Once you have identified decisions that could usefully be improved by predictive analytics you must develop predictive analytic models for each decision. Each decision is going to require a different predictive analytic model, perhaps several. Some predictive analytic models, such as predicting the future value of a customer for instance, may be useful in multiple [...]
analytic model
I got an update from SAP on their Predictive Analytics products. Back in December I got a briefing on the Windows client (that went GA in November 2012) and the SAP HANA (SAP’s in-memory database) libraries related to it. SAP, like me, is seeing a lot of demand for predictive analytics with existing clients needing [...]
I am giving a webinar with Predixion Software on The Power of Embedded Predictive Analytics, September 5th at 2pm Eastern. This is being given in conjunction with the Product Development and Management Association but is open to anyone. Enterprise Software is an intensely competitive business and products that don’t stay ahead in the race to add [...]
Continuing to expand on the questions I asked Andrea Scarso co-founder and COO of MoneyFarm when I interviewed him I wanted to focus on the question “How, specifically, do you develop requirements for analytic projects?” “In my opinion, it is paramount to start from the single and specific decision needed. Then, with a top-down process, to analyze its component elements: hard data, [...]
One of the questions I asked Andrea Scarso co-founder and COO of MoneyFarm when I interviewed him was “In your experience what are some of the top challenges for analytic professionals in terms of maximizing the business impact of what they do?” In this post I’ll take a couple of his comments and expand on them [...]
I recently caught up with Andrea Scarso, co-founder and COO of MoneyFarm. MoneyFarm is a startup whose target is to modernize and democratize the European panorama of retail investment services, leveraging the opportunities offered by the web and by process automation. Andrea designed the main decisioning processes. What’s your background, how did you come to be working in analytics? [...]
As part of our ongoing series on Marketing Decision Management solutions, I got an update from [24]7 recently. Based in Campbell, [24]7 was founded back in 2001 and is focused on helping companies deliver an intuitive customer experience. Still privately held, they were originally focused on managing contact centers, but for several years their primary [...]
The third and final post in my series on the impact of Big Data on Decision Management Systems: The impact of Velocity. As more data arrives more quickly we have to deal with velocity in two ways – we have to decide more quickly and we have to deal with data “in motion” – streaming [...]
The second in my series on the impact of Big Data on Decision Management Systems: The impact of Variety. Big Data involves adding more types of data, from more sources inside and outside of the organization, to your analytic toolkit. Social, mobile, local and cloud data sources are exploding and organization must find ways to [...]
Big Data is often described in terms of an increase in volume, an increase in velocity and an increase in variety: More data, of more types, arriving more quickly. In this short series of blog posts I will discuss the impact of each aspect of Big Data on Decision Management Systems – systems designed to [...]
UPDATED 2/19/2015 for SAS® Decision Manager v 2.2 reflecting ongoing integration of capabilities into the core product as well as new features (in italics). SAS has announced its new Decision Management product – SAS® Decision Manager – back in 2013 and it is now in version 2.2. Over recent years SAS sees an increasing focus [...]
A solution-focused session next with Marcus Hearne talking about analytic marketing solutions. Marketing remains focused on its traditional imperatives – how to focus on customers to maximize the value of each interaction, how to measure effectiveness, what marketing mix to use etc. However the new empowered, social consumer is putting pressure on marketing as people [...]
My old friend David Raab just published a new white paper The Customer Data Platform: A new foundation for customer management (download for free with registration from ReachForce). In this paper David reiterates the power of marketing automation with some great stats on how much better companies that apply marketing automation perform when it comes to [...]
Earlier this week I posted on the value of decision requirements modeling in analytic projects when it comes to coping with some of the analytic skills shortages people face. But this is not the only reason to focus on decision requirements if you are focused on predictive analytics and data mining. In fact decision requirements modeling [...]
As part of our series on Marketing Decision Management Solutions, I got an update on SAS Real-time Decision Manager. SAS Real-time Decision Manager is a complete solution that delivers decision capabilities around customer intelligence for marketing and I was last updated on it back in 2010. The solution provides a unified capability for making customer [...]
It’s been over a year since I last got updated on Zementis (their 3.5 release of ADAPA and PMML Universal Plug-in). Since then they have been busy adding support for new platforms and signing new partnerships. Most recently they have announced a strategic alliance between Zementis and FICO, something Zementis sees as a big win for [...]
I am speaking with Dean Abbott at the TDWI Executive Summit in San Diego, August 20th at 4:15pm on Ten Best Practices in Operational Analytics One of the most powerful ways to apply advanced analytics is by putting it to work in operational systems. Using analytics to improve the way every transaction, every customer, and every website visitor [...]
In-memory databases and in-memory analytics are interesting technologies when it comes to Decision Management Systems. Memory is thousands of times faster than disk and the amount of memory on a node is increasing rapidly. Putting data is put in memory and executing analytics against it, especially if the analytics engine has plenty of memory too, can [...]
As part of the ongoing blog series on Marketing Decision Management Solutions I got an update from SAP on Real-Time Offer Management. This is based on an acquisition made at the end of 2006 of a real time recommendation technology developed for the CRM market, with early adoption mainly by the competitive service industries – [...]
As part of our ongoing series on Marketing Decision Management solutions I recently got a briefing on some of IBM’s Marketing Solutions – specifically IBM Real-time Interaction Management. IBM’s Real-time Interaction Management offering is part of IBM’s Enterprise Marketing Management suite. This has been a real focus area for IBM in the last few years with [...]
