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Trends and Outliers

TIBCO Spotfire's Business Intelligence Blog

Monthly Archives: June 2013

06/13
2013

The Need for Speed: Data Analysis for Real-Time Decision Making

While there has been intense publicity focused on the sheer volume of data swamping corporate networks, companies seeking to successfully exploit big data must also be able to quickly and easily adjust their analysis efforts, according to a new study.

1movement 150x150 The Need for Speed: Data Analysis for Real Time Decision MakingThe best performing companies are more likely than laggards to allow users to interact with data and to customize their analytics environments to meet their own needs, notes IT research firm Aberdeen Group.

Leading companies report that they find the information they need to inform decisions 85% of the time; that’s a stark contrast to less successful companies that report they only find the right information 59% of the time.

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06/12
2013

Social Analytics to Assemble an Army of Brand Advocates

Socially active customers wield a great deal of influence on the behaviors of their friends and families.

Consider this: 60% of Facebook users and 79% of Twitter users say they’re more likely to recommend a brand to their friends after interacting with that brand on a social network, according to a survey by research firm Chadwick Martin Bailey.

types of content to attract customers to your business 300x239 Social Analytics to Assemble an Army of Brand Advocates And features such as Twitter’s retweeting and Facebook’s sharing options make it easy for fans to immediately promote their positive customer experiences to others, as Aaron Parson notes in an article on the topic.

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06/11
2013

Data Analysis to Hedge Against Volatile Energy Costs

Thanks to the often dramatic swings in the price of oil, natural gas, electricity and other energy sources, many companies often find themselves reacting to market prices and paying stiff costs for energy.

energycosts Data Analysis to Hedge Against Volatile Energy CostsIn fact, the spot price for West Texas Intermediate Crude Oil has skyrocketed more than fivefold between 2002 and 2012, according to a report by The World Bank.

But as Google teaches us, companies can use data analysis to better predict energy consumption over time and to work with energy providers to fix pricing on energy over the long term.

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06/10
2013

Predictive Analytics: Predicting the Unpredictable Consumer

It’s become a ubiquitous sight for retailers: the customer hunched over a smartphone in a store browsing competitors’ prices and scouring consumer reviews before making a buying decision.

yesno 300x145 Predictive Analytics: Predicting the Unpredictable Consumer

So, how can retailers break through to this consumer who’s so distracted by a deluge of information?

Companies need to start with understanding their target customers, according to a recent blog post from Harvard Business Review.

And that means using predictive analytics.

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06/06
2013

Data Analysis and the Internet of Things: Driving Business Breakthroughs

The Internet of Things, which entails the use of physical and virtual sensors, can inform executives and other decision makers about an assortment of sensory-related information.

Unknown1 Data Analysis and the Internet of Things: Driving Business BreakthroughsThese insights can range from potential physical irregularities with operating equipment (as detected by changes in vibration patterns or other physical anomalies that can be detected in real-time) to sudden shifts in customer sentiment.

The types of data generated by the Internet of Things can be coupled with data analysis and data discovery tools and techniques to help business leaders identify emerging developments such as machines that might need maintenance to prevent costly breakdowns or sudden shifts in customer or market conditions that might signal some action a company should take.

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06/05
2013

Data Analysis: A Battlefield for Retailers and CPG Firms

Starbucks is a perfect example of what retailers and consumer packaged goods (CPG) companies are grappling with when it comes to analyzing the data deluging their networks from inside and outside the corporate walls.

databattlefield Data Analysis: A Battlefield for Retailers and CPG FirmsAs much as a quarter of the data the coffee brewer is dealing with comes from its loyalty cards, but the firm doesn’t quite know how to use the data yet, says Joe LaCugna, director of analytics and business intelligence at Starbucks.

In addition, while the company has a team that analyzes social media, it hasn’t yet figured out exactly what to do with that information, either, he notes.

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06/04
2013

Predictive Analytics to Cut Manufacturing Risk

For manufacturers to be successful in today’s volatile economic landscape, they must react quickly to challenging events and rely more often on managing operations on a predictive basis.

risk Predictive Analytics to Cut Manufacturing RiskIn fact, 86% of the top performing manufacturers are using analytics to reduce risk and improve operating performance, compared to 38% of average performing companies and 26% of industry laggards, according to research from Aberdeen Group.

Companies that feed data from their risk management systems into analytics and dashboarding applications can “more easily get the ‘big picture’ view of that state of their manufacturing operations – where the biggest risks lie – and most importantly where they should focus their efforts,” the report notes.

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06/03
2013

The Data Analysis of Regional Energy Efficiency

Although developed nations such as the US continue to become more energy efficient, developing nations that are growing at a faster clip aren’t nearly as energy efficient.

energyeff The Data Analysis of Regional Energy Efficiency The energy efficiency of a country, in simple terms, is the energy used by a country per dollar of GDP (gross domestic product).

One of the reasons for the disparity between regions is that developed nations tend to have larger service sectors that use less energy to produce each unit of GDP than manufacturing, which is more concentrated in developing nations.

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