Databases Reference
In-Depth Information
claims managers can see how close they are to reaching the target of
making a first payment on claims within the first ten days of opening a
new claim.
Reporting and understanding financial results:
A data warehouse can
help identify departments that have exceeded their monthly budgets,
highlight suppliers who have consistently met profitability goals, and
single out products that have contributed the most (or least) to the bottom
line.
Understanding customers and their behavior:
Exception reports that
highlight changes in consumer purchase patterns can help identify shifts
in the marketplace or erosion of brand loyalty. For example, early identi-
fication of changes in payment patterns might indicate that a customer is
under financial pressure and could benefit from a courtesy call to prevent
more serious problems.
Identifying high-value customers:
Using the data warehouse to identify
the lifetime value of customers helps with the development of loyalty
programs and improves customer service. Some customers may generate
many business transactions, but they may not actually be profitable.
Other customers may contribute consistently to the organization's profits
without a lot of hands-on interaction or support.
Attracting and retaining high-value customers:
Data warehouse reports
can help you to develop a profile of high-value customers so that
initiatives can be created to seek out new customers with a similar
profile. This may mean offering low-cost incentives early on so that
the organization has the opportunity to develop a strong long-term
relationship.
Better selection or development of new products:
Having integrated
data in a common place, the data warehouse can help streamline the
product development process by enabling all groups involved to quickly
access market research test results, product packing cost scenarios, and
projected product sales.
Understanding which products should be scaled back or eliminated:
Using the data warehouse, reports can be generated to highlight prod-
ucts with lagging sales. Additional analyses can be run to determine
the cost effectiveness of continuing to carry these items in stores. The
data warehouse can also be used to help develop plans identifying
when trendy items should be marked down to clear out any remaining
inventory.
Understanding business competitors:
The data warehouse can provide
reports to compare internal sales volumes with external competitor sales
