It takes a lot of effort from diverse teams across the organization to get $4M revenue into the system but it just takes one Sales Manager to lose the same amount of money! CEB recently reported that a failed Sales Manager would cost the company $4M. (CEB Sales & Service Data). As a trickle effect, this could reduce productivity, take a toll on customer experience, impact team engagement and not to mention questioning the ROI on salary, training and recruiting fees.
Now, this is at a single sales person level. If these numbers are looked at from an organization wide level, the multiplier effect kicks in. A sales team failure hits the organization at all the levels and the failure percolates and impacts every single employee in the organization.
The Right Fit – Success Factors for a Career in Analytics
Varun is an ambitious architecture graduate who yearns to work in a multi-dimensional business environment. Even though he chose architecture as a major he was open to other career opportunities that might present themselves in the employment market. Varun talked to his friends and professors who mentioned that Data Scientists are in high demand right now and knowing his skills they felt that it might be a good fit for him. Now Varun wondered, “how can I as an architecture major, even consider a career in analytics? What skills would I need in order to even be considered and how can I acquire them?” Varun is one of the many trying to make a switch to this highly rewarding career in Data Science.
Avoiding Brand Dispersion in the digital age: A Marketing Personalization Approach
Brands, no matter how big or small they may be, a common concern they all share is maximizing their campaign effectiveness. For the sake of illustration, imagine a Mercedes Benz Ad targeting a female aged 22-27, will it be effective in any sense? No Brainstorming please, No is the obvious answer. Not only is this targeting futile, it also invokes a negative perception in the targeted individual which can lead to brand dispersion among similar prospective targets in the future. Making sure this ineffectiveness Rests In Peace is a prime focus for Brands.
“Education is most powerful weapon which you can use to change the world” – Nelson Mandela
War, Weapon, Pain, Death, Attack, Mishap – These words would turn up if I do a word cloud of what I read in the newspaper. But before a few days, I read a completely different article which put a smile on my face. Kottayam, one of the fourteen districts of Kerala celebrated its silver jubilee of achieving 100% literacy rate. In the world, where one among the four is not able to read, particular district in a developing countrywas able to stand out and put a triple digit figure against its name before twenty five years.
Retailers use analytics platforms and solutions to leverage customer insights. Analytics sheds light on customer behaviour and tendencies by extracting metrics such as frequency of purchase, the average amount spent in transactions, conversion rate, the amount spent on specific product types, etc.
Can Open Access Journals transform Market Research?
Open Access is research for all
Open Access was developed as a movement in the academic research to free-up knowledge and it has been adopted over the Internet.
Open access means unrestricted access to resources and sharing them with peers in the context of academic research. A large number of scholars are adopting this practice mainly by publishing on the Internet which reduced the publishing and circulation costs.
How data can improve profits and C-Sat for the car rental business
Earlier fleet management used to be a static process, companies were largely in the dark as to the location of their vehicles and mostly depended on the data which is manually entered by the vehicle operator. Now with the advancement in technology, vehicles are fitted with GPS navigation system and integrated vehicle telematics- to capture and transmit data about the location and status of the vehicle in real time. In addition to the navigation data; car rental companies have access to their customers’ call centre data. Successfully harnessing the data and implementing analytics can help companies solve the perennial issue of demand supply mismatch.
Whenever we talk of recruitment and job hunting, the recruiters have this perennial grudge of not being able to find suitable candidates, while on the other hand, job seekers complain of job search taking months and seldom getting them their dream job.
So if we think about it, do we truly believe this is a problem of scarcity – both of jobs as well as good candidates? Can it not simply be problem of matching the right job with the right candidate and matching the right candidate for the right job? If this is more a problem of matching the right job with the right people, then the solution would involve knowing about what kind of people are out there and what kind of work they want and aspire for. We would then see how best we can tailor the jobs available to suit the people’s aspiration. For exploring a possible solution to this, let us explore some of the key concepts in Marketing and also see if Data Analytics can help us in this endeavor.
People before Profits – Customer Satisfaction is everything
Undertaking a survey is not a simple job as it requires a lot of experience with the design of Survey questionnaires and execution. And it does not end there; the raw data gets shape only after the meticulous process of analyzing survey results. The nuances of survey questionnaire design, execution and survey data analysis differ from industry to industry.
Marketing Effectiveness for a Retail Giant – A Primer
Target, Walmart and more recently Amazon – are all r/e-tail giants that have made analytics one of the key ingredients, if not the backbone of their operations as they expand into hitherto uncharted customer segments, geographical territories and business models. So what does that mean for you as a retail giant stepping your toes into the murky data lake with promises of doubloons at the bottom?
Customer Centricity lessons from the Pretty Woman movie
In the era of big data, hospitality industries understand that managing customer experience at every touch point, from the bellhop to front desk to room to checkout is of paramount importance. It’s not about the room and the bed. It’s about the experience and, as the porter recognizes, making people feel special at every touch point.
