Facing Technology Head-On
| Category: Business Development | Date: 2003-09-12 |
It’s frightening out there, with information coming at you faster than flip through your e-mails, faxes, phone calls, seminars, and Web changes . No sooner that you have evaluated one new data mining tool which you think will finally drag you out of the abyss of data then there’s another data mining tool that claims to deliver a more competitive advantage faster and cheaper.
To unscramble the confusion, let’s try to get back to what is important. The customer is the most important element in your business universe, and most customers are just like you. They, too, are overwhelmed with the gush of new technology information. All they want are products that work; and today’s customers expect a higher level of communication from the companies they do business with.
Technology is really all about relationships -- how to create, improve, keep those fires burning. The fascination of technology and its glitzy software sometimes distracts us from what the key issue is: to inform people. All the computers in the world won’t help if the user isn’t interested in the information provided.
Planning what the information ecology and topology within the enterprise is vital to understanding what has to be done. Driven by growing competition and tighter marketing budgets, companies worldwide are learning to prospect smarter, faster and more efficiently.
A key tool supporting these efforts is the custom-build customer and prospect database, which allows marketers to hand-pick the most responsive and profitable targets. The customer sees it the same way. Business to business customers what to do business with like-size companies. Consumers prefer to do business with companies that share the same values and can meet their needs on their time schedule.
Most companies are now committed to delivering a customer-centric database application deployed by way of point of contact (POS) or online. The biggest challenge for the next 12 months for most companies will be in three areas
data integration
updating the new customer information database
data mining to uncover those nuggets of golden information.
Data Integration. Once the business plan has been written and there are usually established good business reasons associated with the creation of a common customer database. The next hurdle is how to integrate that legacy data into the database, while keeping the legacy systems intact and delivering mission critical information. Data elements coming from multiple sources on various media is a problem that all companies are facing.
Updating the Customer Database. As soon as the database is constructed, it must immediately be updated. The reason: It took many months to build and is already out of date. How do we keep up with that data coming in from the different databases?
Data Mining. The process uses sophisticated statistical analysis and modeling techniques to uncover the patterns and relationships that are hidden in organizational databases patterns which ordinary methods might miss.
The Web and Other Ways of Reaching People
Everyone is working to develop more effective and efficient methods of delivering information and then custom-designing products to meet the customer’s needs. Companies like National Semiconductor are creating web sites that use search engines, each targeted to different customers and how they look for information. The majority of companies will use their Web sites to deploy customer information ubiquitously to any employee who is authorized.
What we have for the balance of 1998 is an extraordinary effort to communicate better than ever before by lowering the technological barriers; it must be is easy and seamless to access the data that people and businesses want. The need to understand and embrace the competitive landscape is demanding new forms of communication both within and outside of the organization. The lightening expansion of the Internet is also creating opportunities for data communications and services.
The management of knowledge, beyond its technical implications, demands collaboration at all levels of an organization in order to share and capture hard-won know-how and to deploy that information in the user defined form to their constituents.
Efficient communications involves understanding. The use of online analytical processing and data mining technologies can deliver to the users a deeper understanding of the key information that is locked away in their corporate databases. This new communication imperative calls for new ways to put old IT architecture together.
It’s not who you know in the next few years but what you know that will delivery the highest return on investments. Marketers who are just getting started can learn from the efforts of those in the past and embrace the new methods of communications to empower their customers to take faster action with their company.
About the author.
Robert McKim.
:To contact see details below.
DBMarkets@aol.com
http://www.msdbm.com
To unscramble the confusion, let’s try to get back to what is important. The customer is the most important element in your business universe, and most customers are just like you. They, too, are overwhelmed with the gush of new technology information. All they want are products that work; and today’s customers expect a higher level of communication from the companies they do business with.
Technology is really all about relationships -- how to create, improve, keep those fires burning. The fascination of technology and its glitzy software sometimes distracts us from what the key issue is: to inform people. All the computers in the world won’t help if the user isn’t interested in the information provided.
Planning what the information ecology and topology within the enterprise is vital to understanding what has to be done. Driven by growing competition and tighter marketing budgets, companies worldwide are learning to prospect smarter, faster and more efficiently.
A key tool supporting these efforts is the custom-build customer and prospect database, which allows marketers to hand-pick the most responsive and profitable targets. The customer sees it the same way. Business to business customers what to do business with like-size companies. Consumers prefer to do business with companies that share the same values and can meet their needs on their time schedule.
Most companies are now committed to delivering a customer-centric database application deployed by way of point of contact (POS) or online. The biggest challenge for the next 12 months for most companies will be in three areas
data integration
updating the new customer information database
data mining to uncover those nuggets of golden information.
Data Integration. Once the business plan has been written and there are usually established good business reasons associated with the creation of a common customer database. The next hurdle is how to integrate that legacy data into the database, while keeping the legacy systems intact and delivering mission critical information. Data elements coming from multiple sources on various media is a problem that all companies are facing.
Updating the Customer Database. As soon as the database is constructed, it must immediately be updated. The reason: It took many months to build and is already out of date. How do we keep up with that data coming in from the different databases?
Data Mining. The process uses sophisticated statistical analysis and modeling techniques to uncover the patterns and relationships that are hidden in organizational databases patterns which ordinary methods might miss.
The Web and Other Ways of Reaching People
Everyone is working to develop more effective and efficient methods of delivering information and then custom-designing products to meet the customer’s needs. Companies like National Semiconductor are creating web sites that use search engines, each targeted to different customers and how they look for information. The majority of companies will use their Web sites to deploy customer information ubiquitously to any employee who is authorized.
What we have for the balance of 1998 is an extraordinary effort to communicate better than ever before by lowering the technological barriers; it must be is easy and seamless to access the data that people and businesses want. The need to understand and embrace the competitive landscape is demanding new forms of communication both within and outside of the organization. The lightening expansion of the Internet is also creating opportunities for data communications and services.
The management of knowledge, beyond its technical implications, demands collaboration at all levels of an organization in order to share and capture hard-won know-how and to deploy that information in the user defined form to their constituents.
Efficient communications involves understanding. The use of online analytical processing and data mining technologies can deliver to the users a deeper understanding of the key information that is locked away in their corporate databases. This new communication imperative calls for new ways to put old IT architecture together.
It’s not who you know in the next few years but what you know that will delivery the highest return on investments. Marketers who are just getting started can learn from the efforts of those in the past and embrace the new methods of communications to empower their customers to take faster action with their company.
About the author.
Robert McKim.
:To contact see details below.
DBMarkets@aol.com
http://www.msdbm.com
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