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Harte Hanks Announces Data Refinery to Harness Customer Data and Drive Marketing Results

Data Refinery ProcessMarketers are increasingly looking for innovative ways to get to know their customers better, and to get the most out of the campaigns they create every day. The best way to learn more about your customers is by leveraging data. This isn’t as simple as it sounds. With a plethora of channels at your customers’ disposal, both online and offline, and the growing number of devices that people use, it is difficult to harness all of that data – especially when you’re mining it from multiple sources. Utilizing big data also requires the complexities of hiring a staff to manage data, ensuring best-in-class quality and governance procedures and working with constrained budgets across siloed departments. This is no easy feat.

How do we overcome these challenges together? The answer lies in gathering and storing the most current data on your customers through a data refinery. Data refinery is a scalable platform that allows for on-demand access to compiled customer views that can be accessed by all departments within your organization. The compiled views should be nimble, customizable and rich with proprietary and third-party data sources so they effectively serve the ever-changing marketing demands placed on the various teams that need access, and as a result, empower marketers to know more and communicate better to their customers.

So how does it work?
At the heart of a good data refinery platform is the aggregation of large amounts of various data types from multiple sources and channels, both traditional and digital. A data refinery platform starts with an ideal customer profile that defines data attributes needed to deliver results. This ideal customer profile serves as your “map,” guiding data profiling and sourcing to bring together and enhance owned data with third-party data. The data refinery then cleanses, validates and standardizes the customer profile for output to any downstream marketing or sales application.

Today we are excited to announce that Harte Hanks is launching its very own Data RefinerySM solution. With our solution, access to pre-vetted data sources by vertical and marketing objective are utilized – think of this as an app store for data – reducing the time to value. Selecting data based on reliability and performance metrics optimizes data usage and spending, ensuring campaigns don’t become stagnant. To learn more about Harte Hanks’ Data Refinery click here.

A brand’s success will continue to be dependent on technology, innovation and the ability to connect with the customer in a highly relevant way. A data refinery platform is needed to bring data together and make it foundational to all your marketing and sales efforts.

Next week we’ll review what data sources are available and how best to manage them using the latest open source technologies. In the meantime, start thinking about what you could do if all your data could be harnessed, treated as a single source of the truth and accessed by anyone on demand. The possibilities are almost endless, aren’t they?

Delivering data from all different sources and augmenting it to form purpose-built customer profiles allow you to understand your customers. This insight is powerful and allows you to acquire new customers, reduce churn within your existing customer base, increase repeat purchases and increase customer satisfaction.

A Data Refinery Platform Helps You:

  1. Better understand existing customer base
  2. Create models and segmentation to find better prospects at scale
  3. Understand existing customer behavior, avoid attrition and encourage growth

Don’t Let Your Big Data Projects Sink – Find out What’s Lurking in Your Data Lake

By Trillium Software

by Denise Laforgia, Product Marketing Manager, Trillium Software

Organizations are drowning in their Big Data and are unsure of how to even begin to find the value in it. While many have set up “data lakes” as an initial step, they still struggle with understanding what data they have. The fact is, these large warehouses and repositories that store endless streams of high-volume, diverse data that flow into organizations every day may provide a good way to collect Big Data, but they do nothing to help organizations drive real business benefits.

It is imperative for business and IT stakeholders …read more

Source: Trillium Software

Enhance Customer Retention and Acquisition Strategies with Insurance Data Analysis

By Michael Chochrek

Thumbnail for 6083To better attract and retain customers, leading insurance companies must establish strategies that focus on improving their customers’ experience and optimizing their underwriting and pricing practices. This is easier in theory than reality as a recent study from Bain & Company concludes – insurance carriers are usually only good at one strategy, not both. However, I believe that insurance companies can accomplish these two objectives by systematically accessing and analyzing their full universe of data, including free form text and scanned documents, to gain new insights into their customers, business and market environment.

