MBN sponsor the Data scientist and big data leader award: Winner Announced!
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MBN Solutions took great pleasure in attending, sponsoring and awarding an award at the recent DataIQ Talent Awards in London. The award was presented by our CEO, Michael Young, to the BI Analytics team at News UK.
The BI Analytics team created a simulation environment using agent –based modelling which allows executives to test new business ideas quickly, flexibly and risk-free. Using agent-based modelling, the solution generates predictions for the outcome of new product propositions, price points and bundles.
News UK has a heritage of long-standing and highly-visible news brands which customers expect to provide high-quality content with unrivalled production values in both printed and digital channels. Newspaper publishers have traditionally relied on gut instinct when making decisions. With revenues from print sales and advertising under pressure, identifying the opportunities in digital channels has become essential, such as identifying product types and price points that will appeal to both existing customers and future prospects.
The agent-based model represents everyday behaviour in the paid-news marketing in the UK. Sophisticated predictive modelling shows the likely impact of new content or products rapidly, removing the need for slow-moving, survey-based trial and error. The business is now able to examine a range of questions, such as bundles, tenure, pricing, and how these will impact on existing customers as well as their effect on incremental sales and revenues.
The model uses a range of variables – demographic, economic, attitudinal and psychographic – to run different behaviours, showing segment differences, tenures and churn. By applying it to key titles in the News UK stable, the model has been able to identify significant potential opportunities, giving marketing forecasts for proposed bundles and price points.
The judges described the solution as “data-driven clairvoyance”, admiring its innovative approach across a broad range of business challenges. It was a clear winner for providing de-risked product development, financial forecasting and marketing.
The ceremony itself was a great event aboard the luxury Thames cruiser, Silver Sturgeon on the 17th June. An event which facilitated key directors and senior staff of MBN Solutions catching up with many contacts and networked associates from the world of Insight and Analytics.
“It is our involvement in events such as the Data IQ Talent Awards that really cements our position as a leading ‘People Solutions’ provider to those in this increasingly important sector.”
Paul Forrest, Chairman – MBN Solutions
“It is always a pleasure to catch up with people we have placed in senior positions in leading businesses such as those represented by the awards and in attendance at the event. It was a great night had by all and we look forward to working closely with DataIQ over the coming years. Huge congratulations to all the winners.”
Michael Young, CEO – MBN Solutions
A full list of the winners can be found on the DataIQ website here. Congratulations from all at MBN!