Measuring the Business Impacts of Effective Data — University of Texas at Austin study

Posted by analytics on September 15, 2010  |   No Comments »

Sybase, recently acquired by SAP in May of 2010, just released in conjunction with the University of Texas a study on the use of data in 150 Fortune 1000 firms. Ecrmguide.com has quite a nice review of the report.

A couple of intriguing quotes from this report.-

“The significance of this research is that to the best of our knowledge it is the first study that has quantified the relationship between improvements in data and key performance metrics of businesses today. Most studies focusing on the benefits of data quality report the percentage of firms that have seen a specific type of benefit after investing in data improvement1. They tell us neither the magnitude of the effect on performance nor what it takes to improve the attributes of data.
While large-scale investments in Information Technology have certainly helped improve basic data access and quality, our findings suggest that there is still room for major performance gains through additional investments in better data.”

Payoffs of effective data strategy:

  • Productivity of employees
  • Return on Equity (ROI)
  • Return on Invested Capital (ROIC)
  • Return on Assets (ROA)

We can’t agree more. A must read.

Download the pdf here.

Data Driven Detroit

Posted by analytics on September 7, 2010  |   No Comments »

Detroit AnalyticsData Driven Detroit is an organization which shows the power of analytics at the community level. Its director, Kurt Metzger, seems to be a staunch advocate of sharing as much data as possible to harness a true “enterprise” look at what is going on. As Detroit goes under its post industrial transformation the details from the data prove to be interesting.

From the website-

In 2008, The Skillman Foundation and The Kresge Foundation awarded City Connect Detroit a $ 1.85 M planning and implementation grant to incubate Data Driven Detroit (originally named the Detroit-Area Community Information System). The charge for the newly-formed agency was to become a nonprofit, independent data center that would promote positive community change by:

  1. Tracking neighborhood-level social, economic and environmental indicators for the local initiatives of key foundations;
  2. Creating greater community access to and utilization of community data and information; and
  3. Building a community data warehouse of comprehensive, reliable, relevant information relating to social, economic and environmental indicators.

Effective Cross-sell and Up-sell

Posted by analytics on August 17, 2010  |   No Comments »

Bill H. over at Sell It On The Web has written a great guide on the principles and practices of Cross-selling and Up-selling. The article is geared toward e-commerce but the old tried and true methods from brick-and-mortar days are alive and well here. Bill says:

“Cross-selling refers to the practice of promoting complimentary items related to the item being sold while up-selling is the practice of offering customers an upgraded or premium version of a product.  These techniques are pretty simple concepts to understand and can provide lots of value to your customers, enhancing their shopping experience while increasing your site’s sales volume.  It’s a win, win.  If used incorrectly, however, they can damage your credibility and sabotage your marketing efforts.”

Cross-selling can certainly help you acquire more sales but it can also have a huge affect on your marketing budget. Due to the immediacy of online e-commerce perhaps this statement refers more to a brick-and-mortar or direct marketing campaign- basically referring to the fact it’s 5-7 times more expensive to acquire a new customer than to sell to an existing customer. With some research, some demographic data, and predictive analytics it is possible to cut back marketing budgets dramatically and maintain and/or increase revenue.

A great article.

Balkan’s Leader Summit 2010

Posted by analytics on August 5, 2010  |   No Comments »

Ergenomics is helping to facilitate and sponsor the Balkan’s Leader Summit 2010 this coming September 22 at the Waldorf Astoria Hotel. More details can be found at the Federation of Balkan Americans website. Please contact us if you are interested in attending. More about the event:

FEBA is organizing two events; Balkan Leaders’ Summit 2010 “Making Europe Whole: Completing the Balkans’ Euro-Atlantic Integration” and US Business Forum: Turkey and the Balkans, being held on September 22 in New York at the Waldorf Astoria Hotel.

We’d like to invite American companies to attend to our events which will be a bridge between America, the Balkans and Turkey. We greatly appreciate if you could let us know how you could be helpful to bring American companies this event. We prefer decision makers, C level representatives, who could benefit from these events by meeting the Presidents, Prime ministers, Minister of Economies and major Turkish and Balkan Business Leaders.

