Category Archives: business databases

05-Creating & constructing good solutions, 99-Applying business intelligence, business databases

Why companies should care about e-care

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This recent McKinsey Quarterly article discusses the value and savings from offering and moving customers towards online self-service. I bet some of you all share my frustration with some companies and government organizations where you legitimately cannot find a phone number to call anyone or a location to go to because the company wants you to do everything online instead of bother them with a call.

Though these are typically extreme cases, as customer service becomes more mobile driven, faster, and altogether helpful, customers grow to expect this. Some companies are pressing ahead while others are miserably behind #Comcast.

I’ve embedded the article and a SYNOPSIS and thoughts in the attachment below.

E-Care, Self-Service – modernization of customer service

99-Applying business intelligence, business databases

The Future of Business Intelligence…Literally!

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Hopefully by now we’re all well versed in the forms of business intelligence that I discussed in my first article (peers, industry publications, and databases).  Now the question remains, what do we do with the information?  I recently read an article by Tom Groenfeldt, written for Forbes.  Here’s a quick link: http://www.forbes.com/sites/tomgroenfeldt/2014/07/30/business-intelligence-bi-isnt-very-intelligent-yet

Tom cleverly points out that “in a SunGard survey of executives in the two industries, only 20 percent use proactive and investigative techniques or showed an interest in scorecards, dashboards and analytics techniques.”  In short, this means that many executives and business analysts are using previously recorded data to formulate strategies and make decisions.  He goes on to say that “only 13% of respondents utilize advanced BI techniques such as predictive analytics and alerts.”  

While this may not be a surprise in for some of us, I would have expected a higher percentage of executives to use some form of predictive analytics, especially in high tech industries.  With this said, I feel like this is a good opportunity to be a part of what could be a movement in this direction.  Clearly there will be growth in this field, and it’s likely that more companies, in a wider set of industries, could employ these tools to develop strategies.  If we can acquire these skills (or at least be able to speak the language), we certainly put ourselves on the front end of a trend that will likely have staying power.

I had a meeting with a business intelligence officer at my company today, and I was very impressed with the tools we have at hand.  However, it does seem that our company is mostly focused on managing and interpreting the bulk data that we collect regularly.  Do any of you have experience with predictive analytics and alerts?  What has your experience been?

business databases, work plans

How to nail your next job (before you even apply)

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Like many of my classmates, a significant reason for pursuing my MBA at Emory is the desire to change to a newer, better and more fulfilling job. So the title of this article by Colleen Egan was an easy grab for my eye. While it’s more like a self-help-bullet-point slideshow than an informative article (“Nurture your Network”!), it did get me to thinking about the state of my job search process. Apparently, I am well behind the times when it comes to marketing myself.

Don’t get me wrong, I do have a LinkedIn account with a slowly expanding network of connections and I even took the time to set up my profile and upload my resume. And earlier this semester, I took advantage of a mock-interview workshop through our Career Management Center. (Which I highly recommend to all of my classmates, by the way.) But that is about the extent of my self-promotion and preparation. I have never posted a comment on LinkedIn, nor have I ever commented on someone else’s posting.

The author cites “DailyWorth” (www.dailyworth.com) career coach Alexandra Levit, saying: “Do a Google search of your name once a month to see if you’re happy with what is there”. Well, I just Googled myself and came up with … nothing. (Unless you count a picture of a 1960 baseball card for the New York Yankees catcher “John Blanchard” that Professor Shanken mentioned in our first night of Finance class. I thought that was a nice “full circle” for the summer semester. But, I digress … ) The article also introduced me to something called Google+ (https://plus.google.com). Not really sure what it’s for, but I’ll do some more digging.

Haven’t opened up my Facebook in several years and have long since forgotten my Instagram and Pinterest passwords. Never “tweeted”. Long story short, my “online presence” is a ghost town. That might explain why I’ve gotten very little response from companies that I’ve applied to. If they were trying to find me online, their first impression was one of frustration.

In addition to social media, Levit also recommends “setting up a basic, but well-done website with contact information, links to your work and professional accomplishments.”

So if I’m really serious about finding that dream job, I need to stop dreaming and start promoting myself.

