Showing posts from 2013

The power of analytics.....Let the numbers speak !!

Data is one of the biggest assets for an organization in today’s era. We leave behind trails and data is collected in every transaction we make, every activity we do. If we go to a store to buy something, the receipt is data generated. We withdraw money from an ATM, we leave behind the transaction details. We go to shopping malls and mega stores, our shopping list generates data and our buying pattern and then there are video cameras which even record our movements. Data is everywhere. There is just too much of data. The rate at which data is being generated is also on an increase. Over 90% of the online data has just been created in the last 2 years. If companies can learn to make sense out of the data, if they can generate insights from the data, there is a real gold mine to be unlocked. Data is thus a game changer.

An in-depth data analysis can generate insights on customer behavior, market movements, prevailing trends, product performance, competitor performance etc. etc. Data c…

The new era of frauds/scams is here.....beware!!

Hello All,

The post is regarding a fresh series of scams prevalent these days. The origin is very professional, people who seem to have a great professional background will connect with you on LinkedIn. And then they send you emails of how they have started an online venture and would like to make you a partner. And the returns will be equal to the investments made etc. etc. They will showcase a proper business plan and lure you into investing some money (for multiple returns). But its a scam!! Once you pay the money, you are duped.

I was once approached by someone in Dubai regarding such scheme by a lady named Rati, i thought it might be something serious and exchanged a number of emails with her. Later on i realized it was gimmick. I thought it was a one off case and just ignored it. However, over the last 2-3 months i was approached in a similar fashion by 3 more people via LinkedIn and then i realized its a new scam surfacing.

Monte Carlo Simulation - The Bus Delays

Monte Carlo Simulation is a very powerful way to forecast and predict situations. It works on a collection of historical data. Various data points are collected and the probability of an event is calculated. KPI's are then formed to determine future outcomes and take predictive measures.

For example, Simulations can be used at an airport to improve efficiency. The time a customer waits in a queue can be recorded and then the time taken to check his handbag/passport can be noted down. After a representative sample is collected, probabilities are assigned to all possible outcomes. Now a simulation can be run and a customers' average wait time can be calculated. It can also be determined to a great accuracy how many customers have to wait for how long. Thus remedial actions can be taken to counter the problems if any. For example, more checking counters can be added in the simulation to measure its impact on the waiting time.

Brand Strategic Platforms - The key Positioning element

Recently in our Brand Management classes, we were taught a very interesting topic of Brand Strategic Platform by Prof. Ashley Konson.  A positioning strategy is essential for a brand/product. Brand positioning refers to the specific, intended meaning for a brand in a consumer's mind. The brand positioning should be clear in a marketer's mind before the same can be conveyed to the end customer through advertising/communication channels etc.  
As Prof. Konson puts it. "The managerial challenge is getting everyone seeing the same green apple the same way". 

Thus, there is a need to clearly layout the product positioning strategy internally so that the product idea is consistent throughout the organization. Kellogg provides a powerful framework to lay out a Positioning statement. Will discuss that in detail followed by some illustrations after the following example of a wonderful product which lost out due to the lack of a clear positioning strategy.
The failure of TiVo:  Wh…