JT on EDM

I got a chance to get an overview of the latest release of Oracle Real-Time Decisions, 3.0. This is the platform for real-time decisions on which various applications (for call center, web etc) are built and sold as part of the Oracle Applications suite.
The vision of this product is to optimize “return on attention” – [...]

Syndicated from BeyeNetwork
Gary Cokins had a great post – Fill in the blanks: Which X is Most Likely to X? in which he identifies some great uses for predictive analytics.Increasing employee retention, increasing customer profitability and increased shelf opportunity are classic uses. What Gary does so well in this post, though, is point out that [...]

A little while ago I got an update from Unica. While Unica may seem like a slightly tangential topic for me it actually is not. Not only do I think that many efforts to adopt decision management start with customer marketing decisions (Unica’s focus as part of Enterprise Marketing Management) but Unica has done a [...]

Continuing some posts on next generation warranty systems in the build up to speaking at the Warranty Chain management conference I thought I would contrast how current generation warranty systems handle critical decisions with how next generation systems do so.

Decision
Today
Next Generation

Is Claim Valid?
Data validation rules are coded into the user interface that captures [...]

Syndicated from Smart Data Collective
Matt Kramer of Axciom and Jun Zhong of Wells Fargo discussed some of the challenges presented by data in the context of predictive models. Matt began by discussing some of the reasons for modeling – reducing costs, avoiding simplistic decisioning, predict attritition, optimize marketing spend etc. Predictive models help by ranking [...]

Syndicated from Smart Data Collective
I am blogging live from Predictive Analytics World on behalf of SmartData Collective. Hopefully there will also be some podcasts. First up is Eric Siegel, program chair and President of Prediction Impact for the event.
Eric defines predictive analytics as “business intelligence” technology that produces a predictive score for each customer or [...]

I got a briefing on IVIS Group’s Sonetto product this week. Sonetto is most famous as the platform for Tesco’s multi-channel strategy. Sonetto is a product designed to focus on multi-channel operations, especially (but not exclusively) multi-channel retail. They make the very valid point that multi-channel retail is complex. Not only do retailers have multiple [...]

Wrapping up my responses to John Schmidt’s post on Customer Centricity with a discussion of Mass Customization. John describes this as managing trade-offs and building sophisticated models to customize your response to each and every customer based on their value…

Eric Siegel, who is chairing the new Predictive Analytics World show, presented on predictive analytics and business rules. Predictive analytics, says Eric, is a business intelligence technology that products a predictive score for each customer or prospect … and explanations thereof. These scores come from predictive models that are developed across your historical data. This [...]

Graham Hill wrote a piece on Evidence-based CRM that focused on evidence-based CRM programs and it made me think about evidence-based CRM processes.
To me, evidence-based CRM means customer relationships, and thus customer treatments, that are based on evidence (data) and not judgment, hope, guesswork etc. It means

making offers that you have evidence this customer will [...]