The importance of delivering right-time insight
New shifts around big data, mobile computing and heightened customer expectations create new opportunities for analytics at the point of interaction with the client. Frank Fillmore, DB2 Gold consultant at The Fillmore Group, a consulting organization, offers his insight on how enterprise analytics can have a significant impact on how clients maximize the impact of cross-sell and up-sell opportunities with right-time analytics and anti-fraud initiatives.
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0:01 the trance that I'm seeing an analytics now 0:03 are focused more and more near-real-time analytics 0:07 so instead of waiting days or weeks for data to be loaded 0:10 into a data warehouse where analytics to run against that out one steal data 0:14 we're seeing customers that wanted to analytics real time when transactions 0:19 that are being processed in the moment 0:22 the 0:26 the 0:28 in data processing information technology law or there's a great story 0:32 about the convenience store then analyze their data 0:35 and found the correlation between the purchase of disposable diapers purchased 0:39 after 6 p.m. 0:40 and another product the other product was beer with the assumption that 0:44 customers 0:45 com usually males were coming home from work and somebody said 0:48 we've rounded disposable diapers they also picked up the beer in point in that 0:51 story is 0:52 how do i reconfigure my store to be able to take advantage of that 0:55 by place the beer a long distance from the disposable diapers and probably 0:59 imposed by said the chips and dips in between 1:01 so babe retailer in Europe has gone one better than that the clerk at the point 1:07 of sale to make recommendations to poor complementary products 1:10 for an unlimited variety of different market basket real talk to not 1:14 reconfiguring a store 1:15 but at the moment I purchase be able to make recommendations they're trying to 1:19 reduce the buffer between 1:21 10 transaction occurs and when analytics RR can be performed on that and usually 1:26 that's 1:26 within seconds what we're seeing today is that banks 1:29 are being able to do fraud detection for fraudulent transactions for credit cards 1:34 and four ATM transactions in being able to stop on 1:37 at the point of impact rather than waiting a week or two 1:41 were a month and somebody gets a statement says I did make that charge 1:44 and having to reimburse the cost will lose the money so what we're seeing a 1:48 huge cost savings are being able to do the analytics near real-time 1:51 in order to extract the value-added data 1:54 whether it's in terms of transaction processing into serving the customer 1:58 were being able to perform the analytics the infrastructure is very important 2:02 it makes a lotta sense instead of taking the data to the analytics take the 2:05 analytics to the data 2:07 the