Predictive Analytics Enters the Mainstream

Size: px
Start display at page:

Download "Predictive Analytics Enters the Mainstream"

Transcription

1 Ventana Research: Predictive Analytics Enters the Mainstream Predictive Analytics Enters the Mainstream Taking Advantage of Trends to Gain Competitive Advantage White Paper Sponsored by 1 Ventana Research 2014

2 Table of Contents From Obscurity to Availability 3 Getting Started: Process 4 Getting Started: Information 5 Getting Started: People 6 Getting Started: Technology 7 Building the Business Case 8 Taking the Next Step 9 About Ventana Research 11 2 Ventana Research 2014

3 From Obscurity to Availability Predictive analytics is the descriptive label for a range of statistical analyses that use historical data to anticipate the future. It encompasses a variety of techniques including data modeling, data mining and machine learning. Until recently, predictive analytics was a complex practice conducted by specialists with titles such as actuary, statistician and marketing scientist. In order to conduct such an analysis, the specialist often had to work with multiple departments and IT staff to acquire data from various systems, painstakingly prepare the analytical data set and then build a predictive model. If the model had to be integrated with another system such as a customer database, the analyst would have to write a document that explained the model s specifications to engineers. They in turn would write the code to execute the model Our benchmark research reveals that only one in five (21%) participating organizations is very satisfied with its predictive analytics efforts. specifications in the database for the users in a line of business. It s a messy process that invites confusion about who must respond next and often involves delays and errors. Moreover, because of all this complexity, the end result frequently fails to meet expectations. Our benchmark research on predictive analytics reveals that only one in five (21%) participating organizations is very satisfied with its predictive analytics efforts. Nonetheless, organizations have high expectations for future use of the technology: 86 percent of the participants in our research asserted that predictive analytics will have a major positive impact on their organization. And nearly one-third (32%) indicated that it could enable them to do things they couldn t do before. Technology is now widely available that can help organizations realize the potential of predictive analytics without spending great sums on specialists. However, technology alone rarely solves business problems. Organizations must understand and address the challenges in each of the four key dimensions of performance: processes, information, people and technology. 3 Ventana Research 2014

4 More than two-thirds (68%) of organizations that have implemented predictive analytics said they have gained a competitive advantage from it. Aligning these four dimensions is rarely an easy task, but the outcome is worthwhile. In this case, more than twothirds (68%) of organizations that have implemented predictive analytics said they have gained a competitive advantage from it. Let s consider how to address each of the four dimensions to prepare to use predictive analytics. Getting Started: Process From a process perspective, informal workflows centered around exchanging working files such as spreadsheets among a few stakeholders are notoriously inefficient. In our research 35 percent of those organizations using spreadsheets for analytics reported that data errors are common; 26 percent said that formula errors are common; and 32 percent said out-of-date information is a problem frequently or all the time. Innovative organizations choose another path. They use a formally defined collaborative process supported by technology that manages workflow among domain experts and data scientists and automates many of the steps in predictive analytics, from data collection through providing results to decision-makers. When compared to spreadsheets, these tools do a much better job of addressing the key technological challenges associated with predictive analytics: integration with the current architecture (cited by 55%), access to source data (35%) and inaccurate results (22%). Models are central to the predictive analytics process. They guide the transformation of input variables into probabilities of potential future outcomes or target variables. But over time models can get stale and produce inaccurate results. Thus to ensure effectiveness it is important to have a process to update predictive models frequently. Our research shows that this activity does not get the attention it deserves: Almost two-thirds (63%) of organizations update their models only monthly or even less often. Yet the one-fourth (24%) of organizations that are very satisfied with their analytics update their models daily or more often. 4 Ventana Research 2014

5 Organizations also should develop a process for scoring new records as quickly as possible for example, to assist customer service representatives during interactions or to make product recommendations to online customers based on items in their shopping carts. Here again we find a relation between an effective process and satisfaction with predictive analytics: 88 percent of those that use real-time scoring regularly said that they are satisfied or very satisfied with their predictive analytics tool. Understanding the process plays an important role in the deployment of predictive analytics; a knowledgeable examination can reveal inefficiencies that may put the organization at a competitive disadvantage. It is imperative to look at the entire predictive analytics cycle from extracting data through its preparation, model building, model scoring, model management and end-user consumption to determine whether and how each step can be improved. Getting Started: Information Predictive analytics is fueled by data, most prominently customer (69%), marketing (67%), product (55%), sales (54%), financial (51%) and employee (34%) data. Needless to say, data sources for predictive analytics are multiplying rapidly, as are their formats. Increasingly the data comes from outside the company firewall as well as within it. The significantly increased volumes of data from more diverse and distributed sources is commonly referred to as big data. Big data is linked to predictive analytics: The largest percentage (64%) of participants in our benchmark research on big data analytics said applying predictive analytics is a critical capability to have when analyzing big data. This research shows that the most common types of data used for big data analytics are transactional data from 5 Ventana Research 2014

6 applications (60%), external sources (50%), content such as documents and Web pages (49%) and event-centric data (48%). Our research on information optimization shows that managing all this data is an issue. Analysts spend most of their time on preparing data for analysis (48%) rather than actually interpreting the data (33%). This situation takes skilled employees away from the tasks that add the most value to their organization. To address the issues in managing information and preparing data sets for predictive analytics, organizations must be able to extract data from various sources, merge the data, reconcile different data formats, and enrich and clean the data. Automating these tasks can free analysts to do what they are trained for. Getting Started: People For years predictive analytics has been the domain of the statistician and the data scientist, but today that is changing. While personnel from data science and data mining (32%) are still the most common users, others from business intelligence and data warehousing (31%) and from lines of business (19%) now use predictive analytics as well. Even so, organizations most often are satisfied with a predictive analytics initiative when a data mining resource (70%) is involved, as compared to those in which only lines of business (65%) or business intelligence resources (59%) are involved. This research finds that training and support for users of predictive analytics is often lacking. Fewer than half of organizations provide adequate training in any of three key areas: concepts and techniques, their application to business problems, and the use of products. Even fewer (31%) provide adequate consulting resources or adequate helpdesk support (24%). Many of these skill and training issues can be addressed by using specialized tools now available. For instance, software-guided analytics 6 Ventana Research 2014

