September 5, 2016 Health and Biotech Analytics News Roundup

Notable health and biotech analytics news and opinion from last week:

ONC announces Blockchain challenge winners: The Office of the National Coordinator for Health Information Technology has announced the 15 winning papers of its “Use of Blockchain in Health IT” challenge.

The Internet of Things for Pharmaceutical Manufacturing: Pharmaceutical companies make manufacturing more efficient and smaller-scale with advanced sensors.

Data-Driven Personas Help Break Life Sciences Out Of The Compliance Slump: Healthcare companies are classifying patients  into “risk-based personas” for better treatment.

The Federal Government Can Use Analytics to Save Lives: Phil Goldstein interviews Steve Bennet, the former director of the National Biosurveillance Integration Center, about public health analytics.

Intelligent Planning Is Key for Healthcare Big Data Analytics: Brian Lancaster is building an analytics program at Nebraska Medicine. He breaks down the approach needed to build a functional data warehouse.

Source by pstein

Jul 26, 18: #AnalyticsClub #Newsletter (Events, Tips, News & more..)

[  COVER OF THE WEEK ]

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Trust the data  Source

[ LOCAL EVENTS & SESSIONS]

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[ AnalyticsWeek BYTES]

>> @ChuckRehberg / @TrigentSoftware on Translating Technology to Solve Business Problems #FutureOfData by v1shal

>> Malaysia opens digital government lab for big data analytics by analyticsweekpick

>> Customer centric fix to save Indian Maharaja (Air India) from financial mess by v1shal

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[ NEWS BYTES]

>>
 University of Akron’s College of Business Administration to build $5.2 million Professional Development Center – Crain’s Cleveland Business Under  Business Analytics

>>
 Data Center Virtualization Market Top Manufactures, Challenges And Drivers By 2026 – Coherent Chronicle (press release) (blog) Under  Virtualization

>>
 Google and Coursera launch a new machine learning specialization – TechCrunch Under  Machine Learning

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[ FEATURED COURSE]

Applied Data Science: An Introduction

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As the world’s data grow exponentially, organizations across all sectors, including government and not-for-profit, need to understand, manage and use big, complex data sets—known as big data…. more

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The Signal and the Noise: Why So Many Predictions Fail–but Some Don’t

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People love statistics. Statistics, however, do not always love them back. The Signal and the Noise, Nate Silver’s brilliant and elegant tour of the modern science-slash-art of forecasting, shows what happens when Big Da… more

[ TIPS & TRICKS OF THE WEEK]

Grow at the speed of collaboration
A research by Cornerstone On Demand pointed out the need for better collaboration within workforce, and data analytics domain is no different. A rapidly changing and growing industry like data analytics is very difficult to catchup by isolated workforce. A good collaborative work-environment facilitate better flow of ideas, improved team dynamics, rapid learning, and increasing ability to cut through the noise. So, embrace collaborative team dynamics.

[ DATA SCIENCE Q&A]

Q:Give examples of bad and good visualizations?
A: Bad visualization:
– Pie charts: difficult to make comparisons between items when area is used, especially when there are lots of items
– Color choice for classes: abundant use of red, orange and blue. Readers can think that the colors could mean good (blue) versus bad (orange and red) whereas these are just associated with a specific segment
– 3D charts: can distort perception and therefore skew data
– Using a solid line in a line chart: dashed and dotted lines can be distracting

Good visualization:
– Heat map with a single color: some colors stand out more than others, giving more weight to that data. A single color with varying shades show the intensity better
– Adding a trend line (regression line) to a scatter plot help the reader highlighting trends

Source

[ VIDEO OF THE WEEK]

@AnalyticsWeek: Big Data at Work: Paul Sonderegger

 @AnalyticsWeek: Big Data at Work: Paul Sonderegger

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[ QUOTE OF THE WEEK]

It is a capital mistake to theorize before one has data. Insensibly, one begins to twist the facts to suit theories, instead of theories to

[ PODCAST OF THE WEEK]

#FutureOfData with @theClaymethod, @TiVo discussing running analytics in media industry

 #FutureOfData with @theClaymethod, @TiVo discussing running analytics in media industry

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[ FACT OF THE WEEK]

And one of my favourite facts: At the moment less than 0.5% of all data is ever analysed and used, just imagine the potential here.

