6 Industries That Need Business Intelligence

Technological trends were always a game-changer in the industrial sphere. From the birth of the first personal computer to the expansion of the internet, every industry out there had to adapt to these technological breakthroughs at one point. Business intelligence is no different. Nowadays, with the market being so competitive, industries have to do whatever it takes to get an edge over their competitors. Business intelligence is one of those things that can give them an edge, especially in the domains of analytics, market and consumer analysis as well as security. So, without further ado, here is a list of six industries that benefit from business intelligence the most:

Retail industry

One of the biggest problems that plagues the retail industry today is theft. Namely, goods often get ‘misplaced’ somewhere between the time of the order to the point of sale. This is why BI is such an important tool in preventing inventory loss with its data warehousing. Now stores can keep close track of their supply chain and even check where these ‘leaks’ tend to occur, as well as which particular item is continuously getting stolen. As a result, stores can then use this info to make new measures and security procedures that can prevent such things from happening in the future and cut their losses significantly.

Food industry

Sustainability is becoming an increasing trend in the food industry. Here, business intelligence helps food industrialists find new solutions for old problems regarding the use of safer ingredients, eco-friendly packaging as well as general distribution. With its data mining and data collection tools, BI assists companies in researching new “green” technologies almost instantaneously. Today, a lot of people are very strict about the way their food is processed. Companies need to pay attention to their demands, lest they risk losing a huge portion of their clientele. Therefore, to no great surprise, there is a steady increase in quality control and yield management in the food production sphere.  

Telecom industry

Business intelligence in telecom industry is being widely used. Huge amounts of data are being handled each second with little to no margin for error. Being such a competitive market as it is, telecom providers need to find new ways of increasing their quality assurance. BI maintains data-processing to its utmost efficiency, providing powerful insight from the data collected. With this newfound knowledge, telecom companies can focus on anticipating customer needs as well as creating new customer retention strategies to get an edge over their competitors.

Oil industry

In the oil industry, business intelligence is used quite often to analyse geological data and seismic tests to predict where the largest oil deposits are. With the recent implementation of such predictive analyses, oil companies are getting an increase in profit which in turn lowers the price of oil. Likewise, BI is also used to monitor the constant fluctuation of crude oil prices in real time which allows the marketers to sell oil when prices get high enough, and fold when they are too low.

Fashion industry

The fashion industry is one of the most competitive industries out there. Decision making is absolutely vital for choosing the right kind of design that will eventually catch on like wildfire and become a global trend. This is where BI comes in handy with its analytical tools. It helps both buyers and marketers understand which target audience their consumers fit into. Thus, they gain the much-needed insight that will help them stay on top of their game. Excellent market awareness such as this can sometimes unearth the next big sensation which can help smaller companies make a breakthrough on the fashion scene.

Pharma industry

The main problem within the pharmaceutical industry is keeping track of the expiration dates of drugs which are kept in storage. Business intelligence software helps minimize the risk of an expired product ever leaving the shelves. This way, pharmaceutical companies can operate within safety parameters of health regulations. Also, another area where BI can offer its assistance is with the control of product patents. Sharing of patents will be a lot easier with the use of BI which will result in current patent laws changing drastically, enabling swifter FDA approval of new drug development.

To sum up, business intelligence can be a powerful tool for real-time decision making, analyzing the market and for keeping excellent track of data. It provides an advantage for companies over their opponents in almost every industrial sector and companies which learn to harness its full potential will be leading the pack in the near future for sure.

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Enterprise Journey to Becoming Digital

Do you want to be a digital enterprise? Do you want to master the art of transforming yourself and be at the forefront of the digital realm?

How can you change your business to achieve this?

Derive new values for yourself, and find better and more innovative ways of working. Put customer experience above and beyond everything as you find methodologies to support the rapidly changing demands of the digital world.

Your transformation will be successful only when you identify and practice appropriate principles, embrace a dual strategy that enhances your business capabilities and switch to agile methodologies if you have not done it already.

