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LÛCRUM, Inc. in conjunction with the University of Cincinnati Lindner College of Business Center for Business Analytics, held the ninth Business Intelligence Symposium yesterday. Speakers included Arnie Greenland of IBM, Gabe Gershenfeld of the Cleveland Indians, and Glenn Wegryn from Analytic Impact, LLC. The event was held at the University of Cincinnati Tangeman University Center Theater and was presented to a packed house of around 200 guests. Professionals from all over came to network with each other and hear the current and coming things in intelligence and analytics at “Analytics in Action”.
Our first speaker, Arnie Greenland, spoke on “Putting Watson to Work”. The IBM sensation, Watson, was an immediate hit after demolishing contestants on Jeopardy, but Arnie spoke to how Watson can be used for more practical purposes. Watson changed history by introducing a system that rivaled human ability to answer questions posed in natural language with speed, accuracy and confidence. “Watson gets a lot of information, puts it in a standard way of understanding, and then provides us with solutions,” said Greenland,”It takes amazing amounts of information, and it’s all unstructured, the sheer volume of information makes it difficult for people to understand.” But not Watson. It uses the phenomenon of Big Data and gives people a chance to handle the information.
In attendance was Lori Beer who has the opportunity to work with Watson in the health care industry. During the question and answer portion after Arnie’s presentation an audience member asked about the quality of information given by Watson. Since Lori has first hand experience with this she answered in terms of her own work. She said that they use Watson in a score and evaluate type process. Based on the answers given the doctors and oncologists can evaluate the continuous learning of Watson. They agree or disagree with the answer given to help Watson learn. Lori described the process as revolutionary and said that it has helped even doctors think differently on how they answer questions themselves.
The next speaker, Gabe Gershenfeld, Strategic Analyst of the Cleveland Indians, presented “Analytics in Sports and Entertainment”. His presentation showed how organizations use analytics to make optimal business decisions. He discussed an innovative conjoint-based pricing application that produces an improved fan experience. The approach marries fan preferences with financial implications and utilizes visualization and interactive interfaces to drive adoption. Using heat maps and graphs to determine the optimal ticket price and seating arrangement has allowed the Indians to “provide a better baseball experience” to their fans, said Gershenfeld. Their process has been something that they hope to use to find relevance beyond sports and entertainment.
When asked how the Cleveland Indians process compares to other teams in the league Gabe said, “This is business not baseball information so we’re open and collaborative with others.” He believes others are taking advantage of this process as well but that big markets have more of an appetite for dynamic pricing models. Gershenfeld thinks that in approximately five years this will become commonplace, he doesn’t see significant push-back. The Cleveland Cavaliers are using the model and he sees value for every team in every market.
The final speaker of the day was Glenn Wegryn who retired from Procter and Gamble (P&G) and currently works at Analytic Impact, LLC. Glenn’s presentation, “Driving Competitive Advantage with Analytics” focused on the broad impact of advanced analytics across all businesses and markets. He discussed trends in the field and their implications over the next 3-5 years. Wegryn talked about the real-world applications of analytics and the keys for Management – how to start, structure, and source talent to successfully bring analytics into an organization. He used his own experiences at Procter and Gamble to show that companies are “tired of looking in the rearview mirror”, they want real-time information and sometimes it takes motivation from the top to make these changes. He helped develop a system that put together the most up-to-date information – it wasn’t pre-cleaned or positioned to show the best information – for Bob McDonald, CEO of P&G. This one screen could show all relevant information to top executives in the company. They were able to view information and act on it immediately. Gone were the days of reactionary business decisions.
While answering questions posed by the audience Glenn said the most important aspect of analytics is to create value. “Always talk in terms of business value.” The amount of information available from this approach is astounding but the conclusions that can be drawn from it are what we’re all really looking for. He recommends everyone read the book Competing On Analytics, saying it’s management focused and the analytics Bible.
The event was such a success that the hour-long slot allotted for the panel discussion ran over. Attendees stayed behind to ask speakers questions that weren’t answered throughout the day and everyone enjoyed the information presented to them. All guests in attendance had a chance to interact and network with other professionals from all industries. It was a great experience for all of those involved.
Did you miss this quarter’s Symposium? Get materials here.