Seven Things I Learnt from the First 90 Days of my Job
The initial months in any organization can be daunting – especially, a young analytics firm growing exponentially. Bridgei2i was about 5xz0+ employee strong at the time I joined, and doubled within 6 months. I did not completely appreciate the phrase ‘drinking from a fire hose’ till I actually landed here. I am no management expert, but here is an humble attempt to articulate some learnings that have helped me hit the ground running in a rapidly expanding organization. Hope you find them helpful…
Supply Chain & Logistics, Optimization and Analytics have been birds of the same feather flocking together since the beginning of time. However, while data had been generated at every link of the Supply Chain for decades, it is only recently that we have acquired the tools and the inclination to religiously record this data with a view to use it to generate insights and improve decision-making accuracy, speed and simplicity.
During my school days, I remember one of my teachers saying “Science is everywhere.” Today we probably relate more with “Analytics is everywhere.” Sports is no exception. In the past decade, there has been a major drive for sports to become data-driven. On one side, there are sports like Baseball and Tennis ; highly impacted by Data Analytics, while on the other hand there are sports like Cycling which are still to adopt a data driven approach (Read my previous blog on Opportunities of Data Analytics in Cycling). The potential for sports analytics is undoubtedly tremendous.
Interview – Prithvijit Roy CEO and Co-founder at BRIDGEi2i (Analytics India Magazine)
Prithvijit Roy speaks with Analytics India Magazine on the Bridgei2i, the emerging trends and everything else analytics. http://analyticsindiamag.com/interview-prithvijit-roy-ceo-and-co-founder-at-bridgei2i/ About BRIDGEi2i: BRIDGEi2i provides…
Why Open Source is Important to Analytics Industry
Open source has successfully penetrated into many of the commercial companies. Many industries have released libraries and tools in open source that have reduced development effort. Analytics industry has also benefited from open source software. One example of such a use is its reliance on the statistical package R, which is a GNU project and a free software, originally intended at helping the academic community.
While there are many users of open source in the industry, have there been cases of commercial companies engaging in open source? In fact, the biggest technology companies have been some of the biggest contributors to the open source software. The projects that have grown very huge – Apache, Chrome etc. – are all developed by software developers working in different companies. The process of re-inventing the wheel is eliminated to a greater extent when open source becomes the norm.
Even though using open source doesn’t necessarily mean contributions have to be made to the free software community, many companies have attracted talent using the open source contributions. The open source software implies that a large amount of programmers and developers are provided with the access to the source code. The time spent on creating open source software has not affected the productivity of these companies. It has in fact helped the employees gain domain expertise through collaboration.
The Poisson Pill – Just what if we can go beyond the “What ifs”?
This blog discusses the applications of Monte-Carlo simulation methods by modeling real-world situations, explaining those using well known and often researched statistical distributions such as the Poisson distribution and then applying optimization models to solve a variety of business problems thus enabling managers to take decisions by moving beyond the usual methods and what-if scenario analysis.
It’s been an extremely interesting experience trying to do whatever it takes to stimulate the adoption of analytics by enterprises. Typically, service providers dangle the carrot of a POC or a “proof of concept”. Here, the service provider will endeavour to show a microcosm of the ultimate solution in the hope that the client organization can see “analytics at work” and gladly hop on to the bandwagon. To be sure, this route is very useful for the client to make a swift evaluation of the service provider’s approach, methodology and ability to deliver.
How can our marketing collateral pass through the customer’s noise cancelling head-phones
On a normal day, we visit lot of websites. It can be professional, personal or recreational purposes. And one thing that has been common across websites for years has been the advertisements. We see them everywhere. On top, left, right and bottom of the page. Though on a usual day, even though we notice advertisements everywhere, most of the times, we never think twice about the content.
Metrics that Matter – The Key to Perfect Dashboards
“Above all else show the data,” quoted visualization guru, Edward Tufte, way back in 1983. While Tufte might have been referring purely to visualization, we can extrapolate his concern very easily to the metrics we use to “show the data” as well. Defining the right metrics beforehand that help dashboards users derive truly actionable insights from the data, is a slippery slope unless you have prepared beforehand and bring the right gear with you. Tableau, a company that produces interactive data visualization products and leader in the 2014 Magic Quadrant for Business Intelligence, included ‘choosing metrics that matter’ as the first tenant in its whitepaper on 5 Best Practices for Creating Effective Dashboards.
Infographic: India – The Hotbed of Analytics Talent
According to multiple reports, India is making strides as a preferred destination for analytics compared to other Asian countries like the Philippines and China, primarily due its talented workforce. A report by Jigsaw Academy and Analytics India Magazine suggests that India’s analytics talent pool is seeing growing demand because owing to their process expertise and English language proficiency (Source: Economic Times).
This INFOGRAPHIC will show you how India is poised to become the hotbed of cutting edge analytics talent.
With wearable technology, learning more about yourself has not only become high tech but also real time. From devices and apps that help you track heart rate and food consumption patterns to gadgets that monitor your mood and even surrounding air quality.
