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26
Sep

Sentiment Analytics, Twitter, Federal Reserve and Consumer Pyschology


Social media captures consumer sentimentWhat do these have in common:  The Federal Reserve Bank, Text Analytics, Facebook, Statistical Computations, Big Data and Keyword/Phrase/Boolean searching?

Interestingly these are more related than you think.

The Federal Reserve wants to develop a next generation Consumer Listening Platform based on social media sentiment analytics (or opinion mining) to know what people are saying and commenting about the economy.

The goal for the Fed is to better understand which way consumer confidence is trending. Microeconomics and psychology have always been interlinked. With social media, a real-time opportunity exists to monitor local, national and even global consumer psychology. And, coupled with analyzing e-commerce transactions, insightful linkage between consumer psychology and behavior (what they are spending money on and where) is possible. Read more »

7
Sep

Do you have BI Performance Anxiety ?


BI is key to enabling companies to turn oceans of data into predictive models and actionable decisions. However, a survey of 353 executives in large companies, reported that their chief BI concern was the performance of various BI solutions.

Development, support and enhancement teams are typically deployed to address BI performance challenges with varied success.  But most companies don’t have a dedicated focus on performance.

A BI Center of Excellence (BI CoE) measured by performance KPIs and service metrics is one solution to this problem. This is not an area that traditionally draws high-level attention or is featured in a dedicated CoE initiative, yet in the right circumstances it offers unique value. Read more »

4
Sep

Is Your BI Project in Trouble?


Enterprise Business Intelligence (BI) project failure can happen for a variety of reasons.  Sometimes it’s due to frequent scope changes with a fixed schedule constraint, unexpected and unplanned-for “must-have” requirements changes, loss of key team members onshore or offshore,  chronic effort under-estimation, lack of proper work breakdown structure, lack of QA, and so on.

Regardless of the causes, BI, Analytics, performance management failed projects waste billions of dollars (and hours) each year.

Over the years, I have seen a lot of well-intentioned custom development, commercial, off-the-shelf package customization – SAP, Oracle, Peoplesoft ERP, CRM, SCM – and other enterprise data-warehouse projects get into trouble for a variety of reasons.  Troubled projects usually need triage, recovery, and turn-around skills to straighten things out quickly.

I am afraid that BI and Corporate Performance Management is reaching a phase in its hype cycle where we are beginning to see growing demand for troubled project recovery. It doesn’t take genius to realize that BI/Analytics project demand is growing as it is one of few remaining IT initiatives that can make companies more competitive. However, demand doesn’t imply project success. Read more »

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