To learn more about the Business Intelligence Symposium and other offerings from LÛCRUM, Inc. contact us today.
Cincinnati, Ohio, December 30, 2011 – LÛCRUM, Inc., a Business Intelligence and Analytics consulting firm headquartered in Cincinnati, Ohio. For almost 20 years, LÛCRUM has developed over 100 projects leveraging data and analytics.
Mr. Whitacre brings with him over thirty years of experience in the IT industry including application development, business liaison, end-to-end development of business intelligence solutions, information strategy development and business strategic consulting. He comes to us from IBM, where he served in the IBM Federal CTO Office for three years focusing on building strategic relationships and developing opportunities within the Federal Government Sector. He also served as Senior Director of Information Management & Merchandising Systems during his ten years at Kroger.
Mr. Whitacre holds a BBA in Computer Science from the University of Cincinnati and has previously held several management positions within the IT industry. We are pleased to have Mr. Whitacre on board, and look forward to a prosperous future with him.
About LÛCRUM
LÛCRUM creates long-term relationships with Clients to build Business Intelligence Solutions that increase profitability, drive operational efficiency and maximize decision-making capabilities.
Contact Erin Macdonald, Marketing Associate, for additional information (emacdonald@lucruminc.com).
LÛCRUM Inc., in conjunction with the University of Cincinnati’s Carl H. Lindner College of Business, has announced that their 6th Business Intelligence Symposium is scheduled for December 13, 2011, at the Carl H. Lindner College of Business focusing on Innovative Analytics. LÛCRUM Inc. and the Carl H. Lindner College of Business have been organizing these events for business executives and IT professionals that use and need analytical data to provide a forum for sharing ideas, stories, experiences and business cards.
Confirmed speakers for the event are:
Drew Boyd
Drew Boyd is a recognized authority, thought leader, educator, and practitioner in the fields of innovation, persuasion, and social media. He is the Executive Director of the Master of Science in Marketing Program and Assistant Professor of Marketing and Innovation at the University of Cincinnati.
Ginny Walker
Virginia (Ginny) Walker is currently GE Aviation’s Chief Enterprise Architect, reporting to the CIO. She grew up in Michigan, obtained her undergraduate degree in Systems Analysis at Miami (OH) University, an MBA from Xavier (OH), and has worked 25 years for GE in Aviation, Corporate and Energy. She has held a diverse span of Information Technology roles…from application development, to data warehouse and data management, to strategic planning, outsourcing, data center management, and ERP implementations.
Jim Goetz
Jim is the Chief Information Officer at Convergys. He is responsible for the planning, development, and delivery of the technology products and services for the Company globally, including external and internal clients. He reports to Jeff Fox, president and chief executive officer of Convergys.
Mike Cholak
Mike Cholak is the Vice President of Customer Intelligence Services at Convergys. He leads a team dedicated to delivering a full suite of consulting services to the Company’s clients that help leverage customer intelligence and feedback to optimize long- term customer loyalty and profitability.
For more information:
Today LUCRUM hosted our second BI Symposium. Once again, it was well attended and we had some great speakers! I’m hoping that this becomes a regular event. If you have yet to attend, I encourage you to come to our next event (to be scheduled).
Our first speaker was Mr. Stuart Woodward, President OD OcuCue. (http://ocucue.com/) OcuCue is an interesting start-up that’s all focused on data visualization. I always love listening to visual experts. There is such a science to visual design. It’s about understanding the psychology of how users think and perceive what they see. If you are creating a dashboard, you have to design it in the way people think – we read from left to right, heavy color should be at the lower left hand side, etc.
“Good design has two key elements. Graphical elegance is often found in the simplicity of design and complexity of data.” – Edward Tufte
Mr. Woodward’s company creates meaningful dashboards that are icon based. They go beyond speedometers and graphs and actually create a customized dashboards with icons that are meaningful to the company using them. One example that he showed was for a hospital. There are some rooms that can only take female patients or only male patients. To show bed availability, their dashboard has a pink pillow or a blue pillow to represent which rooms are available. Hmmm…never thought of that!
How are you presenting data to your users? Are you simplifying the message? Setting up the information from left to right? Are your colors meaningful? (ie Red should mean bad, green is good)
OK…gotta run and listen to the next speaker!