Sourced from: Analytics.CLUB #WEB Newsletter

25 Hilarious Geek Quotes for Geek-Wear


Many blogs are pointing to that 2013 will be year of the geeks. If you are one, what best way to show than wear your favorite geek quotes. I have been researching some geek quotes, which has a tinge of humor and geek. I came across these 25 quotes across various lists that are suitable as a good geek humorous quotes list.

  1. Roses are #FF0000, Violets are #0000FF. All my base Are belong to you someone on SlashDot.
  2. 1f u c4n r34d th1s u r34lly n33d t0 g37 l41d
  3. A computer lets you make more mistakes faster than any invention in human history – with the possible exceptions of handguns and tequila.
  4. A penny saved is 1.39 cents earned, if you consider income tax.
  5. Alert! User Error. Please replace user and press any key to continue
  6. Better to be a geek than an idiot.
  7. Concept: On the keyboard of life, always keep one finger on the escape button.
  8. Enter any 11-digit prime number to continue…
  9. Failure is not an option — it comes bundled with Windows
  10. Girls are like Internet Domain names; the ones I like are already taken.
  11. I spent a minute looking at my own code by accident. I was thinking “What the hell is this guy doing?”
  12. I would love to change the world, but they won’t give me the source code
  13. I’m not anti-social; I’m just not user friendly.
  14. If at first you don’t succeed, call it version 1.0
  15. If builders built buildings the way programmers wrote programs, then the first woodpecker that came along would destroy civilization. Weinberg’s Second Law
  16. In a world without fences and walls, who needs Gates and Windows?
  17. JUST SHUT UP AND REBOOT!!
  18. Microsoft: You’ve got questions. We’ve got dancing paperclips.
  19. My Software never has bugs. It just develops random features.
  20. People say that if you play Microsoft CDs backwards, you hear satanic things, but thats nothing, because if you play them forwards, they install Windows.
  21. Software is like sex: Its better when its free.
  22. The glass is neither half-full nor half-empty: it’s twice as big as it needs to be.
  23. There are 10 types of people in the world: Those who understand binary and those who don’t.
  24. There is no place like 127.0.0.1.
  25. Who needs friends? My PC is user friendly.

Source: 25 Hilarious Geek Quotes for Geek-Wear by v1shal

Innovation at The Power of Incubation

Innovating at The Power of Incubation
Innovating at The Power of Incubation

Having worked with corporate innovation and seen innovations evolving in different sectors, it became easier to imagine what an innovation cycle entails. Some companies do it better than the others, but most of the companies spend a lot of money on innovation with less visibility on the outcome and returns. And, in large corporates, a strong sense of bias still exists at all levels that could taint the disruptive idea even before it can be executed well. So, how to fix that?
Organize an incubator to disrupt your business. Wait don’t panic, let me explain how it could really help a fortune company stay in business for a sustainable, foreseeable future. Incubators are the next level of business case competition, but more rigorous, longer duration and more effective. In an incubator, you just don’t get the next big idea for the company, but also get the one that can be executed in most effective way.

Here are my 5 reason on why it is relevant:

1. It lets you find out the opportunities that were not visible to your focused eyes: Startup entrepreneurs have an open mind to try out the most amazing and complex projects. Also, they don’t have the restrictions (legal, bureaucracy, brand impact, accountability to shareholders) that large corporates have that pose as a big hurdle in innovation. Startups are also free from multiple biases that large corporations are plagued with. Hence, it is much easier and faster to innovate and try out new things in a lean manner and in a bureaucracy free startup environment. Incubators bring out the best of the both worlds, where the best minds are competing to bring the best products to market and where the corporates provides the necessary support and is its culture is not able to taint the ideas.

2. Stay close to the ideas that could disrupt your market and sleep better: What salesforce did to Oracle, and what amazon did to retail stores is not something you would be looking forward to. So, if you are not keeping your eyes and ears open to next disruption, you might miss the very last boat that will let you afloat. Incubators can act as a breeding ground for disruptive ideas not just for your current market landscape, but also things that might change the marketplace for your goods in the future for forever. So, it provides you an opportunity to grow in your land as well as in neighboring lands while investing limited resources.