7 tools that perform automated data mining as well as collaboration capabilities make it possible for business users lacking specialized skills to work in predictive analytics. Statistical libraries allow users to implement statistical processes without building them themselves. Embedded training software that provides just-in-time tutorials and access to a knowledge library around different statistical techniques can help users from multiple roles within the organization to understand and interpret data. In these ways, cross-functional teams can work together to produce the desired outcomes. Getting Started: Technology Many organizations have complex technical environments associated with analytics. These include a variety of databases and business intelligence, data discovery and personal The biggest challenge associated with predictive analytics (cited by 55% of research participants) is to integrate tools with their organization s information architecture. productivity tools. Not surprisingly, the biggest challenge associated with predictive analytics (cited by 55% of research participants) is to integrate tools with their organization s information architecture. Research participants want predictive analytics integrated with other kinds of tools as well, especially business intelligence (58%) and other business applications (56%). Modern tools can help in this regard, enabling more companies to use predictive analytics for competitive advantage. Built-in connectors and data preparation software (often part of the predictive analytic tool) address the data extraction issue. In-memory processing enables data profiling for advanced data discovery processes, cleansing and data integration. Standards such as PMML make it possible to translate models into SQL. An array of tools support writing them in R, the open source language for statistical computing, and incorporating them directly into the analytic workflow. User-defined functions and in-process algorithms allow models to be run directly in the database. And flexible deployment options enable updating models on a regular basis and deploying models into front-line applications by integrating both scoring methods and rules to provide key metrics and next best action. 7 Ventana Research 2014

8 Building the Business Case Decision-makers with authority to support and approve an initiative usually are interested in its value to the company s performance that is, in the business case. Therefore, we advise enumerating benefits of predictive analytics that will appeal to those leaders. Asked in our research about achieved benefits, the largest percentages of companies named competitive advantage (68%), new revenue opportunities (55%) and increased profitability (52%). The business case should identify functional areas that are likely to benefit from predictive analytics; most often identified by research participants are marketing (65%), research and development (61%), sales (59%) and product management (50%). It should also identify the functional use; most often cited were forecasting (72%), market analysis (67%), customer service (45%), product recommendations (43%) and fraud detection (34%). Return on investment (ROI) is a critical metric. For predictive analytics this entails defining expected output, how it will be used to achieve enumerated benefits and where in the organization these benefits will be valuable. For example, competitive advantage and thus ROI can be achieved by improving understanding of different customer loyalty segments and predicting their preferences based on behavioral, attitudinal and demographic profiles. This information can be used to help define internal initiatives such as a product development and portfolio strategy, and also to create marketing communications campaigns that target different segments and enhance the brand in the mind of the customer. More tactically, the ability to predict what an individual customer might buy next can enable the company to better meet customer needs. Proper use of this information can result in increased revenue through 8 Ventana Research 2014

9 activities such as cross-selling and up-selling and impact key metrics such as revenue per customer, wallet share and customer satisfaction. The business case must address likely challenges in implementing a predictive analytics program. In general, lack of resources is the most common barrier encountered, cited by three in five (59%); two-thirds of management (that is, vice presidents) and executives said this is a barrier. Lack of awareness of the value of these analytics (45%) ranked second. Management and executives generally have a more complacent view of this than do users, who much more often are not satisfied with their predictive analytics; for the upper levels of the organizational chart the results loom larger than the effort it takes to produce them. Given this backdrop, another necessary part of the business case is to point out the insufficiency of current tools for conducting advanced analytics. Determine the extent to which people in the organization use spreadsheets and other manual processes for predictive analytics and point out their deficiencies for enterprise processes and complex analysis. Finally, clearly address each of the four dimensions outlined above to round out the business case. Investigate tools that bridge the skills gap and reduce reliance on data scientists by providing intuitive interfaces, automated data mining and collaboration. Taking the Next Step Organizations should begin by building a business case that addresses key areas of competitive advantage, revenue opportunities or operational efficiencies. Show why current legacy tools cannot attain these benefits and identify the opportunity costs associated with not moving to a more dedicated approach for predictive analytics. Build a cross-functional team that incorporates business domain knowledge, statistical knowledge and technological capabilities. Investigate tools that bridge the skills gap and reduce reliance on data scientists by providing intuitive interfaces, automated data mining capabilities and collaboration. 9 Ventana Research 2014

10 Due to the multitude of data sources and information challenges, determine the business areas to be affected as well as potential data sources necessary to access. Investigate easy-to-use software to extract data from a variety of sources and in all needed formats and to clean and enrich it prior to analysis. Identify other tools and applications with which predictive analytics should be integrated and make sure the software provides an efficient method for deployment. Our research shows that organizations are planning to invest more in predictive analytics. In the modern era of information and analytics, legacy approaches can be counterproductive and put companies at a disadvantage. We conclude that it is time for companies to rethink such approaches and explore the use of modern predictive analytics tools to seize a competitive advantage. 10 Ventana Research 2014