DailyWorth:
http://www.dailyworth.com/posts/2813-7-ways-to-prepare-for-your-next-job-before-you-even-apply

Reprinted through the Wall Street Journal’s MarketWatch website:
http://www.marketwatch.com/story/how-to-nail-your-next-job-before-you-even-apply-2014-08-02

05-Creating & constructing good solutions, 99-Applying business intelligence, business databases, evaluating evidence, library research

Iron Maiden and Data Analysis: How one Heavy-metal band used data to profit from a revenue-stealing platform

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Applying data analysis definitely isn’t always the most exciting field- certainly not as fun as seeing a heavy metal band say Iron Maiden live for instance. With the constant shrinking revenues from traditional album recordings many bands are increasingly reliant on live shows- especially older bands who’s catalog of albums can be easily downloaded in a matter of minutes at no profit to the band or label. This leads them down a road of never ending farewell tours in the same reliable but boring locations.

Enter Iron Maiden: The international super group undoubtedly has fans all over the world but has struggled with their selection of where to tour, despite being one of the most iconic acts in industry. In an innovative use of data analytics for the music industry the band now weighs illegal downloads by location to help determine demand. This has paid off huge in their recent South American tours whereas prior data say that it would have been a disaster and complete opportunity loss. Their most recent tour gained them the distinction of “One of six groups that outperformed the industry” including live documentary sales and one concert alone in Sao Palo that grossed them over $2.5 million. South American attendance and revenue also trumped their previous averages in NA and the EU too.

Hail the Iron Maiden data wonks!

http://www.rollingstone.com/music/news/iron-maiden-using-bittorrent-analytics-to-plot-tours-20131226

99-Applying business intelligence, business databases, Uncategorized

How Intelligent is Business Intelligence?

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The article below focuses on the gaps between the potential for business intelligence and its current usage. Much of the gap can be explained my management’s reluctance to change- something that we have discussed thoroughly during our first year at Emory.

According to a survey they conducted among executives only 13% utilized advanced BI techniques such as predictive analytics and alerts, and about half of the respondents fill reporting needs through manual extraction of information into spreadsheets and PDFs.

There is still a significant resilience to change among executives who believe that “if it ain’t broke, don’t fix it” so companies still use analytical tools like Tableau and Microstrategy that do the job but come with a large price tag in time and manpower.

In most cases, companies don’t need real-time information, but getting daily reports (P&L, for example), can make a significant difference in your forecasting and variance analysis capabilities.

It seems that using BI is far from being a standard across industries and that early adopters are still enjoying the first-mover benefits.

http://www.forbes.com/sites/tomgroenfeldt/2014/07/30/business-intelligence-bi-isnt-very-intelligent-yet/

99-Applying business intelligence, business databases, library research, Uncategorized

Traditional and Crowd Sourced Business Intelligence

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Going into grad school, one of my main goals was to change jobs and change industries.  Needless to say, I knew that I had a lot to learn, both in and out of the classroom.  In retrospect, I took a three-pronged approach to acquire the business intelligence that helped move me from me from point A to point B:

1) Talk to anyone and everyone who worked in the space.  I mean everyone. Through networking opportunities, I was able to land some informational interviews with industry leaders that were happy to share their experiences.  There is no substitute for the value of their insights that both informed me and reinforced my desire to be a part of the industry.  Even more valuable – and directly responsible for my eventual success – was the help of classmates that had significant experience working for food and beverage companies (you know who you are!).  Their willingness to help was undoubtedly the turning point for me, and the shared knowledge of industry dynamics and lingo was instrumental.  I truly believe gaining direct knowledge from peers and mentors is the best way to gain business intelligence.

2) Industry publications: Being familiar with the current landscape of an industry is critical in making a big transition.  So many resources are available to help deepen understanding and industry knowledge, and not just the usual suspects.  I was able to stay on top of emerging food and beverage trends by following leaders on Twitter and other social media platforms.  This awareness was integral during the interview process.  However, as Ann Cullen, on of our business librarians, was quick to point out: consider the source.  Industry publications can be motivated by all sorts of outside forces, so this must be considered.

3) The old fashioned way: research.  In my meeting with Ann, we walked through so many examples of deep resources available to us.  It’s truly amazing how much data there is out there, and it’s up to us to refine our skills on how to find it.  Luckily, our business librarians are there every step of the way to support.  In addition, she showed me several great methods to make the search easier.  My favorite trick is to narrow a google search by using “inurl,” which can search for any keyword within a specific website.  Another great tip is using the tilday symbol (~), which searches for any synonym of a key word.  Using tips like these have helped me become more efficient in my research, and the mountain of information out there seems a little less daunting.

What research tips can you share?  Do you agree with my three-pronged approach mentioned above?  Have I forgotten any good source?

