With a mountain of transactional data, streaming feeds of real-time market data, and an influx of third party information available, the financial services sector has long been ripe with opportunity for insight. While the advanced analytical techniques in use are the most visible aspect of generating insight, activities to organize, access, cleanse, and govern data are absolutely critical in developing an underpinning of valuable data. Companies these days, particularly in the financial services sector, are responding with their wallets. When it comes to spending, technology leaders need to make sure the infrastructure is robust and scalable, the environment and the data are secure and reliable, and the users are armed with the tools and applications required for their jobs. With those pieces in place, organizations typically then turn to analytics as a way to move from automation to optimization. Essentially, the tremendous amount of data created from these modern IT environments contains nuggets of wisdom that can be extracted with the right tools, and more importantly, the right data-driven mindset.Read More
When a simple Google Search on “How to get started with Master Data Management” gives you 13,600,000 hits, it’s not surprising if you're not sure how to approach MDM. Whether you’re considering if your business needs to adopt a MDM solution, if you already have decided that it does but you don’t know where to start, or if you already have some MDM capabilities implemented but feel that they need to be updated, these three initial steps – created by MDM expert John Radcliffe and originally presented in this webinar – will help you get started.
Everybody is talking about it but only a few are actually doing it. We are of course talking about creating that personalized customer experience that turns prospects into customers and customers into brand advocates. How do you do that? And what exactly is a ‘good’ and ‘personalized’ customer experience?Read More
What you should know about data modelingRead More
Some time ago the kids were searching for Dragon Ball figures on my iPad. Even if they hadn’t told me, I would have found out because of the ad retargeting. This happens when marketers mix up the device or account and the user.
The same thing happens when I order something for my mother. After that, I’m aging rapidly in the eyes of the marketers. I wish they knew me a bit better. I would avoid all the irrelevant ads and offers, and the company would attain a much more successful cross selling.Read More
Any organization wanting to be the next market game changer has to put innovation on the top of their agenda. Top leaders know that innovation is a way of thinking, not just a project, and therefore CIOs are tasked by the CEO to have a flexible and trusted infrastructure that supports innovation. According to Gartner’s Pace Layered Application Strategy: “(...)competing goals often lead to strategic misalignment”. A key concept to succeed is to have “Business and application organizations collaborating on innovations, ideation and experimentation”1.Read More
A sound analytical strategy encourages activity and embraces a self-service methodology but also provides guidance and oversight from those close to the data. This governance will be instrumental in preventing data quality issues, superfluous analyses and misguided decisions. Enter master data management (MDM). The technologies and processes underlying a typical MDM strategy not only provide oversight and access control, but also enable companies to track the origin and lineage of data to ensure safety and consistency in the decision process.Read More
In 2007, ConAgra Foods Inc., the makers of Peter Pan peanut butter, found itself in the middle of a nightmarish recall. A salmonella outbreak had infected 700 people nationwide in 39 different states, sending 20% of those to hospitals for advanced treatment. At the root of the issue was tainted peanut butter produced at a plant in Georgia. The facility had several food safety issues: an old peanut roaster was not uniformly heating, a previously damaged sugar silo had openings that allowed entry to birds and insects, and a leaky roof was adding unwanted moisture to the production process. ConAgra ended up forking out close to $300 million in fines and restitution.Read More