For best use of business analytics, the award goes to…
My favorite part of the Business Analytics Forum (IOD11) each year is to hear from our customers and understand how they are using business analytics and the amazing results the technology can have on their business.
Last night five IBM business analytics customers were honored spanning five categories of demonstrated leadership:
· Chickasaw Nation: Enterprise-Wide Analytics – Solution reaches across the enterprise; engages multiple business analytics products and IBM solutions; pervasive in the organization.
· Cincinnati Zoo: Analytics Champion – Customer who acts as a true champion internal and external to the organization by sharing best practices and expanding the analytics footprint.
· Concept One Accessories: Mid-Market Performance – Customer in mid-market segment that achieves the best demonstrated value-add in the sector.
· XO Communications: ROI Achievement – Customer who has achieved a demonstrable ROI from BA deployment that optimizes business.
· OMERS (Ontario Municipal Employee Retirement Services): Analytics Quotient: Customer who has achieved significant gains from high ranking on the AQ scale.
Chickasaw Nation (CNDC)
CNDC deployed a range of IBM Business Analytics solutions for financial analysis, planning and forecasting. It also harnessed an application built on the IBM Cognos platform that provides specific insight into hospitality and gaming-related revenue areas such as slots and tables, food and beverages, and accommodation. A Performance Solution Center was also established to build expertise around analytics and foster adoption throughout the business.
· Reduction of non-value added preparatory work for budgeting by 50 percent, extends the planning horizon to 24 months, and incorporates a rolling forecast process.
· Accelerated monthly financial reporting cycles by 50 percent.
· Cut implementation and maintenance costs by nearly 60 percent, compared to custom-built solutions.
For more information, watch the video
Cincinnati Zoo wanted to build on its world-leading reputation by personalizing the customer experience for each visitor. They embedded analytics across all aspects of the business by consolidating their admissions, membership, food and retail point-of-sale systems into an enterprise data warehouse. As visitors scan their membership cards, the solution captures and analyzes their behavior in real time.
· 30.7 percent growth in food sales and 5.9 percent in retail sales compared to the previous year
· Saved more than $100,000 per year by enabling resources to be redeployed to more productive initiatives.
· Increased overall attendance, prompting at least 50,000 new “visits” in 2011 through enhanced marketing.
For more information, watch the video or read the case study.
Concept One Accessories
In late 2009, Concept One, a provider of licensed accessories for men, women and children, decided it needed a better way to deliver reporting to its managers. With an ERP system that had limited reporting functionality, the company’s IS director spent approximately 30 percent of his time extracting data from the application, managing 12 Microsoft Excel-based standard reports, and fulfilling ad-hoc report requests from the lines of business. Instead of replacing its ERP application, it adopted IBM Cognos Express.
· Offload the reporting responsibilities from the IT department and improved cost analyses and its gross margin.
· Reduced its design staff by 43 percent.
· Within two months, achieved an 866 percent ROI.
Read more in the Nucleus Research ROI case study.
In the competitive communication service provider industry, a fundamental tenet is that it costs much less to retain an existing customer than it is to acquire a new one. For XO Communications, the challenge was to identify customers who are at the highest risk of churn before they switch providers. By leveraging the power of IBM predictive analytics software, XO achieved significant improvement in customer retention and revenue protection with better quality customer interactions in contact centers and through more effective marketing campaigns.
· Boosted customer revenue retention by 60 percent.
· Reduced its customer churn rates by nearly 50 percent.
· Each customer service manager can now monitor churn risk on up to 400 accounts compared to twice as many to achieve the same level.
Read the case study or watch the video.
OMERS (Ontario Municipal Employee Retirement Services)
As a result of continued growth in both membership and assets, OMERS found the complexity of its financial accounting structure was becoming onerous. With 41 sets of books and nine unique charts of accounts, it was difficult to get an enterprise-wide view of the financial position, and analysts spent the majority of their time reconciling financial statements and validating data.
· United 41 sets of books and nine charts of accounts into a single source of truth, eliminating the need for manual reconciliations and saving several days per quarter.
· Automated financial planning processes and eliminates the need for costly external consultants, saving up to $15k per year.
· Streamlined an allocation process that previously consumed 1.5 hours of pure system processing time during each iteration; in IBM Cognos TM1 it can now be executed in minutes, equating to an annual processing time saving of approximately 30 hours.
Read the case study for more information.