Read More >>

Source: Trillium Software

How Data Awareness Ensures Regulatory Compliance and Enhances Business Performance (Part 2: Empowering the right people with the tools they need to get the job done)

By Len Dubois

In the last blog post of this series, Jon Asprey, VP of Strategic Consulting at Trillium Software, details how cross-department collaboration to reach an understanding of data requirements, interdependencies, data quality issues and gaps is essential to developing a structured data governance process.

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Source: Trillium Software
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How Data Awareness Ensures Regulatory Compliance and Enhances Business Performance

By Jon Asprey

(Part 1: Establishing the required organizational structure)

Creating a culture of data awareness can help firms comply with complex regulations and enhance business performance. As financial services firms continue to struggle with the effective management of data quality, ingraining the right culture into the organization is critical. For firms to successfully implement structured data governance and control, it is imperative that all stakeholder groups involved in data management be considered.

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Source: Trillium Software

Asset Analytics & Lasting Records

By Nigel Turner

After London, Birmingham is the UK’s second largest city. With a population of around one million it grew rapidly during the Industrial Revolution to become a powerhouse of British industry. Much of the heavy industry has long since vanished but it remains a vibrant and diverse place with a rich cultural heritage. For instance, many of Britain’s best known rock bands – Black Sabbath, the Moody Blues, Duran Duran & the ELO – all started life in Birmingham. And between them they created some lasting records – for instance Nights in White Satin, Paranoid, Mr. Blue Sky, and Say a Prayer.

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Source: Trillium Software

America’s Claims Event 2014 – Focus on Driving Business Value from Unstructured Data

By Michael Chochrek

I recently attended the 2014 America’s Claims Event in Washington DC. It was evident from the presentations I attended and my conversations with attendees that maximizing the value of data is front-and-center on the minds of claims professionals. I was very interested in the fact that these discussions about data, especially those focused on analyzing unstructured, free-form text data to uncover the most actionable information, were much more prominent and frequent than in the past few years at this event.

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Source: Trillium Software

Open Sesame? Letting the Data Genie Out of the Bottle

By Nigel Turner

Letting genies out of bottles can be a risky business. In Aladdin’s case the genie helped him to achieve his most coveted wishes. Other genies can however be more malevolent, turning wishes into nightmares. And so it is with releasing the data genie. Opening up your data to the wider world can similarly fulfil wishes, or lead to censure & misery.

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Source: Trillium Software

FATCA: the tip of the tax exchange iceberg

By Simon Knight

The Foreign Account Tax Compliance Act (FATCA) finally became a reality on the 1st July; FATCA is a US tax avoidance measure which came about after the financial crisis at the end of the last decade. It requires Foreign Financial Institutions (FFI’s) to identify U.S. citizens, report on their income and assets and, in some circumstances, withhold on payments to account holders.

Read More >> Source: Trillium Software

Scoring Points in Sports Franchise-related Data Quality

By Matthew Desmarais

The data team in a professional, premier, or major college sports organization is an awfully lonely group. Other departments, especially the more glamorous ones such as marketing or player personnel, are treated to large budgets and plenty of attention. These groups receive executive buy-in and are seen as strategic to the organization. And while the team spends money and time satisfying the latest “entitled” player or updating the already excessive facilities, the data professionals (like in many organizations) struggle to win funding and approval to build out their critical data assurance and data management projects.

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Source: Trillium Software

Credit and Debt Collection: Shelter From the Anticipated Interest Rate Storm

By Simon Knight

Debt. It’s a part of everyday life and impacts us all. From the Government to the consumer, levels are coming down from an all-time high, but are still at worryingly elevated levels, fuelled by the availability of cheap credit and low interest rates. For many organisations in the utilities, financial services, telco and retail sectors, bad debt continues to impact financial performance.

The situation is expected to get worse. Interests Rates have been at record lows for many years; in the UK market, for example, the interest rates have now been at record lows for many years; in the UK market, for example, the interest rates have now been at 0.5% for over five years.

