The business intelligence market is bounded on one side by big data and on the other side by data preparation. That is, to maximize their performance in using information, organizations have to collect and analyze ever increasing volumes of data while the tools available are constantly evolving in the big data ecosystem that I have written about. In our benchmark research on big data analytics, half (51%) of organizations said they want to access big data using their existing BI tools. At the same time, as I have noted, end users are demanding self-service access to data preparation capabilities to facilitate their analyses.
Pentaho 7.0 Brings Visualization and Data Preparation
Posted by
David Menninger on Jan 27, 2017 7:21:43 AM
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Topics: Big Data, Analytics, Business Intelligence, Collaboration, Data Integration, Data Preparation, Information Management, Internet of Things
B2B Price and Revenue Optimization Goes Mainstream
Posted by
Robert Kugel on Jan 24, 2017 12:16:47 AM
Price and revenue optimization (PRO) is a business discipline used to produce demand-based pricing; it applies market segmentation techniques to achieve strategic objectives such as increased profitability or greater market share. In essence, PRO enables companies to surf the demand curve using dynamic rather than fixed pricing to achieve the most desirable trade-offs between revenue volume and profit margins. The trade-off is defined by strategic factors such as the company’s market position, product and service portfolio, and marketing strategy.
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Topics: Big Data, Data Science, Sales, Office of Finance, Analytics, Cloud Computing, Sales Performance Management, Financial Performance Management, Price and Revenue Management
USAN Integrates Management of Contact Centers and Communication Channels
Posted by
Ventana Research on Jan 22, 2017 6:53:15 AM
Over the last few years the telecommunications and call center industries have undergone radical changes. Telecommunications was mainly in the hands of national and regional telecom companies, which essentially owned all the cables in the ground. The call center market was dominated by a small number of vendors that provided on-premises systems to manage and route calls when they arrived at a company’s offices. The telecom model was in effect the first cloud-based service, though almost no one stopped to think about how a call made on one device arrived at another. The arrival of the internet and wireless technologies and the telecom companies’ willingness to lease capacity on their lines changed both models. Now almost any company can provide communication services, and the majority of contact center systems are cloud-based. In this evolution some organizations that previously were hidden behind the telecoms have emerged as suppliers of communications and contact center services.
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Topics: Customer Analytics, Customer Engagement, Customer Experience, Speech Analytics, Employee Engagement, Analytics, Cloud Computing, Customer Service, Call Center, Contact Center, Contact Center Analytics, CRM, Text Analytics
Kofax Kapow 10 Advances Robotic Process Automation
Posted by
Robert Kugel on Jan 20, 2017 8:15:48 AM
Kofax offers Kapow, robotic process automation (RPA) software used to acquire information from a range of sources without human intervention and without having to write code. These sources include websites, applications, unstructured documents, data stores and desktop spreadsheets. RPA software does repetitive, low-value work that otherwise may be performed by person. It saves time in these tasks, completing them sooner and freeing skilled individuals to concentrate on work that utilizes their skills to the fullest. One of the earliest uses of software robots was “Web crawling,” which automated rapid collection of data posted on websites, for example, prices and locations. This was the Kofax Kapow’s original purpose, but its scope has expanded. When used to gather information from multiple applications, the software precludes the need for setting up and maintaining a separate data store. This saves time and money while ensuring that the information has come from the authoritative source and that there is no latency in the data. Rather than taking the time to write a program with broad applicability, a robot can be quickly configured to perform a specific task in a way that mimics how an individual does the job.
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Topics: Office of Finance, Operations, close, finance, banking, Digital Technology
The big data market continues to evolve, as I have written previously. Vendors are attempting to differentiate their offerings as they seek to encourage customers to pay for technology that they could potentially download for free.
