Stellar announced the partnership with the Center for Business Analytics and the MSBA student team via a press release regarding the 2019-2020 academic year. Since the Center’s conception in 2017, organizations facing data-driven problems or that are seeking analytical insight into their business can submit a project proposal to the Center for Business Analytics at the Milgard School. Companies or organizations benefit from a team of advanced graduate students working on an important actionable project. One such company that has submitted multiple proposals (for 2017-2018 and 2019-2020) is Stellar Industries.
Students worked closely with Rene Savage, Stellar Industrial Vice President of Technology Solutions, to develop a marketing analytics prototype solution that delivers KPIs (key performance indicators) aimed at increasing customer satisfaction and retention. The solution ties together disparate data from multiple back-end sources, identifying customer segments and performs gap analysis, enabling Stellar to quickly deliver smarter cross-sell and upsell opportunities for both existing and new customers.
"We’ve taken the project from the last year and have built a new analytics program. The project was the kickstart to a more comprehensive solution that offers new insights to our business." -Rene Savage, V.P. Technology Solutions, Stellar Industrial
Stellar has one of the fastest growing supply chain mechanisms for its business, using SalesForce.com, Epicor Prophet 21, and other sources to collect and manage their customer data. Stellar needs further help to develop a strategy, plan and prototype solution for their marketing analytics. Through customer understanding Stellar can begin to prioritize which key customers to grow their relationship that will ultimately grow the Stellar business.
The purpose of this year’s project is to identify new sales opportunities for existing and potential customers that will increase Stellar’s share in the industrial supply market using the best business analytics solutions to identify customer segments and perform gap analysis which will create cross-sell and upsell opportunities for existing and new customers.
The results and findings of the student teams for all companies including Stellar will be showcased on June, 5, 2020.
As the Center’s Executive Director Dr. Haluk Demirkan states:
“Today time is the most important currency. Time is more valuable than money. Our students have time and the unique ability to bring creativity, fresh insights, and apply innovative approaches towards achieving real business outcomes in the data-driven digital era.”
The Benefits to Companies like Stellar include:
· Leverage fresh student insights and receive help applying new innovative approaches
· Minimal to zero-cost opportunity to gain a fresh approach to an industry problem
· Access non-exclusive commercial licenses to any IP developed by diverse student teams or UW employees through the project
· Have access to students and graduates who will have the most current knowledge and skills (e.g. business analytics, data science)
· Gain insight into student skills and knowledge for more efficient and effective recruitment
· Strengthen community ties to the Milgard School of Business and the University of Washington Tacoma
· Great opportunity for professional development in leadership and/or project management for industry mentors
· Provide Milgard Schools students valuable, career-relevant experiences in applying classroom skills to address real world problems