Cookies help us display personalized product recommendations and ensure you have great shopping experience.

By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
SmartData CollectiveSmartData Collective
  • Analytics
    AnalyticsShow More
    data analytics and truck accident claims
    How Data Analytics Reduces Truck Accidents and Speeds Up Claims
    7 Min Read
    predictive analytics for interior designers
    Interior Designers Boost Profits with Predictive Analytics
    8 Min Read
    image fx (67)
    Improving LinkedIn Ad Strategies with Data Analytics
    9 Min Read
    big data and remote work
    Data Helps Speech-Language Pathologists Deliver Better Results
    6 Min Read
    data driven insights
    How Data-Driven Insights Are Addressing Gaps in Patient Communication and Equity
    8 Min Read
  • Big Data
  • BI
  • Exclusive
  • IT
  • Marketing
  • Software
Search
© 2008-25 SmartData Collective. All Rights Reserved.
Reading: Differentiating Through Event-Driven Analytics
Share
Notification
Font ResizerAa
SmartData CollectiveSmartData Collective
Font ResizerAa
Search
  • About
  • Help
  • Privacy
Follow US
© 2008-23 SmartData Collective. All Rights Reserved.
SmartData Collective > Business Intelligence > CRM > Differentiating Through Event-Driven Analytics
AnalyticsCRMWeb Analytics

Differentiating Through Event-Driven Analytics

Brett Stupakevich
Brett Stupakevich
4 Min Read
Image
SHARE

ImageA growing number of companies are taking advantage of event-driven analytics to help identify event patterns and their impacts on business trends and key performance indicators.

ImageA growing number of companies are taking advantage of event-driven analytics to help identify event patterns and their impacts on business trends and key performance indicators. Savvy companies are tracking and acting quickly on such information via complex event processing in order to position themselves ahead of competitors or in some cases to identify and act quickly on customer or operational issues they’ve uncovered.

For example, let’s say a regional transportation company discovers that customer satisfaction has dropped five points in three of its key markets. A closer examination of the data reveals that customers are unhappy with a recent policy change that no longer allows them to purchase monthly bus passes in advance online, forcing them instead to wait on line at bus stations to obtain the passes on the first business day of each month.

By identifying and acting on the root causes of customer dissatisfaction quickly, the transportation company can reverse its policy decision, leading to improved customer satisfaction and, as a result, stem customer defection to rival carriers.

More Read

Image
The Healthy Data Revolution – How Biometrics Impact our Life & Fitness
13 Retail Companies Using Data to Revolutionize Online & Offline Shopping Experiences
What I Found Interesting About Gartner BI Summit 2012 London
Getting business value from data? Commercial analytics is where it’s at
Why Businesses Can No Longer Ignore Social Media Listening…

Effective event notification can also help decision makers identify and then act on events ahead of their competitors, especially those who monitor and respond to customer shifts and market developments in real time via business activity monitoring.

Consumer packaged goods companies (CPGs) and manufacturers are able to use RFID technologies to help demand for certain products in specific locations. This can improve visibility into the supply chain, streamline production operations by automating workflows, and improve decision making.

For example, many CPGs and retailers use RFID tags to track and monitor inventories more cost-effectively and efficiently. If RFID data alerts a manufacturer of high-definition TV monitors that demand for certain models has increased in certain locations, the company can coordinate with retailers in its supply chain to adjust shipments accordingly.

Similarly, if other HDTV models aren’t selling as briskly in certain locations, the manufacturer and retailers can coordinate with each other to adjust shipments so that inventory isn’t clogging up a retailer’s distribution center or sitting in a retailer’s in-store warehouse.

Of course, in order for companies to achieve these types of capabilities and act on event-driven information in real time, they need to develop event-driven architectures, including a sense-and-respond environment that enables decision makers to identify emerging market trends and act quickly on behalf of customers and ahead of competitors. This can also include the use of enterprise feed servers to help aggregate and disseminate RSS and ATOM web feeds.

Once companies have developed some experience in this space, they can take this information a step further to develop the right offers at the right time for the right customers.

Share This Article
Facebook Pinterest LinkedIn
Share

Follow us on Facebook

Latest News

AI supply chain
AI Tools Are Strengthening Global Supply Chains
Artificial Intelligence Exclusive
data analytics and truck accident claims
How Data Analytics Reduces Truck Accidents and Speeds Up Claims
Analytics Big Data Exclusive
predictive analytics for interior designers
Interior Designers Boost Profits with Predictive Analytics
Analytics Exclusive Predictive Analytics
big data and cybercrime
Stopping Lateral Movement in a Data-Heavy, Edge-First World
Big Data Exclusive

Stay Connected

1.2kFollowersLike
33.7kFollowersFollow
222FollowersPin

You Might also Like

data analytics personal branding
Analytics

Can Data Analytics Help with Professional Branding?

8 Min Read
advanced business analytics benefits
Analytics

Yes, Advanced Business Analytics Can Cut Costs

6 Min Read

Market Penetration of Social Media – Who Uses Twitter?

3 Min Read
role of conversational analysis in data-driven companies
Analytics

How To Maintain Accurate Data Through Conversational Analysis?

8 Min Read

SmartData Collective is one of the largest & trusted community covering technical content about Big Data, BI, Cloud, Analytics, Artificial Intelligence, IoT & more.

data-driven web design
5 Great Tips for Using Data Analytics for Website UX
Big Data
ai is improving the safety of cars
From Bolts to Bots: How AI Is Fortifying the Automotive Industry
Artificial Intelligence

Quick Link

  • About
  • Contact
  • Privacy
Follow US
© 2008-25 SmartData Collective. All Rights Reserved.
Go to mobile version
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?