by Stephanie Rabinowotz | Sep 23, 2015 | Big Data
Any time a new model of technology comes out there is a huge hype about its potential and the infinite possibilities it possesses. New is exciting, it is unknown and holds hope for our wild dreams. The heartbreaking part is when these new technologies don’t live up to our impossible expectations. Many are skeptical of the hype surrounding Big Data and it’s potential, calling the excitement a “Data Fetish”.
Big Data seemed to come out of no where and hit the ground running with promises to solve every problem and make everything easier. This is difficult because to an extent Big Data has already proven to provide insights and results that allow companies to operate more efficiently. We must be realistic though, to think that Big Data is going to swoop in and cure cancer is a bit of a stretch. So how do we remain level headed yet allow ourselves to take risks with Big Data to hopefully achieve our goals?
We must think of Big Data for what it is- a tool. It is not some super hero, it is simply a device we can use with along side human critical thinking to produce better results. Big Data is access to information, it is merely a library that continues to organize the material in ways that allow us to see patterns. Once these connections are made, it is still up to the intelligent men and women around the world to take that information and apply it is a way that will produce results.
Those who have already fallen prey to the Data Fetish can protect their investment by remembering that Big Data is merely a tool. Companies must not constantly rely on the next Big Data program to deliver them to success. Companies must invest in their employees to work with Big Data to produce a desired effect.
Protect your money and don’t fall in love with Big Data. Use Big Data to aid you in your cause, but don’t allow it to break your heart and your bank if it comes up short.
by Stephanie Rabinowotz | Sep 18, 2015 | Big Data
The industry of 3D Printing is on the rise and is only going to continue to thrive as businesses discover their need for it. Like Big Data, 3D printing will be one of those things that can infiltrate and enhance any industry. From shoe inserts to breathable, water proof casts, 3D printing has infinite possibilities. But what will we do with all of the Data produced by 3D printing? Could Big Data be your “in” with the 3D printing business? Listen to this Podcast to find out!
3D Printing and Big Data!
by Stephanie Rabinowotz | Sep 14, 2015 | Big Data
It is that time of year, Football Season! As fans gear up for a spirited Fall filled with beer, food and trash talking, others are focused on their fantasy leagues. Fantasy football has become a huge part of the football industry and continues to grow in popularity each season.
Many may wonder if there is strategy to fantasy football and if so, what is it? This really depends, some people draft based off of player stats from the previous year, professional predictions, or who is on their favored team. It is important to draft and play with a strategy in mind as most of these leagues can have a big payout.
As technology continues to advance, many sports fans are turning to draft optimizers to help them choose the best players. What are these optimizers and how do they help? These sites are homes for football Big Data, mass amounts of data about season player stats, professional predictions, injury reports, and preseason stats are all collected and analyzed to pump out predictions for a player’s success.
As discussed many time before Big Data = Information! The more informed you are about a certain player allows you to make smarter draft picks and set up a kick ass line up each week. Big Data helps people avoid drafting a star player who just suffered a season ending ACL tear earlier that week.
Big Data used in fantasy football leads to big payouts. So what are you going to do, pick all Broncos players because they are your favorite team or use the information at hand to form an unstoppable line up?
Find out more on how Big Data is changing our everyday decisions in this short article!
by Tara Buck | Sep 11, 2015 | Big Data, Business Transformation, Predictive Analytics
Big Data is making its way through every industry possible, including the hotel industry. This industry is another perfect example of how effective use of analytics can dramatically change how a business is run. There are many types of data being collected including video, audio, and web data, and there are huge volumes of each. However, many hotels are carrying all of this data with them, but not acting upon a majority, if any of it.
Many hotels gather loyalty information about their guests, but fail to take it a step forward. This, to me, is the perfect opportunity for any and all forms of predictive analytics.
Hoteliers could exploit their data and deepen their knowledge of guests in order to develop a more granular understanding of segment behavior, needs, and expectations; identify profitable customer segments and their buying preferences; and identify opportunities to attract new guests.
In this industry, understanding guest preferences, purchase behavior, and profit potential can dramatically increase brand loyalty and wallet share of their most valuable guests.
One key factor that hotels must be aware of throughout this process is what guests they are targeting. Targeting the frequent guests who are likely to take advantage of other hotel amenities would generate much more overall profit than targeting the guests that are just stopping by. By marketing to their most loyal guests preferences, hotels will find themselves staying ahead of trends, setting strategies, and achieving their goals. This will then lead to happier guests, and more money in the bank.
