IT executives now able to achieve ROI more quickly by growing data warehouses in less cash-intensive, phased increments
EDINBURG, Scotland -- Teradata, a division of NCR Corporation (NYSE: NCR), has introduced the Teradata® Warehouse 6.2 suite -- which includes Teradata® Warehouse Miner 3.1 data mining software and other enhancements -- at the Teradata Universe technology conference in Edinburgh, Scotland.
Teradata Warehouse 6.2 was designed to enable executives to grow a Teradata enterprise-wide data warehouse in smaller, less cash-intensive increments, phased as the return on investment (ROI) is achieved. At each stage, the Teradata Warehouse 6.2 suite helps executives solve the business problems of how to increase revenue, reduce expenses and identify new business growth opportunities.
"Teradata enables businesses to achieve data warehouse ROI in weeks while the competitors' customers are still struggling to see ROI after months or even years," said Vickie Farrell, vice president of Teradata warehouse marketing. "Teradata Warehouse 6.2 now gives IT executives even more flexibility to build a data warehouse at their pace while giving them more control over cash flow. They can align the growth of the data warehouse with the growth of the business to achieve maximum ROI."
"The investment in the Teradata warehouse paid for itself within a year," said Kari Opdal, head of customer relationship management at Union Bank of Norway. "We measured this by the significant lifts in campaign response rates. On average, we moved our direct mail campaign conversion rates from a range of 0.5 percent to 2 percent up to a range of 5 percent to 10 percent. These results encouraged more areas of the bank -- finance accounting and auditing, as well as IT and marketing -- to rely on the data warehouse for data analysis. So today, the data warehouse has become the heart of our organization with nearly 3,000 users."
The suite includes enhanced tools and utilities combined with the increased capabilities of Teradata Warehouse Miner 3.1 data mining software. Each component of the Teradata suite has been carefully designed for incremental growth and to create a solid foundation on which Teradata data warehousing, data mining and analytic applications can achieve maximum performance.
The analytical power of Teradata Warehouse Miner 3.1 provides companies with data mining capabilities to help plan cross-selling initiatives, tailor marketing campaigns and analyze the effectiveness of customer promotions. One of the enhancements, affinity analysis, enables executives to predict the likelihood of products being purchased together and ending up in the same market basket. With this information, retailers can better plan product offerings.
An additional data mining enhancement, sequential analysis, offers the capability to look at the relationships of two or more events over time. This provides information about which products are likely to be purchased at the time of the next transaction. For example, if a customer opens a new checking account at a bank, then the customer may open a savings account followed by a credit card on a future visit.
In 1999, Teradata was the first database vendor to integrate the data mining process into the database engine, thereby leveraging the inherent parallelism and processing power of Teradata. This integration of data mining within a centralized data warehouse streamlined the data mining process and made it possible to mine large volumes of data for the first time with improved accuracy and speed.
In addition, the expertise of the Teradata Professional Services consulting team empowers the IT professional, data miner and business user to work together to build data mining competence regardless of the current level of proficiency. The hands-on mentoring approach of the Teradata consulting team helps businesses be more successful, more quickly.
About Teradata Division
Teradata, a division of NCR Corporation, offers powerful analytical solutions that help businesses drive growth. Teradata solutions include the Teradata database, and analytical applications for customer relationship management, operations and financial management, business performance management and e-business. To learn more about Teradata Division and its solutions, go to www.teradata.com.
About NCR Corporation
NCR Corporation (NYSE: NCR) is a leader in providing Relationship Technology™ solutions to customers worldwide in the retail, financial, communications, manufacturing, travel and transportation, and insurance markets. NCR's Relationship Technology solutions include privacy-enabled Teradata® warehouses and customer relationship management (CRM) applications, store automation and automated teller machines (ATMs). The company's business solutions are built on the foundation of its long-established industry knowledge and consulting expertise, value-adding software, global customer support services, a complete line of consumable and media products, and leading edge hardware technology. NCR employs 30,300 in more than 100 countries, and is a component stock of the Standard & Poor's 500 Index. More information about NCR and its solutions may be found at www.ncr.com.
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