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NEDRA NEWS
 

The NEDRA News blog features topical industry-specific articles submitted by our membership; book, publication, film, and resource reviews; op-ed pieces about emerging fundraising topics and issues; and information and news specifically related to NEDRA as an organization.  We hope these selections will be of interest to you - and we encourage you to share your thoughts and comments here!


NEDRA News was previously a quarterly journal of prospect research published by the New England Development Research Association from the organization's inception in 1987 until the end of 2011. Since 2012, we have continued to offer to you, our members, the same NEDRA News content you have come to rely on - but in a blog format tailored to meet the changing needs of our members, and featuring new content on a monthly (rather than quarterly) basis.


  • Ten Tips for Predictive Modeling in Fundraising

    Fri, April 25, 2014 3:56 PM | Laura Parshall
    At last month's conference, Caitlin Garrett, senior statistical analyst at Rapid Insight, presented an educational session on the subject of predictive modeling. If you missed her presentation, she has kindly written an article based on the information it contained. Read on for useful tips on tackling predictive modeling!

    Ten Tips for Predictive Modeling in Fundraising

     

    Over the years, we’ve helped many organizations bring predictive modeling in-house and have learned a lot along the way. Below is a “best of” list of ten tips that our fundraising customers helped us put together to make the modeling process – from idea through to execution – go a little bit more smoothly.    

     

    1.  Establish buy-in before your first modeling project

    Getting leadership support before your project gets off the ground will ensure that your modeling efforts have a strong foundation and will not flounder as you encounter challenges along the way. Communication during the modeling process is key and this is the first step. By openly communicating about your predictive modeling project from the start, you can be clear about expectations, outcomes, and the process before you begin.
    2.  Pick the best person for the project
    The person in charge of predictive modeling will have to collect, analyze, and work with the results from your data. This person should be a creative problem-solver who is willing to learn. Ideally, this person is someone who is already working with the data. A person who understands your data – how it is stored, labeled, and used – can learn any statistical techniques they might need to know, but it is harder to learn the data while doing so.
     
    3.  Data preparation is 80% of the modeling process
    You may have heard of the term GIGO – garbage in, garbage out – which is a creative way of saying that a model is only as good as the data you use to create it. That said, data preparation is crucial as you’re gearing up to build a model. This means creating new variables, checking for missing values, and making sure your dataset is “clean”. If possible, create a data preparation process that is repeatable, which will ensure that your time is well-spent. It’s worth the investment.

    4.  Avoid common mistakes
    Luckily, fundraisers have a particularly supportive community, and many of them have some experience with predictive modeling. Talk to anyone who’s worked with models to see what has worked for them, what hasn’t and what advice they have. Accurate models mean better results, which is incentive to avoid any of the “easy” mistakes. There are lots of reputable sources online to check out as well.

    5.  Incorporate as much data, from as many places, as possible
    Gather as much information about each of your constituents as possible. In collecting data, strive for the most complete picture of your constituents that you can create from your data. This includes demographic data, giving history data, membership data, occupational data, event history data, swipe or visit data, and any other data you might have available.

    6.  Time-slice your data to get the most out of it
    Time-slicing your data allows you to see what a person looked like before they gave they responded to a mailing, gave their first gift, or became a major donor. Once you establish what they looked like before an event, you can apply that knowledge to your current database to see who might be likely to exhibit the same behavior. Additionally, time-slicing your data will actually augment your dataset, making your modeling efforts more robust.

    7.  Communicate with stakeholders often
    Staying in touch with stakeholders works both ways – making sure that they are informed of your progress keeps everyone’s expectations on the same page, and checking in with them keeps you engaged with the bigger picture and how modeling will support your organization’s objectives. When framing communication, keep your end audience in mind – in lots of cases, a dashboard or visualization will convey what you’ve learned better than a series of raw numbers.