The journey to becoming a digital maestro and achieving transformation traverses through four main phases.

  • Becoming a top-notch expert with industrialized IT services – by adopting six main principles
  • Switching to agile operations to achieve maximum efficiency – so that you enjoy simplicity, rationality and automation
  • Creating an engaging experience for your consumers using analytics, revenue and customer management – because your customers come first; their needs and convenience should be your topmost priority
  • Availing opportunities for digital services – assessing your security and managing your risks

Becoming a top-notch expert with industrialized IT services

There are five key transformation principles that can help you realize the full potential of digital operations and engagement.

  • Targeting uniqueness that is digitized
  • Designing magical experiences so as to engage and retain your consumers
  • Connect with digital economics, and collaborate so as to leverage your assets
  • Operate your business digitally, customer experience being the core
  • Evolving into a fully digital organization through the side by side or incremental approach

Initially a digital maturity analysis has to be performed, followed by adoption of a targeted operational model. Maturity can be divided into five different levels: initiating, enabling, integrating, optimizing and pioneering, which are linked to seven different aspects: strategy, organization, customer, technology, operations, ecosystem and innovation, of which the last two are the most critical. The primary aim should be to cover all business areas that are impacted by and impact digital transformation.

Before taking a digital leap, the application modernization wheel should be adopted. Identify your targets, which will act as main drivers. Determine application states, and then come up with a continuous plan. This is referred to as the Embark phase, during which you understand the change rationale of your applications, and then improve metrics, which drive changes. During the Realize phase, you analyze ways in which you can change your operations and speed up your delivery. In the process, you have to improve quality, while ensuring your product line is aligned with your business needs. You establish DevOps, beginning from small teams, and then moving forward using new technologies.

The third phase is Modernize, during which you plan and implement your architecture such that your apps are based on API services. The last stage is Optimize in which performance is monitored, and improvements are made when and where they are necessary.

Switching to agile operations to achieve maximum efficiency

Data centers now feature several applications, suitable for the IT, telecommunication and enterprise sectors, but their offered services have to be responsive to the changing trends and demands. Ericsson brings agility into the picture so as to achieve efficiency through automation. This can be made possible with the NFV Full Stack, which includes a cloud manager, execution environment, SDN controllers and NFV hardware. The solution is capable to support automated deployment while providing you flexibility through multi VIM support. Check out this blog post to see a demonstration of a virtualized, datacenter and explore their vision of future digital infrastructure.

NFV’s potential can be fully achieved only when the hybrid networks are properly managed, which dynamic orchestration makes a possibility. The approach taken automates service design, configuration and assurance for both physical and virtual networks. Acceleration of network virtualization is being realized through the Open Platform for Network Functions Virtualization (OPNFV), a collaborative project under the Linux Foundation that is transforming global networks through open source NFV. Ericsson is a platinum-level founding OPNFV member, along with several other telecom vendors, service providers and IT companies leading the charge in digitalized infrastructure.

Creating an engaging experience for your consumers

Customer experience is the central focus when you are in the digital realm. Customer experience should be smooth, effortless and consistent across all channels.

Design a unique omnichannel approach for your customers. This means that you should be able to reach out to your customers through mobile app, social media platforms and even wearable gadgets. Analyze real-time data, and use the results for improving purchase journeys obvert different channels like chatbots and augmented reality. Advanced concepts like clustering and machine learning are used to cross data over different domains, and then take appropriate actions. For instance, if you were a Telco, you should be able to offer a new plan, bundle or upgrade to each customer at the right time. All of the analytics data can also be visualized for a complete understanding through which the customer journey can be identified, and the next best action can be planned out.

Availing opportunities for digital services

Complexity increases when all your systems are connected, and security becomes a more important concern. You should be able to identify new vulnerabilities and threat vectors, and then take steps to protect your complete system. And this protection should extend to your revenues, and help you prevent fraud.