3. Opportunity to hire entrepreneurs which rarely show up in HR resume: Incubators could be a great place to spot talent especially people who are motivated to endure in the land of unknown and can make things happen. It is HR’s dream to hire those 20% that lifts 80% of the company and take them to GREEN zone. I have been at numerous roles and seen variable talent pool. True entrepreneurs always stand out; hustling, giving their 110% heart and soul to make things happen. Money does not motivate them, but creating something useful does. Every company craves for people with out of the box thinking, lean, fast and ambitious to make things happen. In favor of sustainability, this is the talent that each organization needs especially for fostering innovation and success.

4. Keeps you current, sexy and relevant: Whether we talk about Larry Ellison discussing the concept of cloud/big data as fluff, or Steve Ballmer laughing at iPhone or Blackberry’s tumble. Every big conglomerate lives in their bubble, they have limited sized window that shows them the world they live in. Reality distortion is almost true for all big companies, bigger the size, thicker the lens, poorer the vision. Startups have the tendency to stay current and act on latest and greatest methodologies that exists today. Big companies get that know-how free if they are associated with startups. They could be part of what and how the world is changing and what roles startups play, so they can adept their practices and stay current. Companies don’t need to invest millions to get ideas on staying current, sometimes all it takes is thousands to make the difference.

5. Good karma points, positive PR and strong brand building: Last but not the least; incubators can really help a brand image of the large corporates, as startups are considered to be interesting, sexy and young. They attract the youth and the early adopters. Press and media want to find out and write about the next big idea in the industry. So, being attached to an incubator and startups gets you good media coverage and publicity and creates brand awareness. It also creates positive vibes in the old consumers and reinforces their support for the brand and attracts new customers.

There are many large corporates that have leveraged incubation as a technique to get an edge over innovation in their industries, namely – Pepsi, GE, Nike, Microsoft etc. All these companies are pioneers in their respective fields and have leveraged and profited from their involvement with the incubators and startups.

What should we do?

No, you don’t have to get into the incubation business; there are tons of incubators out there. Find one and partner with them to get you going on the road to fix some of the innovation loopholes that could not be fixed by data innovation. Yes, big data innovation is still super relevant and yes, incubators could help you innovate as well. So, there is more than one easy, cost effective, and optimal ways for big enterprises to innovate.

Here is a quick video by Christie Hefner on designing a corporate culture that is open to all ideas.

Originally Posted at: Innovation at The Power of Incubation by d3eksha

Jul 19, 18: #AnalyticsClub #Newsletter (Events, Tips, News & more..)

[  COVER OF THE WEEK ]

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Correlation-Causation  Source

[ LOCAL EVENTS & SESSIONS]

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[ AnalyticsWeek BYTES]

>> After trying its own data center, Zynga retreats to the cloud by analyticsweekpick

>> Measuring Customer Loyalty is Essential for a Successful CEM Program by bobehayes

>> In a Word: The Customer Sentiment Index by bobehayes

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[ NEWS BYTES]

>>
 New ETF Targets AI, Big Data – ETF.com Under  Big Data

>>
 Sydney Uni harvests big data to boost crops – iTnews Under  Big Data

>>
 The Next Generation of DevOps: ML Ops – insideBIGDATA Under  Data Science

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The Analytics Edge

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This is an Archived Course
EdX keeps courses open for enrollment after they end to allow learners to explore content and continue learning. All features and materials may not be available, and course content will not be… more

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The Misbehavior of Markets: A Fractal View of Financial Turbulence

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Mathematical superstar and inventor of fractal geometry, Benoit Mandelbrot, has spent the past forty years studying the underlying mathematics of space and natural patterns. What many of his followers don’t realize is th… more

[ TIPS & TRICKS OF THE WEEK]

Fix the Culture, spread awareness to get awareness
Adoption of analytics tools and capabilities has not yet caught up to industry standards. Talent has always been the bottleneck towards achieving the comparative enterprise adoption. One of the primal reason is lack of understanding and knowledge within the stakeholders. To facilitate wider adoption, data analytics leaders, users, and community members needs to step up to create awareness within the organization. An aware organization goes a long way in helping get quick buy-ins and better funding which ultimately leads to faster adoption. So be the voice that you want to hear from leadership.