    8.  Choose the right vendor
    When you are using the results of a predictive model to make key decisions within your organization, it’s important that you can own the decisions and knowledge that went into the model. Additionally, make sure that you have the ability to change and update your models as needed without having to pay heavy fees. If you aren’t confident in your predictive modeling skillset, look for a knowledge partner who can teach you best practices and techniques. At the end of the day, you’ll need to be confident that you can explain the model scores to your team and how you got from raw data to the decisions you’ve made.

    9.  Measure your progress
    As you’re implementing your model results, keep your KPI’s and organization-wide goals in mind. Track the impact that your model is having. For example, if you’re using the model to decide who to mail, track the responses that come in from people you would not have mailed prior to using the model. This will tell you the impact the model is having on your responses.

    10.  Reduce, reuse, recycle
    The process of building a model shouldn’t be a single-use effort. Reuse the data cleansing and extracting processes for other analyses. Reduce stress by automating reports whenever possible to keep everyone on the same page. Finally, recycle the knowledge you gain through your organization – the value of a model isn’t limited to the scores. You’ll gain an understanding of your data, historical trends, and an idea of what to expect – all of which is valuable and not necessarily contained in a single model score. 

  • Rapid Insight - 2014 NEDRA Sponsor

    Fri, April 25, 2014 2:15 PM | Laura Parshall
    Click on the image below for more exciting information!


  • Upcoming NEDRA Programming

    Fri, April 25, 2014 2:07 PM | Laura Parshall
    Thanks to all who turned out for the April 16th RING on the markers of philanthropy! If you're eager for more NEDRA programming, don't worry: we have some on the horizon. On May 30th, a panel on Chinese philanthropy will take place, featuring fundraisers who have experience working with donors in China. Later this summer, get ready for a half-day workshop on prospect management, with Dee Black Rainville of the Holderness School presenting. As always, watch your inbox and the Upcoming Programs page for more information, and if you have a great idea for a program, submit it at the Program Proposal page.

  • Grenzebach Glier and Associates- 2014 NEDRA Sponsor

    Fri, April 25, 2014 2:05 PM | Laura Parshall
    Click on the image below for more exciting information!


  • Looking Back: Taking the Pulse on your Research Organization

    Fri, April 25, 2014 2:00 PM | Laura Parshall
    Since we mentioned surveys that NEDRA has done and will do in this month's blog, this article from 2009 by Julie Macksoud on how to perform a departmental survey seems particularly appropriate. Learn how to construct a survey, how to administer it, and how to make the most of the results.

  • Peek Under the Hood: News from the NEDRA Board

    Fri, March 28, 2014 10:08 AM | Laura Parshall

    The NEDRA Board is happy to say that this year's Annual Conference, "Strategies for Success," was (quite appropriately) very successful! We hope that all attendees had a good time and learned a lot. There are some changes to announce from this year's Annual Business Meeting, held during the conference. First of all, Amber Countis will be coming to the end of her term of office as NEDRA's president at the end of June. She has been a wonderful leader for our organization, and we are all very grateful to her for her hard work and dedication! We're pleased to announce that Suzy Campos (one of this year's Conference Committee co-chairs) will be NEDRA's next president. If her skill at putting together this conference is any indication, she will do a wonderful job. Congratulations, Suzy! The other Board Officers for the coming year will be as follows:


    Tara McMullen, Vice President

    Lisa Foster, Secretary

    Bruce Berg, Treasurer


    NEDRA's Board also has a new member. Please welcome Sarah Benson, Director of Development Research at Wesleyan University, to the Board! Sarah will officially begin her term of office on July 1.


    Lastly, during the Annual Business Meeting, a vote was taken to ratify changes to NEDRA's bylaws. The changes state that NEDRA Board Officers must be members of APRA International, and that if necessary, NEDRA may choose to pay the membership dues to APRA International for its Officers. Also, they state that any Director absent from either two Board meetings of from the Board retreat and one meeting without reasonable or sufficient cause may, upon consideration of the Board, be removed from office. 