Customer Intelligence Lessons from the "50 First Dates" Movie
Because we have Big Data now, we have countless gigabytes of information about when customers shop, what they buy and what they look at. However that is not the solution to the Ritz’s problem or to your understanding of your customers. Why? Because big data doesn’t give us a sense of who those customers really are, as people. The data does not tell us that one customer likes to have long, drawn out conversations about their cat while another just wants to get some information and “exit stage left.”
How Analytics is Influencing Player and Game Performance
We all know that analytics is playing a very big role in making correct decisions by taking data into consideration. Now in this blog, I want to discuss how analytics is playing a role in sports. Analytics in sports is divided into three broad areas. They are: Analytics in player and game performance, Business Analytics in sports, Player health and injury analytics
Over the past decade or so, I have been fortunate to be a part of some intense employee performance evaluation discussions. It was fascinating to watch supervisors’ lock horns with each other in gladiatorial like contests to grab the biggest slices for their employees. At the same time, enormous effort and time was being expended to make the discussion as wide ranging as possible and to bring in the inputs of a large number of stakeholders and ultimately aim for a process that would be as objective as possible. Now this was a lofty aim because by its very nature, performance evaluation is always subjective.
Consumerization of Analytics – In the Pursuit of Happiness
The Pursuit of Happyness is a 2006 American film about Chris Garner’s struggle, very beautifully portrayed on screen by Will Smith and a cherubic Jaden Smith. As much as I was moved by the movie itself, what has stayed with me the most, is the title. The pursuit of happiness- very succinctly summarizes in 4 words, the objective of all human endeavour.
I want to now focus on four activities that have been enriched significantly by consumerization of data and analytics , and have therefore added enormous value to the common man’s effort to have a more enjoyable life.
The market is up, the work that needs to be done is huge, and the talent pool that the analytics industry demands is vast. It is clear that if humanity has seen, it has only been by standing on the shoulders of giants – heroes, who have single-handedly catapulted our species into the future. With the democratization of analytics that technology has brought in the recent decades, our contention is that each and every one of us can and must now be a hero.
A few years ago, with the rise of social media, many organisations thought that social media was the Holy Grail in marketing. Social media would solve all the problems and customers would be at the centre of each organisation. While social media has enabled easier, better and faster customers interactions and provided organisations more information about their customers, it has not resulted in truly customer-centric organisations. For that, one important aspect is missing: the capability of combining and analyzing all data that is created during those interactions and correlate to the data present within the organisation. In today’s competitive environment, customer centricity is not aspirational – it is essential. In such a dynamic marketplace, only customer centric businesses can thrive.
A Global Intelligence Alliance survey of market intelligence professionals spread across 880 companies revealed that MI teams have seen budget cuts equivalent to 1 resource almost every year since 2011. MI teams are fighting an endless battle to keep MI reports ‘intelligent,’ to defend their ‘raison d’être’ within organizations in an increasingly cost sensitive environment.
If you are remotely related to market intelligence or competitive intelligence (MI/CI), I am sure you would have read plenty of literature around the social media, BI/visualization, and data analytics trends. In this blog, I want to talk about how each of these trends could make an incremental yet lasting impact on every aspect of MI/CI activities – social media -> information gathering, data analytics -> analysis, and BI/visualization -> delivery.
Sometimes, organizations look at analytics companies like as if we were snake oil salesmen. The fault, I think is mostly ours. We position analytics as this all powerful elixir that can obliterate business challenges of all types and intensity.
We spend significant amount of time sharing our thoughts and experiences by interacting with people. Be it about our organizations or about our opinion on upcoming elections or even about a new mobile phone we recently bought, we all love to share our experiences. A lot of these interactions are happening over voice, email, chat, blogs, surveys, social media and they all are pervasive and rich in content.
This BLOGOGRAPHIC created by BRIDGEi2i’s Survey Analytics team throws light on how text analytics can be leveraged to get important insights from the vast amount of content that is generated everyday.
Social Customer Intelligence Trends – BRIDGEi2i Infographic
With all the buzz around “big data,” there is huge focus on data generated by human behavior in social networks, blogs, chat rooms, comment fields, and more. Using this vast amount of rich information, organizations get a better understanding of customers by converting this information into actionable insights.
Social media data can also be an indicator of efficiency of marketing campaigns and new product introductions. Organizations are now actively “listening” to customer reactions and therein lies an opportunity to identify drivers for delivering better customer experience. Social analytics is a methodology that is gaining significant momentum in the are of customer intelligence. In this infographic we aim to highlight some of the key trends in social customer intelligence.
For a variety of reasons, FTEs or “Full Time Employees” have been the primary currency of managed services contracts, especially those that are outsourced. Chief among them is the direct comparison of the wage arbitrage and the straightforward transition of processes, as-is. In these situations, it’s always most convenient to take a cue from the existing headcount and staff it with a similar FTE count, post transition. This also gives comfort to the client that he is getting a similar workforce to support his process by the vendor.