[ DATA SCIENCE Q&A]

Q:What are the drawbacks of linear model? Are you familiar with alternatives (Lasso, ridge regression)?
A: * Assumption of linearity of the errors
* Can’t be used for count outcomes, binary outcomes
* Can’t vary model flexibility: overfitting problems
* Alternatives: see question 4 about regularization

Source

[ VIDEO OF THE WEEK]

Data-As-A-Service (#DAAS) to enable compliance reporting

 Data-As-A-Service (#DAAS) to enable compliance reporting

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[ QUOTE OF THE WEEK]

War is 90% information. – Napoleon Bonaparte

[ PODCAST OF THE WEEK]

#BigData @AnalyticsWeek #FutureOfData #Podcast with @MPFlowersNYC, @enigma_data

 #BigData @AnalyticsWeek #FutureOfData #Podcast with @MPFlowersNYC, @enigma_data

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[ FACT OF THE WEEK]

The Hadoop (open source software for distributed computing) market is forecast to grow at a compound annual growth rate 58% surpassing $1 billion by 2020.

Sourced from: Analytics.CLUB #WEB Newsletter

Australian businesses failing to explore bigger data

Despite some big data vendors claiming Australia is leading the big data analytics trend, businesses here are well behind their US counterparts.

That is the view of Ovum research director Steve Hodgkinson who addressed a Big Data conference at CeBIT last week.

Australian organisations are still only analysing their own data and are missing the business opportunities that large volumes of external data can bring to their organisation, he told IT Pro.

“CIOs [chief information officers] have neglected the external information part of their role. But more and more decisions will need to be made from analysing outside data.”

A logisitics company should, for example, analyse data from traffic flows to route transportation vehicles more efficiently, Dr Hodgkinson said. Data from smarter buildings with sensors installed throughout could reduce maintenance costs and increase safety by providing patterns of heat build-up.

Such external sources are yet to be tapped in Australia.

Furthermore, the increasing number of devices connected to the internet in the ‘Internet of Things’ will increase the amount, variety and complexity of data available to be analysed.

CeBIT’s Big Data conference explored how organisations could draw insights from all this data to make better business decisions.

Chairing the panel, Anthony Coops, business intelligence and analytics partner at KPMG said variety and accuracy of big data can’t be ignored.

Mr Coops said a car manufacturer analysed its voluminous internal data to find out what was important to customers, but when cross-checked with customer feedback found that only one of four characteristics actually mattered, with two extra characteristics identified and validated.

But getting big data projects off the ground was challenging for organisations. “By its very nature, big data analytics focuses on uncovering patterns, trends and predictions as yet unknown.”

He said this brings a degree of uncertainty that unsettles executives who want more tangible outcomes before investing in big data.

Tips

Mr Coops suggested businesses should start slow, and first identify problems that need to be solved, and if they can be solved by big data. “Then start with a pilot (or) proof of concept that is relatively easy to execute and will deliver results to help address one or more of those problems.”

Many businesses find big data overwhelming, Dr Hodgkinson said. “It requires a back-to-basics of information. How do you store it? How do you access it? How do you mine it? It’s about having internal skill development to understand how to process and analyse (increasing) external data.”

Trends

Big data used to be purely about volume, but it is now more around the complexity of the data, which brings in notions of variety, speed and accuracy as well, Mr Coops said.

Dr Maria Milosavljevic, CIO of the Australian Crime Commission, presented a case study on harnessing unstructured data at the conference, said mining comments for sentiment was a continuing challenge.

’Wonderfully horrid’ has both a positive and negative word. Is this comment positive or negative? Which one do I go with?”  A human could work this out, but the software has difficulty,” she told IT Pro.

In the future Dr Milosavljevic expects to see specialist data mining built around terms specific to each industry.

“It’s not possible to create a one-size-fits-all that is useful for all businesses.”

Originally posted via “Australian businesses failing to explore bigger data”

Source: Australian businesses failing to explore bigger data by analyticsweekpick

Birst shapes data analytics around the user

Data is in many ways the lifeblood of business, yet there are many different ways to present and use the results of analysis.

Business intelligence specialist Birst is launching its Birst 5X Adaptive User Experience which allows users to work with data in the way they want without suppressing their curiosity and creativity.

The new release includes updates to Birst Dashboards and Visual Discovery Capabilities, and an enhanced Birst Mobile experience. In addition it introduces an Open Client Interface that enables users to continue with their preferred front-end tool, such as Tableau, Microsoft Excel or R, to analyze a trusted source of data in the form of Birst’s User Data Tier.

