Tuesday, February 9, 2010
I repay the favor by telling everybody how cool Guy's Alltop site is. See the About page for more information, but Alltop is a aggregation site collecting the top articles from news sites and blogs on hundreds of interesting topics.
It might also be about selling insight into who buys your beans!
A Tel Aviv-based startup called Pursway (formerly Datanetis) is getting $6 million USD in funding to build BI software that can sort through retail transactions to identify who influences a company's product or services sales. Calling their application "breakthrough," they claim it will change the way companies deal with their customers. Read more about this on the Xconomy website.
This sounds vaguely similar to what The Kroger Co. has been doing for years with their partner Dunnhumby USA. Marketing experts (and spouses) Dunn and Humby had worked with United Kingdom supermarket chain Tesco to turn it into a powerhouse using a new concept of customer loyalty programs.
Kroger worked with the UK couple to take this idea to the next level. They recognized that, in addition to increasing grocery store revenues, loyalty cards provided a goldmine of retail knowledge nuggets. With the customer's identity now associated with a card that is swiped with each transaction, Kroger can tie individual people to purchases. With demographic information, they can associate product purchasing with specific groups of customers and make better decisions.
But that insight is important to other firms as well. Instead of using the data just for its own purposes, Kroger can share it with their product suppliers such as Kraft, Nestle, and Procter & Gamble. In the past, these firms would not have known exactly who bought their products at the Kroger store. Now, consumer product goods companies can purchase customer information from Kroger (probably at a bigger profit margin than Kroger sells those cans of beans).
Are you sitting on a goldmine of data?
Perhaps some BI software could help you turn those digital bits and bytes into cold hard cash.
With over 20 years of industry experience, Doug Lautzenheiser has provided business intelligence services for well-known organizations such as Procter & Gamble, JPMorgan Chase, Omnicare, Wendy’s International, the State of Indiana, and the State of Oklahoma. ComputerWorld recognized one of Doug's projects with honors for innovative use of technology. Doug is a featured blogger on BI software at Smart Data Collective.
With his broad knowledge of technologies, business processes, and industry best practices, Doug provides client value by performing strategic advisory services; leading tactical BI application development projects; and enabling dramatic reductions in time, cost, and risks through his unique automated BI consolidation application.
Doug has hands-on experience with a variety of enterprise applications. He is degreed summa cum laude in Information Systems from the University of Cincinnati. An experienced trainer and mentor, Doug has provided educational services to organizations such as National Semiconductor, Ford Motor Company, Northwest Airlines, Principal Financial Group, and Target Stores. Doug is the owner of Kencura Systems.
Talk to Doug before manually performing a large BI initiative. Doug will show you how other smart companies saved time and money by following proven methodologies and automating BI processes instead of letting somebody "wing it" with a manual approach.
B2B software vendor leadership. BI implementations, standardization, and consolidation; data warehousing; WebFOCUS; iWay; BI vendors (Cognos, SAP Business Objects/Crystal Reports, Microstrategy, Actuate, Hyperion/Brio, SAS, Tableau Software); ERP; and full SDLC.