Data is About Facts, Not Interpretation
Oracle SVP Mark Barrenechea Pushes Analytics
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Oracle Corp. recently unveiled the availability of its Daily Business Close, which is designed to share analytical information from an organization's transactional system across the enterprise in real time. Mark Barrenechea, senior vice president of applications development at Oracle, who is responsible for call center, sales, marketing, customer care and service, electronic commerce, and mobile applications, spoke with David Myron, senior editor at CRM magazine, about the new application. CRM: What customer pain does Daily Business Close solve? Mark Barrenechea: A lot of companies are managed by opinion and some are even managed by torque. We think the best way to manage a company is by fact, and Daily Business Close is meant to present the facts from of your enterprise software and leave less room for interpretation. CRM: How is it different than previous analytical applications from Oracle? Barrenechea: First, it's real-time information out of your transactional system. Second, it's always been a little riddle for me that companies can spend $20 million to $100 million on enterprise software, but the president or the CEO never sees any of it. And that just seems odd. So this is meant for senior executives to use in their companies. The data is more encompassing as you go up the hierarchy, but it's unique in that it's targeted at c-level executives and the same data is also visible to every employee. As a sales rep I might see my pipeline, my customers, my references, and my forecast. The CEO may see those same business objects, but see them for the entire company and see trends over a period of time. So you can think of it as the same functionality, but you get your [own personal] data. In the marketing process the point of marketing automation is to generate a qualified lead. That lead gets handed to a sales organization. Marketing organizations can have tens and hundreds of millions of dollar budgets with complex distribution organizations. So Daily Business Close is intended to see how many leads came in globally through all of your channels, what quality were they, what percentage of conversion leads went to opportunities, and what percentage of leads went to orders. So your chief marketing officer can understand the effectiveness of his marketing dollars spent. He can manage his peers and his boss with it. CRM: How is Oracle using Daily Business Close? Barrenechea: One of the first areas we deployed the Daily Business Close was in our contract renewals business, which is close to a $5 billion business globally. With the Daily Business Close we were able to improve our business process for renewals and actually increase our renewal rate by four to five percent. At such large numbers that's pretty significant. CRM: Are there any technological requirements to use the Daily Business Close? Barrenechea: The only minimum requirement I can think of is using the Oracle e-business suite. CRM: How is the pricing structure set up for the Oracle e-business suite? Barrenechea: We announced some new pricing about five months ago. It's called the e-business suite pricing, which is a flat fee per user for all of our software. This is part of our e-business suite pricing. I believe it's about $4,000 per seat for a professional user and $400 for a casual user. It's a perpetual license, so it's effective as long as you stay with the maintenance for update rights, which costs between fifteen to seventeen percent of the seat license.
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