Syndicated from Smart Data Collective Andreas Weigend, former amazon.com Chief Scientist, gave a keynote on the unrealized power of data. He started with a historical perspective. In the 70s perhaps 10M used computers, mostly in the back office. By the 80s this had reached 100M and the front office. By the 90s the internet and [...]
Customer Experience
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 [...]
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 [...]
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 [...]
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 [...]
Gerhard Hausmann presented on Barmenia and their use of business rules to improve customer experience. Barmenia is a private health / life insurance company in Germany with more than 2M contracts and 1.5Bn Euros in premiums. Been in business since 1904 and still have contracts that date back to the last century. In Germany there [...]
Frank DiGiovanni of Group RCI (a vacation exchange and vacation rental company, part of Wyndham Worldwide) presented on their journey – a legacy modernization using ILOG Rules. Frank identified SOA, legacy migration from mainframe to SOA and how business rules complements these as his key topics. Group RCI’s core problem was threefold: Members: had to [...]
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. [...]
Elana Anderson, now at Unica, wrote a nice piece titled Where CRM Goes Next for Baseline Magazine. In a short piece she highlights some of the key challenges for CRM/Marketing going foward: It must become more focused on interactive marketing, engaging with customers It must break free from old habits like fixed campaign schedules and [...]
Great post by Elana Anderson – What Will Campaign Management Be Like In 2020? « NxtERA Marketing Blog. I have long believed that improved campaign management, like improved customer experience and improved marketing, requires a greater focus on customer treatment decisions. I have blogged before about the role of decision management in campaign management (in [...]
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…
Continuing my responses to John Schmidt’s post on Customer Centricity with a discussion of Process Integration. John describes this as focusing on cross-channel integration using Enterprise Service Bus/SOA technologies to bring data to the point of interaction. Decision management, of…
John Schmidt over on the Informatica blog had a great post on Customer Centricity that gave me a theme for three posts this week. He identified three approaches, each one of which I want to map to decision management. First…
I worked with Kinney Zalesne back when I was speaking about decision management on the Silverlink product tour (I blogged about it here). She and Mark Penn have just started a new column in the WSJ called Microtrends (the same name as their book – Microtrends: The Small Forces Behind Tomorrow’s Big Changes – which [...]
Tobin Gilman of Oracle presented on Oracle’s BI Strategy. Oracle views Enterprise Performance Management and Business Intelligence as coming together over time and has a single strategy. They see ERP and CRM as having enabling operational efficiencies by driving a process-centric view across silos. Clearly BPM has completed this transition. Yet management processes – reporting, [...]
Interesting article on how the NHL used the power of personalization and targeting (or extreme personalization) to improve results. It does not talk about how they do this but clearly they have made things like the front cover choice for their catalog and key elements of their web presence decisions so they can make them [...]
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 [...]
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 [...]
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 [...]