A Security Manager automates security over the cloud as well as physical networks. The two primary components are Security Automation and 360 Design and Monitoring. New assets are detected as security is hardened, which are then monitored continuously.

Additionally the Digital Risk and Business Assurance enable your business to adapt in the dynamic environment while reducing impact on your bottom line. Assurance features three levels: marketplace, prosumer and wholesale assurance. The end result is delivery of a truly digital experience.

Want proof that the above methodologies do work wonders? Two of Ericsson customers, Verizon and Jio, have already been nominated as finalists for the TM Forum EXCELLENCE Awards.

I also encourage you to join and/or follow TM Forum Live this week. If you’re headed to the conference, be sure to check out the Ericsson booth and connect with the team to learn more and discuss your digital transformation journey.

If you would like to read more from Ronald van Loon on the possibilities of Big Data and IoT please click 'Follow' and connect on LinkedIn and Twitter.

Source: Enterprise Journey to Becoming Digital | Ronald van Loon | Pulse | LinkedIn

Customer Success | The HR Tech Weekly®

Journey Science in Telecom: Take Customer Experience to the Next Level

Journey Science in Telecom: Take Customer Experience to the Next Level

Journey Science, being derived from connected data from different customer activities, has become pivotal for the telecommunications industry, providing the means to drastically improve the customer experience and retention. It has the ability to link together scattered pieces of data, and enhance a telco business’s objectives. Siloed approaches are becoming obsolete – take call centers as an example – there is only so much that you can do with data from only one system.

By using insights from customer journey analytics, telco businesses can better measure the user experience, and make informed decision for refining it. The data not only allow them to take proactive approach towards customer satisfaction, but enable the prediction of future failures as well. With customer journey analytics, you can evaluate the touchpoints to journeys, and revamp your strategies to better cater to customers’ needs.

In the telecom industry, it is difficult for a business to effectively manage the massive volume of data with the existing systems and technology. There are several aspects where telecom companies need to make improvements, such as reduce costs, improve customer experience, increase conversion rates, and many more. To do so, they need to derive meaning from the collected data by finding connections among them. This linked data is also known as journeys. Journeys provide you with relevant data that enable you to make well-grounded business decisions by looking at customer transactions as a whole, and determining where direct improvements are needed.

Customer Journey Analytics is Transforming Telecommunications

Many leading telco businesses are embracing the Journey Science concept, and deem it to be the best way to make greater impact on the target audience. One good way to better understand digital journeys is through a multi-channel, end-2-end, view. Journey Sciences, at its best, provides enhanced data accessibility and increased analytics agility, and helps in weaving together disparate pieces of data. This makes it possible for telco businesses to link together structured and unstructured data back to their strategic objectives, and quickly modify them to ensure they cope with the evolving customer demands. However, in order to get insight into customer experience through journey analytics, it is critical to focus not only on the individual moments but the customers’ end-to-end experiences as well.

Customer Experience Boost

The main benefit of customer journey analytics for telco companies is that it enables them to better recognize customer needs, and assess their satisfaction level. While most people think Journey Science is all about marketing, it mainly focuses on the services domain. For example, a customer seeking technical support for their device has multiple paths to resolution. Journey Science enables businesses to evaluate each step of the journey experience, and figure out the critical points that could negatively impact customer experience. With this kind of information, businesses can develop strategies to overcome hurdles customers face on all such touchpoints, resulting in improved customer experience.

Improving Customer Journeys through Transparency

Connecting the Dots

For improving customer experience, it is essential to connect all the data down to the individual customer level to fully understand the required changes. For telco businesses to completely understand customer journeys, they must gather data from many different channels, and track the individual journey the customer experiences. Typically, more than 50 percent of customers make multi-channel journeys; meaning, in order to understand their behavior, establishing connection among all the data is extremely important. Because of the deep roots of technology in today’s common lifestyle, many journeys start from digital channels, but eventually go into a human channel for completion.