11 About Ventana Research Ventana Research is the most authoritative and respected benchmark business technology research and advisory services firm. We provide insight and expert guidance on mainstream and disruptive technologies through a unique set of research-based offerings including benchmark research and technology evaluation assessments, education workshops and our research and advisory services, Ventana On-Demand. Our unparalleled understanding of the role of technology in optimizing business processes and performance and our best practices guidance are rooted in our rigorous research-based benchmarking of people, processes, information and technology across business and IT functions in every industry. This benchmark research plus our market coverage and in-depth knowledge of hundreds of technology providers means we can deliver education and expertise to our clients to increase the value they derive from technology investments while reducing time, cost and risk. Ventana Research provides the most comprehensive analyst and research coverage in the industry; business and IT professionals worldwide are members of our community and benefit from Ventana Research s insights, as do highly regarded media and association partners around the globe. Our views and analyses are distributed daily through blogs and social media channels including Twitter, Facebook, LinkedIn and Google+. To learn how Ventana Research advances the maturity of organizations use of information and technology through benchmark research, education and advisory services, visit 11 Ventana Research 2014

Predictive Analytics

Predictive Analytics Predictive Analytics Improving Performance by Making the Future More Visible Benchmark Research Research Report Executive Summary Sponsored by Aligning Business and IT To Improve Performance Ventana Research

More information

Big Data Analytics. 10 Best Practice Recommendations. Assessing the Revolution in Big Data and Business Analytics. Sponsored by

Big Data Analytics. 10 Best Practice Recommendations. Assessing the Revolution in Big Data and Business Analytics. Sponsored by Big Data Analytics Assessing the Revolution in Big Data and Business Analytics 10 Best Practice Recommendations Sponsored by Copyright Ventana Research 2013 Do Not Redistribute Without Permission February

More information

Big Data Analytics. Research Report Executive Summary. Assessing the Revolution in Big Data and Business Analytics. Sponsored by

Big Data Analytics. Research Report Executive Summary. Assessing the Revolution in Big Data and Business Analytics. Sponsored by Big Data Analytics Assessing the Revolution in Big Data and Business Analytics Research Report Executive Summary Sponsored by Copyright Ventana Research 2013 Do Not Redistribute Without Permission Sponsor

More information

Next-Generation Predictive Analytics. Research Report Executive Summary. Using Forward-Looking Insights to Gain Competitive Advantage.

Next-Generation Predictive Analytics. Research Report Executive Summary. Using Forward-Looking Insights to Gain Competitive Advantage. Next-Generation Predictive Analytics Using Forward-Looking Insights to Gain Competitive Advantage Research Report Executive Summary Sponsored by Copyright Ventana Research 2013 Do Not Redistribute Without

More information

Visualizing the Customer Journey Using Analytics. White Paper. Optimizing the Customer Experience. Sponsored by

Visualizing the Customer Journey Using Analytics. White Paper. Optimizing the Customer Experience. Sponsored by Visualizing the Customer Journey Using Analytics Optimizing the Customer Experience White Paper Sponsored by Table of Contents Becoming Customer-Focused 3 Analytics Sharpens the Focus 5 Benefits of an

More information

Analytics To Optimize Marketing Performance. White Paper. Tools Can Help Marketers Make Better Decisions. Sponsored by

Analytics To Optimize Marketing Performance. White Paper. Tools Can Help Marketers Make Better Decisions. Sponsored by Analytics To Optimize Marketing Performance Tools Can Help Marketers Make Better Decisions White Paper Sponsored by Table of Contents The Role of Marketing Analytics 3 Metrics and Analytics 4 Simplicity

More information

Sales Compensation Management. Research Report Executive Summary. Improving the Impact of Pay and Incentives to Maximize Revenue.

Sales Compensation Management. Research Report Executive Summary. Improving the Impact of Pay and Incentives to Maximize Revenue. Sales Compensation Management Improving the Impact of Pay and Incentives to Maximize Revenue Research Report Executive Summary Sponsored by Copyright Ventana Research 2013 Do Not Redistribute Without Permission

More information

Exploring the Impact of Geographic Context On Business Processes. Research Report Executive Summary

Exploring the Impact of Geographic Context On Business Processes. Research Report Executive Summary Business Trends in Location Analytics Exploring the Impact of Geographic Context On Business Processes Research Report Executive Summary Copyright Ventana Research 2013 Do Not Redistribute Without Permission

More information

Big Data Integration. Research Report Executive Summary. Challenges and Opportunities in Accessing and Using Today s Information.

Big Data Integration. Research Report Executive Summary. Challenges and Opportunities in Accessing and Using Today s Information. Big Data Integration Challenges and Opportunities in Accessing and Using Today s Information Research Report Executive Summary Sponsored by Copyright Ventana Research 2013 Do Not Redistribute Without Permission

More information

Five Best Practices for Data Management Optimizing the Use of Data for Business Intelligence and Big Data

Five Best Practices for Data Management Optimizing the Use of Data for Business Intelligence and Big Data Ventana Research: Five Best Practices for Data Management Five Best Practices for Data Management Optimizing the Use of Data for Business Intelligence and Big Data White Paper Sponsored by 1 Ventana Research

More information

Workforce Analytics Enable Smarter Decisions

Workforce Analytics Enable Smarter Decisions Ventana Research: Workforce Analytics Enable Smarter Decisions Workforce Analytics Enable Smarter Decisions Finding the Right Tool for Human Capital Management White Paper Sponsored by 1 Ventana Research

More information

Five Risks of Ignoring Sales Performance Management

Five Risks of Ignoring Sales Performance Management Five Risks of Ignoring Sales Performance Management Seize the Opportunity To Achieve Better Results White Paper Sponsored by Aligning Business and IT To Improve Performance Ventana Research 2603 Camino

More information

Optimizing BI and Data Warehouse Performance

Optimizing BI and Data Warehouse Performance Optimizing BI and Data Warehouse Performance New Approaches To Get More from Your Information Assets Executive Summary Aligning Business and IT To Improve Performance Ventana Research 2603 Camino Ramon,

More information

Streamline EDI Using A Managed Service

Streamline EDI Using A Managed Service Streamline EDI Using A Managed Service Simplifying Electronic Data Interchange Research Perspective Sponsored by Aligning Business and IT To Improve Performance Ventana Research 2603 Camino Ramon, Suite