Allowing people to use their tool of choice on top of a complete and trusted source of data delivers a two-tier analytics model that combines agility with governance. The BI solution adapts to a person’s mobile work style too so that key business insights are available anywhere and anytime.

“Birst is continuing to pioneer a two-tier approach to BI and analytics. With Birst 5X we are rethinking the user experience by focusing on how people interact with data instead of putting them in a rigid user role”, says Junaid Saiyed, VP Product Management and Engineering, Birst. “Birst 5X gives people an agile experience that adapts to their work style, whether they need operational dashboards or visual discovery, in the office or on the road, and all against a trusted source of truth”.

Birst 5X allows users to seamlessly switch between modes so they can use both dashboards and visual discovery. It supports disconnected analysis on mobile devices so that users can access critical information wherever they are. A responsive design also adjusts how the data is displayed based on the form factor of the device.

You can find out more about Birst’s two-tier analytics technology on the company’s website.

Originally posted via “Birst shapes data analytics around the user”

Originally Posted at: Birst shapes data analytics around the user

Jul 12, 18: #AnalyticsClub #Newsletter (Events, Tips, News & more..)

[  COVER OF THE WEEK ]

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Productivity  Source

[ LOCAL EVENTS & SESSIONS]

More WEB events? Click Here

[ AnalyticsWeek BYTES]

>> Follow the Money: The Demand for Deep Learning by jelaniharper

>> Apache Spark for Big Analytics by thomaswdinsmore

>> The Horizontal Impact of Advanced Machine Learning: Network Optimization by jelaniharper

Wanna write? Click Here

[ NEWS BYTES]

>>
 The Next Step for Hybrid Cloud in Infrastructure and Operations – CIOReview Under  Hybrid Cloud

>>
 The Four C’s Of Winning With IoT – Forbes Under  IOT

>>
 Pioneering data science tool — Jupyter — receives top software prize – UC Berkeley Under  Data Science

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Master Statistics with R

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In this Specialization, you will learn to analyze and visualize data in R and created reproducible data analysis reports, demonstrate a conceptual understanding of the unified nature of statistical inference, perform fre… more

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Antifragile: Things That Gain from Disorder

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Antifragile is a standalone book in Nassim Nicholas Taleb’s landmark Incerto series, an investigation of opacity, luck, uncertainty, probability, human error, risk, and decision-making in a world we don’t understand. The… more

[ TIPS & TRICKS OF THE WEEK]

Finding a success in your data science ? Find a mentor
Yes, most of us dont feel a need but most of us really could use one. As most of data science professionals work in their own isolations, getting an unbiased perspective is not easy. Many times, it is also not easy to understand how the data science progression is going to be. Getting a network of mentors address these issues easily, it gives data professionals an outside perspective and unbiased ally. It’s extremely important for successful data science professionals to build a mentor network and use it through their success.

[ DATA SCIENCE Q&A]

Q:Explain the difference between “long” and “wide” format data. Why would you use one or the other?
A: * Long: one column containing the values and another column listing the context of the value Fam_id year fam_inc

* Wide: each different variable in a separate column
Fam_id fam_inc96 fam_inc97 fam_inc98

Long Vs Wide:
– Data manipulations are much easier when data is in the wide format: summarize, filter
– Program requirements

Source

[ VIDEO OF THE WEEK]

Venu Vasudevan @VenuV62 (@ProcterGamble) on creating a rockstar data science team #FutureOfData #Podcast

 Venu Vasudevan @VenuV62 (@ProcterGamble) on creating a rockstar data science team #FutureOfData #Podcast

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[ QUOTE OF THE WEEK]

Data are becoming the new raw material of business. – Craig Mundie

[ PODCAST OF THE WEEK]

@RCKashyap @Cylance on State of Security & Technologist Mindset #FutureOfData #Podcast

 @RCKashyap @Cylance on State of Security & Technologist Mindset #FutureOfData #Podcast

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[ FACT OF THE WEEK]

In that same survey, by a small but noticeable margin, executives at small companies (fewer than 1,000 employees) are nearly 10 percent more likely to view data as a strategic differentiator than their counterparts at large enterprises.

