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Trends and Outliers

TIBCO Spotfire's Business Intelligence Blog

Monthly Archives: July 2013

07/31
2013

Location Analytics: Doing It Like Bond, James Bond

Bond is lost, camping out in a bunker underneath a volcano 150 km outside Petropavlovsk, in northwest Siberia. It’s been three months since he was sent to investigate the interests of Spectral Corporation, the largest wheat producers east of the Urals.

Shivering from the cold, he stares at a computer screen showing a montage of overlapping spreadsheets, various visual interpretations of grain production data, a heat map illustrating the top production zones, and planning permission documents from the Russian government.

Having clearly identified what he was sent to find – Bond quickly shuts the computer and places a call to M, informing her that the mission is complete and that he’s on his way home.

map1 300x183 Location Analytics: Doing It Like Bond, James Bond

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07/29
2013

Big Data for Sales and Marketing – It’s the New Internet

Big data offers sales and marketing teams the largest new opportunity since the advent of the Internet almost 20 years ago.

internet Big Data for Sales and Marketing – Its the New InternetThat’s what three McKinsey & Co. sales and marketing partners claim in a recent blog post.

The potential of leveraging data analysis looms large for many companies to boost sales and extend marketing reach. But the best way to take advantage of opportunities is still confounding many.

“Organizations today face overwhelming amounts of data, organizational complexity, rapidly changing customer behaviors, and increased competitive pressures,” according to the post. “New technologies as well as rapidly proliferating channels and platforms have created a massively complex environment.”

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07/24
2013

Data Analysis: Going Outside the Vault for Customer Insights

Since the global financial crisis began in 2007, banking customers have lost confidence in financial institutions. This has taken a devastating toll on customer loyalty.

banking data 300x165 Data Analysis: Going Outside the Vault for Customer InsightsIn fact, 50% of all banking customers have either changed banks or are planning to switch, according to a recent global consumer banking survey by Ernst & Young.

In order to regain customer loyalty, banks need to create relevant product offers that address the unique needs and preferences of individual customers.

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07/23
2013

Data Analysis: Variations on a Theme by Data-Driven Firms

While many companies acknowledge that they should be using data-driven decision making throughout their organizations, there is a dearth of information about what data-driven organizations actually look like.

variation 300x190 Data Analysis: Variations on a Theme by Data Driven FirmsBut there certain important traits that data-driven companies share, according to Thomas Redman,  president of Navesink Consulting Group and author of “Data Driven: Profiting from Your Most Important Business Asset.”

First, data-driven companies work to drive decision making to the lowest possible level.

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07/22
2013

Winning in Pharmaceutical Emerging Markets with Analytics

Over the next five years, two-thirds of pharmaceutical sales growth will come from emerging markets. While this presents enormous potential, how can organizations compete to capture new opportunities? It all comes down to the data..

This infographic lays it all out.  Click anywhere on the image for a larger view.

Tibco Spotfire v 5b.fw  e1374503655153 Winning in Pharmaceutical Emerging Markets with Analytics

 

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07/22
2013

Car Insurance Data Analysis Helps Acquit Man of Murder

Right about now, Cleveland, Ohio resident Michael Beard is thanking his lucky stars, not to mention the Progressive Casualty Insurance Co.’s data-collecting Snapshot device, for his freedom.

not guilty 150x150 Car Insurance Data Analysis Helps Acquit Man of MurderWhen Beard agreed to install the usage-based insurance device in his car all he wanted to do was save a few bucks on his premiums.

He had no way of knowing that the data collected by that monitoring device would help clear him of murdering his seven-month-old daughter.

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07/18
2013

Pros, Cons of Spinning Off an Analytics Business

Demand for data and data analytics continues to surge across all industries. As companies develop their own expertise in data analysis, it only makes sense for executives to consider offering analytics services to other businesses.

spin off 10 19 127 150x150 Pros, Cons of Spinning Off an Analytics BusinessAnd a few brand-name companies have already taken the leap.

For example, drawing upon its expertise in forestry sustainability, Weyerhaeuser has created a wholly-owned consulting subsidiary called Weyerhaeuser Solutions that helps companies in the energy, mining, manufacturing, and investment management industries develop, manage, and commercialize forest-based products.

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07/17
2013

Mitigating the Security Risks of Big Data

While the use of big data and analytics can provide corporate decision makers with rich insights into business, customer, and operational trends, companies also need to assess the risks associated with using big data.

risk 150x150 Mitigating the Security Risks of Big DataThese include the risks that come with inadvertently exposing personally-identifiable information about customers or transferring data outside of a required geographic area.

In today’s business environment, practitioners are becoming increasingly concerned about the security risks posed by the use of big data. In fact, 76% of senior-level IT and security professionals say the inability to secure data through big data efforts is worrisome, according to a survey by Voltage Security.

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07/16
2013

Data Analysis for When Failure is the Best Option

Given the rising likelihood of failure for companies today – combined with the ever-increasing amount of data – it’s cheaper than ever for companies to take risks.

failure Data Analysis for When Failure is the Best Option That’s the assertion of Alistair Croll, author of the book “Lean Analytics,” which focuses on how companies, especially startups, can better focus on innovation and change through data analysis.

“The duration of your working life is now almost certainly greater than the lifespan of a company,” Croll says in a New York Times blog post. “That makes everyone more willing to accept that they will be disrupted.”

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07/15
2013

Big Data: Saving the World’s Forests

Add forestry to the numerous industries that are making use of big data and data analytics to manage their businesses more effectively.

trees Big Data: Saving the Worlds ForestsA growing number of forestry firms are using big data and data analytics to help meet their sustainability goals as well as ensure that they generate a continuous supply of timber, according to an article by SiliconANGLE’s Mike Wheatley.

As Wheatley points out, using predictive analytics isn’t new to the forestry industry. For years, companies have used predictive modeling to forecast the impact of controlled burns, harvesting, and other forest management strategies.

“But until recently it’s been a slow and cumbersome process, involving thousands of man hours spent poring over custom-made spreadsheets, with a lot of guess-work thrown in,” notes Wheatley.

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