More information

Workforce Optimization 2015. Executive Summary

Workforce Optimization 2015. Executive Summary Workforce Optimization 2015 Executive Summary San Ramon, California January 2015 Ventana Research performed this research and analysis independently. Our goals were to determine the Value Index for Workforce

More information

Workforce Management in the Cloud. White Paper. Case Studies Reveal Benefits of Cloud Deployment. Sponsored by

Workforce Management in the Cloud. White Paper. Case Studies Reveal Benefits of Cloud Deployment. Sponsored by Workforce Management in the Cloud Case Studies Reveal Benefits of Cloud Deployment White Paper Sponsored by Table of Contents The Rationale for Cloud Computing 3 Adoption in the Enterprise 4 Human Capital

More information

Business Analytics in Retail

Business Analytics in Retail Business Analytics in Retail Benchmarking the Analysis of Data To Gain Insight Benchmark Research Research Report Executive Summary Aligning Business and IT To Improve Performance Ventana Research 2603

More information

Predictive Analytics: Too Important to Ignore The six secrets to success with predictive analytics

Predictive Analytics: Too Important to Ignore The six secrets to success with predictive analytics Predictive Analytics: Too Important to Ignore The six secrets to success with predictive analytics Webinar December 18, 2013 Sponsored by: Tony Cosentino VP & Research Director, Business Analytics Ventana

More information

Building an ROI Model for a Cloud-Based Contact Center

Building an ROI Model for a Cloud-Based Contact Center Building an ROI Model for a Cloud-Based Contact Center Comparing the cases for on-premises and cloud-based systems Research Perspective Sponsored by Aligning Business and IT To Improve Performance Ventana

More information

Executive Summary. Aligning Business and IT To Improve Performance

Executive Summary. Aligning Business and IT To Improve Performance Executive Summary of Contents Aligning Business and IT To Improve Performance Ventana Research 6150 Stoneridge Mall Road, Suite 350 Pleasanton, CA 94588 info@ventanaresearch.com (925) 474-0060 www.ventanaresearch.com

More information

Workforce Management for 2014. Vendor Report. Assessing the State of Applications and Technology for Business. Prepared for

Workforce Management for 2014. Vendor Report. Assessing the State of Applications and Technology for Business. Prepared for Workforce Management for 2014 Assessing the State of Applications and Technology for Business Vendor Report Prepared for San Ramon, California December 2013 Ventana Research performed this research and

More information

Making Open Source BI Viable for the Enterprise. An Alternative Approach for Better Business Decision-Making. White Paper

Making Open Source BI Viable for the Enterprise. An Alternative Approach for Better Business Decision-Making. White Paper Making Open Source BI Viable for the Enterprise An Alternative Approach for Better Business Decision-Making White Paper Aligning Business and IT To Improve Performance Ventana Research 6150 Stoneridge

More information

The Challenge of Big Data Benchmarking Large-Scale Data Management Insights from Benchmark Research

The Challenge of Big Data Benchmarking Large-Scale Data Management Insights from Benchmark Research Benchmarking Large-Scale Data Management Insights from Presentation Confidentiality Statement The materials in this presentation are protected under the confidential agreement and/or are copyrighted materials

More information

Trends in Total Compensation Management

Trends in Total Compensation Management Trends in Total Compensation Management Establishing the Foundation for Compensation Management Benchmark Research White Paper Aligning Business and IT To Improve Performance Ventana Research 2603 Camino

More information

Product Information Management 2015. Vendor Report Prepared for

Product Information Management 2015. Vendor Report Prepared for Product Information Management 2015 Vendor Report Prepared for San Ramon, California June 2015 Ventana Research performed this research and analysis independently. Our goals were to determine the Value

More information

Contact Center Analytics

Contact Center Analytics Contact Center Analytics Benchmarking the Analysis of Data To Gain Business Insight Benchmark Research Executive Summary Sponsored by Aligning Business and IT To Improve Performance Ventana Research 6150

More information

Beware of Performance Management Pitfalls

Beware of Performance Management Pitfalls Beware of Performance Management Pitfalls Smart Companies Avoid Basic Mistakes in Implementation White Paper Aligning Business and IT to Improve Performance Ventana Research 6150 Stoneridge Mall Road,

More information

Analytics and Business Intelligence 2015. Vendor Report Prepared for

Analytics and Business Intelligence 2015. Vendor Report Prepared for Analytics and Business Intelligence 2015 Vendor Report Prepared for San Ramon, California April 2015 Ventana Research performed this research and analysis independently. Our goals were to determine the

More information

THE STATE OF Social Media Analytics. How Leading Marketers Are Using Social Media Analytics

THE STATE OF Social Media Analytics. How Leading Marketers Are Using Social Media Analytics THE STATE OF Social Media Analytics May 2016 Getting to Know You: How Leading Marketers Are Using Social Media Analytics» Marketers are expanding their use of advanced social media analytics and combining

More information

Smart Ways To Improve Contact Center Performance

Smart Ways To Improve Contact Center Performance Smart Ways To Improve Contact Center Performance The right technology helps measure what matters White Paper sponsored by Aligning Business and IT To Improve Performance Ventana Research 1900 South Norfolk

More information

Analytics and Business Intelligence 2015. Vendor Report Prepared for

Analytics and Business Intelligence 2015. Vendor Report Prepared for Analytics and Business Intelligence 2015 Vendor Report Prepared for San Ramon, California April 2015 Ventana Research performed this research and analysis independently. Our goals were to determine the

More information

Executive Summary... 2. Sales Reps And Operations Professionals Need Rich Customer Data To Meet Revenue Targets... 3

Executive Summary... 2. Sales Reps And Operations Professionals Need Rich Customer Data To Meet Revenue Targets... 3 Executive Summary... 2 Sales Reps And Operations Professionals Need Rich Customer Data To Meet Revenue Targets... 3 Lack Of Accurate, Timely, And Actionable Customer Data Makes Goal Attainment Difficult...