How Enterprises Should Manage Fragile Customer Relationships
The information that has been captured about customers must be carefully organized, sifted, and then squeezed to separate the juice – the nectar of Customer Intelligence. This is a magic potion that will point in the right direction on where on which customers to shower our love and affection in order to eventually get the best reward.
In addition to the best customer selection, data driven customer intelligence enables Personalization of a very high order. The collected and organized data informs the marketer to make very customized and contextual contact with high value customers and enable the positioning of the offering as a perfect fit in the natural order of things. This takes away the pushy “selling” aspect and it is replaced by the whiff of partnership and collaboration.
Pinkathons to Special interest rates to Happy Hours for Women dot the market space today. This isn’t surprising, given that women today have better access to education opportunities, career choices and contribute to about 65% of global spending.
HBR, very aptly summarizes saying, “As a market, women represent a bigger opportunity than China and India combined”. Businesses that spend time and resources to woo this segment are sure to win the long term loyalty game.
So here’s a snap shot of the emerging super power customer segment – Women! We scan this customer segment across India, Asia and the US in terms of the top searched items to areas where women exert their decision making influence to sources they consult before making that big purchase.
Business Transformation: How Big Data Analytics Helps
In today’s digital age, big data and analytics are of paramount importance in driving business transformation. As data continues to evolve in terms of type and velocity, big data initiatives will become all the more challenging. In this scenario, early adoption of advanced analytics solutions will help enterprises derive more accurate recommendations and thereby stay ahead of the competition.
Punch above your weight with data-driven Supply Chain Leadership
It was an interesting conversation on Supply Chain fundamentals when somebody asked who can afford not to bother about their SCM at all. My thoughts suddenly turned to a savoury vendor in Chennai, who used to sell these awesome small onion samosas. The shop used to be near my wife’s house and those were our “authorized with permission” courtship days. Since I was very fond of them, my to-be father-in-law would always procure some of these delightful triangles in anticipation of my visits.
Big Data can bring big changes in Education Sector
Today the teaching pedagogy has changed dramatically. With advances in technology, our classrooms are virtual, knowledge is on the cloud and students are widely dispersed. The education market space has moved up the value chain by adopting latest innovations. However, this industry is still plagued with the problem of improving outcome (i.e. quality of graduating students) and reducing dropout rates. Institutions are keen to glean a better understanding of what affects student performance and behavior so as to attract better talent, improve graduation rates and reduce churn. The solution to all these problems lies in implementing analytics and move towards data driven decision making.
Measuring Marketing effectiveness for Brick & Mortar Stores
Don’t believe those who tell you brick-and-mortar retail is dead. Despite the huge popularity of e-commerce, brick-and-mortar stores are here to stay. Physical store locations act as showrooms for your products, while e-commerce allows consumers to research all their options in a convenient format. But this doesn’t mean e-tail and retail should be at odds. In fact, they rely on each other for survival.
SaaS Applications vs. Services – How enterprises are finding middle ground with custom Sales Analytics Solutions
The need for Analytics in Sales function has resulted in the growth of the overall market for predictive analytics applications. At present, there are dozens of Sales Analytics solutions available in the market. The providers of these analytics solutions vary from organizations that are solving individual problems such as opportunity scoring, pipeline forecasting to many others that are solving two or more problems together.
An Ounce of Loyalty is Worth a Pound of Cleverness!
The world is moving towards quantification of customers, quantifying every aspect of customer experience however great success stories still stems from the fact how your customers feel about your product. We can easily define customer loyalty as a metric of success, but sometimes it makes more sense to think of it as a feeling. At a 2011 business conference, Jason Sadler, founder of iwearyourshirt.com and a highly creative marketer related an anecdote about how Best Buy had helped him find the right flat-screen television. (Now the example might be a little dated but I think most of us can relate to Sadler as his experience holds importance now than ever before).
In the previous blog, we had touched upon “How Analytics is influencing player and game performance”. In this blog, we aim to elaborate on the business-oriented applications of Analytics in sports. Some of the main applications from business point of view are: 1. Analytics for ticket pricing, 2. Fan Analytics- Fan engagement and sentiment analysis and 3. Social Media Analytics. Let’s look at how analytics is playing a part in all these applications and how some of the franchises are cashing in.
We’ve just wrapped up another eventful season of the annual phenomenon that is the Indian Premier League. Records were broken, trophies and caps won, and careers and fortunes made in a span of 6 high-octane weeks. Fans, being the lifeblood of any successful sporting event, were given extra-special attention this time around. The millions of tweets that social-media savvy fans across India tweeted during the tournament formed a veritable growing corpus of social content that was used through the IPL to engage fans as well as gauge sentiment.
Whatever said and done, the concept of supply chain is simple; if you have something more, then it means that you are having something that you really don’t want more for yourself. At the same time, if you have doesn’t have something enough then it means you are slowly killing yourself!
Customer Satisfaction Surveys: Time to shift gears?
Over the past decade, we have witnessed many firms realigning their businesses to focus on customer centricity. Firms have opened up new communication channels and are reaching out to customers via their preferred channels – with right offers at the right time.