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Source: Trillium Software

Healthcare – The Sickness of Poor Data Accountability

By Nigel Turner

As I write this, my national soccer team has been knocked out in the initial stages of the World Cup after narrow defeats by Italy & Uruguay. To say the least, the week was a depressing one for many who live in England.

But this recurring national sense of disappointment (which surfaces every four years when a World Cup is held – England’s only ever win was in 1966 as the Beatles were conquering the world of pop music) was made even worse this time by the fact that another of its institutions has also scored a massive own goal.

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Source: Trillium Software

Are you in Compliance with Canadian Anti-Spam Law?

By Len Dubois

Hey marketing people – I hope you’re on top of your efforts to comply with Canada’s Anti-Spam Law or CASL. Passed in December 2010 (and the deadline for compliance is July 1, 2014… oh my!), the Canadian law prohibits the sending of commercial electronic messages to Canadian contacts without the recipient’s implied vs express consent. So, organizations could incur hefty penalties if Canadians report receiving unsolicited marketing messages.

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Source: Trillium Software

Data Analysis Enables Claims Supervisors to Focus on the Most Critical Files

By Michael Chochrek

Thumbnail for 5290I recently co-presented on a webinar with Jamie Bisker of the Aite Group that focused on the critical role data plays in high-performance claims handling. One metric we discussed cited more than 50% of claims supervisors’ time is spent reviewing the claims files of their direct reports. Even after working claims for more than 25 years, I must admit that I was struck by this statistic.

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Source: Trillium Software

Go Where No Marketer Has Gone Before with CRM

By Niranjan Oak, Senior Consultant II, Nuedesic

Remember the classic Star Trek TV series? Captain Kirk’s mission was to explore new worlds and civilizations by going into deep space where no one had gone before. Imagine if Starship Enterprise and Captain Kirk were in the business of marketing. What would their “mission statement” look like? Maybe something like: “Growth: The final frontier! These are the voyages of today’s marketers. The five year mission to explore new markets, to seek out new customers, and to boldly go where no marketer has gone before.”

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Source: Trillium Software

IDMA 2014: Clear Signs of Greater Commitment to Establishing Data-Centric Organizations

By Michael Chochrek

Thumbnail for 5110Having just attended and presented at the annual IDMA conference in Philadelphia, I think it is time to step back and assess the level of data analysis being done by insurers and the number of true data-centric organizations that exist today.

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Source: Trillium Software

Broader isn’t Always Better, and Other Bloor Takeaways

By Denise LaForgia

In Bloor Research’s recently published Market Updates for Data Quality and Data Governance, Trillium Software earned placement in the ‘Champions’ section, outscoring several other leading enterprise application vendors. (Download the reports here) Bloor’s research touches on several market trends that Trillium has foreseen for some time. You may notice these trends in your own organization if you’re trying to implement new data quality and governance initiatives or improve initiatives already in place.

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Source: Trillium Software

Data Protection and Privacy – Act Now Before the Act

By Nigel Turner

“All the world’s a stage, and all the men and women merely players” is one of Shakespeare’s most quoted lines. Spoken by the cynical & melancholy character Jaques in Act II of ‘As You Like It’ it reminds us that we strut our data management stuff against a constantly changing backdrop. If we don’t keep aware of the scenery shifts we can easily get it wrong.

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Source: Trillium Software

How to Reduce Claims Leakage for Medical Payments

By Michael Chochrek

The cost of medical treatment is on a sharp rise and insurance carriers need to face this challenge head-on to combat insurance cost increases that could negatively impact the customer experience and retention. A recent study by the Insurance Research Counsel (IRC) found that medical costs associated with first-party claims such as PIP (personal injury protection) and Medical Payments coverage have increased by 8%, while costs associated with Bodily Injury liability claims increased by only 4%.

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Source: Trillium Software

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