There’s a torrent of customer and market data that’s continuously being generated for retailers and consumer packaged goods (CPG) companies. However, in many cases, line of business leaders (LOB) don’t often have access to the most current data regarding customer buying trends or market conditions.
With an unlimited amount of information about products and services accessible from as close as their smartphones, customers are more empowered than ever. To adapt and succeed in this increasingly competitive landscape, companies must rely on employees at the front lines of customer interactions to stay ahead of consumer demands.
As consumers have more channel choices than ever before, the role of the physical store has become more important than ever for providing customers with effortless experiences and earning their loyalty.
The flood of information about consumer behavior online can be a gold mine for marketing. Instead of launching mass media campaigns aimed at a broad demographic of people, it’s now possible to tailor an offer to a single consumer based upon his immediate needs.
Store leaders receive a tsunami of information and tasks they have to complete on a daily basis. Not only do they have to handle basic operations, they also have to cater to the needs of today’s omnichannel consumers – e.g., customers who want to purchase online and pick up in-store –… Read More →
As integral members of the C-suite, CIOs are expected to do more than simply act as technology stewards. CIOs are expected to help drive the business forward. This includes leveraging technology and thinking creatively to identify ways to generate new revenue streams and optimize operational efficiency business performance.
One of the key challenges faced by IT is satisfying the large volume of requests for IT and business projects, including BI (business intelligence) and report requests that can be difficult to fulfill when data is siloed across the organization.
Customer surveys and focus groups can help organizational leaders better understand their customers’ needs and preferences. However, the responses offered by customers in these forums can often be biased as a result of how the survey questions are couched or how the respondents believe the questions should be answered.
Retailers are constantly looking for the right opportunities to combine, cross-sell or upsell products or services to consumers so as to maximize revenue lift. However, the probability for success rises dramatically when retail leaders are able to target those combinations of products that consumers are most likely to purchase based… Read More →
While price is a key consideration for many consumers in selecting their wireless carriers, many high-value and discriminating customers also prefer to be on the leading edge of smartphone innovations. Smartphone manufacturers, wireless carriers, and other industry participants can use analytics and customer data – including point-of-sale, social sentiment, survey,… Read More →