Trends and Outliers
TIBCO Spotfire's Business Intelligence Blog
2013
Using Analytics to Better Manage Big Data from Smart Grids
Energy utilities, including transmission and distribution providers, are beginning to generate massive volumes of data from the billions of dollars being invested in smart grid efforts.
And analytics can help energy companies ensure the operational success of smart grids by enabling power companies to more effectively manage the streams of data that smart grid technologies are producing, as an Accenture report reveals.
This data, when applied effectively with analytics, can help energy companies evaluate the returns being generated against the sizable investments they’re making in smart grid technologies.
Continue reading »
Filed under: Big Data, Data Analytics, Energy, Vertical Markets
2013
Sharpening Media Advertising Through Advanced Analytics
As television, Internet, and other forms of media continue to converge, advertisers and media executives are striving to find the most effective ways to reach desired customer segments with the right messaging at the right time to generate optimal conversion rates.
Thanks to the capabilities and strengths of advanced analytics, media minds no longer have to rely on mass marketing and advertising approaches in the hopes of potentially engaging and converting just a fraction of the intended target audience.
Customer data, including information that customers share in online surveys, contact center interactions, transactions, and social media channels, can be mined by media marketers to identify the customers they’re trying to reach and the type of messaging that’s most likely to resonate with them and lead to conversion.
Continue reading »
Filed under: Advanced Analytics, Data Analytics, Marketing, Vertical Markets
2013
Predictive Analytics: ‘Argo’ and ‘Lincoln’ Big Oscar Winners
The 85th Academy Awards are coming up this month, and predictive analytics tools are pointing to big wins for “Lincoln” and “Argo.”
Lincoln has 12 nominations, including best picture and best actor. But as of the end of January, PredictWise says “Argo” will most likely win best picture (66% likelihood), with the best actor award for Daniel Day-Lewis as Abraham Lincoln a near certainty. And the likelihood that “Lincoln” director Steven Spielberg wins the best director award is 87%.
Continue reading »
Filed under: Big Data, Data Analytics, Predictive Analytics
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.
Today, 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.
Continue reading »
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).
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.
Continue reading »
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.
Before we jump into the predictions and commentary, we’d like to tell you a little bit about Piatetsky-Shapiro’s (@kdnuggets) background.
Continue reading »
Filed under: Big Data, Data Scientist, Vertical Markets
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.
By 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.
Continue reading »
Filed under: Data Analytics, Data Discovery, Telecommunications
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).
Continue reading »
A 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.
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.
Continue reading »
All 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.
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.
Still, 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.
Continue reading »
Filed under: Big Data, Data Discovery, Data Visualization
Recent Comments