How analytics is re-defining Financial Planning & Analysis

Today’s Chief Financial Officers (CFOs) find themselves under increasing pressure to execute Financial Planning and Analysis (FP&A) processes faster in order to discover insights that would augment the company’s future results. Many finance departments find themselves tasked with faster closing times, real-time consolidation and elimination of manual tasks, in the interest of overall business agility. While financial planning is essentially the process of drawing up a budget based on expenses and

Behavioral rank in lead scoring helps get not more but quality leads

At the start of the year, many analysts had predicted that 2016 would see lead scoring - the process of identifying and grading a prospective customer’s intent - come of age. This group bet on the increasing reliance on behavior score in the overall lead scoring business. Such type of recording involves the use of two sets of data, each offering its own insights. The demographic count, a child of the

Marketers: Shed desktop mindset, Mobile is THE tool of customer acquisition

Earlier this week, PayPal’s Director of Mobile Commerce Rob Harper told the audience at a retail conference that choosing not to put mobile strategy as top priority was exercising the choice to 'ignore' customer needs. Rob had hit the nail on its head. Explaining the dichotomy that a modern-day retailer faced, while speaking at the Retail Business Technology Expo, Rob claimed that despite high mobile traffic, many retailers were amazingly still

Is combining Marketing Mix Modeling with Attribution Modeling the way forward?

For decades, traditional marketers faced a challenge while allotting their marketing budgets among various marketing channels. Today, with the advent of digital modes of communication such as television and the Internet, as well as computing devices of all kind, that job’s got even more taxing. “Effective allocation” is the keyword here. Modern-day marketers have to distribute their marketing budgets between these “channels” in a way to maximize the return on investment

Why Adaptive Personalization is getting critical for business

Way back in 2010, one of the conclusions of the IBM ‘Global CEO Study’ was the acknowledgement by 88% of CEOs that their priority was to get their businesses closer to customers in the next five years. Yet here we are, at the start of 2016, and it would not be an exaggeration to state that many global businesses are still far from achieving this target. Many companies still find themselves

Does your business use emotion-based customer segmentation?

A November article published in the Harvard Business Review (HBR) citing fresh research tries to initiate renewed debate on the importance of customer emotions in a marketing eco-system. It calls for enterprises to pursue emotional connections as a science, and a strategy. Co-authored by Scott Magids and Alan Zorfas of consumer intelligence firm Motista, and Daniel Leemon of CEB, a best-practice insight and technology company, the article says it is possible

The many benefits of customer segmentation

This is the last in the series of the ‘Operationalizing Data Analytics’ blog posts but certainly not the least important. Readers may recall an earlier post in this series called, ‘How To Build A Customer Profile Base’. Today’s post is the next logical step ahead - segmenting your customers. So getting straight to the point – what does segmenting mean and why and how should businesses do it? In any business,

Understanding business rules and Rules Engine

A few posts earlier, I had spoken of operationalizing data analytics and some of its crucial components. While I have already touched upon how to build a customer database and how to draw up a prospects list, today, I shall be talking about the crucial ingredients that go into the making a Business Rules Engine. Every business that has decided to use advanced analytics to further its cause will, at some

Drawing up a prospects list for your business

In my previous blog post, we learned how to build a customer profile database, and the challenges while doing so. Taking off from there, today, I shall explain how to go about making a prospects list. Definition: A prospects list is a place very much like a catalogue of those people or companies most likely to benefit from the products or services offered by you or your company. In fact, the

How to build a customer profile database

As I had promised in my previous post, I start off today's post by explaining how an Enterprise can operationalize analytics. The biggest challenge before any Enterprise, be it a B2B or B2C company, is – getting to know the customer. Build a customer interactions database. This is the first of the six important steps in operationalizing analytics for any company, and often one where many falter. But before you go

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