Solving Business Challenges Through Data Analytics

Scott Staples, President and CEO of MindTree’s Knowledge Services presented a webinar on Solving business challenges through Analytics. Narrating a delightful experience on a flight to Chicago got him thinking on how the airlines  leveraged the information they had about him, to convert him from just another customer to a loyal fan. They had captured the right data, modeled it correctly, and generated appropriate insights on their customer behavior.

Today, every business function is faced with an uphill task of making investments count. Hence innovation as well as optimization of existing tools has become a need. Whether, it is the re-use of existing technology or the quantum of sparingly used data. The new media means the consumer is more aware and it takes more than a mere marketing campaign to convince her. The consumer is willing to pay for something more than just the service, which translates into - “the convenience”. It is this differentiator that we consider a ‘competitive advantage’. With the amount of information that is available with each transaction, it makes sense to leverage this information to create the differentiator.

However, the data in its native form cannot be the differentiator.  The investment on the data can be justified only when the data can be effectively analyzed. In fact, an ideal situation would be when an analytical model can be simply bolted on top of the existing DW repository.  It can provide accelerated insights into the business and make a case for new investments too.  A business that can leverage this in real time is most likely to emerge as the winner.

Scott highlighted the case of a Fortune 100 company that worked with MindTree to re-define marketing strategy and align service models with the appropriate customer segments. MindTree successfully analyzed the client’s data over the last 3-4 years to uncover 6 new customer segments and design key strategies to address each one of them.

In another case, MindTree worked with the world’s biggest GPS company to identify traffic congestion problems by analyzing the un-used existing data. Using analytics, MindTree successfully addressed the issue at hand and created a scalable solution to convert the acquired data into a revenue generation channel.

Scott also highlighted some of the best practices that need to be considered before analytics can be embarked upon. These include:

• Understand your business user’s problem
• Know your  metric
• Targeted approach for data quality
• Mine unstructured data too
• Iterate-Iterate-Iterate. And then re-iterate
• Ensure a cross-functional team
• Right tool technique

MindTree has successfully implemented these practices for organizations and have developed in-house processes. These are ready to be deployed and can be integrated to obtain accelerated insights.  To know more about how this can address the challenges faced by your organization, drop us an email at shilpa_kona@mindtree.com and we will revert back at the earliest.