By Greg Duke
In my previous blog post, I warned that the United Kingdom Information Commissioners’ Office (UK ICO) might be preparing to take a hard line on companies which fail to protect their customers’ personal data under GDPR regulations. On July 9, 2019, the UK ICO followed through on the threat in dramatic fashion. The Office fined British Airways £183 million ($228.3 million) for a breach which exposed 500,000 customers’ personal data and credit card details to a criminal hack; and, the Office announced plans to fine Marriott Corporation—a US-based company—£99.2 million ($123.8 million) for exposing the personal details of 339 million of its customers to third parties.
While driving home from Apra Prospect Development, I listened to this TED talk. The article brought my mind back to some work I’m doing on estimating the number of gift officers needed to meet a campaign goal. For analytics projects like this, I use the traditional prospect count – 150. However, I have wondered if that portfolio size is just an inherited paradigm. The TED podcast gave some insight by introducing me to Dunbar’s Number.
This blog appeared in the APRA Upstate New York newsletter in the fall of 2009.
As fundraisers, we focus our resources on major gifts prospects. However, with Big Data bringing out a lot more information from social networking, we now see the value of using modeling and mining tools to help annual giving, membership, and events programs. Our recent conversations have centered on engagement – a rather nebulous term we use to try to understand what our donors feel about us before they give for the first time.
This blog post explores using a popular measure, RFM (explained below), as a modeling tool. There is some debate about its use in modeling major gifts, and so I share my thoughts here. If you have used RFM to measure your prospect giving behaviors, let us know at email@example.com.