05-Creating & constructing good solutions, 99-Applying business intelligence, business databases, creativity methods

Bridging the Gaps for Future Mobile BI Users

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Most of us utilize Business Intelligence software mainly on our laptops, but the world has started to drift towards the mobile trends. Many workers travel and rely on tablets or phones for presentation aides yet there are still gaps between the corporate data and these mobile devices. Below are some examples;

Culture Gaps

  • Fast Data vs. BI Reporting
  • Friendly Users
  • Post PC Diversity

Technology Gaps

  • Cloud Platforms
  • Social Interaction
  • All Encompassing Ecosystem

The 2 articles in the embedded links below, focus on the current gaps that we see today between the mobile world and business intelligence in terms of culture and technology. Hopefully in the near future we can bridge the gaps and truly rely on the cloud and other internet services to tailor to our business needs.

05-Creating & constructing good solutions, 99-Applying business intelligence, business databases, creativity methods

The ‘Right’ Strategy For Business Intelligence?

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Companies often look for templates or real world examples when it is time to bring a business intelligence system online. While they try to mimic a company similar to theirs, each organization is faced with their own respective needs and challenges. One commonality does exist in most roll outs as the strategy standard; involving end users and thinking big but starting small. This article discusses the best implementation strategy that is shared among companies.

Involving the users allows there to be early buy in from many members of the organization and it promotes the benefits immediately.  With many ideas flowing about, the implementation team is well prepared to deliver the best system. Additionally, pilot programs to test this system in are critical. Mass roll outs without the proper testing can lead to various issues and each department usually has its own pace to adopt these technologies.

Timelines allow for organized planning but its really the end user acclimating to the new system and providing feedback which will determine how long this implementation can take.  Does anyone have any other advice that may complement this over arching advice?

99-Applying business intelligence, business databases, library research

Conducting Competitive Intelligence Market Research

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As part of my MP project this semester, I am focused on learning how to conduct competitive intelligence market research and tips and tricks on how my work team and I can to do this more effectively and efficiently. On About.com, I came across a 7-step, detailed breakdown of how to conduct Market Intelligence Research. See below.

  1. Determine Your Research Objectives
    • First you must determine your primary and end goal based on audiences who will be utilizing the information
  2. Evaluate Existing CI Data Collection Strategies
  3. Determine CI Data Collection Strategies
  4. Set Up Access and Integration Systems
  5. Establish Analysis and Reporting Processes
  6. Plan Dissemination
Planning
    • Planning for getting your information to the correct audiences – for example, how often will you report?
  7. Write the Story
    • Most market research is best presented to audiences in the form of a story and to do so, your CI audiences should understand how the data was collected and be made confident of that data through corroboration processes.

These were some good tips that I have already started and will continue implementing with my team at work as we continue conducting market research.

http://marketresearch.about.com/od/market.research.techniques/ht/How-To-Conduct-Competitive-Intelligence.htm

06-Building a case, 99-Applying business intelligence, business databases, evaluating evidence, library research

Data credibility challanges impact all BI research

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The posts concerning data credibility are absolutely spot on – but their relevancy doesn’t stop with challenges around hard data.

Reading through them, the observations that jumped out:

  • repercussions if the information is inaccurate
  • need to analyze and ensure the integrity of the data
  • shifting focus on going to the actual source of the data rather than applying a Band-Aid approach to the bad data
  • Chevron’s use of a process to ensure that the right decisions are made using the right information

All of these can be applied to the entire business intelligence process, including the identification, access and analysis of secondary information, including data.  Think about data you locate in industry trade publications, in Wall Street analyst reports, even in sources of market research, such as Marketline/Datamonitor, Euromonitor, or EIU.  You can’t just take the data for granted, assume that it is correct.  You need to question, probe and understand many facets, including the originating source of the data, methodologies around the data gathering process, the accuracy, integrity and bias of the source of the data (both original and published) which includes understanding something about the intended audience and purpose/motivation for the data creation/use as well.

And like Chevron, you must have a process (remember the  discussions around the necessity for “Planning the Work” and “Working the Plan” in your fall’13 MP class and the spring’14 BI workshop).  Having these in place provides you and your team with a framework that, if applied correctly, helps ensure that you avoid using bad data, using unsubstantiated insights for your analysis and recommendations.

Last Fall in MP, Professor Noonan introduced you to a few BI frameworks, and we briefly mentioned a few more in the BI workshop.  I am attaching more detailed discussions around 4 of these frameworks (what we are calling Business Intelligence Briefs) which speak so directly to your data credibility threads.

Business Intelligence BRIEFS-4_Information Gathering Plan Business Intelligence BRIEFS-3_Four Avenues for Gathering Intelligence Business Intelligence BRIEFS-5_Owners of Information and Motivations Business Intelligence BRIEFS-2_Five Dimensions of BI