More information

CONNECTING DATA WITH BUSINESS

CONNECTING DATA WITH BUSINESS CONNECTING DATA WITH BUSINESS Big Data and Data Science consulting Business Value through Data Knowledge Synergic Partners is a specialized Big Data, Data Science and Data Engineering consultancy firm

More information

Social Business Analytics

Social Business Analytics IBM Software Business Analytics Social Analytics Social Business Analytics Gaining business value from social media 2 Social Business Analytics Contents 2 Overview 3 Analytics as a competitive advantage

More information

IBM Cognos Enterprise: Powerful and scalable business intelligence and performance management

IBM Cognos Enterprise: Powerful and scalable business intelligence and performance management : Powerful and scalable business intelligence and performance management Highlights Arm every user with the analytics they need to act Support the way that users want to work with their analytics Meet

More information

Targeting. 5 Tenets. of Modern Marketing

Targeting. 5 Tenets. of Modern Marketing 5 Tenets of Modern Marketing Targeting The foundation of any effective Modern Marketing effort is to ensure you have a clear and accurate picture of your potential customers. Without the proper strategies

More information

Twitter: #VRBTL and @ventanaresearch. 1 2013 Ventana Research

Twitter: #VRBTL and @ventanaresearch. 1 2013 Ventana Research Twitter: #VRBTL and @ventanaresearch 1 2013 Ventana Research Busting up BI and Building a Big Data Analytics Foundation Tony Cosentino VP and Research Director #VRBTL and @tonycosentinovr 2 2013 Ventana

More information

SUSTAINING COMPETITIVE DIFFERENTIATION

SUSTAINING COMPETITIVE DIFFERENTIATION SUSTAINING COMPETITIVE DIFFERENTIATION Maintaining a competitive edge in customer experience requires proactive vigilance and the ability to take quick, effective, and unified action E M C P e r s pec

More information

Self-Service Big Data Analytics for Line of Business

Self-Service Big Data Analytics for Line of Business I D C A N A L Y S T C O N N E C T I O N Dan Vesset Program Vice President, Business Analytics and Big Data Self-Service Big Data Analytics for Line of Business March 2015 Big data, in all its forms, is

More information

How to Manage Your Data as a Strategic Information Asset

How to Manage Your Data as a Strategic Information Asset How to Manage Your Data as a Strategic Information Asset CONCLUSIONS PAPER Insights from a webinar in the 2012 Applying Business Analytics Webinar Series Featuring: Mark Troester, Former IT/CIO Thought

More information

DECISYON 360 ASSET OPTIMIZATION SOLUTION FOR U.S. ELECTRICAL ENERGY SUPPLIER MAY 2015

DECISYON 360 ASSET OPTIMIZATION SOLUTION FOR U.S. ELECTRICAL ENERGY SUPPLIER MAY 2015 Unifying People, Process, Data & Things CASE STUDY DECISYON 360 ASSET OPTIMIZATION SOLUTION FOR U.S. ELECTRICAL ENERGY SUPPLIER MAY 2015 Decisyon, Inc. 2015 All Rights Reserved TABLE OF CONTENTS THE BOTTOM

More information

Patient Relationship Management

Patient Relationship Management Solution in Detail Healthcare Executive Summary Contact Us Patient Relationship Management 2013 2014 SAP AG or an SAP affiliate company. Attract and Delight the Empowered Patient Engaged Consumers Information

More information

Five Ways To Improve the Customer s Experience

Five Ways To Improve the Customer s Experience Five Ways To Improve the Customer s Experience Optimizing the Outcome of Interactions White Paper Aligning Business and IT To Improve Performance Ventana Research 6150 Stoneridge Mall Road, Suite 350 Pleasanton,

More information

IDC MaturityScape Benchmark: Big Data and Analytics in Government. Adelaide O Brien Research Director IDC Government Insights June 20, 2014

IDC MaturityScape Benchmark: Big Data and Analytics in Government. Adelaide O Brien Research Director IDC Government Insights June 20, 2014 IDC MaturityScape Benchmark: Big Data and Analytics in Government Adelaide O Brien Research Director IDC Government Insights June 20, 2014 IDC MaturityScape Benchmark: Big Data and Analytics in Government

More information

WHITE PAPER Turning Insight Into Action. The Journey to Social Media Intelligence

WHITE PAPER Turning Insight Into Action. The Journey to Social Media Intelligence WHITE PAPER Turning Insight Into Action The Journey to Social Media Intelligence Turning Insight Into Action The Journey to Social Media Intelligence From Data to Decisions Social media generates an enormous

More information

Customer effectiveness

Customer effectiveness www.pwc.com/sap Customer effectiveness PwC SAP Consulting Services Advance your ability to win, keep and deepen relationships with your customers. Are your customers satisfied? How do you know? Five leading

More information

DISCOVER MERCHANT PREDICTOR MODEL

DISCOVER MERCHANT PREDICTOR MODEL DISCOVER MERCHANT PREDICTOR MODEL A Proactive Approach to Merchant Retention Welcome to Different. A High-Level View of Merchant Attrition It s a well-known axiom of business that it costs a lot more to

More information

Creating a Business Intelligence Competency Center to Accelerate Healthcare Performance Improvement

Creating a Business Intelligence Competency Center to Accelerate Healthcare Performance Improvement Creating a Business Intelligence Competency Center to Accelerate Healthcare Performance Improvement Bruce Eckert, National Practice Director, Advisory Group Ramesh Sakiri, Executive Consultant, Healthcare

More information

IBM Global Business Services Microsoft Dynamics CRM solutions from IBM

IBM Global Business Services Microsoft Dynamics CRM solutions from IBM IBM Global Business Services Microsoft Dynamics CRM solutions from IBM Power your productivity 2 Microsoft Dynamics CRM solutions from IBM Highlights Win more deals by spending more time on selling and

