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Trends and Outliers

TIBCO Spotfire's Business Intelligence Blog

Monthly Archives: January 2013

01/30
2013

4 Ways to Use Data Analysis to Pinpoint Customer Intent

Before the rise of the social web, sales and marketing departments were forced to rely on historical sales figures to try to predict how and when customers would pull the purchasing trigger.

pin target 4 Ways to Use Data Analysis to Pinpoint Customer IntentToday, customer intent clues are widely available via comments on social networks, previous browsing behavior, email open rates, call center and sales department interactions and past receptiveness to offers and promotions.

But this big data gold mine is spread across multiple channels that often fall outside a company’s internal network landscape. And that means determining customer intent requires data analysis to mine for the insight that can bolster sales.

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01/29
2013

Is Big Data Dying? An Expert’s View

Has big data been the victim of too much hype? Has it failed to live up to its promise? Or have businesses asked too much of big data and not given enough?

Gartner Inc. says thousands of businesses have tried – but failed – to figure out how big data can provide them with the insights they need to make critical business decisions.

Right about now these same businesses that initially had such high expectations for big data are feeling quite disillusioned. And they’re about ready to give up on something that they thought was so brilliant not so long ago.

But maybe they should reconsider says Gregory Piatetsky-Shapiro (@kdnuggets).

 Is Big Data Dying? An Experts View

Yesterday, we shared a recap of KDNuggets.com editor Piatetsky-Shapiro’s view on the big data and data scientist landscape for 2013. Today, we’re bringing you a more in-depth prediction – the death of big data and big data startup companies.

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01/28
2013

Top Big Data Trends for 2013 from Gregory Piatesky-Shapiro

Data scientist and editor of KDNuggets.com Gregory Piatetsky-Shapiro recently shared some of his big data insights for 2013.

In  a recent Google+ Hangout, he gives his take on where big data helps companies, where he thinks we’ll see more focus and the real role of the data scientist.

 Top Big Data Trends for 2013 from Gregory Piatesky Shapiro

Before we jump into the predictions and commentary, we’d like to tell you a little bit about Piatetsky-Shapiro’s (@kdnuggets) background.

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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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01/23
2013

Top 5 Overlooked Best Practices for BI Success

Everyone’s buzzing about big data and the vast opportunities available for companies to make use of data analysis and data discovery tools and techniques.

However, even though many business leaders are eager to exploit big data for their businesses, many also believe that they face sizeable obstacles to achieving success with business intelligence (BI).

Business Intelligence BI Solutions to improve business processes Top 5 Overlooked Best Practices for BI SuccessA whopping 85% of respondents cite significant impediments to managing and analyzing data, according to a recent survey of 569 C-level executives, business unit leaders, and IT executives. The challenges range from being overwhelmed by the sheer volume of data to not having enough dedicated staff to analyze it.

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01/22
2013

A New Game: Marketing in a Big Data World

Marketing departments everywhere are grappling with a sharp paradigm shift.

They used to be the sole rulers of their brands’ domains, with iron-clad control of the messages distributed about their products. Now, consumers have wrestled the power away from marketing departments as they flock to social networks, forums and other digital outlets on a variety of devices to broadcast their frank opinions about products and services.

Digital Marketing A New Game: Marketing in a Big Data WorldAll of this big data that consumers reveal about themselves in different digital paths provide a wide variety of opportunities for marketers to tailor their messages more effectively than ever before. But this shift away from traditional marketing requires new skills for marketers.

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01/21
2013

Data Discovery: Harnessing Big Data on a Small Budget

Huge volumes of data that are streaming in from numerous sources are making it possible for companies of all sizes to use data analysis and data discovery tools and techniques to gain deeper insights about market trends and customer behaviors.

google analytics big data Data Discovery: Harnessing Big Data on a Small BudgetStill, a common assumption is that the tools and expertise needed to take advantage of these opportunities are restricted to the largest enterprises with the resources and capital to do so, according to a recent Aberdeen Group report.

In fact, 51% of respondents from small companies (less than $50 million in revenue) cite the expense of software and services as the primary inhibitor preventing them from investing in and improving their data environments, according to the report.

However, additional research by Aberdeen Group finds that the same tools and techniques used by large enterprises to provide fast, scalable data analysis with big data are also being utilized by small companies.

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01/17
2013

Making the Data Analysis Pitch to Senior Management

Many CEOs and senior executives hesitate to commit to data analysis investments due to concerns over the costs, time, and resources required to launch these efforts.

That’s according to a recent panel discussion among insurance industry executives on the topic.

Business value 200x176 Making the Data Analysis Pitch to Senior ManagementWhile some executives are reluctant to invest in data analysis efforts because of a perceived lack of clear return on investment, there are several different ways that analytics champions can make convincing arguments for the business case behind analytics.

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01/16
2013

Data Analysis: It’s Not Just for Big Business

Big data and the potential it offers to big business has dominated many headlines in recent months.

That statement is especially true as corporate behemoths start reaping the rewards of their investments in data analysis by boosting the bottom line.

New Microsoft Office PowerPoint 2007 Presentation 300x225 Data Analysis: Its Not Just for Big BusinessHowever, the story for small and medium-size businesses has not been at the forefront of the news. But it should top the agenda for SMBs, which can reap the same rewards from the avalanche of data tumbling into their corporate confines.

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01/15
2013

3 Ways Financial Analytics Turn Customer Complaints into Positive Opportunities

Bill Gates once said, “ Your most unhappy customers are your greatest source of learning.”

And that’s an area where financial analytics can pay off this year – growth through complaints. It’s a tactic that’s recommended by research from both Ernst and Young and PricewaterhouseCoopers.

michael4 3 Ways Financial Analytics Turn Customer Complaints into Positive OpportunitiesUse Data to Fix Bad Experiences

In its annual Experience Radar: 2013, US Retail Banking report, PwC says that banks should “fix the bad first.”

“Two out of five customers shifted business to another bank after a bad experience. Turn issues into opportunities to build loyalty,” one key finding suggests.

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