And look at that…all of that can be done with the right analysis of data!
by Tara Buck | Aug 26, 2015 | Big Data, Project Management, Save With Data
Many organizations today struggle to get their cards in order and turn data into dollars.
“The more data you have, the more crucial it is to better manage your master data and improve the maturity of your master data management (MDM) program,” said Saul Judah, research director at Gartner. “Existing approaches to data management are, in many cases, insufficient to accommodate big data sources on an enterprise scale. Collecting data without managing it properly also creates ongoing costs as well as regulatory and compliance risks.”
In order to save money, CIOs and Chief Data Officers who oversee big data initiatives need to consider the following steps:
Update Information Strategy and Architecture
Many organizations have had success leveraging big data insight around specific business operations, but typically it’s limited to a single business unit or use case. Few firms have explored how to make big data insights actionable across the entire organization, by linking big data sources with trusted master data.
For example, many marketing organizations use data from social sources — such as Twitter and Facebook — to inform their campaigns, but they don’t reconcile this with trusted data in customer/prospect repositories that are used by customer services or sales. This can lead to incoherent customer communication that can actually undermine the sales or customer service process.
Become More Agile
Effective use of big data requires a mixture of old and new technologies and practices. This necessitates an agile approach that applies a bimodal IT framework to information governance (see “Why Digital Business Needs Bimodal IT”). MDM traditionally uses a Mode 1 approach which is policy-driven and approval-based. Big data typically uses a Mode 2 approach with little or no predefined processes or controls. Tactical and exploratory initiatives are much better suited to the “faster” Mode 2.
Move to Limit Risk Exposure
When an organization executes actions based on information sources outside the curation of MDM — as is the case in many big data implementations — exposure to certain types of business risk increases. Factors such as poor data quality, loss of critical information, and access to unauthorized information become more likely. Gartner recommends appointing a lead information steward role in relevant business units to assist in creating and executing risk controls with regards to data use in business operations.
All of the above steps to help manage your data can quickly turn around and save or make your firm money. You have the data- now just unlock the value of it with master data management.
by Rich Benvin | Aug 26, 2015 | Big Data, Case Studies, Creating Competitive Advantage
Many companies come up with a great ideas that they know will help a particular industry, but then struggle to formulate a plan to access and acquire customers in the new market. Cliintel is comprised of experts with diverse expertise in a wide variety of fields that can be quickly leveraged by our clients to ensure their successful entry into new markets and industries.
The Client:
A leading innovator in the Radio Frequency Identification (RFID) business had been working with a diverse client base that ranged from aerospace to the medical industry. They had recently identified the retail vertical as a potential new market for their products.
The Business Issue:
The primary use of RFID technology is for inventory tracking. The client wanted to broaden their reach by using their software solution to solve issues within the retail space. They had built a solution to track the relationships of products within a store location, providing real-time data on customer behavior and interaction with the products. The problem was trying to identify a client who would be willing to “beta-test” to validate the benefits from the solution and provide references.
Cliintel’s research enabled the client to complete product development ahead of schedule and successfully enter the retail market by successfully implementing their solution in record time while simultaneously acquiring new, referenceable customers.
The Approach:
Cliintel took a broad view of the retail industry, looking for beta-test candidates with needs that aligned with the primary uses of the RFID technology and who would realize value from the innovation. The industry was examined collectively and objectively to identify specific candidates who prioritized relationship marketing performance metrics, had large supply-chains and were targeting both internal and external loss-preventions programs.
Cliintel’s research enabled the client to complete product development ahead of schedule and successfully enter the retail market by successfully implementing their solution in record time while simultaneously acquiring new, referenceable customers.
The Solution:
Cliintel presented three key retail venues that they felt would benefit most from the client’s solution. Specific requirements for the solution were identified for each venue – ranging from pure inventory tracking to relationship marketing. After quickly conducting extensive market research, Cliintel identified specific companies that needed an inventory solution and possessed the willingness to participate in the beta-test.
The Project Results:
Cliintel’s research enabled the client to complete product development ahead of schedule and successfully enter the retail market by successfully implementing their solution in record time while simultaneously acquiring new, referenceable customers.
We’re proud to help our clients solve tough problems and achieve stunning results. To see what kind of big data results Cliintel.com can deliver for you, please Call 720-200-3001.
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