Utilizing Aggregate and Raw Data

Apart from giving a complete picture of customer journeys, the analytics let you tap into different levels of aggregation, allowing you to view raw data as well. With journey mapping, telco businesses can benefit from both in-depth data points and aggregated data sets. Since a single customer journey can compile hundreds of thousands of data points, having aggregated views makes it much easier to pinpoint and prioritize the problematic areas. On the other hand, some journeys may yield unclear results, for example, unusual behavior of a customer on a webpage. In such a case, having access into the raw data renders the ability to focus on one key area and get invaluable insights.

Making Changes through Data Availability 

Effective utilization of data from customer journey analytics allows telco to revamp their strategy as well as make smaller improvements on a continuous basis. Getting immediate feedback regarding a certain change is critical for understanding its impact. You can determine whether the intended results will be realized, or should you scale-up or sustain the change. However, a manual, project-based approach that only provides an overview of the required data will not be enough to transform journeys successfully. Instead, you should opt for an agile, iterative, analytic approach that uses continuous data availability.

It won’t be wrong to say that all those ad-hoc, manual, project-based approaches using snapshots of data have severe limitations.

Better data accessibility to more than 18 telco raw data sources as a prerequisite 

How the Customer Journey differs in both Fixed and Mobile Telco

Mobile (mobile data usage, subscriptions, charges, and mobile data access)

Several small customer journeys can be linked together to make improvements to a mobile telco operation. One great way is through customer engagement, i.e. moving down to individualized journeys of each customer instead of mass-segmentation. Journey Science opens doors for mobile telco companies to take personalization up a notch, and provide customized recommendations based on the journeys of each customer. You should also utilize real-time context to enhance customer engagement for better results.

Mobile customer experience comprises of several touchpoints where a subscriber interacts with a service provide agent – it can be during retail, billing, customer support, visible marketing campaigns, and others. Consider three customers below that have 3 different journeys to perform the same action.

Fixed line providers (phone, internet, entertainment)

Fixed line providers have an additional interaction channel with field technicians being deployed to customers’ homes for service. These field service appointments are a major part of customer experience and often have significant variability for different customers. Consider the following journey which involves multiple appointments, agent phone calls, and delays:

Improve key journeys for fixed Telco’s

Journey Science is Moving towards Predictive Analytics

The Journey Science concept is increasingly becoming popular across the telco industry, as it greatly benefits by assessing journeys of individual customers and allow them to develop customized strategies. Moreover, it allows telco businesses to anticipate the potential pitfalls leading to negative customer experience and prevent it altogether. By tapping into the data from customer journey, telco can streamline their operations and provide a better, more satisfying experience to their customers.

Derived value from Customer Journey data by Journey Science & Journey Analytics

In today’s world, customer satisfaction is the keystone for success in every industry, including telco. Businesses should turn to the Journey Science movement, and optimize their processes by carefully analyzing customer journeys and making improvements accordingly. Effective utilization of customer journey analytics leads to better redesigning efforts, ultimately reducing costs, enhancing customer experience, and stretching bottom-line.

About the Authors:

Want to talk more about Journey Sciences? Connect with Rogier van Nieuwenhuizen, Executive Vice President, EMEA region at ClickFox, on LinkedIn and join Journey Science movement on Twitter by following @journey_science and the Journey Science’s LinkedIn Group today.

If you would like to read more from Ronald van Loon on the possibilities of Big Data and Journey Science please click ‘Follow’ and connect on LinkedIn and Twitter.


Source: Journey Science in Telecom: Take Customer Experience to the Next Level | Ronald van Loon | Pulse | LinkedIn

A day in the life of an HR

A day in the life of an HR

All those familiar with HCM applications agree that an HCM application has a varied set of users i.e. the employees, their managers and the HR power users with different access levels.

We will peek into what an HCM solution offers its power user group in today’s post.

