In the age of convergence, customer churn is a concern for service providers, challenging most retention techniques...
Some time ago in one of my blogs I had talked about the product deluge that was going to hit the market with solutions in advanced analytics. To be very honest, it’s arrived faster than I had anticipated.
Not very far in time when the ERP revolution engulfed enterprises in the west, beginning from Europe to North America and finally Asia a lot was spoken about how ERP packages were designed and built considering the best practices of successful companies.
I was sharing my disappointment with a couple of my colleagues the other day about how a client was not keen to take forward a concept that was created for a project. What we were really discussing was how people try to search for wrong things at the wrong places when there so much available to work on.
With all the media attention advanced analytics has been getting as the mantra of success for businesses in the future one thing is now for sure that awareness has increased in leaps and bounds over the past 18 months. Managers within the enterprise are talking about big data and advanced analytics with a degree of knowledge that was lacking 5 quarters ago.
The recent presidential elections that just concluded in the USA are an excellent example of how advanced analytics has been used to get the right results. Even though the Democrats were working apparently with a much smaller budget (thanks to the funding by the big guys to the Republican cause) they produced a stellar performance. In a recent article that was published in the Time magazine the author mentions that the Democrats also raised close a billion dollars for their election campaign to match the funding power that the Republicans so vehemently publicised.
Data has been existent since time immemorial and human brains have been processing and analyzing data from cradle to grave in varied forms – on finger tips, abacus, tally, excel sheets, computational algorithms et al. I presume other living things around us do analyze data as well – a leopard hunting a gazelle at high speeds, formation flight of migratory birds, the precision swoop of an eagle to grab its prey etc. Does anyone out there know what technologies or algorithms they use?