Sourced from: Analytics.CLUB #WEB Newsletter

Three Customer Experience Management Tips for Startups

Customer Experience Management Program Components
Figure 1. Customer Experience Management Program Components

I was invited to give a talk last week at a local incubator (Eastside Incubator) on how startups can incorporate customer experience management into their companies. Thanks to Phuoc Do from 1001 Mentorsfor the invitation. The slides to my talk are at the end of this post. The content of the post below should provide good support for the content of the slides.

Successful companies understand that, to ensure long-term sustainable growth, they must focus on providing a great customer experience. Across the entire phase of the customer life cycle (e.g., marketing, sales and service), companies lay out a strategy that will, hopefully, ensure a great customer experience and increase customer loyalty. This process of understanding and managing the customer experience is formally referred to as customer experience management (CEM). Before I provide some advice for startups, it is important to review what we know about what works in these program.

Customer Experience Management Programs

A CEM program consists of a set of organized actions that support the goal of CEM. While a CEM program has many moving parts, an easy way to organize those pieces is depicted in Figure 1. A CEM program has several major components:

  1. Strategy addresses how companies incorporate CEM into their long-term plans/vision/mission to help achieve its objectives and goals
  2. Governance describes the formal policy around the CEM program: Rules, Roles, Requests
  3. Business Process Integration involves embedding CEM processes/data into other business operations
  4. Method addresses the means by which customer feedback is collected and what gets measured
  5. Reporting addresses analysis, synthesis and dissemination of customer feedback
  6. Research is concerned with how companies provide additional customer insight by conducting deep dive research using different types of customer data

    Figure 2. Adoption Rates of Customer Feedback Program Practices of Loyalty Leaders and Loyalty Laggards
    Figure 2. Adoption Rates of Customer Feedback Program Practices of Loyalty Leaders and Loyalty Laggards

The success of your CEM program depends on how you structure it. In a study examining (see Figure 2) the differences between loyalty leading companies and loyalty lagging companies, I found that loyalty leaders, compared to their loyalty lagging counterparts, adopted specific business practices in how they approach CEM. Generally speaking, I found that loyalty leading companies have top executive support of the CEM program, communicate all aspects of the program company-wide, and integrate customer feedback to other business data (operational, financial, constituency) to gain deeper customer insights.

The Challenge for Startups

Founders of startup companies have limited resources. Coupled with plenty on their plates, founders appear to be unable to invest in programs that support processes outside of standard business practices (e.g., marketing, sales and services). They are responsible for every aspect of the company, from raising capital and creating products to implementing a marketing plan to providing support. There often is very little time/resources to devote to a formal CEM program.

A growing startup, however, can still implement key CEM best practices in a cost-effective way. Below are three things startups can do to integrate the voice of the customer in their business processes and begin to build a formal CEM program.

A free five-page introduction to the practice of customer experience management. To download the paper, simply 1) click the image, 2) tweet about it and 3) download.

1. Start with the Executives

A good first place to start your CEM journey is at the top of your organization. Through their actions and established policies, top executives set the tone and culture of the company. Without their their support, the success of any program is likely to fail. We know that companies who have executive support around the CEM program have greater success (e.g., higher customer loyalty, higher satisfaction with their CEM program) compared to companies with little/no executive support.

Here are a few things start-ups can do to improve executive-level support:

  1. Incorporate a customer-focus in the vision/mission statement. Support the company mission by presenting customer-related information (e.g., customer satisfaction/loyalty goals) in the employee handbook. Use customer feedback metrics to set and monitor company goals.
  2. Identify an executive as the champion of the CEM program. A senior level executive “owns” the customer feedback program and reports customer feedback results at executive meetings. Senior executives evangelize the customer feedback program in their communication with employees and customers. Senior executives receive training on the customer feedback program.
  3. Use customer feedback in decision-making process. Include customer metrics in company’s balanced scorecard along with other, traditional scorecard metrics. This practice will ensure executives and employees understand the importance of these metrics and are aware of current levels of customer satisfaction/loyalty. Present customer feedback results in company meetings and official documents.

4 Ways to Optimize Your Customer Survey2. Collect Customer Feedback

You cannot manage what you do not measure. These words ring true for your CEM program. Loyalty leaders collect customer feedback using a variety of sources (surveys, social media, brand communities). When you collect customer feedback, you need to consider what you measure and how you collect the feedback.

Here are a few things start-ups can do around collecting customer feedback.

