Friday, March 25, 2022
HomeTechnologyWhat's Knowledge Intelligence?

What’s Knowledge Intelligence?


The nonprofit world reached a “Tipping Level” in 2020: we imagine the way forward for our business will look considerably totally different from its previous.  

The sector is shifting away from galas and golf tournaments towards a strategic give attention to elevating extra by means of main items. Smaller, distributed groups are more and more counting on AI to synthesize information and optimize their workflows. And communication with every group’s constituencies more and more should be participating and personalised or it is going to be ignored.  

For-profit corporations have relied on these methods for years to serve up related content material and personalised experiences to deepen engagement with their model, and donors now count on that of their interactions with nonprofits.  

At Blackbaud, we imagine this future – the way forward for the nonprofit sector – will likely be supported by Knowledge Intelligence. 

What’s Knowledge Intelligence? 

Knowledge intelligence is the apply of reworking information into insights and worth. Our Intelligence for Good® method combines licensed and proprietary information property, world-class business information science experience, superior machine-learning methods, and sturdy analytic methodologies – all optimized to drive your mission influence.  

Nevertheless it’s not simply concerning the insights and worth generated – it’s about honoring the information in a manner that matches our core values. Because the world’s main cloud software program supplier powering social good, it’s our duty to make use of information, analytics, and synthetic intelligence in a socially helpful method. The software program, providers, and information intelligence capabilities that empower and join folks to drive influence for social good are designed upon a framework of equity, inclusiveness, reliability, and belief. 

Knowledge intelligence options for fundraising could be damaged into three classes: 

  1. Knowledge well being options that improve and preserve the well being of your information, guaranteeing you might be all the time working with correct, full, and up-to-date data. This helps make it potential so that you can nurture fruitful, intentional relationships along with your constituents. A couple of examples of information well being instruments embrace handle updaters and deceased report finders. 
  2. Augmented insights options can predict constituent habits and prescribe actions utilizing information science and machine-learning methods. Probably the most profitable fundraising organizations are utilizing augmented insights to establish the supporters probably to provide, analyze prospect wealth information, and personalize asks to resonate with their donors extra deeply. With this data, they will construct robust present officer portfolios, guarantee costly advertising and marketing like unsolicited mail goes to the perfect prospects, and enhance response charges with segmented lists and personalised content material. Examples of the kinds of augmented insights out there embrace wealth screenings, predictive modeling, and segmentation. 
  3. Efficiency evaluation options assist you perceive programmatic strengths, weaknesses, and alternatives. On the subject of enhancing fundraising efficiency, data is energy. Perceive how your donor packages and fundraising efforts examine to friends in your house and use the perception to broaden high-performing packages and handle underperforming ones. Examples of efficiency instruments embrace efficiency evaluation and benchmarking. 

How are Fundraising Organizations Utilizing Knowledge Intelligence? 

  • To construct stronger supporter relationships – By higher understanding supporter passions and preferences and focusing on communications and cultivation methods accordingly, you’ll be able to foster a happier, extra glad donors that will likely be extra more likely to proceed supporting a company for the lengthy haul. Find out how Atrium Well being Basis is utilizing information of their selections.
  • To enhance prospect identification – With main giving being a key focus and income driver throughout all types of nonprofit fundraising, it has change into vital that organizations establish potential main givers (and mid-level givers with long-term potential) early within the relationship. See an instance from Ronald McDonald Home Charities Bay Space.
  • To Improve Contribution Ranges – Predictive analytics can permit nonprofits to assign an applicable goal ask quantity for every donor, which retains from under-asking or leaving cash on the desk. Reward vary predictions may also be used to evaluate donor potential by way of actual {dollars}, serving to you prioritize cultivation efforts primarily based not simply on present giving degree but additionally potential.
  • To Enhance Response Charges – Understanding which supporters are probably to reply to totally different campaigns permits nonprofits to section extra successfully, mailing solely to those that are already philanthropically inclined and probably to supply a return on funding.
  • Cut back Mailing and Print Prices – Hand in hand with elevated response charges talked about earlier, with the ability to decide which donors are unlikely to reply to a marketing campaign helps keep away from losing postage, print, and processing {dollars} on unanswered communications. The mixed financial savings could be 1000’s of {dollars} per marketing campaign, if no more. Sisters of Charity discovered large monetary influence
  • Increase Productiveness – Direct labor is commonly the least understood and appreciated facet of a nonprofit’s funds, however it may be extraordinarily expensive. Analytics simplifies the processes that fundraising professionals should apply on daily basis, enabling them to do extra with much less and make investments their time in additional strategic methods. See how The Houston Zoo noticed a 373% enhance in ROI. 

Knowledge Intelligence and Your Group’s Future 

It’s not ample to carry information – a best-in-class database is simply desk stakes. On the finish of the day, the enjoyment in your work comes from what you do and the connections you create.  

Knowledge Intelligence helps you create a virtuous cycle.  On one hand, it’s going to assist your group be higher outfitted to do the work – to allow them to spend extra time with the appropriate prospects, participating them deeply along with your mission and increasing your group’s influence on the world.  On the identical time, it’s going to enrich the expertise of your workers by serving to them really feel profitable and related to your group’s influence.  

That is on the coronary heart of Intelligence for Good®, and we’re excited to share the place we’re heading as we proceed to attempt towards the business’s future with our prospects. 

ABOUT THE AUTHOR

Carrie Cobb is an achieved innovator and change-agent able to translating multifaceted information and analytics merchandise into profitable enterprise initiatives and shopper experiences. She holds over 20 years of expertise in creating data-driven analytic options, with the objective of leveraging superior analytic methodologies and synthetic intelligence to create straightforward to execute methods for the social good neighborhood. Because the Vice President and Head of Knowledge Intelligence, Carrie leads the Knowledge Intelligence Middle of Excellence, and is chargeable for the Blackbaud information technique, vertical centered product innovation, information science and informatics disciplines, and information stewardship and ethics.  

While you mix information science with the social good neighborhood, the outcomes could be outstanding. Knowledge science capabilities powered by shopper, social, attitudinal, and philanthropic tendencies end in analytics-driven insights and prescribed actions to create consciousness and allow efficient supporter relationships. Fundraisers have relied on Carrie’s distinctive expertise to assist enhance income year-over-year, construct a loyal and lively donor base, and enhance program efficiency throughout all channels and focus areas. Vital information science accomplishments embrace conceptualizing, creating, and launching business main predictive analytics capabilities together with the ProspectPoint, Principal Giving Answer, Goal Analytics Affluence, Fundraising Necessities, and the High Prospect Answer.  

Carrie holds a BS in Utilized Arithmetic from Coastal Carolina College, an MS in Strategic Administration from Indiana Wesleyan College, and is presently enrolled within the Chief Knowledge Officer program at Carnegie Mellon College. She additionally serves on the Governmental Affairs Committee for the Nonprofit Alliance, co-chairs of the Advisory Council on Methodology for the Giving USA Basis, serves as Madison Institute College Member for the Affiliation of Healthcare Philanthropy (College of Wisconsin, Madison), and is a board member with the Palmetto Army Help Group.  



RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Most Popular

Recent Comments