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  • Vijesti

    Wüsthof Sharp Systemic Brand Identity with Gigodesign wins Red Dot Award

    How to win a Grand Prix in Cannes?

    The best of Latvian and Estonian advertising

    Enjoy the summer with Cinedays Film Factor 20

    Lokomotiva and SentecaCommerce signed a partnership for 12 European markets

    Virtual Drumming with Fernando Machado, Karolina Galácz, and Thomas Kolster

  • Tema sedmice
    daljinski-naslovnica

    Television Audience Measurement: In Serbia, the media are in a race to the bottom for every extra “click”, while in Croatia HTV has undermined the principle of joint monitoring

    This global pandemic, coronavirus, cuts across all geographical borders regardless of cultures and language. What is the role of Public relations today?

    Slaven Fischer: Creativity doesn’t reside in buildings but in people, no matter where they are. It’s natural for people to work from home.

    Janja Božič Marolt: As in every crisis, there will be a lot of victims and some winners in the communications industry of the region.

    Shortcutting Video: New Study Highlights the Effectiveness of 2-second Ads

    Topic of the Day: Can artificial intelligence replace human intelligence and emotions. Is technology a servant or a master?

  • Intervju

    Miranda Mladin: Keeping consumers’ attention is every brand’s biggest challenge

    Nataša Mitrović: I understood that the Balkans should be my primary target area and that, once I had become a shark in the Balkans, then I could make my way “back” into the big world and swim in the sea with the other sharks.

    Ivan Stanković: I admit to having great fun and enjoying myself enormously working on my show, What I am to you and who I am to myself.

    Scott-Gould-naslovnica

    Scot Gould: Stop doing anything that you do that isn’t valuable, tell everyone about that offering, and don’t stop!

    lazar-naslovnica

    Lazar Džamić: We are experts at preferring the byways, swamps, and chasms, so that we can keep on going in circles, lost in space

    Irena-naslovna

    Irena Kurtanjek: Contributing to the Communities in which we Operate is the Foundation of Nestlé’s Business

  • Kolumna

    Sponsors? What that?

    misa-naslovnica

    Miša Lukić: What can start-ups learn from sperm?

    Do Brands Always Need to Sell Aggressively to Grow?

    Price of Hate

    The Advertising Industry: From Alchemists to Distributors and Back Again

    Milena Garfield: It’s not long since I said: If it ain’t live, it’s dead

  • Dnevnik

    Diary of a Methuselah #176 Will our industry come out of this better and smarter?

    Diary of a Methuselah #159: Ivo Pogorelić and Zoran Todorović weren’t attractive enough for sponsors in Sarajevo

    Diary of a Methuselah #157: The Young Leaders of Tomorrow, a great event for young people who are ready to assume responsibility for the future of industry

    Diary of a Methuselah #156: I’ve been writing my Diary for three years now, and I don’t think I wrote anything smart

    Diary of a Methuselah #154: Three days at the PRO.PR Conference

    Diary of a Methuselah #153: Portal Media Marketing starts a new life today

  • Mladi lideri

    Mladi liderji – Uroš Zorčič, New Moment Ljubljana: Vedno gledam na dela sama in ne postavljam v ospredje posameznih ljudi ali agencij

    Mladi liderji – Saša Droftina, Luna \TBWA: Želela bi, da bi se spremenil odnos do pitchev

    Mladi Lideri Kristina Gregorc

    Mladi liderji – Kristina Gregorc, Mercator: Zelo sem optimistična in izjemno ponosna in vesela, da sem del tako velike in uspešne ekipe

    Mladi Lideri

    Mladi liderji – Maša Crnkovič, Futura DDB: Največji izziv je vpeljava podatkov in feedback-a uporabnikov v procese dela

    Young leaders – Aneta Nedimović, New Moment Belgrade: Articulating ideas and the value of those ideas is an art form and a skill

    Mladi liderji – Matjaž Muhič, ArnoldVuga: Želel bi več časa za razmislek, za delo, za raziskovanje

  • Tri pitanja

    Robert Wester: Strategic communications is at the top of the European Commission’s agenda

    Chris Pomeroy: Tourism in 2019 accounted for 1 in 10 jobs on the planet and until now it was resilient to all manner of crisis

    Andrey Barannikov: The role of PR in Russia is changing and becoming more strategically important both for brands and communication agencies

    francis-ingram-naslovnica

    Three questions for Francis Ingham, Managing Director of the Public Relations and Communications Association (PRCA) & Chief Executive of the International Communications Consultancy Organization (ICCO)

    3 questions for Svetlana Stavreva, President of the International PR association (IPRA): Today, people are demanding that organizations do what they promised

    Three questions for Petra Krulc, Senior Vice President of Celtra

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Home Topic of the week

Juha Teljo: Analytics is the next great enabler allowing leaps in business to happen

IBM’s expert in business intelligence and predictive analytics says embracing analytic tools can be a pleasant experience

16/06/2016
in Topic of the week
6 min read
Juha Teljo: Analytics is the next great enabler allowing leaps in business to happen 2

Drugi jezik na kojem je dostupan ovaj članak: Bosnian

While preparing our weekly topic dedicated to business intelligence and predictive analytics as a means for stepping up your marketing efforts, we encountered some terms, phrases and names that sound quite intimidating. But with the right tools, it turns out they’re much simpler to use and understand. So we thought, who better to ask to dispel our apprehension than one of the people dedicated to this field in Europe. Enter Juha Teljo, Business Intelligence Solutions Executive for IBM Europe. Mr. Teljo has 20+ years of experience in various aspects of business analytics, business intelligence and performance management. He was one of the first employees of Cognos in Finland and played a key role in the development of the business intelligence market. After IBM’s acquisition of Cognos Inc, he was appointed the Nordic Manager of IBM’s Business Intelligence and Performance Management business unit, and is currently managing business intelligence solutions at the European level.