Can firms leverage customer satisfaction information to predict future revenues? Can they tell with confidence that an X percent increase in customer satisfaction can boost firm’s revenues by Y percent? What would be the return on Investment (Bottom line growth) on customer satisfaction improvement efforts? How will the Life time value of the customer and cost per customer acquisition change?
Extracting Data from Webpages in Java with help of HtmlUnit
While it is amply clear that enormous data is created on the internet, there is no standard structure being followed in webpages, each one has its own structure so getting data into our application is always a herculean task.
Secondly, while working on market intelligence projects, supplementing predictive analytics models and/or segmentation models with secondary research data on competitor’s market share offers a significant client impact.
But as we all know, secondary research involves sifting and collating data across competitors and across multiple webpages and presenting information in an analysis-ready form. Given that data is stored in thousands of webpages a manual copy-paste effort wouldn’t be a prudent investment of time. So to get the data, we have to dynamically iterate and extract data from those webpages.
What’s on the Analytics Menu for the Restaurant Business?
The restaurant business has since grown tremendously with the increase in demand for ethnic food, rise in population, globalization, and advances in technology. In 2016, the restaurant market in the US is expected to reach more than $782 billion. The market has sure come a long way considering the fact that it was worth 42.8 billion in 1970. Restaurant business owners have started deploying analytics to improve operational decisions and extract savings.
Enterprises Need to Get Past Buzzwords to Gain Value from Analytics – Part 1
Raise your hands if your company is busy waxing on about the buzzword – heavy coverage on data analysis. Don’t just read along, just keep your hands raised! Okay, now keep it raised if your company is adept in deciphering the science of analysis – the transformation of data into useful information through analysis. Now keep it raised if your company has sustained impact from analytics and taken strategic decisions through data?
So, a long time ago, when I was a kid, I asked my dad, “What is the best way to make money?” I expected an answer in the lines of “Become a Politician or an Actor or an Entrepreneur”. But what he told me was completely different and it still stays in my mind. He told me, “The best way to make money is to save money!”
How to Leverage Digital Data to Manage Customer Experience in Hospitality Industry
Customer experience is one of the most significant factor in hospitality that differentiates one from the rest.
It does not matter whether one is travelling on a business trip or a leisure trip with family and friends, they always expect to have the best class experience during their trip. Earlier, managing customer experience was easy as they tracked only bookings data and reviews from travellers in a feedback form while checking out to improve their performance.
Before the era of supermarkets hit our country, the ration of the house would come in from the neighbourhood mom-n-pop store right around the corner. Our grandparents would hand us a ten rupee note and send us off to buy a pack of biscuits, or milk, or sometimes detergent from the same shop day after day. After a few days, the shopkeeper would know you by name, and many times drop in a free candy especially for you.
Didn’t that feel nice? When was the last time, the lady at the cashier in Big Bazaar told your child “So, you scored an A on that test? Here! Take a free candy!”
4 ways Analytics as managed service can move the needle on your supply chain process
What is the most commonly used Supply Chain tool? Welcome to the harsh reality. It is still Microsoft Excel. Most of the enterprise has found their way out, but still most of the small case industries are stuck with the data and just with the data without insights or impact. Now, in this blog, let us discuss about the 4 places where analytics as a managed services can play a huge role in a better supply chain process where the conventional methods will not be off great help.
Zero Moment of Truth (ZMOT) – Winning Women Shoppers
The moment I reached out for my smartphone was a game-changing moment, as marketing pundits would say. It is this moment that makes consumers (a major chunk being women) smart, confident and satisfied shoppers (Like me!). This moment of information enables consumers to make choices that decide the success or failure of any brand today.
Social Data and The New Age of Customer Intelligence
So much has happened in the social space since then and much has been said about the growth of social media — its multiple channels and the enormous scope of its content and subject matter. Social media seems to offer something for everyone. With the proliferation of mobile devices, social media is available everywhere and its impact is immediate. What began as an innocuous technology trend only a few short years ago has become a powerful instrument of social change.
In business, social media is now a powerful marketing tool that is pushing boundaries with new uses and new users with each passing day. It can be deployed to share news from a corporate event on a near real-time basis, or create a buzz about a great new product within minutes of its launch. Or it can be used to share the details of an unpleasant experience with customer service just as fast.
Effective Targeting – making sense in a today’s landscape, through analytics
When we look at targeting, it is a combination of the target segment, the medium and the timing of that are of paramount importance. Missing out important details and failing to connect the dots through these vital elements may lead us to a situation as legendary as such as predicting S&P returns from Butter Production in Bangladesh!
Open Sesame: Making Sense of the Open Data Revolution
Like the Arab Spring of 2010 and multiple other movements, there is a silent revolution underway in the form of “Open Data Movement” which is creating a lot of data and revealing insights that are changing the way in which we are living.
Of late, a lot is being said of data scientists – a bunch of folks who have a unique ability to rip data apart and extract sensible information out of it. Rightly so – almost every time, they come up with insights that transform businesses. They look at social media data and tell you what you must do to make your product launch successful, they look at customer data and tell you personalized actions to take to retain customers or have them spend more, they look at your supply chain data and tell you where you can cut costs without cutting corners. It is really quite awesome. But is it all really science?
