retention

Putting predictive analytics to work at Premier Bankcard

September 21, 2009

I am giving a tutorial and a presentation on putting predictive analytics to work at the forthcoming Predictive Analytics World show in Washington DC (October 20th-21st with tutorials on the 19th). I always like to illustrate my points with real examples and I am going to be talking about Premier Bankcard, a SAS client. As [...]

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5 ways to reduce cost with predictive analytics

September 17, 2009

Earlier this week I attended a local Business Intelligence SIG to hear Eric Siegel speak.  This was essentially a preview of Eric’s keynote presentation at Predictive Analytics World next month on reducing costs with predictive analytics.
Eric is giving a webinar with me as part of the Decision Management Solutions webinar series – Optimizing Business Decisions [...]

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Using busines rules in stable, core processes

September 3, 2009

Talking with SAP today I made the comment that the best place to use business rules was often in stable, core business processes because those processes don’t change, only the decision rules within them. This clearly struck a chord with @GregChase and it made me think I should write a slightly longer version of what [...]

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Predictive analytics turn uncertainty into usable probability

July 31, 2009

Syndicated from ebizQ
Following on from yesterday’s post on analytics, let’s talk about predictive analytics. Another phrase I picked up while working at FICO was this one:
Predictive analytics turn uncertainty about the future into usable probability
Again, I don’t know if the phrase originated there or was just in common usage but it always struck me as [...]

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First Look – Oracle Real-Time Decisions 3.0

June 24, 2009

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” – [...]

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Which X is likely to do Y and so what?

May 28, 2009

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 [...]

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Data is still defensible

May 13, 2009

Syndicated from BeyeNetwork
In Is Data a new defensibility? Abhishek Tiwari argues that even data is not defensible any more. He argues that data integration and the use of new sources of data are key skills but that companies cannot use unique data to differentiate because there is too much data and too much of it [...]

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Some thoughts after attending Predictive Analytics World

February 24, 2009

Syndicated from b-eye network
Last week I was at Predictive Analytics World, a brand new show on the business value of predictive analytics. The show was a great success, I think, as it attracted a decent audience in very tough times and succeeded in bringing together not just those building predictive analytic models, but also those [...]

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Predictive Modeling for E-Mail Marketing

February 20, 2009

Syndicated from Smart Data Collective
Arthur Hughes (author of Strategic Database Marketing) and Anna Lu of e-Dialog.com presented on predictive modeling for e-mail marketing. Arthur has been developing databases for database marketing for 30 years or so. Initially he focused on databases but found that people could not use them to make money and that led [...]

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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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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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Decision Management and some top CRM processes for a cost-constrained economy

January 22, 2009

A press release caught my eye recently on CRM – Gartner Identifies the Top Six CRM Marketing Processes for a Cost-Constrained Economy. Two of the six processes Gartner identified seem to me to require decision management to be done well.
1.Retention Management
Retaining high value or potential high-value customers is essential in difficult economic times. Gartner advises [...]

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In the coming recession put your customers first with decision management

November 20, 2008

I was pointed to a post today on the topic of customer service (Another Day, Another Customer-Service Nightmare on the EconoWhiner) that pointed out that companies
need to provide quality service and quality customer service if they’re going to survive an economic downturn as severe as this one?
Now I am not going to pick on AOL [...]

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On Best Buy’s success and being decision-centric

November 19, 2008

Last week I saw a post comparing Best Buy and Circuit City – one thriving and one going into bankruptcy – and it made me think about the role of decision management in Best Buy’s success. I have head Best Buy present various times an a number of elements of their successful customer-centricity strategy are [...]

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Using Decision Management for Customer Retention

November 10, 2008

CRM Daily had a nice little article on Customer Retention that reminded me of the example I often use for how the elements of decision management contribute to more effective customer retention decisions. Large organizations spend vast sums on retention – one bank, for instance, spends $1Bn annually – and retention is a perfect candidate [...]

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Using decision management to surive an IT squeeze

November 7, 2008

An old friend sent me a link to an article on the Financial Times – How to survive an IT squeeze. I was struck by a couple of quotes:
Scarcity of capital will generate increased competition for the cash that is available. Consequently it will be even more important that businesses do everything they can to [...]

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Predictive Analytics Produces Business Rules That Deliver

October 29, 2008

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 [...]

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Evidence-based (decision-centric) CRM Processes

October 22, 2008

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 [...]

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Thoughts from Chordiant’s Customer Advisory Board

October 6, 2008

Last week I was invited to attend Chordiant‘s European Customer Advisory Board. This session was held in lovely Munich in the middle of Oktoberfest and was both informative and a lot of fun. While I can’t share everything – some of it was for customers only – I thought you would appreciate what I could [...]

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Making decisions about loyalty programs

September 16, 2008

1:1 had a nice piece on the growing role of loyalty programs in retail. This noted the “Growing sophistication in loyalty programs” among retailers and, in particular, the use of loyalty program data not just to calculate lifetime customer value but also to build competitive advantage. This second aspect is the one I always find [...]

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