The details of events are as follows (Minor details are subject to change):

Balkan Leaders’ Summit 2010
“Making Europe Whole: Completing the Balkans’ Euro-Atlantic Integration”
Waldorf Astoria Hotel, New York
September 22, Wednesday – 6 pm

Program

Reception, Jade &Astor Rooms – 6 pm – 7 pm
Dinner, Grand Ball Room – 7 pm
Keynote Address by Barack Hussein Obama, President of the United States
Keynote Address by Abdullah GĂŒl, President of Turkey, Confirmed
Remarks by Heads of Balkan States
Concert by Balkan Chamber Orchestra
***
US Business Forum 2010: Turkey & the Balkans
“Connecting Business Leaders”
Waldorf Astoria Hotel, Jade & Astor Rooms New York
September 22, Wednesday – 1 pm – 5:30 pm

Program
Panel I – Investment
Panel II – Energy
Panel III – Infrastructure & Development
Bilateral Business Meetings

Mission of the Balkan Leaders’ Summit: Through the Annual Balkan Leaders’ Summit, the Federation of Balkan American Associations hopes to achieve its mission of sharing the Balkan’s heritage of tolerance and understanding with the world leaders, Presidents, Prime Ministers, Foreign Affairs Ministers, as well as business and religious leaders, journalists, artists, scholars, and professionals covering a spectrum of fields. The purpose of this program is to help in creating common goals and ideals in the Balkans. When we take into consideration the ethnic, religious and linguistic differences in the region, we can say that what we need is to create common goals and ideals. Cooperation and good-neighborly relations will be the guarantee of a compromise in the Balkans.

Mission of the U.S. Business Forum: In a time where the idea of Euro-Atlantic integration in the Balkans has transitioned from a mere political aspiration to a means en route to be realized, and where the future of Trans-Atlantic relations relies heavily on relations with Turkey and Balkans, the FEBA Business Council sees this forum as a crucial mechanism to discuss issues affecting business, trade, and investment within the framework of a stable, fully integrated, and economically fruitful Balkan region. By bringing together business leaders, professionals, and foreign heads of states, along with their breakthrough ideas and experiences, in a day-long forum called “U.S. Business Forum 2010: Turkey & the Balkans”, the FEBA Business Council hopes to widen the gateway of investment and trade between the regions in this exciting period of transition and growth.

Speakers & Panels: Speakers will include government officials, globally renowned senior executives, intellectuals, and business leaders from each respective area speaking about issues critical to renewed and expanded business efforts. This unique framework will widen the gateway of investment and business the U.S., Turkey, & the Balkans.

Key Focus Areas: Investment Opportunities, Energy, IT & Telecommunications, Infrastructure & Development, Tourism, Food & Retail Industries, Banking, Agriculture, Finance, and Venture Capital initiatives, Textile, Furniture, and Machinery

Bilateral Business Meetings: Bilateral business meetings are designed for all of our participating companies to develop concrete synergies and enter directly into business propositioning.

Some of the Distinguished Invitees of Balkan Leaders’ Summit 2010 and US Business Forum: Turkey & the Balkans Include:

