Articles from Business Over Broadway

Unless you have been living under a rock, you know that Big Data is the latest buzz word in the world of business. The concept of Big Data a is broad one and I consider it an amalgamation of different areas that help us try to get a handle on, insight from and and use out of data. Pat Gelsinger, President and COO of EMC, in an article by the The Wall Street Journal said that Big Data refers to the idea that companies can extract value from collecting, processing and analyzing vast quantities of data. Businesses who can get ...

Companies, in support of their customer experience management (CEM) programs, rely heavily on the use of customer surveys as a means of collecting customer feedback. An optimal customer survey maximizes the value of the survey to both the businesses who use them and their customers who take them. This Infographic shows 4 Ways to Optimize Your Customer Survey. Specifically, businesses need customer surveys that provide reliable, valid and useful information to help run the business more effectively. Customers need surveys that let them give quick, yet meaningful feedback about their experiences. Based on research and practical experience in the CEM ...

Predictive modeling is a process by which a statistical model is chosen to best predict the probability of an outcome. The use of predictive modeling was illustrated in the excellent movie, Moneyball, in which Billy Beane, the manager of the Oakland Athletics used predictive modeling to select the players for his team. When executives make decisions about how to improve customer loyalty, they rely on many sources of information, including personal knowledge, past experiences of similar situations and even predictive models of expected performance.

I use factor analysis (more an that below) often in my customer experience management research. Specifically, I use it to help understand how to best measure customer loyalty. The value of factor analysis, however, is sometimes lost in the details. In this post, I adopt a 3D visual approach in presenting factor-analytic results of [...]

The latest buzz word in business is Big Data. According to Pat Gelsinger, President and COO of EMC, in an article by the The Wall Street Journal, Big Data refers to the idea that companies can extract value from collecting, processing and analyzing vast quantities of data. Businesses who can get a better handle on these data will be more likely to outperform their competitors who do not. When people talk about Big Data, they are typically referring to three characteristics of the data.

A successful customer experience management (CEM) program requires the collection, synthesis, analysis and dissemination of different types of business metrics, including operational, financial, constituency and customer metrics. The quality of customer metrics necessarily impacts your understanding of how to best manage customer relationships to improve the customer experience, increase customer loyalty and grow your business. Using the wrong customer metrics could lead to sub-optimal decisions while using the right customer metrics can lead to good decisions that give you a competitive edge. How do you know if you are using the right customer metrics in your CEM program? This post ...