More information

Marketing Automation Strategy SURVEY SUMMARY REPORT

Marketing Automation Strategy SURVEY SUMMARY REPORT MARKETING PRACTICES AND PERFORMANCE BENCHMARKS Marketing Automation Strategy SURVEY SUMMARY REPORT Monthly Research Series Conducted in Partnership with Leading Marketing Solution Providers Marketing Automation

More information

The Top 10 Secrets to Using Data Mining to Succeed at CRM

The Top 10 Secrets to Using Data Mining to Succeed at CRM The Top 10 Secrets to Using Data Mining to Succeed at CRM Discover proven strategies and best practices Highlights: Plan and execute successful data mining projects. Understand the roles and responsibilities

More information

Improving the Contact Center Customer Experience

Improving the Contact Center Customer Experience Improving the Contact Center Customer Experience Supporting Data-Driven, Real-Time Customer Decisions White Paper sponsored by Aligning Business and IT To Improve Performance Ventana Research 6150 Stoneridge

More information

Demonstration of SAP Predictive Analysis 1.0, consumption from SAP BI clients and best practices

Demonstration of SAP Predictive Analysis 1.0, consumption from SAP BI clients and best practices September 10-13, 2012 Orlando, Florida Demonstration of SAP Predictive Analysis 1.0, consumption from SAP BI clients and best practices Vishwanath Belur, Product Manager, SAP Predictive Analysis Learning

More information

Solve Your Toughest Challenges with Data Mining

Solve Your Toughest Challenges with Data Mining IBM Software Business Analytics IBM SPSS Modeler Solve Your Toughest Challenges with Data Mining Use predictive intelligence to make good decisions faster Solve Your Toughest Challenges with Data Mining

More information

Mobile Business Intelligence for 2014. Vendor Report. Assessing the State of Technology for Business and IT. Prepared for

Mobile Business Intelligence for 2014. Vendor Report. Assessing the State of Technology for Business and IT. Prepared for Mobile Business Intelligence for 2014 Assessing the State of Technology for Business and IT Vendor Report Prepared for San Ramon, California January 2014 Ventana Research performed this research and analysis

More information

Marketing Automation

Marketing Automation Marketing Automation Benchmark Summary Report The most challenging obstacles to marketing automation success in the year ahead and how marketers plan to overcome them. Ascend2 Research Conducted in Partnership

More information

Accenture Business Intelligence for Fashion and Luxury. Creating a Differentiated Customer Experience for Long-term Brand Loyalty

Accenture Business Intelligence for Fashion and Luxury. Creating a Differentiated Customer Experience for Long-term Brand Loyalty Accenture Business Intelligence for Fashion and Luxury Creating a Differentiated Customer Experience for Long-term Brand Loyalty Fashion is inherently an ever-changing industry. Customer preferences fluctuate

More information

Enterprise Marketing Automation Platform

Enterprise Marketing Automation Platform Enterprise Marketing Automation Platform Marketing is undergoing a fundamental shift. Emerging channels such as email and mobile have created new and unique opportunities to reach a new generation of customers

More information

White Paper HOW TO INCREASE YOUR COMPANY S VALUE WITH PREDICTIVE ANALYTICS. What is Predictive Analytics?

White Paper HOW TO INCREASE YOUR COMPANY S VALUE WITH PREDICTIVE ANALYTICS. What is Predictive Analytics? Investment Banking Valuation & Forensics White Paper A Mariner Holdings Company Business Advisory HOW TO INCREASE YOUR COMPANY S VALUE WITH PREDICTIVE ANALYTICS Predictive analytics has long been used

More information

The Challenge of Mobile Business Intelligence

The Challenge of Mobile Business Intelligence The Challenge of Mobile Business Intelligence Developing a Successful Strategy for the New Mobility White Paper Sponsored by Aligning Business and IT To Improve Performance Ventana Research 2603 Camino

More information

Getting Business Value from Customer Engagement. Chet Geschickter, Research Director Gartner Energy & Utilities Industries Research

Getting Business Value from Customer Engagement. Chet Geschickter, Research Director Gartner Energy & Utilities Industries Research Getting Business Value from Customer Engagement Chet Geschickter, Research Director Gartner Energy & Utilities Industries Research 1 How Gartner Delivers Value Gartner research helps clients review, develop,

More information

Current Challenges. Predictive Analytics: Answering the Age-Old Question, What Should We Do Next?

Current Challenges. Predictive Analytics: Answering the Age-Old Question, What Should We Do Next? Predictive Analytics: Answering the Age-Old Question, What Should We Do Next? Current Challenges As organizations strive to meet today s most pressing challenges, they are increasingly shifting to data-driven

More information

Cyberica.NET Technologies E-Retailing Solutions Enabling Innovation as a growth driver for Enterprise of Tomorrow

Cyberica.NET Technologies E-Retailing Solutions Enabling Innovation as a growth driver for Enterprise of Tomorrow Cyberica.NET Technologies E-Retailing Solutions Enabling Innovation as a growth driver for Enterprise of Tomorrow Overview Cyberica is one of the most experienced software companies specializing in enterprise

More information

Strategic Guide to creating a World Class Customer Advisory Board Program

Strategic Guide to creating a World Class Customer Advisory Board Program Strategic Guide to creating a World Class Customer Advisory Board Program This paper is authored from CustomerAdvisoryBoard.org industry association research including the CAB Manager Industry Surveys,

More information

Key Findings 3. The Workforce Management Technology Maturity Model 4. Present Challenges 6. Workforce Automation 8

Key Findings 3. The Workforce Management Technology Maturity Model 4. Present Challenges 6. Workforce Automation 8 Table of Contents Introduction 3 Key Findings 3 The Workforce Management Technology Maturity Model 4 Present Challenges 6 Workforce Automation 8 Ranking the Degree of Automation 10 The Importance of Governance

