Unstructured Data Analytics: How to Improve Customer Acquisition, Customer Retention, and Fraud Detection and Prevention

Unstructured Data Analytics: How to Improve Customer Acquisition, Customer Retention, and Fraud Detection and Prevention

By: Jean Paul Isson (author)Hardback

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Description

Turn unstructured data into valuable business insight Unstructured Data Analytics provides an accessible, non-technical introduction to the analysis of unstructured data. Written by global experts in the analytics space, this book presents unstructured data analysis (UDA) concepts in a practical way, highlighting the broad scope of applications across industries, companies, and business functions. The discussion covers key aspects of UDA implementation, beginning with an explanation of the data and the information it provides, then moving into a holistic framework for implementation. Case studies show how real-world companies are leveraging UDA in security and customer management, and provide clear examples of both traditional business applications and newer, more innovative practices. Roughly 80 percent of today's data is unstructured in the form of emails, chats, social media, audio, and video. These data assets contain a wealth of valuable information that can be used to great advantage, but accessing that data in a meaningful way remains a challenge for many companies. This book provides the baseline knowledge and the practical understanding companies need to put this data to work. Supported by research with several industry leaders and packed with frontline stories from leading organizations such as Google, Amazon, Spotify, LinkedIn, Pfizer Manulife, AXA, Monster Worldwide, Under Armour, the Houston Rockets, DELL, IBM, and SAS Institute, this book provide a framework for building and implementing a successful UDA center of excellence. You will learn: How to increase Customer Acquisition and Customer Retention with UDA The Power of UDA for Fraud Detection and Prevention The Power of UDA in Human Capital Management & Human Resource The Power of UDA in Health Care and Medical Research The Power of UDA in National Security The Power of UDA in Legal Services The Power of UDA for product development The Power of UDA in Sports The future of UDA From small businesses to large multinational organizations, unstructured data provides the opportunity to gain consumer information straight from the source. Data is only as valuable as it is useful, and a robust, effective UDA strategy is the first step toward gaining the full advantage. Unstructured Data Analytics lays this space open for examination, and provides a solid framework for beginning meaningful analysis.

About Author

JEAN PAUL ISSON is a recognized worldwide expert and evangelist in Big Data Analytics and Advanced Business Analytics, with over 22 years of experience. He is the author of Win with Advanced Business Analytics and People Analytics in the Era of Big Data. As Global Vice President of Predictive Analytics & BI at Monster Worldwide Inc. he has built his team from the ground up and successfully conceived and implemented global customer scoring, predictive models and segmentation, machine learning and deep learning solutions, web mining applications, and people analytics solutions for Monster across North America, Europe, and Asia/Pacific. He is also the Founder of the People Analytics Institute.