With all the buzz going around about Big Data and Analytics, you might think Analytics is just an escoteric buzzword used only by CXOs to improve their revenues or manage their costs. THINK AGAIN!
Analytics is much more that. Imagine a day, any day. 24 hours. What do you think can Analytics accomplish in 24 hours? From a game of golf in the morning, dropping off children to school, a quick visit to the bank, planning the anniversary gift or thinking about retirement, each day could have myriad problems and decisions for each of us.
How Analytics Can Enhance Supply Chain Performance
In this blog, I am going to discuss how analytics is playing a crucial role in enhancing the performance of supply chain.To set the context, I will highlight the “three major problems” being faced by supply chain executives and later explain how analytics is helping them solve these problems.
How Analytics can Define the Future of Education Industry
Education continues to play an important role in any country’s overall growth. The education market has become more challenging due to the rapid growth and evolution in the modes of imparting education; schools, colleges, private tuition, online education courses, distance education, test preparations, professional trainings etc. This blog outlines the role of analytics in shaping the future of the education industry
The opening line of Charles Dickens’ “The Tale of Two Cities” said:
“It was the best of times, it was the worst of times, it was the age of wisdom, it was the age of foolishness, it was the epoch of belief, it was the epoch of incredulity, it was the season of Light, it was the season of Darkness, it was the spring of hope, it was the winter of despair, we had everything before us, we had nothing before us, we were all going direct to Heaven, we were all going direct the other way – in short, the period was so far like the present period, that some of its noisiest authorities insisted on its being received, for good or for evil, in the superlative degree of comparison only.”
Does this reflect what we see around us today in the Big Data/Analytics/Data Science cloud?
With a strategic shift towards knowledge driven businesses over the last decade, India has seen a huge surge in women opting for a career in analytics. We are also witnessing a steady rise in the number of women rising to leadership positions in analytics roles. With evolution in societal norms and a mindset change driven by forward-thinking organizations, women today are making a global impact both as employees and entrepreneurs.
Yes, retail is a trillion dollar industry worldwide. Yes, your consumers will continue to buy as you cater to their every need, want and desire ranging from camping supplies to handcrafted jewelry to custom-made shoes. Then why do slumps occur in shopping patterns and consumer behavior? What determines how a customer perceives your brand and how do you know for sure? It is a widely acknowledged fact that retail is one of the sectors most influenced by seasonality factors; but surely there must be a way to track and strategize retail business in a way that elevates the lull periods. Now, with the exploration of data and its magical powers, various sectors have adopted data analytics as an integral component of their planning and decision-making process. So, how can the retail industry benefit from the use of data analytics?
According to eMarketer’s forecasts, worldwide business-to-consumer (B2C) ecommerce sales were expected to increase by 20.1% in 2014 to reach $1.500 trillion. The rapidly expanding online and mobile user bases in emerging markets, increases in mcommerce sales, advancing shipping and payment options, and the push into new international markets by major brands are going to be the key factors behind the continued growth. (Source: Emarketer)
As per Wikipedia “A simple definition of analytics is the science of analysis… Business managers may choose to make decisions based on past experiences or rules of thumb, or there might be other qualitative aspects to decision making”.
A look into the history of business analytics shows its roots back to 5000 BC or may be much before that.
Representing BRIDGEi2i at the Startup India event hosted by Prime Minister Narendra Modi, CEO Prithvijit Roy observed that the Indian Startup scene is no more about capitalizing on emerging trends, but also about solving key problems in the market through the use of data, technology, and process engineering. The intersection of these three key areas presents a huge opportunity for Indian analytics companies to demonstrate value.
An Assault on Resource Scarcity – Analytics is a force multiplier
EARTH HOUR is a fascinating spectacle. It is quite astonishing to see such a powerful symbol showing synchronization of intent on such a massive scale to conserve what’s left of our beloved planet. The sight of entire cities or even countries shutting down inspires breath-taking awe. It’s about time too. Above all else, the overarching narrative of our time has been the realization that our planet is running out of almost all of life-sustaining resources.
Your friend has an awesome pair of boots that you wish you had. But the product in the site she bought from is sold out. What do you do? Where do you get the same pair of boots? Are there anyone else selling the same pair of boots? Are there better ones out there? But, before that, how do you even find similar pair of boots? You try using various key words to search. They do give you results, but they are not exactly what you are looking for. You know that if you go through countless number of websites that Google throws up as recommendations for you, you might find them at the end of an online catalogue after browsing through hundreds of “stuff” you don’t want to see. So what do you do? You feel, life would have been so easier, if you could just take a picture of those amazing boots and search online, and the search results will have the same, similar or better looking boots just for you.