So today we follow Tina, an HR professional who could be employed in your organization or mine, Tina uses an HCM application at work, I will pretend her organization has implemented Workday, you can pretend she uses PeopleSoft HCM / SAP HCM / Oracle HCM.

How would Tina wants to begin her day, she would like to have a quick glance at the tasks and transactions that require her attention, tasks could include a report to be sent across the manager, a direct report to be reviewed for performance, an open job opening for which Tina has to interview candidates, transactions could include processing requests submitted by end user employees like address changes, marital status updates etc., making updates to employee data like initiating a transfer, processing a hire, termination etc. Life would be a breeze if all pending tasks and transactions be visible at once. Well it is possible and life can indeed be a breeze if Tina can sign into her HCM account in the morning and access a Dashboard (also referred to as WorkCenter or Operational Dashboard) configured for her use. The Dashboard is made of individual widgets (or pagelets as they are also referred to) which can display tasks that require attention, pending transactions, notifications from the manager, announcements from the organization at large, birthday and anniversary reminders etc. And the best part is that Tina can click on a task or transaction requiring attention and she will be transferred to the relevant page where she can proceed with further action. Now isn’t that fabulous.

Tina is a woman on the move, and so is her HCM solution. Most of the contemporary HCMs are designed with smartphone compatibility as the focus, also some even tailor their screens and pages to be rendered seamlessly on iPads.

Now what if Tina wants to run some HR Analytics, all she has to do is make use of the near to Business Intelligence reporting features offered by most HCM solutions, some HCMs like PeopleSoft have built-in Pivot Grid like reports and lets the IT team create new one as per business needs. And for more advanced HR Analytics, HCMs can be interfaced with Business Intelligence solutions. And Business Intelligence tools have the flexibility wherein Tina can create reports on her own without help from the IT team.

So a day in the life of an HR person using HCM is breezy and exciting, don’t you agree…


If you want to share this article the reference to Bhuvana Rao and The HR Tech Weekly® is obligatory.

What Is the Future of Data Warehousing?

Data Warehousing

There is no denying it – we live in The Age of the Customer. Consumers all over the world are now digitally empowered, and they have the means to decide which businesses will succeed and grow, and which ones will fail. As a result, most savvy businesses now understand that they must be customer-obsessed to succeed. They must have up-to-the-second data and analytical information so that they can give their customers what they want and provide the very best customer satisfaction possible.

This understanding has given rise to the concept of business intelligence (BI), the use of data mining, big data, and data analytics to analyze raw data and create faster, more effective business solutions. However, while the concept of BI is not necessarily new, traditional BI tactics are no longer enough to keep up and ensure success in the future. Today, traditional BI must be combined with agile BI (the use of agile software development to accelerate traditional BI for faster results and more adaptability) and big data to deliver the fastest and most useful insights so that businesses may convert, serve, and retain more customers.

Essentially, for a business to survive, BI must continuously evolve and adapt to improve agility and keep up with data trends in this new customer-driven age of enterprise. This new model for BI is also driving the future of data warehousing, as we will see moving forward.

Older BI Deployments Cannot Keep Pace for Success

As valuable as older BI applications and deployments have been over the years, they simply cannot keep pace with customer demands today. In fact, decision-makers in IT and business have reported a number of challenges when they have only deployed traditional BI. These include:

  • Inability to accurately quantify their BI investments’ ROI. Newer BI deployments implement methodologies for measuring ROI and determining the value of BI efforts.
  • A breakdown in communication and alignment between IT and business teams.
  • Inability to properly manage operational risk, resolve latency challenges, and/or handle scalability. While BI is intended to improve all of these, traditional BI is falling behind.
  • Difficulty with platform migration and/or integration.

Poor data quality. Even if data mining is fast and expansive, if the quality of the data is not up to par, it will not be useful in creating actionable intelligence for important business decisions.

