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Business Intelligence Needs ?
What do you really need to manage your Business easier ?
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BIG DATA insight from Time Is Life

Big Data can be a lot like spring cleaning. You can come across a lot of “stuff” you don’t really need, but you still have to dig into it.

 

So where do you start?

 

If there’s one thing that we know about Big Data-it’s that Big Data looms “big” when it comes to determining just how you’re going to cut into it to get something of value for your business. The task can seem formidable, and it’s now causing serious heartburn for many C-level executives and middle managers.

 

Big Data can be a lot like spring cleaning. You can come across a lot of “stuff” you don’t really need, but you still have to dig into it.

So where do you start?

 

Finding business intelligence in Big Data depends on identifying strong key performance indicators (KPIs) that deliver high value to the business. For instance, if you’re running a supply chain and are wondering which new vendors are likely to deliver on time and with quality, you won’t find that data in your internal database (since the vendors are new), but you can find it on an Internet-based network shared with other companies that already have a history with that vendor.

 

Here you can “mine” vendor on-time shipment data and you can go even further if you troll social media channels that can tell you something about this vendor’s quality of work.

 

This combination of structured and unstructured data is immediately useful to purchasing and manufacturing-but it can be equally useful to marketing (which wants to reduce time to market risks from bad vendor performance), to customer service (which doesn’t want followup warranty repairs) and to finance (which doesn’t want any risk).

 

The points here are twofold:

 

Big Data that answers critical business questions only “happens” when silos of data are broken down and mined–and the resulting data is combined into a composite answer to a key business performance indicator.

 

To return to our example about on-time, quality vendors:

 

Data silos were crossed when the data was mined from both external supply chain networks and social media.

 

Initially, the company made the mistake of thinking that only purchasing and manufacturing would find this data useful-but when it thought a little more about the total key performance indicator built around vendor performance and its implications, the company also realized that the vendor information could tell marketing whether there could be risks to a major sales promotion if certain vendor were used; could tell customer service whether warranty followups based upon poor quality would be likely; and could tell finance what overall vendor risk levels were.

 

As a result, when this Big Data was leveraged across the entire organization, organizational silos were broken down, and everyone shared in the benefit of the Big Data. Of course, the payoff of the Big Data was so much greater to the business.

 

All of this is important, because many enterprises today still remain fragmented in their use of information. Finance uses finance systems and marketing uses marketing systems. But Big Data investments only pay off “big” when everyone can exploit the data. This can require changes in organizational thinking on who “owns” and “can use” certain data.

 

How can companies assure that their organizations “keep up” with the Big Data that they mine?


Appoint someone as an overall “champion” or focal point for Big Data initiatives. This person should be tasked with getting different areas within the company to collaborate on Big Data KPIs and use.

 

Never start a Big Data initiative without total top management support-from technology investments to recalibration of the organization for collaborative information sharing to collective definition of the key performance indicators that Big Data will be expected to provide answers to.

jerome larose's insight:

Jerome Larose,Data Scientist for Time Is Life

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how to succeed in a big data project ?

how to succeed in a big data project ? | Business Intelligence Needs ? | Scoop.it
jerome larose's insight:

Keep it fast and simple. 

 

Data worldwide is growing 40 percent per year, a rate of growth that is daunting for any marketing and sales leader. Companies need to invest in an automated “algorithmic marketing,” an approach that allows for the processing of vast amounts of data through a “self-learning” process to create better and more relevant interactions with consumers.

 

That can include predictive statistics, machine learning, and natural language mining. These systems can track key words automatically, for example, and make updates every 15 seconds based on changing search terms used, ad costs, or customer behavior.

 

It can make price changes on the fly across thousands of products based on customer preference, price comparisons, inventory, and predictive analysis.

 

One bank in Latin America transformed itself from a little-known player into an institution that was ranked 11th in market capitalization worldwide in part through algorithmic marketing. It captured ATM interactions and fed next-product-to-buy algorithms to call centers, which service operators could use to make suitable offers during the customer’s next interaction.

