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The Data Companies Wish They Had About Customers - WSJ
March 23, 2014 | WSJ | by Max Taves.

We asked companies what data they wish they had—and how they would use it. Here's what they said....
(A) has a huge appetite for data. Every hour, the mail-order snack business digests 15,000 user ratings about its foods, which it uses to better understand what its customers like or dislike and to predict what else they might like to try...more data could help him understand customers' tastes even better. Among the information he wants most is data about customers' dietary habits, such as what they buy at grocery stores, as well as better information about what they look at on Graze's own site. And because the dietary needs of children change rapidly, he'd like to know if his customers have children and, if so, their ages.
(B) Energy-----Energy consumption is among its customers' main concerns, says CEO William Lynch. For instance, the company offers a product giving homeowners the real-time ability to see things like how many kilowatts it takes to heat the hot tub in Jan. Because of privacy concerns, Savant doesn't collect homeowners' energy data. But if the company knew more about customers' energy use, it could help create customized plans to conserve energy. "We could make recommendations on how to set up your thermostat to save a lot of money,
(C) Banking-----the Bank of the West would like "predictive life-event data" about its customers—like graduation, vacation or retirement plans—to create products more relevant to their financial needs...At this point, collecting that breadth of data is a logistical and regulatory challenge, requiring very different sources both inside and outside the bank.
(D) Appliances-----Whirlpool Corp.has a vast reach in American households—but wants to know more about its customers and how they actually use its products. Real-time use data could not only help shape the future designs of Whirlpool products, but also help the company predict when they're likely to fail.
(E) Healthcare----Explorys creates software for health-care companies to store, access and make sense of their data. It holds a huge trove of clinical, financial and operational information—but would like access to data about patients at home, such as their current blood-sugar and oxygen levels, weight, heart rates and respiratory health. Having access to that information could help providers predict things like hospitalizations, missed appointments and readmissions and proactively reach out to patients,
(F) Healthcare----By analyzing patient data, Carolinas HealthCare System of Charlotte, N.C., can predict readmission rates with 80% accuracy,
(G) Law----law firms that specialize in defense work are typically reactive, however some are working towards becoming more proactive, coveting an ability to predict lawsuits—and prevent them.How? By analyzing reams of contracts and looking for common traits and language that often lead to problems.
(H) Defense---BAE Systems PLC invests heavily in protecting itself from cyberattacks. But it says better data from its suppliers could help improve its defenses...if its suppliers get cyberattacked, its own h/w and s/w could be compromised. But "those suppliers are smaller businesses with lesser investments in their security," ...A lack of trust among suppliers, even those that aren't direct competitors, means only a small percentage of them disclose the data showing the cyberattacks on their systems. Sharing that data, he says, would strengthen the security of every product BAE makes. [BAE is expressing recognition of its vulnerability to network risk].
data  data_driven  massive_data_sets  Graze  banking  cyber_security  BAE  law_firms  Whirlpool  genomics  social_data  appliances  sense-making  predictive_analytics  dark_data  insights  customer_insights  real-time  design  failure  cyberattacks  hiring-a-product-to-do-a-specific-job  network_risk  shifting_tastes  self-protection  distrust  supply_chains 
november 2014 by jerryking

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