More information

Make your CRM work harder so you don t have to

Make your CRM work harder so you don t have to September 2012 White paper Make your CRM work harder so you don t have to 1 With your CRM working harder to deliver a unified, current view of your clients and prospects, you can concentrate on retaining

More information

Customer intelligence

Customer intelligence Customer intelligence Fueling growth in the financial services sector qlik.com Maximizing the value of your customer base Although overall the Financial Sector is optimistic about the future, the markets

More information

5 Big Data Use Cases to Understand Your Customer Journey CUSTOMER ANALYTICS EBOOK

5 Big Data Use Cases to Understand Your Customer Journey CUSTOMER ANALYTICS EBOOK 5 Big Data Use Cases to Understand Your Customer Journey CUSTOMER ANALYTICS EBOOK CUSTOMER JOURNEY Technology is radically transforming the customer journey. Today s customers are more empowered and connected

More information

Solve your toughest challenges with data mining

Solve your toughest challenges with data mining IBM Software IBM SPSS Modeler Solve your toughest challenges with data mining Use predictive intelligence to make good decisions faster Solve your toughest challenges with data mining Imagine if you could

More information

Global Headquarters: 5 Speen Street Framingham, MA 01701 USA P.508.872.8200 F.508.935.4015 www.idc.com

Global Headquarters: 5 Speen Street Framingham, MA 01701 USA P.508.872.8200 F.508.935.4015 www.idc.com Global Headquarters: 5 Speen Street Framingham, MA 01701 USA P.508.872.8200 F.508.935.4015 www.idc.com E X C E R P T I D C M a r k e t S c a p e : U. S. B u s i n e s s C o n s u l t i n g S e r v i c

More information

Continuous Customer Dialogues

Continuous Customer Dialogues Continuous Customer Dialogues STRATEGIES FOR GROWTH AND LOYALTY IN MULTI-CHANNEL CUSTOMER-ORIENTED ORGANIZATIONS whitepaper TABLE OF CONTENTS: PAGE Overview...3 The Continuous Customer Dialogue Vision...4

More information

I N D U S T R Y S P O T L I G H T. T h e Grow i n g Appeal of Ad va n c e d a n d P r e d i c ti ve Analytics f o r the Utility I n d u s t r y

I N D U S T R Y S P O T L I G H T. T h e Grow i n g Appeal of Ad va n c e d a n d P r e d i c ti ve Analytics f o r the Utility I n d u s t r y (% of respondents) I N D U S T R Y S P O T L I G H T T h e Grow i n g Appeal of Ad va n c e d a n d P r e d i c ti ve Analytics f o r the Utility I n d u s t r y October 2014 Sponsored by SAP Advanced

More information

IRMAC SAS INFORMATION MANAGEMENT, TRANSFORMING AN ANALYTICS CULTURE. Copyright 2012, SAS Institute Inc. All rights reserved.

IRMAC SAS INFORMATION MANAGEMENT, TRANSFORMING AN ANALYTICS CULTURE. Copyright 2012, SAS Institute Inc. All rights reserved. IRMAC SAS INFORMATION MANAGEMENT, TRANSFORMING AN ANALYTICS CULTURE ABOUT THE PRESENTER Marc has been with SAS for 10 years and leads the information management practice for canada. Marc s area of specialty

More information

Three proven methods to achieve a higher ROI from data mining

Three proven methods to achieve a higher ROI from data mining IBM SPSS Modeler Three proven methods to achieve a higher ROI from data mining Take your business results to the next level Highlights: Incorporate additional types of data in your predictive models By

More information

Solve your toughest challenges with data mining

Solve your toughest challenges with data mining IBM Software Business Analytics IBM SPSS Modeler Solve your toughest challenges with data mining Use predictive intelligence to make good decisions faster 2 Solve your toughest challenges with data mining

More information

Data Quality in Retail

Data Quality in Retail SURVEY RESULTS Data Quality in Retail How Data Quality Issues Impact Business Processes and Decisions Across Retail Organizations TRILLIUM SOFTWARE Introduction As consumers share data across multiple

More information

Five Predictive Imperatives for Maximizing Customer Value

Five Predictive Imperatives for Maximizing Customer Value Five Predictive Imperatives for Maximizing Customer Value Applying predictive analytics to enhance customer relationship management Contents: 1 Customers rule the economy 1 Many CRM initiatives are failing

More information

Operationalizing Analytics:

Operationalizing Analytics: Operationalizing Analytics: The True State of Predictive Modeling in Insurance An White Paper Author: Mark Breading, SMA Partner Published Date: July, 2013 Page 1 Table of Contents About This White Paper

More information

MARKETING AUTOMATION

MARKETING AUTOMATION MARKETING AUTOMATION Benchmarks from the Agency Perspective What marketing automation success will look like in a year ahead and how agencies plan to achieve it, based on a broad-range of client experience.

More information

The Definitive Guide to Data Blending. White Paper

The Definitive Guide to Data Blending. White Paper The Definitive Guide to Data Blending White Paper Leveraging Alteryx Analytics for data blending you can: Gather and blend data from virtually any data source including local, third-party, and cloud/ social

More information

IBM Analytical Decision Management

IBM Analytical Decision Management IBM Analytical Decision Management Deliver better outcomes in real time, every time Highlights Organizations of all types can maximize outcomes with IBM Analytical Decision Management, which enables you

More information

BIG DATA + ANALYTICS

BIG DATA + ANALYTICS An IDC InfoBrief for SAP and Intel + USING BIG DATA + ANALYTICS TO DRIVE BUSINESS TRANSFORMATION 1 In this Study Industry IDC recently conducted a survey sponsored by SAP and Intel to discover how organizations

More information

Making Business Intelligence Relevant for Mid-sized Companies. Improving Business Results through Performance Management

Making Business Intelligence Relevant for Mid-sized Companies. Improving Business Results through Performance Management Making Business Intelligence Relevant for Mid-sized Companies Improving Business Results through Performance Management mydials Inc. 2009 www.mydials.com - 1 Contents Contents... 2 Executive Summary...