Mr. Teljo has a wide range of experience in helping all kinds of organizations develop business intelligence and performance management solutions. He can understand both deep technical issues and strategic management issues. He has presented widely on the topics of business analytics, information management and performance management, so we decided to learn a thing or two from him.

Media Marketing: How would you rate the South East Europe companies, especially in the Balkans? Where do we stand in comparison to other countries of the world in terms of using predictive analytics?

Juha Teljo: Predictive analytics has certainly been embraced in some of the competitive industries in consumer markets like telco and retail. However, the general adoption of predictive analytics in companies is still lagging behind the US or more developed European countries.

Media Marketing: Do you see opportunities for companies in this region? Can they do better business than now?

Juha Teljo: Absolutely! It is hard to imagine an organization that would not benefit from analytics. The ability to do better business comes from being able to make better decisions faster at the point of impact. This really means infusing the power of analytics into processes. This allows organizations to scale their expertise and make every touch point with their customers matter.

Every call center agent can understand what the next best offer to make to a client is, based on a predictive model, while talking to the client. Marketing messages can reach clients with personalized content for the right device at any given time of day. Weather data or a social media pulse can be combined with sales information to create promotions at store locations in near real-time. The possibilities are endless. Many organizations have been walking the path of optimizing costs and streamlining operations for a long time and it is hard to make significant leaps through that anymore. Analytics is the next great enabler to allow leaps in business to occur.

Media Marketing: The first budget cuts are usually made in the marketing department. How can a CMO convince a CEO that predictive analytics is something they should invest in and use in their company?

Juha Teljo: It is a KPI game. CMOs need to become better at proving their value in impacting key metrics in their organizations. The CMO needs to be able to prove that it will make an impact on a performance indicator that everyone agrees moves the needle for the company. Predictive models are put in place to make a significant difference for those indicators and that change can and must be monitored. Too often predictive analytics projects are described on the basis of technical ability, like the statistical algorithms used or exotic data sources accessed. But in reality they are really business projects, the outcome of which everyone should understand.

So if a company believes that keeping customers is vital to success and a 5% change in churn moves revenue up 3m, that outcome is what a predictive churn model needs to deliver. The success of predictive analytics projects must be monitored and communicated in business KPIs that matter and of course it is often the monetary amounts that determine where the investment goes. The ability to do this is making it easier to build confidence and understanding and of course get buy in to move to new areas where analytics can make a difference.

Media Marketing: Which solutions would you recommend to a CMO, which tools?

Juha Teljo: There are many different information requirements in a marketing department every day, which vary a lot in their nature. Many of them are one of those issues that require access to various sources, old and new. Some of them may be entire programs targeting a specific business area such as cross-sell, upsell, churn etc. So the tools used must be able to scale from handling 100s of everyday questions to being able to drill into insightful discoveries from some of them. But in the end, the goal should be operationalizing analytics in the point of impact in the company. So let’s mention a couple that IBM provides:

Watson Analytics is a cloud service that allows business users to start answering daily business questions immediately. Watson Analytics is a next generation data discovery tool targeted at every business user. It analyzes data through powerful algorithms and is able to provide the user with insights that would be hard to see just by looking at the figures.  Watson Analytics uses natural language (English) to let the user ask further questions from the data and gives answers in the form of powerful visualizations.  It also gives access to social media content such as Twitter, as well as access to weather data and other data sources.

SPSS Modeler is a predictive analytics solution allowing users to create powerful predictive models and to deploy them. Even though Modeler provides the depth to build the most sophisticated models, it is designed for the business user. The user operates it through an easy to use graphic interface working with easy visual cues to build a model. SPSS Modeler allows the user to easily control the entire analytical stream. This scales to the entire spectrum of predictive analytics starting from infusing and manipulating data to selecting the best algorithms for the job and finally deploying results like scores, segments and clusters to the desired target application.

Media Marketing: A lot of CMOs are simply afraid of such tools, because they are not IT people. Do you need any special background to understand and use these tools?

Juha Teljo: It is true that there is too much mystery built into the discussion around analytics. Data science can easily be described as something math PHDs can contribute to. But creating predictive models cannot come from data scientists alone, it simply isn’t scalable! Business users must be included for scale, and more importantly, driving meaningful business results.

Technology needs to adapt to the user, not vice versa! Predictive modelling is a great example of this. It sounds and can be very complicated if the user needs to learn programming languages or have a degree in statistics. But with tools like SPSS Modeler or Watson Analytics, users with different technical capabilities can all become productive immediately as the tools are designed with the user in mind. This leaves the rare data scientist the resources to be able to do the really complicated analytical tasks and further optimize the work started by the business. So no need to fear – embracing analytic tools can be a pleasant experience!

Media Marketing: How and where can CMOs learn more?

Juha Teljo: IBM provides a lot of information regarding different analytical capabilities and solutions that are relevant to the CMO. Below are a few links:

Marketing use cases

https://www.ibm.com/analytics/us/en/case-studies.html#businessneed=marketing

Customer analytics

http://www.ibm.com/analytics/us/en/business/customer-analytics.html

About predictive analytics tools:

http://www.ibm.com/analytics/us/en/technology/predictive-analytics/

You can find more about data driven marketing in South East Europe here: https://ibm.biz/Bd46At

Tags: IBMpredictive analytics
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