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Trends and Outliers

TIBCO Spotfire's Business Intelligence Blog

Category Archives: Predictive Analytics

04/07
2014

Predictive Analytics: Reading Your Customers’ Minds

Forward-thinking companies like Amazon aren’t just responding to the needs of their customers – they’re anticipating what customers want and providing offers and products based on customer sentiment, transactional trends, and lifecycle status.

shutterstock 100364444 290x300 Predictive Analytics: Reading Your Customers Minds Customers share truckloads of information about themselves – including behavioral, attitudinal, and transactional. Some of this information is shared intentionally through social media sentiment, as well as through survey responses and the like.

But some of the data such as channel behaviors is gleaned without customers’ knowledge. And that makes many consumers uncomfortable about the amount of information that companies have about them and are using to tailor offers and messaging.

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03/24
2014

Analytics to Help Mitigate Price Volatility Risk in Manufacturing Supply Chains

Manufacturers consistently face numerous risks related to protecting the operational integrity of their supply chains, including heat and vibration that can impact the operations of plant equipment and production systems to unforeseen glitches such as transportation problems, and natural disasters.

shutterstock 106896005 300x240 Analytics to Help Mitigate Price Volatility Risk in Manufacturing Supply ChainsThese and other issues can adversely affect the abilities of suppliers to deliver raw materials and other vital products manufacturers need to produce products and meet market demands.

Manufacturing leaders know all too well that even the slightest disruptions to their supply chains can have significant impacts on their quarterly profits.

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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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03/03
2014

Boosting Sales with Data Analysis

In a market where buyers have multiple channel options for interacting with companies and even more options for researching and getting recommendations for products and services, sales teams are under more pressure than ever to deliver results.

shutterstock 101170021 300x225 Boosting Sales with Data AnalysisWhile sales organizations may have eschewed advanced technology in favor of spreadsheets, the most effective organizations are providing their sales teams with predictive analytics to gain the insight needed to boost revenue.

That’s according to a blog post from Mark Smith, CEO and chief research officer at Ventana Research, which has found that more than half (59%) of organizations still use spreadsheets to manage sales forecasts.

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02/27
2014

Data Analysis To Boost Retail Banking’s Top Line

While the banking industry has bounced back on paper from the financial meltdown that began in 2008 – posting a 70% increase in net income since 2009 – much of the industry’s rebound has come from slashing costs and writing off bad debt.

shutterstock 97135283 300x188 Data Analysis To Boost Retail Bankings Top LineBut now banks are perched on the precipice of another crisis because they haven’t been able to grow their top lines and they face aggressive competition for boosting the sales of products and services, according to a new report from KPMG.

In the post-crisis environment, banks must systematically change themselves to meet new customer demands, relying on analytics and predictive modeling to effectively exploit new data streams, the report notes.

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02/26
2014

Big Data for the Greater Good: Public Safety and Predictive Analytics

Just as big data helps business leaders improve decision making, big data can help in the public safety arena by enabling police officers to solve cases and prevent crimes. But the more data that is accessible, the more difficult it is to arrange and analyze.

shutterstock 24544438 192x300 Big Data for the Greater Good: Public Safety and Predictive AnalyticsEvery day, police departments across the country are faced with processing massive amounts of data from social media networks, GPS technologies, CCTV footage, as well as background information.

But to manipulate that much data, they need the technology to do it. As police departments struggle to consolidate and integrate this data, they look to make the most of technology that’s easily accessible.

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02/20
2014

3 Reasons Retail Banks Should Get Serious About Predictive Analytics

A focus on predictive analytics can position retail banks for continued success in slow or very competitive markets.

shutterstock 99647729 300x225 3 Reasons Retail Banks Should Get Serious About Predictive Analytics While this is not a comprehensive look at how predictive modeling can give your financial organization a leg up, we’ve examined some promising research to bring you three areas where predictive analytics will be key this year and beyond.

1. Increased customer knowledge and acquisition

The companies that tap into the power of forecasting with predictive analytics rather than relying on historical data will see an increase in profitability of up to 20% in the next three years, according to a recent report from Gartner Inc.

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02/13
2014

Data Analytics To Help Wireless Carriers Attract, Retain Customers

T-Mobile, AT&T, and other wireless carriers continue to offer deals aimed at enticing customers of rival networks to jump ship. T-Mobile’s latest offer, dubbed Un-Carrier 4.0, includes its willingness to offer customers up to $350 to cover early termination fees and up to $300 for trading in their phones.

shutterstock 146275550 300x271 Data Analytics To Help Wireless Carriers Attract, Retain Customers T-Mobile CFO Braxton Carter justifies the offers in a recent interview with CNET where he explains that the wireless carrier calculated the real estimated costs it would need to shell out to acquire rival customers.

Carter says that in most cases the early termination fees (ETFs) it would have to pay to entice customers to join T-Mobile would average about $150 per subscriber.

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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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01/27
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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