San Francisco, CA (PRWEB) January 21, 2008
KXEN's next generation data mining automation technology can cut workloads and time to market by as much as 90 percent, turn a majority of lapsed customers back into active revenue generators, and is tipped by Gartner as a major trend for 2008/2009.
These were just some of the conclusions at the company's international user conferences in San Francisco and Paris where users, analysts and consultants met to share best practice, see presentations from industry experts and peers and hear KXEN executives outline the future strategy of the technology. They also heard San Francisco event premium sponsor Teradata -- together with co-sponsors Alterian, Business & Decision, Entiera, Geoconcept and Mayato -- outline their own achievements in the analytics field.
In San Francisco Jim Oliver -- formerly director of analytics at eBay and now with Google -- told how he used KXEN's software to cut the time needed for customer segmentation projects at eBay down from more than six months to as little as one day to a week. "Using the slower, traditional method models were often partially out of date by the time they were implemented. KXEN directly outputs usable code and it was possible to score tens of millions of users in minutes," he said.
From Lowe's Companies, customer analytics statistician and KXEN user Shantonu Mazumdar told delegates how analytics-based research had grown to become an enterprise activity, underlining the contribution of KXEN's high volume solution. "Customers drive our business and we will enhance our understanding of our customers and their needs through continuous learning," he said.
"KXEN's minimal data preparation requirements and abilities in rapid variable reduction are unparalleled and provide a great benefit in model turnaround. Producing models at a faster pace was the deciding factor."
Gartner analyst Gareth Herschel outlined a growing role for high productivity data mining -- typified by KXEN -- across all industries in the next 18 months. He forecast particular growth in the areas of inbound offers and pricing optimization, together with a 50 percent increase in the use of text mining in telecommunications, retail and media. "Analytics can add value to a business process by addition, improvement, or by cutting steps to the process. Look beyond improvement. Consider how data mining can drive changes," he told the audience.
In Paris Kunter Kutluay, director of marketing and risk analytics at Turkey's Finansbank, described a campaign using KXEN's software and aimed at stimulating new business from customers who had become inactive. Within four months more than half of them were spending money with the bank again. "Unlike traditional tools with long cycle times, KXEN lets us make accurate determinations very quickly. The KXEN technology allowed Finansbank to shorten execution times and turn analytics into a competitive advantage," he said.
Also in Paris, expert consultant Wolfgang Martin outlined the intelligent enterprise where data mining is used across every part of customer engagement, and predicting its seamless integration into core business processes. As an example, he described a customer service centre where real-time analysis of personal profiles could be used to match callers to the most appropriate agent, then go on to suggest product offers that callers were most likely to buy.
"The goal of data mining is to identify patterns in any data sources and turn them into knowledge that lets ordinary business people immediately comprehend the dynamic state of their business, and act accordingly," he said.
KXEN's data mining solution is unique for its speed and its automated data mining capability. With KXEN, marketing, sales and other business people can create, deploy and see the results of analytical models in hours, a task which requires highly skilled analysts and takes days or weeks with traditional first generation data mining tools
KXEN, the data mining automation company, drives next generation customer lifecycle analytics for enterprises looking to compete on analytics. Unlike traditional data mining providers, KXEN offers unmatched automation to integrate robust and accurate decision support into core business processes. KXEN technology delivers large improvements in customer acquisition, cross-sell, and retention applications at more than 500 sites around the world. Founded in 1998, KXEN has headquarters in San Francisco, California and Paris, France. For more information, please visit http://www.kxen.com.
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