Posts tagged as:

Analytics

The High ROI of Data Mining for Innovative Organizations

February 19, 2009

Syndicated from Smart Data Collective
John Elder presented a collection of case studies to showcase the ROI of data mining. John started by making the point that many of his case studies had technical success but not business success – an interesting statistic. John sees three major ways that predictive analytics can help – streamlining, eliminating [...]

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SAS and the art and science of better

February 19, 2009

Syndicated from Smart Data Collective
Anne Milley from SAS, one of the sponsors of the show, spoke on the art and science of better. Data is often messy and the enterprise is not a lab. Nevertheless, she says, we can still bring science to bear. We can observe, define, measure, experiment, learn and ACT. Anne had [...]

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5 ways to reduce cost with predictive analytics

February 19, 2009

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 [...]

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First Look – KXEN

February 17, 2009

I got my first chance to really see KXEN’s product a little while ago and, as I am off to Predictive Analytics World tomorrow, I thought I would blog about it. KXEN was founded in 1998. The product is designed to deliver automated data mining and predictive analytics at a function level – the user [...]

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Decision management and automated recommendations

February 16, 2009

This post caught my eye last week – ecommerceinsights.com Blog » Automated recommendations: ubiquitous in 2009?
Predictive merchandising becomes ubiquitous, and the crowd begins to separate. “Predictive merchandising” is also referred to as “automated merchandising” or “personalized product recommendations”. Whatever term you like (or are marketing) we will see this area are the “product reviews of [...]

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DIALOG closing thoughts – better decisions for a smarter planet

February 12, 2009

One of the best things about being at DIALOG was the opportunity to meet a bunch of ILOG customers and learn how they are making better decisions in their organizations. It seems to me that every one of these customers is, in a very practical way, helping to build a smarter planet. The first group [...]

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Predictive analytics in marketing decisions

February 10, 2009

I saw this little post over on Angoss’ blog:  The Score – Utilizing predictive analytics for marketing in 2009. In it they identify three areas in marketing where you could put predictive analytics to work. Each one struck me as deserving of a comment on the value of decision management in that context:
Marketing more optimally [...]

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Analytics run amok?

February 3, 2009

Joe McKendrick pointed me to a story on ABC News today -  ‘Good Morning America’ Gets Answers: Some Credit Card Companies Financially Profiling Customers. The story is worrying and has some good reporting in but, as usual, the analytics behind the whole thing are poorly described.
So, first things first. The headline gets us off on [...]

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A Decision is a prerequisite for success with predictive analytics

January 28, 2009

Eric Siegel is blogging in the build up to Predictive Analytics World (at which I am speaking and teaching a workshop). He posted Predictive analytics FAQ #1: Prerequisites for success.I liked his list but personally I would have added another:

Know the decision(s) you want to influence

Unless you have a decision or decisions in mind when you start it is all to easy to generate insight without any understanding of how you will make it stick – how it will make a difference. Starting with the decision in mind helps focus the analytic effort on improving that decision. If it is a strategic decision, it focuses the project on helping an executive. If it is an operational one, it means thinking about how the results could be deployed into production.

I would also add something to his point about “General understanding and buy-in of a predictive analytics initiative by stakeholders across business functions”. For many predictive analytics projects this needs to include the IT department and the folks working on BI/DW projects and all too often predictive analytics projects include neither.

Note that I am now blogging new posts here on b-eye-network.com and focusing only only BI and analytic topics. You can find my full feed on my personal blog JT on EDM. You can subscribe to the feed too – feeds2.feedburner.com/jtonedm.

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Data Mining or Predictive Analytics?

January 21, 2009

I have been wondering if “data mining” or “predictive analytics” was the more effective phrase for a while now. I noticed that KDNuggets posted some evidence that analytics is overtaking data mining but like some of the commentators I am not sure this is significant. After all, analytics gets way overused as a stand-alone word. [...]

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First Look – Mobile Agent Technologies

January 14, 2009

Mobile Agent Technologies ( www.agentos.net) is an early stage start-up offering an integrated platform for decision automation- Einstein Enterprise. This combines and integrates various technologies typically sold separately, like business rules and analytics, and is intended as a horizontal product for the automation and management of decisions.
Einstein Enterprise is Java-based and combines open source and [...]

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Great Discount for Predictive Analytics World

January 11, 2009

I am going to be speaking at Predictive Analytics World in San Francisco next month on From Predictive Analytics to Competing on Decisions on the first day. You can register for the conference here and if you use jamestpaw09 you can get a 15% discount!
I will also be giving a one day workshop after the [...]

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Making Better Business Decisions in 2009

January 7, 2009

Tom Davenport had an interesting post for 2009 – The Year Ahead: Make Better Decisions – and it prompted me to highlight a couple of things you should definitely be planning to do in 2009.

Make a list of the key decisions that drive your business
Conduct a decision audit, or hire me to, so you know [...]

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Business Rules Algorithms research from Forrester

January 7, 2009

Mike Gualtieri published a nice piece on business rules engine algorithms last July that I wanted to point out to my readers. Mike summarizes the mainstream rules engine algorithms into those that deliver inferencing at run time, those that execute…

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Predictive Analytics are important no matter what IBM thinks

December 19, 2008

Doug Henschen had a blog post on IBM today that caught my eye – Will IBM Add Analytics to its Toolbelt? in which he quoted Ambuj Goyal (who heads up information management at IBM) as saying predictive analytics are overrated. Sadly this reminded me of the old days of IBM – when FUD (fear, uncertainty [...]

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Save the Date and exciting news about the EDM Summit

December 18, 2008

The EDM Summit is going to Las Vegas, Nov 1-5, 2009
Mark Your Calendars!
The 2009 event will be bigger and better than ever. In addition to the usual focus on business rules and intelligent decisioning (chaired by yours-truly), there are going to be a Business Alignment Symposium and “How-To” Project Labs to deliver [...]

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Predictive Analytics World

December 18, 2008

I am going to be speaking at a show in San Francisco in the spring called Predictive Analytics World. I am going to speak on From Predictive Analytics to Competing on Decisions on the first day. I will also be…

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Customer Centricity Strategy #3 – Mass Customization

December 17, 2008

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…

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It’s not AI but…

December 10, 2008

Albert Wenger had an interesting post today Human Vs. Machine 2 in which he discussed the fact that some of the old AI promises may be starting to come true. While I am not sure I 100% agree with his characterization of Netflix’s recommendation engine as AI, I do see what he means.
The over promising [...]

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Fraud Detection with Oracle Data Mining

December 3, 2008

Charlie Berger and some others presented on using data mining for fraud detection. Fraud is a huge issue – for instance there is $31B annually in insurance claims fraud (10-15%) with 25% of all claims have some fraud and more than 1 in 3 bodily-injury claims from car crashes involving fraud. Other industries have similar [...]

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