Sub-Zero, a mid-sized company based in the Midwest, has been able to create a brand of stainless steel, side-by-side refrigerators that have become status symbols for Hollywood starlets and Wall Street investment bankers alike. Its reputation for 20 years of reliability is one reason Sub-Zero can command premier pricing and compete against much larger rivals, such as Whirlpool and General Electric’s appliance division. One of the keys? Sub-Zero is a master of manipulating Big Data.
Like a growing number of other small and medium-sized companies, Sub-Zero has learned how to move beyond simply analyzing structured data, the type that exists in neat little rows and columns in a spreadsheet. It is now also analyzing “unstructured” data from customer service calls and warranty claims. Unstructured data does not exist in numerical form and often has to be massaged into a form that allows it to be blended to create a coherent picture of a company’s operations. Data-savvy companies are now also analyzing social media and capturing information from mobile devices, which are other signs of growing sophistication.
When smaller companies reach the big leagues of data analysis, it pays off, often giving them capabilities that larger firms lack. In the case of Sub-Zero, the company uses software from SAS, based in Cary, North Carolina, to search recordings of customer service calls for word pairs such as “compressor” and “failure.” The system applies “fuzzy logic” to analyze fields of text. If the system detects a problem, the company seeks to match the information up with the serial number of the refrigerator in question to determine exactly when it was made and what parts from which vendors were used. It also mines warranty claims to look for any patterns of quality or reliability problems. That detailed information flows back to product development and reliability teams, who are then able to improve the way the refrigerators are made and work out any kinks with suppliers. In one specific case, the company used its data system, which was upgraded last year, to identify a risk of failure in an electronic component many months earlier than its older system would have allowed. Thanks to that insight, Sub-Zero reckons it shipped 5,000 fewer refrigerators with risks of failure, avoiding as much as $250,000 in warranty expenses.
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1:00 - 5:00 pm
Over 70% of Executives Surveyed Agree: Many Strategic Planning Efforts Lack Systematic Approach Tips for Enhancing Your Strategic Planning Process
Executives expressed frustration with their current strategic planning process. Issues include:
Steve Rutan and Denise Harrison have put together an afternoon workshop that will provide the tools you need to address these concerns. They have worked with hundreds of executives to develop a systematic approach that will enable your team to make better decisions during strategic planning. Steve and Denise will walk you through exercises for prioritizing your lists and steps that will reset and reinvigorate your process. This will be a hands-on workshop that will enable you to think about your business as you use the tools that are being presented. If you are ready for a Strategic Planning tune-up, select this workshop in your registration form. The additional fee of $695 will be added to your total.
2:00 - 5:00 pm
Female leaders face the same issues all leaders do, but they often face additional challenges too. In this peer session, we will facilitate a discussion of best practices and how to overcome common barriers to help women leaders be more effective within and outside their organizations.
Limited space available.
10:30 - 5:00 pm
General’s Retreat at Hermitage Golf Course
Sponsored by UBS
General’s Retreat, built in 1986 with architect Gary Roger Baird, has been voted the “Best Golf Course in Nashville” and is a “must play” when visiting the Nashville, Tennessee area. With the beautiful setting along the Cumberland River, golfers of all capabilities will thoroughly enjoy the golf, scenery and hospitality.
The golf outing fee includes transportation to and from the hotel, greens/cart fees, use of practice facilities, and boxed lunch. The bus will leave the hotel at 10:30 am for a noon shotgun start and return to the hotel after the cocktail reception following the completion of the round.
