breakup with Excel.

moving beyond excel 620x360 300x174 Letting Go of Excel: Its a Breakthrough, Not a BreakupIt’s not that Excel isn’t good enough for your data. There is just a better and faster way to visualize information, and find key insights in the data you’re collecting in those spreadsheets that flow from databases with marketing and sales backend analytics and information.

So, just like when you’re deciding to breakup with a vendor, we’re offering some pros and cons of moving to a data discovery platform such as Spotfire Cloud.

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02/15
2013

Strengthening Customer Loyalty via Data Discovery

One of the strengths of analytics tools is their ability to reveal previously hidden insights about customers to help companies strengthen their relationships with those customers.

customer loyualty Strengthening Customer Loyalty via Data DiscoveryThis includes mining information that customers share in social media channels and contact center interactions that can uncover the types of things that matter most to customers (e.g., timely service, consistent experiences, private shopping opportunities).

Strategies for attracting and retaining customers are much simpler when efforts to drive repeat business are largely centered around segmenting customers and creating the right incentives and rewards to earn loyalty, as a recent article in Information Management highlights.

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02/07
2013

Cool News: Customer Feedback Moves TIBCO Spotfire to Gartner BI MQ for 2013

What moved Spotfire to a Leaders position in the 2013 Business Intelligence and Analytics Magic Quadrant from Gartner, Inc.?

While you’ll need to review the entire report to see all the details, we can share a few highlights and insights as to why Spotfire customer feedback helped move the product into the Business Intelligence Magic Quadrant Leaders category.

Gartner Magic Quadrant 290x300 Cool News: Customer Feedback Moves TIBCO Spotfire to Gartner BI MQ for 2013First, it’s important to know how the survey works. Gartner defines vendors in the Business Intelligence and Analytics Magic Quadrant as having “a software platform that delivers 15 capabilities across three categories: integration, delivery and analysis.”

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01/24
2013

Tapping Into Data Discovery to Prevent Telco Customer Churn

Telecommunications companies, including wireless providers, have historically struggled with high rates of customer churn (aka customer attrition), with customer defection rates as high as 40% for some wireless companies.

17450178.cms  Tapping Into Data Discovery to Prevent Telco Customer ChurnBy contrast, the customer attrition rate for banks is 12.5% annually, according to a white paper by Financial Publishing Services.

This is important for telecom executives to recognize for several reasons. For starters, it costs more to find and replace telecom customers than it does to keep existing customers.

Numerous industry studies have found that it costs a company five times as much to acquire a new customer than to retain an existing customer.

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