 

That level of personal interaction highlights another critical point, which is that automation doesn’t mean people go away. Advanced analytics need to serve front-line staff – whether that’s a customer service operator or a sales rep in the field.

 

To succeed companies need to shield the front line from the vast analytical complexity and deliver simple guidelines and recommended actions. One cargo airline, for example, developed a complex model that analyzed the frequently changing dynamics of the cargo industry and negotiating strategies based on supply and demand.

 

What it delivered to its sales staff, however, was a simple “dashboard” with simple guidelines on flight capacity, corresponding pricing as well as competitor options. The result was a 20 percent boost in share of wallet.

This goldmine of data is a pivot-point moment for marketing and sales leaders.

 

Those who are able to drive above-market growth, though, are the ones who can effectively mine that gold.

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Top Big Data Use Cases Explained | The Big Data Hub

Top Big Data Use Cases Explained | The Big Data Hub | Business Intelligence Needs ? | Scoop.it
Wikibon analysts talked with IBM's Eric Sall about the top 5 big data use cases.
jerome larose's insight:

Jerome Larose, Data Scientist, Time Is Life

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jerome larose's curator insight, June 27, 2013 6:23 AM

A good tip to have a better understanding of Big Data

Jerome Larose, Data Scientist, Time Is Life

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Twitter buys big-data analyzer Lucky Sort

Twitter buys big-data analyzer Lucky Sort | Business Intelligence Needs ? | Scoop.it
Twitter has acquired Lucky Sort, a data analytics company, in a move that could give the social network deeper insights into its users' tweets and how to best place advertisements on its site.
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Twitter's got it. What about you ?

Jerome Larose,Wealth and Learning Creator

Time Is Life

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Front Office Product Manager, Fixed Income Credit, Risk and P&L - Here Is The City

Front Office Product Manager, Fixed Income Credit, Risk and P&L
Here Is The City
Senior Project Manager required with a strong understanding of Risk and P&L within Fixed Income Credit Derivative products.
jerome larose's insight:

This kind of profile is very compatible with the System Time Is Life 

Jérôme Larose

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Scoop from Time Is Life

New York (January 09, 2013, 4:19 PM ET) --

 

A California federal judge on Tuesday ordered Google Inc. to produce internal documents in order to expedite a putative class action filed by a Texas man who alleges the search giant illegally uses data from emails sent to Gmail addresses.

 

U.S. Magistrate Judge Paul S. Grewal partially granted a motion filed by Keith Dunbar, who claims Google analyzes content in emails received by Gmail users from non-Gmail users without either party's consent. Judge Grewal ordered Google to produce documents describing how Google algorithms analyze the keywords...

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jerome larose's curator insight, January 16, 2013 2:58 AM

The mystery is about to be solved ...

 

Jerome Larose, Data Scientist for Time Is Life

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Create Pivot or crosstab data from flat table – Consumer price index ...

Create Pivot or crosstab data from flat table – Consumer price index ... | Business Intelligence Needs ? | Scoop.it
In the previous section we built a simple dashboard using the CPI data. In this part, we will use some pivot SQL queries to facilitate comparison of multiple categories on the same chart. The charts require the data to be in certain format.
jerome larose's insight:

Usefull tip ;-)

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The KPI Cloud Daily : Time is Life

The KPI Cloud Daily : Time is Life | Business Intelligence Needs ? | Scoop.it
The KPI Cloud Daily, by KPI Cloud Technology : updated automatically with a curated selection of articles, blog posts, videos and photos. (The KPI Cloud Daily is out!
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Data Mining and Machine Learning in Astronomy "Another Word For It"

Data Mining and Machine Learning in Astronomy #topicmaps #datamining #astroinformatics #ml - http://t.co/KKMJN9li...
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What It Takes For A Startup To Succeed - Business Insider