- Jodie
I’m not sure if you’ve noticed, but I’ve not been blogging with the same gusto as of late. Ah the life of a Consultant. 
I have been working with a local financial institution creating financial models this summer. (It leaves me with little time for blogging.) I did happen to stop by our 7755 Montgomery Road office today and checked my mailbox. In it was this month’s Information Management mag. I was immediately drawn to this month’s Snapshot: Making Information Available. Here’s some stats for you to consider:
61% of respondents are less than satisfied with their current process of creating information applications and are only lukewarm about their current information application technology. Here are their complaints:
- It takes too long to assemble and deploy applications.
- It is too difficult to assemble and view information into a simple view.
- There are not enough capabilities to integreate and normalize information from disparate applications.
WOW! I ask all of you fellow BI folks out there…what are you doing to solve this problem??? Why is it with all of the tools available today, our users are finding it too difficult to use them!! What are WE doing wrong?
As I mentioned, I am working with a customer on Financial Models this summer. I am fortunate to work with some SUPER SMART people in this group. They have come up with the most ingenious ways of getting their data out of old clunky systems. They can create some of the most INSANE Excel formulas to manipulate data! Their Excel sheets are visually appealing and get data to their management in a timely manner. I’ve had some spreadsheets that have taken me days to figure out the Excel formulas (and I’m a guru!). They are awaiting IT to “build them a DW” to make their lives easier. Here’s to hoping that it can deliver on their expectations! Here’s what I would do to ensure that it does:
1. Use an iterative methodology to build the DW. Recreate existing Excel reports from the DW as you go.
2. Implement a user-friendly reporting tool that allows them to create their own reporting. Give ‘em lots of drag and drop functionality and make sure it can Export to Excel.
3. Create a request process that allows the DW to change with the Business. Creating a process that queues up the work for months and months does not help the business user to create the financial package that’s needed at the end of the month.
4. Keep the model flexible. Doing this will ensure that you can always add a new organziation, hierarchy or measurement.
5. Build cubes! These users are smart cookies and they aren’t afraid of a Pivot Table. Give them the flexibility and performance of a cube and let them start to uncover their data.
Hmmm…what’s missing from my list? What would you add?
Happy building!
- Jodie
This snapshot shows the new home page for the Cleveland Museum of Art, featuring personalized content, exhibitions information, and highlighted objects from the collection.
It’s a treat when we have the opportunity to publicly showcase work from our portfolio. This week, we invite you to view the results of our most recent assignment with the Cleveland Museum of Art and their new website.
This event marks the successful completion of a two year effort to set a new standard for how museums engage with their visitors. The engagement has followed the LUCRUM iStream methodology – starting with our high-value Stakeholder Alignment Session, though a process of analysis, collaboration, transformation, and now launch – to result in this groundbreaking experience. The website was developed in partnership with the museum staff and award-winning Pentagram Design, based in New York.
One of the most compelling features of the new website is enhanced access to the museum’s encyclopedic collection of over 40,000 objects - many of these iconic works of art are now accessible online, as well as woven into the pages of the site. The objects become part of the fabric of the experience. Large images and a wide range of search options make it easy to wander for hours in the online collection – I encourage you to give it a try!
The redesigned collections browser offers visual access to over 40,000 objects in the Museum's collection.
You’ll not find a single security guard with arms crossed, daring you to approach for a close-up look. Interaction is encouraged, and you are invited to add comments to their favorite objects or tag them with key words so that they are easier for others to find.
The new site also paves the way for more in the way of multimedia features, to provide diverse perspectives on individual works of art and offer behind-the-scenes views of areas within the museum that are not accessible to the general public.
In planning the experience, the design and development teams examined the best online practices of retail and consumer product brands. Social media is heavily integrated into each page of the new site as well, with an option to share content with various online services or add events to a personal calendar. Links are also supplied to the museum’s own Facebook, Twitter and blog accounts.
The simplicity of the navigation was also a key to improving the overall experience for site users. Everything on the site is as close to the homepage as possible, which eliminates the kind of multiple clicks and top-down hierarchical navigation found on a lot of websites. An expanded calendar provides day-by-day views of all activities at the museum, with direct links to more information about the events or to the online box office.
