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Industry Experts Brainstorm Winning Strategies for Road Map to Monetize "Big Data" Opportunities and How Companies Can Outperform Competition Leveraging Right Customer Analytics

In a joint webinar with Aberdeen, Big Data solutions and predictive analytics leader, Nuevora shared insights and strategies on how top performing customers like Diebold are using analytics to stay ahead of customer needs, remain competitive, and increase business value. Titled, “Uncovering Customer Insight in Big Data,” the webinar included Aberdeen research analyst, Nathaniel Rowe, marketing intelligence services director at Diebold Inc., Tom Starek and founder and CEO of Nuevora, Phani Nagarjuna.

Tom Starek, Director, Market Intelligence Services, Diebold Inc. (Photo: Business Wire)

Tom Starek, Director, Market Intelligence Services, Diebold Inc. (Photo: Business Wire)

The experts brainstormed trends, opportunities and challenges ahead concluding that the right Big Data and analytics strategy will be the game changer for market leaders across every vertical, and how enterprise leaders in big data programs are beginning to differentiate themselves from competitors, and slow adopters by matching advanced analytic plans with a blend of specialists and business demands.

Webinar Participants:

Tom Starek, Director, Market Intelligence Services, Diebold Inc.

Tom Starek is Director of Market Intelligence Services, Diebold, Inc. He and his team provide market and competitive intelligence to various constituencies throughout the organization as well as customers.

Nathaniel Rowe, Research Analyst, Aberdeen

Nathaniel Rowe is with the Enterprise Data Management practice at Aberdeen Group. He focuses on the rapidly growing volume of business data, and the Best-in-Class practices for the creation, capture, management and analysis of this information. His research topics cover everything from physical documents, unstructured data, master data records, and the ever “Big Data” problem facing modern companies.

Phani Nagarjuna, Founder & CEO, Nuevora

Founder and CEO, Phani Nagarjuna is a results-driven software and technology industry executive with proven success in building and growing organizations globally. He has over 15 years of successful executive leadership experience in corporate turnaround, strategy, sales, marketing, and product management across big data analytics, software, and IT industries.

Webinar Link:

Click here to view the complete webinar to learn more on how companies like Diebold are Uncovering Customer Insight in Big Data.

Select Webinar Highlights, Expert Insights & Executive Quotes:

  • Aberdeen stated that companies that have taken on big data initiatives have a 4 percent greater rate of customer growth year-over-year than their counterparts who have not taken on these advanced analytic capabilities. Rowe said that big data programs can’t be directly linked to profitability, only that these successful companies were the ones investing in and expanding big data plans. However, this “hand-in-hand” business growth and big data adoption does reveal insight into what enterprises are going after with big data programs and what separates successful and struggling initiatives.
  • Nagarjuna said organizations leveraging analytics understand their customers better, and can better anticipate their ever-changing product needs, including their communication preferences, life styles and economic migration, giving them an edge over their competitors. At the same time, they are able to track the impact of other competitive products. These types of insights help them make smarter decisions and realize better business outcomes as in Diebold’s case.
  • Nuevora’s Nagarjuna also discussed in detail how companies can drive growth using context-sensitive and just-in-time predictive insights from customer behavior and market level data. Applied to high-volumes and complex streams of unstructured and structured data, Nuevora’s Big Data Analytics Platform, proprietary Big Data Analytics Apps coupled with the expertise of top-end data scientists has helped leading enterprises in competitive industries achieve measureable business benefits.
  • Nuevora’s customer, Diebold discussed the company’s experience with deriving predictive insights from Big Data, specifically how they are intelligently consolidating structured and unstructured data from multiple sources. Starek explained the use of Nuevora’s solutions in the process and outlined Diebold’s big data project to understand banking customer channel preferences and fill out possible blind spots in their strategy and business information.
  • Leveraging Nuevora’s solutions, Diebold found that only 3 percent of consumers were focused on one way to access their banking information. Weeding through large sets of varied data, the company quite unexpectedly found that the smartphone access to banking was its biggest growth opportunity. “Nuevora is a strategic partner in this journey to understand our customers. We do a lot of market research. One thing we don’t do enough of is look at it from a consumer perspective,” said Starek. “We wanted to be able to understand what was going on from a channel perspective in a much deeper way than we had done in the past. That is why we got Nuevora involved and we found the right answers.”
  • The experts unanimously agreed collecting and storing data is only an important first step. Success will be finding real value and insight from this data. Phani pointed out that organizations are bombarded with data from a variety of sources and there is pressure to analyze every piece of data. “The key is how we quickly eliminate noise through signal,” said Nagarjuna. “Given a particular problem, at Nuevora, we pipe in all the data in the initial level but the algorithms quickly determine, based on the problem-specific goals of the project which pieces of information are noise and which are relevant.”

Data is all about insight. “Through the combination of technology, proprietary algorithms, focused apps, and human prowess, Nuevora provides a smarter way to extract value from big data that companies are sitting on. The whole point of the big data movement is to provide the necessary insight with rapid speed and accuracy, not just to collect data. Organizations will have to take a more holistic view,” said Nagarjuna. “This is where Nuevora comes in. We look at all the data and make it actionable and provide significant insight around innovation, marketing and customer value.”

The experts concluded that the right analytics strategy helps companies achieve enhanced revenues, higher levels of customer profitability and marketing ROI in the short, and long haul. Learn More on Nuevora Website.

About Nuevora

Nuevora is a unique Big Data analytics solutions provider that helps leading organizations achieve positive, high-impact business outcomes through the delivery of continuous and context-sensitive predictive insights. Nuevora’s analytics platform enables faster, scalable, and intuitive development and application of predictive insights by business users. Nuevora’s solutions are built as dynamic predictive apps targeted to optimize specific business problems across a given business process. Leveraging a combination of data science, predictive algorithms, and big data technologies, Nuevora’s strong team of data scientists and consultants help organizations implement smarter decisions across entire customer life cycle. The company works with some of the leading corporations in retail, financial services, insurance, high-technology, travel services, and other industries. Nuevora’s vision is to be a leader in delivery of cloud-based advanced business analytics apps for targeted business problems. Nuevora is headquartered in San Ramon, CA, and operates an analytics center of excellence in India.

About Business Wire
Copyright © 2009 Business Wire. All rights reserved. Republication or redistribution of Business Wire content is expressly prohibited without the prior written consent of Business Wire. Business Wire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

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