    Read on for more information about the conference, and the rest of the NEDRA News!

  • Rapid Insight - 2014 NEDRA Sponsor

    Fri, March 28, 2014 9:35 AM | Laura Parshall
    Click on the image below for more exciting information!


  • 2014 Conference Recap

    Fri, March 28, 2014 9:31 AM | Laura Parshall

    Another Successful NEDRA Conference!

     

    This year, the Conference Committee and all our wonderful volunteers helped make the 2014 annual conference, "Strategies for Success," one of the best yet.  More than 230 people attended, representing all the New England states, a number of other states, and even Canada.


    The two-day conference was preceded by a Research Basics Bootcamp for the first time ever. Forty-six new researchers learned tricks of the trade from Roslyn Clarke, Amy Begg, and Nancy Faughnan. The conference itself kicked off on Thursday morning with a very inspiring keynote speech by Dan Pallotta, who reminded us all why fundraising organizations are worth investing money in. Pallotta also signed copies of his book Charity Case--and the chalkboard wall at the conference hotel!

    Although Pallotta was a hard act to follow, the educational session presenters did a great job. They covered topics from prospect management to career advancement to research during campaigns.


    Thursday at lunch, the recipients of the first Heather Reisz Scholarships were announced.  Congratulations to Monique Bourgeois Miller from Hampshire College and Laura Koo from the Art Institute of Chicago! Monique said that she loved how informative the conference was, and said that there was a lot to learn. Laura, who had worked with Heather Reisz, mentioned that she'd been inspired by Heather's enthusiasm, and by how seriously she took research as a profession.


    Heather herself was honored with more than the memorial scholarship in her name at this year's conference. She was also the posthumous recipient of the Ann Castle Award. Heather's sister, Katherine Reisz-Hanson, accepted the award on her behalf. Katherine spoke of her pride in her sister, for the respect shown to her by her industry peers.

    At the end of the day on Thursday, many conference attendees and other NEDRA members met up for the networking reception at the Emerald lounge, getting to know their fellow researchers and unwinding after an intensely educational day. Afterwards, a number of people continued the networking and unwinding at group dinners at local restaurants.


    Friday was also packed with great educational sessions, and lunchtime featured a number of round table discussions on a variety of topics. NEDRA's Annual Business Meeting was also held on Friday, and changes to the bylaws and to the board were made (see the "Peek Under the Hood" post for more details). The Sponsor Raffle took place as well, with each of NEDRA's Gold Sponsors contributing a prize. In addition, NEDRA offered a copy of Dan Pallotta's book as a raffle prize.


    Thank you to everyone who joined us for this year's conference! If you haven't done so yet, don't forget to fill out your conference survey. For those of you who weren't able to attend, we hope to see you next year, or at an upcoming program!

  • What's YOUR takeaway?

    Fri, March 28, 2014 9:30 AM | Laura Parshall
    With all the opportunities for learning at the NEDRA Annual Conference, it seems likely that everyone who attended went back to their offices with some new technique, piece of information, perspective, or idea that they didn't have before. I'd love to get some comments going on the NEDRA News Blog for a change--remember, this is a place where all members are welcome to respond to what's posted and to share your thoughts and opinions. With that in mind, for those of you who attended this year's conference, what did you take away from it? What new thing did you learn? What are you already thinking about putting into use at work? Tell us all about it in the comments! I'll get the ball rolling here:

    I've been lucky enough to learn a lot about hedge funds lately, but until this conference, I didn't know about the high-water marks and hurdle rates that can affect how (and even if) a fund collects performance fees. Now that I'm aware of them, I'll be able to take them into account when looking at the compensation of hedge fund executives.

    Anyone else? Share in the comments!

  • Grenzebach Glier and Associates- 2014 NEDRA Sponsor

    Fri, March 28, 2014 9:28 AM | Laura Parshall
    Click on the image below for more exciting information!


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