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Topics: Big Data, Analytics, Business Intelligence, Internet of Things, Information Optimization
Teleopti Targets Workforce Management for Contact Centers
Posted by
Ventana Research on Jan 18, 2017 12:25:49 AM
Our benchmark research into the next-generation contact center in the cloud shows that the telephone and other nondigital communication channels are far from obsolete: Participating organizations expect growth in all channels. As a consequence, contact centers are likely to remain a key channel to handle customer interactions, and it is likely that contact center agents will have to handle multiple forms of interactions, which are likely to be more complex. The research also shows that interactions are increasingly being handed by all business groups, not just the contact center. To meet these demanding customer expectations, organizations must continue to carefully manage the availability of skilled resources to handle these interactions.
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Topics: Customer Experience, Contact Center
Financial Performance Management Software Vendors Face Challenges
Posted by
Robert Kugel on Jan 13, 2017 12:05:24 AM
Ventana Research defines financial performance management (FPM) as the process of addressing often overlapping issues involving people, process, information and technology that affect how well finance organizations operate and support the activities of the rest of their organization. FPM software supports and automates the full cycle of finance department activities, which include planning and budgeting, analysis, assessment and review, closing and consolidation, internal financial reporting and external financial reporting, as well as the underlying information technology systems that support them.
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Topics: Performance Management, ERP, FP&A, Human Capital Management, Office of Finance, Consolidation, Financial Performance Management, FPM
CallMiner Advances Customer Engagement Analytics
Posted by
Ventana Research on Jan 2, 2017 11:41:01 PM
Our benchmark research into the next-generation contact center in the cloud confirms what most people intuitively know – that consumers now engage with each other and organizations through more communication channels than a few years ago and that many of these are speech- and text-based. Companies are therefore generating large volumes of voice recordings and textual records. They contain vital information about what customers feel about issues connected to their dealings with the organization – marketing messages the sales process, product and service quality, and employee behavior, among others. The challenge for organizations is to extract insights from these unstructured records and take action to benefit the business based on those insights. When it was founded in 2002, CallMiner set out to support organizations in that quest, and in 2012 it won a Ventana Research Technology Innovation awards.
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Topics: Customer Analytics, Customer Engagement, Customer Experience, Speech Analytics, Employee Engagement, Analytics, Cloud Computing, Customer Service, Call Center, Contact Center, Contact Center Analytics, CRM, Text Analytics
The treasury function in finance departments doesn’t get a lot of attention, but it’s a fundamentally important one: to ensure that all funds are accounted for and that there is sufficient cash on hand each day to meet operating requirements. Keeping track of and managing cash, especially in larger organizations, can be complicated because of multiple bank accounts, complex financing requirements and various methods of receiving and making payments; the complexity deepens when more than one currency is used across multiple jurisdictions, which also can pose regulatory issues.
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Topics: Predictive Analytics, Office of Finance, credit, debt, Analytics, CFO, cash management, controller, Financial Performance Management
Zuora provides software that supports the rapidly expanding subscription economy. I recently attended the company’s user event in London, called subscribe16. During his keynote speech CEO Tien Tzuo insisted that the subscription economy is not only here to stay but is likely to grow substantially. In the U.K. alone, he said, 40 million users are using subscription services, including 14 million use video streaming services, 5.4 million use music streaming services, and perhaps most surprising, 78 percent of adults age 55 or older use at least one subscription service.
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Topics: Customer Analytics, Customer Engagement, Customer Experience, Speech Analytics, Employee Engagement, Analytics, Cloud Computing, Customer Service, Call Center, Contact Center, Contact Center Analytics, CRM, Text Analytics
Ventana Research awarded our Governance, Risk and Compliance (GRC) Business Innovation Award for 2016 to IBM for IBM Regulatory Compliance Analytics, powered by Watson (IRCA). This application of cognitive analytics is designed to streamline the identification of potential regulatory requirements and suggest methods for compliance. In so doing the cloud-based system can cut the time and cost of compliance while creating an effective means of ongoing management and control of compliance processes.
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Topics: GRC, Machine Learning, Office of Finance, Dodd-Frank, Risk Analytics, compliance, finance, Financial Services, Watson
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