  1. Conduct an annual / bi-annual customer survey. While loyalty leaders collect customer feedback using a variety of sources (e.g., relationship survey, transactional survey, web survey social media), a good start would be to start with a relationship survey conducted annually/bi-annually. See the section on Customer Relationship Diagnostic below to learn about what to ask in your survey.
  2. Measure different types of customer loyalty. Selecting the right mix of customer loyalty questions will ensure you can grow your business through new and existing customers. Determine the important customer loyalty behaviors (retention, advocacy, purchasing) and measure them.
  3. Use automated (e.g., Web) tools to collect and report customer feedback metrics. Web tools not only facilitate data collection, but with the ever-increasing adoption of a Web lifestyle, they are also becoming a necessity. Data collection via the Web is cost-effective, allows for quick integration with other data sources and speeds reporting of customer feedback. There are several free survey services you can use to start collecting customer feedback: SurveyMonkey, Zoomerang. While these free services provide reports, they do not allow you access to the raw data. Also, you might consider using Limesurvey, an open-source, enterprise-quality survey engine; Limesurvey allows you to access your raw survey data.
In addition to providing insights about how best to manage your customers, customer feedback can help startups in a variety of ways:
  1. Improving ROI: Resources are tight for startups. Startups that spend their resources wisely will outperform those who do not. Customer surveys (and accompanying analysis) can help you understand where you need to make improvements (e.g., make investments) that will improve customer loyalty
  2. Beating your competition: Knowing where your brand sits in the competitive landscape impacts your growth. Top tier companies have customers who are more willing to buy more from them compared to bottom tier companies. Collecting customer feedback can help you identify what you need to do to beat your competition and improve your growth.
  3. Acquiring capital investments: Investors use a lot of different information to identify investment potentials. Set yourself apart from other startups seeking money buy providing investment professionals information about the quality of your customer relationships.  Collecting customer feedback and using customer feedback metrics (e.g., customer loyalty) can help you estimate the monetary value of your startup. Help investors understand the quality of your relationship with your customers.

3. Share Feedback Results Company-wide

Word clouds help you convey frequencies in beautiful pictures.

A good way to build your startup around your customers is to share the results of your customer survey with the employees.

  1. Share customer feedback program results throughout the company. Use Web-based reporting tools to allow easy access to the results by all employees. Regularly publish customer feedback results to all employees via emails/reports.
  2. Use simple statistics to convey results and try to incorporate something visually interesting about the results. Avoid sharing complex results with employees that might confuse them rather than educate them. Use simple statistics like means and frequencies. Avoid using difference scores (e.g., commonly called net scores) as they are ambiguous and unnecessary. Consider using visually stunning ways to present your data. A visually stunning presentation of the data, compared to bar graphs, will more likely be examined by the consumers of your reports.
Click image to read more about the Customer Relationship Diagnostic (CRD).

Customer Relationship Diagnostic: Your Customer Survey

So, what questions do you include in your customer survey? In a series of studies, I found that short, concise surveys (N <20) provide just as much insight into understanding the customer experience as longer surveys (N > 40). Based on this research, I created a short, reliable, valid and useful customer survey called the Customer Relationship Diagnostic (CRD). The CRD includes question to measure four key areas:

  1. Customer Loyalty: Ask customers about their likelihood of engaging in different types of customer loyalty behaviors
  2. Satisfaction with the Customer Experience: Ask customers about their satisfaction with general business areas (e.g., product quality, support, service, communication)
  3. Relative Performance (Competitive Benchmarking): Ask customers how they view you compared to the competition (where you rank and why).
  4. Company-Specific: Ask customers about question unique to your need (e.g., marketing benefits, decision influencer)

Summary

Startups, to succeed, need to build a company that encourages customers to recommend their brand, buy more from them (as startups expand their product line / service offerings) and remain as a long-term customer. How can startups implement a CEM program? Based on best practices research in CEM, I offer three suggestions on how startups can begin incorporating customer feedback into their DNA.

Startups can begin by educating the leaders on the importance of the customer experience and customer loyalty to business success. The outcome of this education process is designed to instill a sense of importance of the customer in the mindset of the senior management team. Startups can easily collect customer feedback through an annual/bi-annual survey. This survey needs to focus on measuring these key areas about your customer: 1) customer loyalty, 2) customer experience, 3) how they view you relative to the competition and 4) company-specific questions. Finally, startups need to communicate the results of the customer feedback to the entire company. Sharing customer feedback company-wide lets employees know that senior management conveys the importance of the customer throughout the company.