Tableau Visualization – Gender Equality and Recognition of Women in India
There is a long way to go before India truly claims women empowerment. The number of female awardees from 2011 to 2015 was only 21% of the total awardees. For the states like Kerala, Tamil Nadu and Andhra Pradesh that had higher sex ratio, have contributed only 12% of the total female awardees. The states that lead in terms of literacy rates Kerala, Mizoram and Tripura have contributed only 5% of the total female awardees.
Tableau Thursdays – The Pipe has been ended. Er, what?
A US-based client in the education industry wanted to analyze its learning centres across the USA and improve overall occupancy rates by optimizing number of centres, and increasing conversion rates and retention among high value customers. As part of our investigations, we did Attrition Modelling, Centre Segmentation and Trade Area analysis and Customer Value and Best Customer analysis.
Visualizing Tourism Trends in Brazil with R Programming – BRIDGEi2i Vizards
Take a look at the tourism trends in one of the most happening holiday destinations in the world – Brazil! Also, learn how data visualizations and analytics help businesses improve decision-making and customer experience.
Acing Pokémon Go with Tableau Visualization – BRIDGEi2i "Vizards"
BRIDGEi2i has developed a Pokémon Dashboard, which encourages you to Keep Calm and Go Catch’em All. The dashboard allows you to choose the best Pokémon based on a combination of two critical abilities. Whether you want the perfect mix of speed and attack or the best of weight and defense, the dashboard will ensure that you choose the most appropriate Pokémon. You can select the type of Pokémon, be it Fire or Fairy, and then single out a specific Pokémon with respect to two parameters of your choosing.
Tableau Thursdays – Maps, Data Layers and Geospatial Intelligence
One of the most interesting features of Tableau is its capability to understand your geographical data like Longitude & Latitude, Country, Stage, Country, Post Code etc. and plot data as filled maps (or choropleths) or symbols on a map at a desired (and available) level of geographical granularity. However, what makes this much more interesting and elevates this ability to Geospatial Intelligence is the ability to overlay Maps with Data Layers that help correlate important demographic data with the data being analysed.
Tableau Visualization – Men’s Grand Slam Champions
Tennis is played by millions of recreational players and is also a popular worldwide spectator sport. The four Grand Slam tournaments (also referred to as the “Majors”) are especially popular: the Australian Open played on hard courts, the French Open played on red clay courts, Wimbledon played on grass courts, and the US Open played also on hard courts. (Source: Wikipedia)
In this visualization we showcase the Grand Slam careers of Tennis champions across the ages.
Infographic – Insights from U.S. Presidential Inaugural Speeches
With continued expansion of advanced analytical techniques and practices, one aspect often overlooked is the power of data representation. Visualizations, when done correctly, can re-emphasize strong trends and provoke deeper thought on the subtler ones. We, at BRIDGEi2i, performed a simple exercise on the 4th of July trying to put the themes reflected in the inaugural addresses of US Presidents and key events in US history together. Centuries of history crunched into one visual. Let’s see if it can unearth some interesting facts.
Tableau Visualization – ICC Cricket world Cup – A Recap!
The ICC Cricket World Cup is one of the biggest sporting spectacles in the world. The event is organised by the sport’s governing body, the International Cricket Council (ICC), with preliminary qualification rounds leading up to a finals tournament held every four years. The tournament is one of the world’s top 5 most watched sporting events and features in the Forbes’ top 10 Richest Sporting Events In The World (Source: Wikipedia, top5.com, Forbes).
With the 2015 ICC Cricket World Cup well underway, let’s take a look at the historical performances of the top 8 teams.
TABLEAU THURSDAYS: The Google Analytics Googly! – Part 3
In the Part 2 of Google Analytics Googly, we identified scenarios where the Users / Unique Visitors measure numbers don’t appear correctly in visualizations, while connecting to a Google Analytics data source from Tableau, and discussed workarounds.
TABLEAU THURSDAYS – The Google Analytics Sampling Googly!
Facing weird / random numbers while connecting to a Google Analytics data source from Tableau and don’t have a clue why? Or have you gone one step further and know that it’s a sampling issue when you try to pull >500K records from GA? At your wits’ end on what to do and looking for a workaround? Read on!
TABLEAU THURSDAYS: The Google Analytics Googly! – Part 2
In the last blog post dealing with Google Analytics and Tableau, we identified random numbers while connecting to a Google Analytics data source from Tableau as a Sampling issue, and discussed a work around.
Let’s look at a couple of other interesting situations that might stump you while building your web analytics dashboard connecting directly to GA using Tableau’s Google Analytics API.
Tableau Thursdays – Tableau Public and the Curious Case of Tableau-ception! (Viz within a Viz)
Just like any other Tableau junkie out there, I am hooked onto the premise of Tableau Public – a free tool that lets you use any data across the web (the only limitation being they should be fed from a flat file) and create beautiful, interactive visualizations that natively lend themselves to social engagement. Create a Tableau Public account, create and publish your viz and voila you’re now one among hundreds of bloggers, journalists and researchers who use Tableau Public to initiative and drive conversations that range from serious to downright silly! 🙂
What happens when you pit a recent industry leader know for rapid innovation against an ambitious upstart that’s leveraging the Open Source model to offer compelling value propositions? Let’s find out!