  • H.E. Bamir Topi, President of Albania
  • H.E. Sali Berisha, Prime Minister of Albania
  • H.E. Yves Leterme, Prime Minister of Belgium
  • H.E. Haris Silajdzic, President of the Presidency of Bosnia and Herzegovina
  • H.E. Georgi Parvanov, President of Bulgaria
  • H.E. Boyko Borissov, Prime Minister of Bulgaria
  • H.E. Ivo Josipovic, President of Croatia
  • H.E. Jadranka Kosor, Prime Minister of Croatia
  • H.E. Karolos Papoulias, President of Greece
  • H.E. George A. Papandreu, Prime Minister of Greece
  • H.E. Fatmir Sejdiu, President of Kosovo
  • H.E. Hashim Thaci, Prime Minister of Kosovo
  • H.E. Gjorgje Ivanov, President of Macedonia
  • H.E. Nikola Gruevski, Prime Minister of Macedonia
  • H.E. Filip Vujanović, President of Montenegro
  • H.E. Milo Djukanovic, Prime Minister of Montenegro
  • H.E. Traian Băsescu, President of Romania
  • H.E. Emil Boc, Prime Minister of Romania
  • H.E. Boris Tadic, President of Serbia
  • H.E. Mirko Cvetkovic, Prime Minister of Serbia
  • H.E. Abdullah GĂŒl, President of Turkey
  • H.E. Recep Tayyip Erdoğan, Prime Minister of Turkey
  • H.E. Barack Hussein Obama, President of the United States of America
  • H.E. Ilir Meta, Minister of Foreign Affairs of Albania
  • Steven Vanackere, Minister of Foreign Affairs of Belgium
  • H.E. Sven Alkalaj, Minister of Foreign Affairs of Bosnia and Herzegovina
  • H.E. Nikolay Mladenov, Minister of Foreign Affairs of Bulgaria
  • H.E. Gordan Jandrokovic, Minister of Foreign Affairs of Croatia
  • H.E. Skender Hyseni, Minister of Foreign Affairs of Kosovo
  • H.E. Antonio Milosovski, Minister of Foreign Affairs of Macedonia
  • H.E. Milan Roćen, Minister of Foreign Affairs of Montenegro
  • H.E. Teodor Baconschi, Minister of Foreign Affairs of Romania
  • H.E. Vuk Jeremic, Minister of Foreign Affairs of Serbia
  • H.E. Ahmet Davutoğlu, Minister of Foreign Affairs of Turkey
  • H.E. Hillary Rodham Clinton, Secretary of State of the United States of America
  • H.E. Catherine Ashton, Vice President of the European Commission
  • H.E. Ekmeleddin İhsanoğlu, Secretary General of the OIC

Among Our Esteemed Attendees and Speakers of the 2009 Annual Balkan Leaders’ Reception were:

  • H.E. Ahmet Davutoğlu, Minister of Foreign Affairs of Turkey
  • H.E. Haris Silajdzic, Member of the Presidency of Bosnia and Herzegovina
  • H.E. Stjepan Mesic, President of Croatia
  • H.E. Fatmir Sejdiu, President of Kosovo
  • H.E. Ilir Meta, Minister of Foreign Affairs of the Republic of Albania
  • H.E. Sven Alkalaj, Minister of Foreign Affairs of Bosnia and Herzegovina
  • H.E. Gordan Jandrokovic, Minister of Foreign Affairs of Croatia
  • H.E. Skender Hyseni, Minister of Foreign Affairs of Kosovo
  • H.E. Milan Rocen, Minister of Foreign Affairs of Montenegro
  • H.E. Milen Lyutskanov, Deputy Minister of Foreign Affairs of Bulgaria
  • H.E. Ambassador Anastassis Mitsialis, Permanent Representative of Greece to the UN
  • H.E. Ekmeleddin Ihsanoğlu, Secretary General of the OIC

About the Federation of Balkan American Associations:

Founded by a group of Balkan Americans whose goal and mission was to promote the Balkan Cultures and Languages in an effort to strengthen the cultural and educational ties between the people of the United States and the Balkans. Federation of Balkan American Associations organizes educational and cultural activities such as Annual Balkan Leaders Reception, International Conferences, Lectures and Seminars, Workshops, Balkan Film Festival, Balkan Food and Culture Festival, Sports Tournaments, Youth Nights, Art Exhibits, Concerts, Movie Screening, Business Network Receptions, Trips to the Balkans, After School Programs, Learning Center, Language Courses, and informational programs about the Balkans and Balkan Culture throughout placing special emphasis on dialogue, and peace.

About the Federation of Balkan American Associations Business Council:

The FEBA Business council was founded by a group of businessmen and professionals to create a positive business environment to foster job development and promote business growth for the Balkan American Community as well as to facilitate commerce and investment between the US and the Balkans. FEBA Business Council advocates for positive business relations, sponsors educational seminars and networking events, markets our member companies and encourages global business.

Using Analytics to Achieve High Performance – Harvard Business Review

Posted by analytics on August 4, 2010  |   No Comments »

Earlier this summer our partner Accenture had an article in the The Harvard Business Review about the importance of Analytics for businesses that want to have a competitive advantage. This article, in conjunction with Tom Davenport’s new book Analytics at Work: Smarter Decisions, Better Results which is referenced in the article, is showing the growing interest and popularity of analytics in the workplace. The Davenport book is a must read for any business executive in today’s world. If not, your competition will, and have the ability to make precise and razor sharp decisions to compete .