The formation of a CEM program early in your company’s history helps build a culture that is focused around the customer. Having a formal CEM program lets potential job candidates understand the importance of the customer and helps create a culture that is focused around the customer. As your company grows, your CEM program will mature and expand, incorporating other ways of collecting customer feedback (e.g., transaction surveys, social media) as well as other sources of business data to help you build a solid customer research program.

Additional Readings to Get You Started

While it may be difficult to convince an executive about the importance of the customer, educating top executives with evidence that CEM programs are effective would go a long way to support their program. Here are some readings for those top executives. Also, included are some readings to help you understand best practices in collecting customer feedback via surveys.
  1. Customer Experience Management Defined: A good first start is to get an overview and definition of customer experience management.
  2. The Practice of Customer Experience Management: An Overview: Here is an explanation about what a CEM program looks like in practice.
  3. Best Practices in Strategy and Governance: Here is an overview of best practices in strategy and governance.
  4. Best Practices in Method and Reporting: Learn about best practices in collecting and reporting customer feedback.
  5. Two Things Everyone Needs to Know about your CEM Program: Learn how to share information about your customers to employees as well as the customers.
  6. Asking the right Customer Experience Questions: Learn about the types of questions you need to ask in a customer survey
  7. Four Ways to Improve your Customer Survey [INFOGRAPHIC]: If you don’t like reading much, here is an infographic that summarizes best practices in collecting customer feedback via surveys.

Presentation on Customer Experience Management and Startups at Eastside Incubator on 11/20/2012

Source by bobehayes

Using Big Data to Kick-start Your Career

Gordon Square Communications and WAAT offers tips about how to make the most of online resources to land a dream job – all without spending a penny.

Left to right: Vamory Traore, Sylvia Arthur and Grzegorz Gonciarz

You are probably familiar with Monster.com or Indeed.com, huge jobs websites where you can upload your CV together with other 150 million people every month.

The bad news is that it is unlikely that your CV will ever get seen on one of these websites, discovered attendees of London Technology Week event Using Tech to Find a Job at Home or Abroad.

“There are too many people looking for a small number of jobs,” says Sylvia Arthur, Communicator Consultant at Gordon Square Communications and author of the book Get Hired! out on 30th June.

“The problem is that only 20% of jobs are advertised, while 25% of people are seeking a new job. If you divide twenty by twenty-five, the result of the equation is that you lose,” explains Ms Arthur.

So, how can we use technology to effectively find a job?

The first step is to analyse the “Big Data” – all the information that tells us about trends or associations, especially relating to human behaviour.

For example, if we were looking for a job in IT, we could read in the news that a new IT company has opened in Shoreditch, and from there understand that there are new IT jobs available in East London.

Big Data also tells us about salaries and cost of living in different areas, or what skills are required.

“Read job boards not as much to find a job as to understand what are the growing sectors and the jobs of the future,” is Ms Arthur’s advice.

Once you know where to go with the skills you have, you need to bear in mind that most recruiters receive thousands of CVs for a single job and they would rather ask a colleague for a referral than scan through all of them.

So if you are not lucky enough to have connections, you need to be proactive and make yourself known in the industry. “Comment, publish, be active in your area, showcase your knowledge,” says Ms Arthur.

“And when you read about an interesting opportunity, be proactive and contact the CEO, tell them what you know and what you can do for them. LinkedIn Premium free trial is a great tool to get in touch with these people.”

Another good advice is to follow the key people in your sector on social media. Of all the jobs posted on social media, 51% are on Twitter, compared to only 23% on LinkedIn.

And for those looking for jobs in the EEA, it is worth checking out EURES, a free online platform where job seekers across Europe are connected with validated recruiters.

“In Europe there are some countries with shortage of skilled workforce and others with high unemployment,” explains Grzegorz Gonciarz and Vamory Traore from WAAT.

“The aim of EURES is to tackle this problem.”

Advisers with local knowledge also help jobseekers to find more information about working and living in another European country before they move.

As for recent graduates looking for experience, a new EURES program called Drop’pin will start next week.

The program aims to fill the skills gap that separates young people from recruitment through free training sessions both online and on location.

To read the original article on London Technology Week, click here.

Source by analyticsweekpick