Visualizing the History of Olympics with Tableau – BRIDGEi2i ”Vizards”
BRIDGEi2i’s ”Vizards” have put together a detailed Tableau Visualization that provides a detailed overview of all Olympics events in succession starting from 1896 till 2008 including medal information about the independent teams. Additionally, the visualization provides a deep dive into the total medals won by a country with the break-up of gold, silver and bronze medals, by sport. Click on the specific year and know how many medals your favorite country received and land upon some interesting facts about the host city for that particular year.
Crime can be predicted – Predictive Policing is here!
Analytics is the discovery of meaningful insights and communicating it in an efficient way using the data available. The advancement in analytics has led to the development of various techniques which help make people use their resources optimally. Heard of “predictive analytics”? There has been a lot of buzz around this word in the last few years; this emerging area of analytics world can help build models to literally predict future possibilities (i.e. the probability of event happening can be predicted). What does Predictive Policing mean? What does it actually do? Who uses it and for what? How is it related to analytics? Read on for the answers.
For classifying or clustering data in the context of a machine learning problem, the first step is to create a representation of data, usually called the Feature Vector. Datasets consisting of images or audio files have feature vectors that are already in numeric form. If we have text data, we have to convert words /characters into numbers.
For a number of years, the Bag of words approach was used to create a Feature Vector. This approach required the use of a dictionary which contains all the words used in the dataset.
The Case for Machine Learning in Digital Marketing
Not far from now, you will have hard time in figuring out whether this blog is written by an machine or a human! Machine learning, the recent buzz word in the tech industry have started closing the intelligence gap between humans and machine. And its making inroads in many sectors of industries , which are solely dominated by humans.
Developers are often interested in learning about the software industry’s best practices, so that they can improve the robustness and efficiency of their code. The best way to learn is by reading the source code of programs that are in production and running heavy workloads.
While reading the sources are an option for open source projects, most company’s code is closed source and proprietary. They also take great lengths to avoid unauthorized access to the source code. In the event that the source code is stolen or compromised, what are the options available to prevent a hacker from reading the source code and finding loopholes or bugs that could be exploited?
Most of the manufacturing organizations could have saved their money in procurement and the easiest way could have been saving it through purchasing these price volatile commodities. The challenge in here is companies purchase commodities for the whole financial year and therefore forecasting the price prior two quarters is the minimum requirement. But as there are volatile in nature forecasting has always been a challenge when it is done intuitively or by “guess work”.
The human foot forward into the 21st century has ushered the big guns of globalisation and modernisation to severely impact every step taken. Numerous products, commodities, amenities and services are at our disposal making the desire to availability mapping incredibly robust. Although there are irrelevant entrants that are misleading, disturbing and are miles away from the consumer preference that cloud the mapping scenario. A recommendation engine in the most naïve sense of the term is something that functions to predict the stepping stone of the mapping, the desire. According to definition a recommendation engine is an information filtering system that seeks to predict the preference that a consumer would have for a particular item.
Pigs eat anything! Pig leaves everywhere! Pigs are domestic!…and most importantly Pigs Fly!!! Well…at least Apache Pig can! Apache Pig can operate on data whether it has metadata or not. It can operate on data that is relational, nested, or unstructured. It can easily be extended to operate on data beyond files, including key/value stores, databases, etc. However, we need some handling to avoid errors in Pig scripts. Usually, the usual problems we face while writing pig scripts are failing jobs or never ending jobs. Getting a meaningful error information too is a pain!
A Recommendation Engine plays a vital role in increasing the chances of a user buying a product. In today’s world, with tons of data from searched products available (thanks to the digital data explosion), it is very easy to find what people are likely to buy – just by looking at their ‘intent’ data. Needless to say, right analysis of such BIG data is absolutely necessary. This is where the Recommendation Engine comes into the picture.
Consider a simple problem Insurance sector problem of recommending a product to a potential customer. The recommendation is based on certain customer attributes, similar to predictive analytics in target marketing. However, it is not always possible that we come across data which satisfy all the underlying assumptions for required statistical or decision model. So we have found different ways of handling them.
This is where we come across a machine learning technique like Naïve-Bayes.
Interview with BRIDGEi2i Director and Co-Founder, Ashish Sharma
We bring to you a 3 part interview series with the BRIDGEi2i Leadership. Second in the the series, we talk to Ashish Sharma, Director and Co-Founder at BRIDGEi2i. In this Interview, Ashish shares his views on the demand for Analytics in the financial services space and the challenges the industry is facing. He also talks about how one should go about building a career in analytics.
Interview with BRIDGEi2i Director and Co-Founder, Pritam Kanti Paul
We bring to you a 3 part interview series with the BRIDGEi2i Leadership. Third in the the series, we talk to Pritam Kanti Paul, Director and Co-Founder at BRIDGEi2i. In this interview Pritam talks about advancements in the field of Statistics and Machine Learning and where the Analytics is heading.