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Trends and Outliers

TIBCO Spotfire's Business Intelligence Blog

Monthly Archives: February 2014

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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02/25
2014

Big Data for Better, Faster Retail Banking Decisions

As more retail banking companies embrace the challenge of applying data analytics to their internal processes, they see more clearly the immediate and long-term benefits worth pursuing.

shutterstock 9203965 300x222 Big Data for Better, Faster Retail Banking DecisionsIf you’re in the retail banking industry here are some reasons you should get into the big data game, if you haven’t already.

Ninety-six percent of executives in the C-suites of leading Wall Street firms report having big data initiative planned or in progress, with 80% reporting they have at least one initiative completed, according to a survey by NewVantage Partners.

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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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02/20
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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02/19
2014

Big Data: The Key to Successful E-Commerce Strategies

Are online retailers using big data to grow their e-commerce efforts? Definitely. With metrics and data made openly available to analysis, big data has found a home among firms looking to increase conversions in the online retail sector.

shutterstock 132733193 300x198 Big Data: The Key to Successful E Commerce StrategiesHow Are Online Retailers Using Big Data for Business?

E-commerce aficionados are applauding the use of big data in e-commerce scenarios because it provides access to new approaches to online sales.

New forms of personalization, custom pricing, and customer service are attainable because online retailers are gathering and analyzing data at volumes and velocities previously unknown.

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02/18
2014

How Telcos Can Use Data Analytics To Save Money

As US mobile operators engage in an all-out price war to attract rival customers, analysts are expressing rising concerns that carriers could be facing tighter profit margins.

Unknown1 How Telcos Can Use Data Analytics To Save MoneyIn fact, Roe Equity Research analyst Kevin Roe sees an “unhealthy market dynamic” since he’s not convinced that AT&T’s recent $200 credit offer to entice T-Mobile customers will stop there.

“There’s more to come, and it will continue until AT&T has market-share stability,” Roe says.

If the marketing battle for customers does eat into profit margins as some industry experts have speculated, carriers will need to find other ways to offset these costs.

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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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02/12
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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02/11
2014

Big Data Analytics: The Key To Understanding the Cross-Channel Customer

Customers use a variety of channels to interact with companies today, including voice, web, chat, mobile, social, desktop video, etc. Not only do customers use different channels to satisfy specific needs, they also move from one channel to the next to do so.

omni channel 1 300x279 Big Data Analytics: The Key To Understanding the Cross Channel Customer For instance, a customer may research a product online and then enter into a click-to-chat discussion with an agent to get answers to his questions.

When the customer does this, he expects to move fluidly from one channel to the next. But he also expects the contact center agent to know the nature of the issue he was trying to resolve online.

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