How business analytics help drive competitive advantage

Originally published in The Harvard Business Review, June 2010

Download the full article: Using Analytics to Achieve High Performance [PDF, 664KB]

Companies are operating in a sea of their own data. Many are just treading water, but some companies are swimming toward new forms of competitive advantage by using business analytics. Click to read entire article.

Four Analytics Roadblocks

Posted by analytics on July 20, 2010  |   No Comments »

Is your company ready for Analytics? This is one of the first questions we ask a potential client. We have found organizational silos and credibility are among the major barriers for us to be engaged with a customer. Often there is a lengthy education needed in addition to all the reports, books, and chatter in the WSJ about the importance of analytics.

The following analytics roadblocks were sited in the white paper Capitalizing on Customer Analytics from 1to1 Media, a division of Peppers and Rogers Group.

Four Analytics Roadblocks

  1. Organizational Silos: Silos of conflicting responsibilities, and lack of accountability as a result
  2. Credibility: The ability to gain credibility for analytics’ return on investment (ROI) measurements, especially for the softer benefits
  3. Data Quality: Data cleanliness and accuracy, including the ability to integrate customer data from multiple silos
  4. The Right Data: Having and leveraging the right data for high-value activities like understanding potential wallet size or determining future value

ADAPA Predictive Analytics Scoring Engine

Posted by analytics on July 8, 2010  |   No Comments »

Zementis’ ADAPA Scoring Engine is one of the best examples that demonstrates the power and revolutionary nature of cloud computing and Software as a Service (SaaS). The ADAPA Scoring Engine allows us to compute massive amounts of data like never before. What once took days now takes minutes.

From the youtube video – ADAPAÂź enables you to succeed with Predictive Analytics. It is a stand alone scoring engine that reads PMML descriptions of models and scores huge streams of data. ADAPAÂź is the first standards-based real-time scoring engine for Predictive Analytics Models, and, its available, now, as a fully hosted Software-as-a Service (SaaS) solution on the Amazon Elastic Compute Cloud. For more information, visit us at www.zementis.com.

Value of Analytics Beyond the Day to Day

Posted by analytics on July 2, 2010  |   No Comments »

One of the most common places we hear about analytics is in the area of Google Analytics and the tracking of website page views and click-through rates. As a first foray into the world of Analytics, Google offers an extremely robust system to track the data on your website. It’s free and relatively easy to navigate your way around. However, like all things Analytics, there is tremendous power in what one does with the data, how it is analyzed and how it is used to predict.

Search Engine Land is a tremendous blog and site for all things about Search Engine Optimization (SEO) and Search Engine Marketing (SEM). In this article Christoper Wallace raises the question and challenge to what you can do with the Analytics you are pulling off your website. There is more to just seeing the improvement and growth of your website, or lack thereof. Business leaders can use this information to identify and segment their users and customers but even assist in coming up with Business Units that can help in endeavors like rebranding and marketing.

Reframing Health to Embrace Design of our Own Well-being

Posted by analytics on June 24, 2010  |   No Comments »

There is no question healthcare in the United States is undergoing a paradigm shift. Many of the headlines have been on the financial impacts within the insurance industry, with doctors and with patients. There is also a trend evolving focusing on lifestyle changes, self-management, and what could be called preventative medicine. This very insightful article from Interactions magazines examines what this will mean for not only the Doctor – Patient relationship, but the individual “patients” themselves.

The paradigm shift is moving away from looking at the doctor/patient relationship as a subordinate parent/child relationship and looking at the doctor as more of a consultant and coach where the “patient” is taking responsibility for their own health. In this process and leap to responsibility, an individual will be able to monitor and collect data through the use of interactive dashboards and social media, data that can be used to enable and forecast current health conditions and, if necessary, make adjustments for a healthier lifestyle.

Click here for full article.

IBM buys Coremetrics to boost analytics

Posted by analytics on June 22, 2010  |   No Comments »

From DMNews, IBM has purchased Coremestrics to assist its customer particularly in Web analytics. Of particular interest in this article is the following quote:

IBM noted that companies are looking for ways to optimize marketing processes and get better insights into client demands when it announced the acquisition. The Armonk, NY-based company noted that its studies have shown more than eight in 10 CEOs want to get closer to customers and understand them better.

  • Subscribe to our newsletter.





  • Our Recent Partners