More information

A Road Map to Successful Customer Centricity in Financial Services. White Paper

A Road Map to Successful Customer Centricity in Financial Services. White Paper A Road Map to Successful Customer Centricity in Financial Services White Paper This document contains Confidential, Proprietary and Trade Secret Information ( Confidential Information ) of Informatica

More information

IBM Cognos Performance Management Solutions for Oracle

IBM Cognos Performance Management Solutions for Oracle IBM Cognos Performance Management Solutions for Oracle Gain more value from your Oracle technology investments Highlights Deliver the power of predictive analytics across the organization Address diverse

More information

Overview, Goals, & Introductions

Overview, Goals, & Introductions Improving the Retail Experience with Predictive Analytics www.spss.com/perspectives Overview, Goals, & Introductions Goal: To present the Retail Business Maturity Model Equip you with a plan of attack

More information

Advanced Analytics. The Way Forward for Businesses. Dr. Sujatha R Upadhyaya

Advanced Analytics. The Way Forward for Businesses. Dr. Sujatha R Upadhyaya Advanced Analytics The Way Forward for Businesses Dr. Sujatha R Upadhyaya Nov 2009 Advanced Analytics Adding Value to Every Business In this tough and competitive market, businesses are fighting to gain

More information

Predictive Marketing for Banking

Predictive Marketing for Banking Tony Firmani Predictive Analytics Solution Architect Predictive Marketing for Banking Business Analytics software Session Overview Data Drives Decisions Applying Predictive Analytics Throughout Entire

More information

IDC MaturityScape Benchmark: Big Data and Analytics in Government

IDC MaturityScape Benchmark: Big Data and Analytics in Government IDC MaturityScape Benchmark: Big Data and Analytics in Government Adelaide O Brien Research Director, IDC aobrien@idc.com Presentation to ACT-IAC Emerging Technology SIG July, 2014 IDC MaturityScape Benchmark:

More information

Make information work to your advantage. Help reduce operating costs, respond to competitive pressures, and improve collaboration.

Make information work to your advantage. Help reduce operating costs, respond to competitive pressures, and improve collaboration. Make information work to your advantage. Help reduce operating costs, respond to competitive pressures, and improve collaboration. May 2011 Advisory Consulting Table of contents Transform data from a hindrance

More information

KnowledgeSEEKER Marketing Edition

KnowledgeSEEKER Marketing Edition KnowledgeSEEKER Marketing Edition Predictive Analytics for Marketing The Easiest to Use Marketing Analytics Tool KnowledgeSEEKER Marketing Edition is a predictive analytics tool designed for marketers

More information

KnowledgeSEEKER POWERFUL SEGMENTATION, STRATEGY DESIGN AND VISUALIZATION SOFTWARE

KnowledgeSEEKER POWERFUL SEGMENTATION, STRATEGY DESIGN AND VISUALIZATION SOFTWARE POWERFUL SEGMENTATION, STRATEGY DESIGN AND VISUALIZATION SOFTWARE Most Effective Modeling Application Designed to Address Business Challenges Applying a predictive strategy to reach a desired business

More information

Mitel Professional Services Catalog for Contact Center JULY 2015 SWEDEN, DENMARK, FINLAND AND BALTICS RELEASE 1.0

Mitel Professional Services Catalog for Contact Center JULY 2015 SWEDEN, DENMARK, FINLAND AND BALTICS RELEASE 1.0 Mitel Professional Services Catalog for Contact Center JULY 2015 SWEDEN, DENMARK, FINLAND AND BALTICS RELEASE 1.0 Contents MITEL PROFESSIONAL SERVICES DELIVERY METHODOLOGY... 2 CUSTOMER NEEDS... 2 ENGAGING

More information

WHITEPAPER. Creating and Deploying Predictive Strategies that Drive Customer Value in Marketing, Sales and Risk

WHITEPAPER. Creating and Deploying Predictive Strategies that Drive Customer Value in Marketing, Sales and Risk WHITEPAPER Creating and Deploying Predictive Strategies that Drive Customer Value in Marketing, Sales and Risk Overview Angoss is helping its clients achieve significant revenue growth and measurable return

More information

SAP Solution Brief SAP HANA. Transform Your Future with Better Business Insight Using Predictive Analytics

SAP Solution Brief SAP HANA. Transform Your Future with Better Business Insight Using Predictive Analytics SAP Brief SAP HANA Objectives Transform Your Future with Better Business Insight Using Predictive Analytics Dealing with the new reality Dealing with the new reality Organizations like yours can identify

More information

Optimizing Payroll Management Making Payroll a Strategic Part of Human Capital Management

Optimizing Payroll Management Making Payroll a Strategic Part of Human Capital Management Optimizing Payroll Management Making Payroll a Strategic Part of Human Capital Management Research Report Copyright Ventana Research 2013 Do Not Redistribute Without Permission Sponsor February 2014 Ventana

More information

Five Predictive Imperatives for Maximizing Customer Value

Five Predictive Imperatives for Maximizing Customer Value Executive Brief Five Predictive Imperatives for Maximizing Customer Value Applying Predictive Analytics to enhance customer relationship management Table of contents Executive summary...2 The five predictive

More information

Hurwitz ValuePoint: Predixion

Hurwitz ValuePoint: Predixion Predixion VICTORY INDEX CHALLENGER Marcia Kaufman COO and Principal Analyst Daniel Kirsch Principal Analyst The Hurwitz Victory Index Report Predixion is one of 10 advanced analytics vendors included in

More information