How CompassRed’s Dr. Steve Poulin and his team leveraged Unstructured Data and External Data to uncover success and save $10 million dollars for every percentage point reduction in turnover.

When 92% of the agents hired by a life insurance company were leaving the company within their first year, this large Insurance Company realized their current approach to retention was not sustainable. This was causing significant expenses for continuous recruitment and hiring costs.  Using unstructured data from the applicant’s resume and US Census data about the area in which they live, a predictive analytics process was developed to identify which applicants were most like to sell the amount of insurance required to become a successful agent with the company.  (read more)

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AuthorPatrick Callahan

"Once advertising becomes totally data-driven. advertisers are going to have to build their own data agencies or partner with data agencies. That's going to be a multibillion-dollar shake-up.”

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AuthorPatrick Callahan

We read a ton about "Big Data Tools & Techniques" successful CMOs need to know. Our offices are littered with all the new tech jargon that bubbles to the top of the industry. Rarely do we read about the business challenges and decisions that need to me made first.

Here’s an article by John Kelly via eConsultancy that does just that. The article discusses fundamentals and decisions to be made first, rather than just the “big data” stuff. In summary: lead with strategy and the business decisions, and then get the data to inform your decision making. “The big five” techniques from Sandeep Sacheti, executive VP at Wolters Kluwer discusses are: A/B Testing; Net Promoter Score; Customer Lifetime Value; Recency, Frequency, Monetary Analysis; and Customer Wallet Estimation.  

Source: https://econsultancy.com/blog/67758-big-da...
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AuthorDarren Mahoney