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A great idea and hard work are obviously essential for startups. Even more important? Timing. We recently spoke to Roman Stanek, the founder and CEO of GoodData, who previously sold NetBeans to Sun Microsystems in ...
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Maximize Your Personal ROI: Apply Business Skills to Personal Life - Business 2 Community

Maximize Your Personal ROI: Apply Business Skills to Personal Life - Business 2 Community | Business Intelligence Needs ? | Scoop.it
Maximize Your Personal ROI: Apply Business Skills to Personal LifeBusiness 2 Community“We all know that leadership — whether you are the CEO, or the manager, or the mom — is about the ability to influence the thoughts, emotions, and actions of...
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Nouveau Blog Time Is Life

Nouveau Blog Time Is Life | Business Intelligence Needs ? | Scoop.it

Notre valeur : vous en apportez pour mieux décider

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Découvrez les conseils du mois de nos experts Microsoft BI , pleins d'astuces sur les nouveautés SQL SERVER 2014. 

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jerome larose's curator insight, September 28, 2014 11:16 AM

Découvrez les conseils de nos experts Time Is Life sur Microsoft BI 

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Strike Social Analyzes The Performance Of Your YouTube Videos For Free - TechCrunch

Strike Social Analyzes The Performance Of Your YouTube Videos For Free - TechCrunch | Business Intelligence Needs ? | Scoop.it
Strike Social Analyzes The Performance Of Your YouTube Videos For Free TechCrunch Executive Leadership / Marketing / Business Development / P&L Management / Strategic Vision / Enhanced Market Presence / Team Empowerment / Industry-leading...
jerome larose's insight:

It can be usefull if you want to follow a social media video metric.

Jerome Larose, Data Scientist , Time Is Life

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Tata Steel to book $1.6 bn impairment charge on Europe weakness

Tata Steel to book $1.6 bn impairment charge on Europe weakness | Business Intelligence Needs ? | Scoop.it
The impairment will amplify buzz related to a possible sell-off of some European operations by Tata Steel
jerome larose's insight:

Could you forecast this ? Risk analysis is our specialty, think about it.

Jerome Larose, Wealth and Learning Creator

Time is Life

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Larose Jérome | LinkedIn

View Larose Jérome's professional profile on LinkedIn. LinkedIn is the world's largest business network, helping professionals like Larose Jérome discover inside connections to recommended job candidates, industry experts, and business partners.
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CONCOURS OPEN DATA SNCF | Time Is Life

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jerome larose's curator insight, February 4, 2013 3:38 AM

Un marathon de gestion de qualité de données ...

Jérôme Larose, Data Scientist pour Time Is Life

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ROI Business Solutions Provides Wealth Management and Tax Preparation ...

ROI Business Solutions Provides Wealth Management and Tax Preparation ... | Business Intelligence Needs ? | Scoop.it


Lead generation company, ROI, announces the launch of a new target industry for pay-per-lead generation services: wealth and asset management.

jerome larose's insight:

Interesting use of Business Intelligence to forecast tax in the wealth management industry...

Jerome Larose, Data Scientist for Time Is Life

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What's the ROI of Being Attentive to Your Customers

What's the ROI of Being Attentive to Your Customers | Business Intelligence Needs ? | Scoop.it
It's one thing to simply set up a Facebook Page for your business, but it's another to actively engage customers in conversation.
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Good analysis !

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Tips on mining Big Data in a small business environment | Time is Life by TechRepublic

Tips on mining Big Data in a small business environment | Time is Life by TechRepublic | Business Intelligence Needs ? | Scoop.it
Here are factors and tools to consider when mining Big Data for small business intelligence.
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Morgan & Claypool Publishers - Synthesis Lectures on Data Mining and Knowledge Discovery - 2(1):1 - Abstract

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Personal Data Mining - Smart Data Collective

Personal Data Mining - Smart Data Collective | Business Intelligence Needs ? | Scoop.it
Personal Data MiningSmart Data CollectiveI then had to somehow transform the entries to a suitable format - a .csv file- which could then be used by Data Mining Software (such as R and WEKA) for analysis.
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