Contents

Foreword xiii Preface xv Acknowledgments xix Chapter 1 The Age of Advanced Business Analytics 1 Introduction 1 Why the Analytics Hype Today? 5 A Short History of Data Analytics 15 What Is the Analytics Age? 22 Interview with Wayne Thompson, Chief Data Scientist at SAS Institute 23 Key Takeaways 28 Notes 29 Further Reading 30 Chapter 2 Unstructured Data Analytics: The Next Frontier of Analytics Innovation 33 Introduction 33 What Is UDA? 35 Why UDA Today? 39 The UDA Industry 48 Uses of UDA 51 How UDA Works 52 Why UDA Is the Next Analytical Frontier? 54 Interview with Seth Grimes on Analytics as the Next Business Frontier 58 UDA Success Stories 60 The Golden Age of UDA 64 Key Takeaways 65 Notes 66 Further Reading 67 Chapter 3 The Framework to Put UDA to Work 69 Introduction 69 Why Have a Framework to Analyze Unstructured Data? 70 The IMPACT Cycle Applied to Unstructured Data 72 Text Parsing Example 81 Interview with Cindy Forbes, Chief Analytics Officer and Executive Vice President at Manulife Financial 84 Case Study 90 Key Takeaways 106 Notes 107 Further Reading 108 Chapter 4 How to Increase Customer Acquisition and Retention with UDA 109 The Voice of the Customer: A Goldmine for Understanding Customers 109 Why Should You Care about UDA for Customer Acquisition and Retention? 111 Predictive Models and Online Marketing 117 How Does UDA Applied to Customer Acquisition Work? 118 The Power of UDA for E-mail Response and Ad Optimization 124 How to Drive More Conversion and Engagement with UDA Applied to Content 124 How UDA Applied to Customer Retention (Churn) Works 125 What Is UDA Applied to Customer Acquisition? 129 What Is UDA Applied to Customer Retention (Churn)? 135 The Power of UDA Powered by Virtual Agent 136 Benefits of a Virtual Agent or AI Assistant for Customer Experience 138 Benefits and Case Studies 139 Applying UDA to Your Social Media Presence and Native Ads to Increase Acquisitions 151 Key Takeaways 153 Notes 154 Chapter 5 The Power of UDA to Improve Fraud Detection and Prevention 157 Introduction 157 Why Should You Care about UDA for Fraud Detection and Prevention? 159 Benefits of UDA 163 What Is UDA for Fraud? 168 How UDA Works in Fraud Detection and Prevention 170 UDA Framework for Fraud Detection and Prevention: Insurance 173 Major Fraud Detection and Prevention Techniques 176 Best Practices Using UDA for Fraud Detection and Prevention 179 Interview with Vishwa Kolla, Assistant Vice President Advanced Analytics at John Hancock Financial Services 182 Interview with Diane Deperrois, General Manager South-East and Overseas Region, AXA 184 Key Takeaways 187 Notes 189 Further Reading 189 Chapter 6 The Power of UDA in Human Capital Management 191 Why Should You Care about UDA in Human Resources? 191 What Is UDA in HR? 193 What Is UDA in HR Really About? 195 The Power of UDA in Online Recruitment: Supply and Demand Equation 196 The Power of UDA in Talent Sourcing Analytics 197 The Power of UDA in Talent Acquisition Analytics 205 Artificial Intelligence as a Hiring Assistant 206 The Power of UDA in Talent Retention 207 Interview with Arun Chidambaram, Director of Global workforce intelligence, Pfizer 208 Employee Performance Appraisal Data Review Feedback 210 How UDA Works 211 Benefits of UDA in HR 212 Case Studies 213 Interview with Stephani Kingsmill, Executive Vice President and Chief Human Resource Officer, Manulife 213 Key Takeaways 216 Further Reading 217 Chapter 7 The Power of UDA in the Legal Industry 219 Why Should You Care about UDA in Legal Services? 219 What Is UDA Applied to Legal Services? 224 How Does It Work? 224 Benefits and Challenges 231 Key Takeaways 234 Notes 235 Further Reading 235 Chapter 8 The Power of UDA in Healthcare and Medical Research 237 Why Should You Care about UDA in Healthcare? 237 What s UDA in Healthcare? 245 How UDA Works 250 Benefits 255 Interview with Mr. Francois Laviolette, Professor of Computer Science/Director of Big Data Research Centre at Laval University (QC) Canada 257 Interview with Paul Zikopolous, Vice President Big Data Cognitive System at IBM 258 Case Study 262 Key Takeaways 263 Notes 264 Further Reading 265 Chapter 9 The Power of UDA in Product and Service Development 267 Why Should You Care about UDA for Product and Service Development? 267 UDA and Big Data Analytics 268 Interview with Fiona McNeill, Global Product Marketing Manager at SAS Institute 283 What Is UDA Applied to Product Development? 297 How Is UDA Applied to Product Development? 300 How UDA Applied to Product Development Works 301 Key Takeaways 303 Notes 304 Chapter 10 The Power of UDA in National Security 307 National Security: Playground for UDA or Civil Liberty Threat? 307 What Is UDA for National Security? 310 Data Sources of the NSA 310 Why UDA for National Security? 314 Case Studies 320 How UDA Works 322 Key Takeaways 323 Notes 324 Further Reading 325 Chapter 11 The Power of UDA in Sports 327 The Short History of Sports Analytics: Moneyball 328 Why Should You Care about UDA in Sports? 333 What Is UDA in Sports? 338 How It Works 342 Interview with Winston Lin, Director of Strategy and Analytics for the Houston Rockets 343 Key Takeaways 347 Notes 347 Further Reading 348 Chapter 12 The Future of Analytics 349 Harnessing These Evolving Technologies Will Generate Benefits 350 Data Becomes Less Valuable and Analytics Becomes Mainstream 353 Predictive Analytics, AI, Machine Learning, and Deep Learning Become the New Standard 355 People Analytics Becomes a Standard Department in Businesses 358 UDA Becomes More Prevalent in Corporations and Businesses 359 Cognitive Analytics Expansion 359 The Internet of Things Evolves to the Analytics of Things 360 MOOCs and Open Source Software and Applications Will Continue to Explode 361 Blockchain and Analytics Will Solve Social Problems 362 Human-Centered Computing Will Be Normalized 364 Data Governance and Data Security Will Remain the Number-One Risk and Threat 365 Key Takeaways 366 Notes 367 Further Reading 367 Appendix A Tech Corner Details 369 Singular Value Decomposition (SVD) Algorithm and Applications 370 Principal Component Analysis (PCA) and Applications 382 PCA Application to Facial Recognition: EigenFaces 392 QR Factorization Algorithm and Applications 394 Note 399 Further Reading 399 About The Author 401 Index 403

Product Details

  • ISBN13: 9781119129752
  • Format: Hardback
  • Number Of Pages: 432
  • ID: 9781119129752
  • weight: 642
  • ISBN10: 1119129753

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