We pool together our top stories on data analytics and predictive analytics in use by Australian and global brands in 2015
This year saw the rise of massive interest and demand for data analytics and predictive analytics capabilities and skillsets in the modern marketing function.
To make sure our readers don’t miss out on any tips and tricks, we’ve pooled together the best and most popular of our extensive coverage around the use of data analytics by leading Australian and global brands, as well as advice from the world’s best on how you can get ahead.
How Telstra is applying data analytics to customer experience
Analytics and insight for its own sake is just an academic exercise: “It’s about everything we do driving to an action and outcome,” Telstra head of analytics, Liz, Moore, told CMO in an interview describing how the telco is applying data analytics to its customer engagement efforts.
“When we talk with internal stakeholders and work out how to allocate revenues, it’s about being clear on the pathway to action – what we will do differently as a result of knowing that information? It’s a powerful question for analysts and researchers. We use it as a lens over our program of work so we strip away any ‘nice to knows’ and focus on things that will drive to an outcome organisationally.”
The top 3 directions predictive analytics will take in 2015
Digital futurist, Chris Riddell, looks at how predictive analytics and smart data will provide marketers with the ability to finally tackle the individual.
“I see three directions predictive analytics will take in 2015, which I’m calling ‘upwards, downwards and inside out’,” he said. “But rather than different directions, it is more helpful to see these as inter-connected. The real value for business leaders and their businesses comes from being able to access the insights generated from all three.”
How big data analytics is impacting the insurance sector
Big data analytics is not only providing Aon with the tools to improve existing insurance policies and risk management models, it’s also paving the way to product and customer innovation.
The risk management and insurance provider has invested about $350m globally in recent years to build out its data capabilities, culminating in two analytics and innovation centres of excellence in Dublin, Ireland and most recently, Singapore.
“On the one hand, big data is generating new risks, and on the other hand, the fact you have the analytics allows you to think about quantifying risks and designing products to help mitigate them,” said Steven Mildenhall, the global CEO of analytics at AON and in charge of the analytics and innovation centre.
With all the hype that has accompanied the digitisation of consumer marketing, it is easy to forget that another important field of marketing has been going through its own digital revolution.
B2B marketing is benefiting from many of the same automation and analytic technologies and techniques being used in consumer marketing, but applied to a much smaller range of targets and in a one-to-one fashion that many consumer marketers might only dream of.
The world of big data vendors is divided into two camps. There are the pure-play big data startups bringing innovation and buzz to the marketplace. And then there are the established database/data warehouse vendors who are moving into the world of big data from a position of strength. Here’s a list of the 15 companies to watch from both sides.