Keeping Up with Customer Demand Through New BI Deployments

So how can combining traditional BI, agile BI, and big data help businesses grow and succeed in today’s market? Consider that big data gives businesses a more complete view of the customer by tapping into multiple data sources. At the same time, agile BI addresses the need for faster and more adaptable intelligence. Combine the two, along with already existing traditional BI, and efforts that were once separate can work together to create a stronger system of insight and analytics.

Through this new BI strategy, businesses can consistently harness insights and create actionable data in less time. Using the same technology, processes, and people, it allows businesses to manage growth and complexity, react faster to customer needs, and improve collaboration and top-line benefits – all at the same time.

The Drive for a New Kind of Data Warehousing

A new kind of data warehousing is essential to this new BI deployment, as much of the inefficiency in older BI deployments lies in the time and energy wasted in data movement and duplication. A few factors are driving the development and future of data warehousing, including:

  • Agility – To succeed today, businesses must use collaboration more than ever. Instead of having separate departments, teams, and implementations for things like data mining and analysis, IT, BI, business, etc., the new model involves cross-functional teams that engage in adaptive planning for continuous evolution and improvement. This kind of model cannot function with old forms of data warehousing, with just a single server (or set of servers) where data is stored and retrieved.
  • The Cloud – More and more, people and businesses are storing data on the cloud. Cloud-based computing offers the ability to access more data from different sources without the need for massive amounts of data movement and duplication. Thus, the cloud is a major factor in the future of data warehousing.
  • The Next Generation of Data – We are already seeing significant changes in data storage, data mining, and all things relate to big data, thanks to the Internet of Things. The next generation of data will (and already does) include even more evolution, including real-time data and streaming data.

How New Data Warehousing Solves Problems for Businesses

So how do new data warehouses change the face of BI and big data? These new data warehousing solutions offer businesses a more powerful and simpler means to achieve streaming, real-time data by connecting live data with previously stored historical data.

Before, business intelligence was an entirely different section of a company than the business section, and data analytics took place in an isolated bubble. Analysis was also restricted to only looking at and analyzing historical data – data from the past. Today, if businesses only look at historical data, they will be behind the curve before they even begin. Some of the solutions to this, which new data warehousing techniques and software provide, include:

  • Data lakes – Instead of storing data in hierarchical files and folders, as traditional data warehouses do, data lakes have a flat architecture that allows raw data to be stored in its natural form until it is needed.
  • Data fragmented across organizations – New data warehousing allows for faster data collection and analysis across organizations and departments. This is in keeping with the agility model and promotes more collaboration and faster results.
  • IoT streaming data – Again, the Internet of Things, is a major game changer, as customers, businesses, departments, etc. share and store data across multiple devices.

To Thrive in the Age of the Customers – Businesses Must Merge Previously Separate Efforts

Now that we are seeing real-time and streaming data, it is more important than ever before to create cohesive strategies for business insights. This means merging formerly separate efforts like traditional BI, agile BI, and big data.

Business agility is more important than ever before to convert and retain customers. To do this, BI must always be evolving, improving, and adapting, and this requires more collaboration and new data warehousing solutions. Through this evolution of strategies and technology, businesses can hope to grow and improve in The Age of the Customer.

Examples of the Future of Data Warehousing

And what exactly will the future of data warehousing look like? Companies like SAP are working on that right now. With the launch of the BW/4HANA data warehousing solution running on premise and Amazon Web Services (AWS) and others like it, we can see how businesses can combine historical and streaming data for better implementation and deployment of new BI strategies. This system and others like it work with Spark and Hadoop, as well as other programming frameworks to bring data and systems of insight into the 21st century and beyond.

Want to learn more about BI, agile BI, the future of data warehousing, and all things big data? 

Follow Ronald van Loon on LinkedIn and Twitter

And, if you have any thoughts on the subject, you may share them in the comment to the original post.


Source: What Is the Future of Data Warehousing? | Ronald van Loon | Pulse | LinkedIn