LUCRUM engineered the site using a number of advanced technologies and design innovations. And while the end experience is highly visual and is delivered in an engaging, interactive way, the some of the real marvels are “under the hood.” Think about it – the key to the site’s richness is in the data that it makes available, and the way in which you can engage with that data to find “hidden meaning” and value that was not immeditately obvious.
Sound familiar? The same data strategies and fundamental approaches we use in our business intelligence assignments apply here too. Over the next few weeks, we’ll be talking more about how we applied these principles and how they lead to successful technology projects. In the meantime, take a moment to enjoy the website, and let us know what you think!
-Eric
Last Thursday we had a great turnout for our first ever BI Symposium. Our host was the NKU METS Center. If you never been, you should check it out! It’s a wonderful facility! It’s truly state-of-the-art!
Our first speaker of the day was Dr. David Holcomb. David really set the tone well with his presentation on Simplicity and Transparency. Do you think of data as an asset? If so, treat it like the rest of your assets:
- Acquire it
- Prepare it
- Deploy it
- Manage it
So many times, we skip (or underfund) the “manage” step or at worse, skip all 4 steps and keep the data hidden from the organization.
David’s presentation can be found below. Enjoy!
Simplicity and Transparency
View more presentations from Jodie Heflin.
– Jodie
We hope to see you tomorrow at our event. If you go and use Twitter, please use #BISymp2010 to mark the event in your posts.
Headed to our event? Click on the Marker below and enter your address to get directions.
3861 Olympic Boulevard
Erlanger, KY 41018
[mappress]
Join us on Thursday, May 6, 2010 at the NKU METS Center for a half-day symposium of collaborative learning, focused on business intelligence. The Business Intelligence Symposium brings together regional business & IT executives to learn how their peers have been implementing data analytics, business intelligence solutions and Dashboarding. The emphasis of the symposium is to share ideas, stories, experiences, and business cards. Case studies, along with live demonstrations will be presented. Breakfast and lunch will be provided in a collaborative environment that facilitates peer networking and BI discussions for an enhanced learning experience.
Agenda:
7:30am – 8:00am Registration and Breakfast
8:00am – 9:00am - Director, Data Management, Western Union
Simplicity and Transparency – How to do Effective Data Warehousing and Business Intelligence (Presentation)
9:00am -9:45am Mr. Steve Hangen – CIO, WinWholesale
BI Roadmap – A Project, a Journey, a Culture (Presentation and Demo)
9:45am -10:00am Coffee Break & Conversations
10:00am – 10:45am Mr. John R. Ward – Director, Health Systems Integration, TriHealth
The New Era of Healthcare Clinical Information Systems Unstructured Data – Internal/External
10:45am –11:30am Mr. Jeff Shaffer - Vice President of Legal Operations, Unifund
Visualization – Running a business with Dashboards and Scorecards (Presentation and live Demo)
11:30am – 1:00pm Lunch /Panel Discussion led by Dr. David Holcomb and guest speakers
For more information please call Sheila at (513) 241-5949 x.215
- Join us as we demo the new @TARGIT BI Suite 2K9. Today!! http://bit.ly/dCsQrc #
- I think the tech classroom could be embraced by HS and Jr. High kids too. RT @ZDNetBlogs an iPad for every student http://zd.net/a7y0Ah #
- The iPad is coming on Saturday. Are you getting one?? #apple #ipad #
- #FAIL :When the title of the article gets you interested to read, but the writer of the article just can't hold your attention??? #
- #FAIL RT @ZDNetBlogs iPad OS licensing agreement unveils hidden cost of ownership http://zd.net/achAgl #Apple #
- Really? This is news? RT @iTWire Babies learn by listening to words http://bit.ly/avVEkB #
- Want dual screens too pls. Rt @SocialMediaRule Folding Laptop…Will Make You Crave for a Bigger Keyboard: http://tinyurl.com/yh8v6dr #
- Join us as we demo the new @TARGIT BI Suite 2K9. Tomorrow!! http://bit.ly/dCsQrc #
- Left my glasses at home today. Please don't send me anything to read. #
- LÛCRUM is an information, intelligence and analytics consulting firm comprised of business and technology professionals focused on making data meaningful.
