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Trends and Outliers

TIBCO Spotfire's Business Intelligence Blog

Category Archives: Retail

04/07
2014

Predictive Analytics: Reading Your Customers’ Minds

Forward-thinking companies like Amazon aren’t just responding to the needs of their customers – they’re anticipating what customers want and providing offers and products based on customer sentiment, transactional trends, and lifecycle status.

shutterstock 100364444 290x300 Predictive Analytics: Reading Your Customers Minds Customers share truckloads of information about themselves – including behavioral, attitudinal, and transactional. Some of this information is shared intentionally through social media sentiment, as well as through survey responses and the like.

But some of the data such as channel behaviors is gleaned without customers’ knowledge. And that makes many consumers uncomfortable about the amount of information that companies have about them and are using to tailor offers and messaging.

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03/28
2014

Data Analytics to Uncover Your Customers’ Cheating Hearts

What do your customers really think about your company, your offerings and your competitors? Are they looking to cheat on you if they receive a great deal on a similar product from another company?

shutterstock 66022606 150x150 Data Analytics to Uncover Your Customers Cheating HeartsIf you want to really know how loyal your customers are you can find out by using big data analytics.

The Information on Social Sites

What information do sites like Facebook have? You’d be surprised. They have knowledge about what purchases your customer base is looking to make in the future and how they make buying decisions. They also know what your market thinks about your competitors.

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03/27
2014

Solving Problems with Data Visualization

It’s an age-old problem in business. A mishap occurs, like a flawed batch of products that are produced due to an as-yet-unknown manufacturing glitch.

shutterstock 4457203 300x225 Solving Problems with Data VisualizationDowntime to analyze and fix the malfunction could take hours or days, depending on the severity of the problem and whether defective manufacturing parts have to be ordered, shipped, and installed.

Collecting the Data & Describing the Problem

Depending on the nature of the business and the items being produced, even a temporary halt in production could cost a manufacturer thousands, perhaps even millions, of dollars. Where do decision makers turn? Data visualization tools are great first steps.

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03/13
2014

Big Data for E-Commerce Retail Growth

E-commerce retailers are using 2014 as a banner year to apply big data benefits to online conversion and sales strategies – and they’re just getting started.

shutterstock 153968597 300x178 Big Data for E Commerce Retail GrowthIncreasingly, companies that leverage data that’s already in existence can take advantage of real-time insights to drive conversions and sales in new and enticing ways.

To help your business achieve more with big data, consider the following two strategies for providing a more efficient, customized user experience in online retail:

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02/19
2014

Big Data: The Key to Successful E-Commerce Strategies

Are online retailers using big data to grow their e-commerce efforts? Definitely. With metrics and data made openly available to analysis, big data has found a home among firms looking to increase conversions in the online retail sector.

shutterstock 132733193 300x198 Big Data: The Key to Successful E Commerce StrategiesHow Are Online Retailers Using Big Data for Business?

E-commerce aficionados are applauding the use of big data in e-commerce scenarios because it provides access to new approaches to online sales.

New forms of personalization, custom pricing, and customer service are attainable because online retailers are gathering and analyzing data at volumes and velocities previously unknown.

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02/11
2014

Big Data Analytics: The Key To Understanding the Cross-Channel Customer

Customers use a variety of channels to interact with companies today, including voice, web, chat, mobile, social, desktop video, etc. Not only do customers use different channels to satisfy specific needs, they also move from one channel to the next to do so.

omni channel 1 300x279 Big Data Analytics: The Key To Understanding the Cross Channel Customer For instance, a customer may research a product online and then enter into a click-to-chat discussion with an agent to get answers to his questions.

When the customer does this, he expects to move fluidly from one channel to the next. But he also expects the contact center agent to know the nature of the issue he was trying to resolve online.

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01/14
2014

Using Predictive Analytics To Become a Real-Time Social Retailer

Consumers rely heavily on their social media connections to drive their purchasing decisions, from the brand and product reviews they glean from complete strangers to feedback that’s shared by their friends and families.

shutterstock 110754098 300x225 Using Predictive Analytics To Become a Real Time Social Retailer Indeed, 72% of consumers trust online reviews as much as personal recommendations, according to Search Engine Land.

Meanwhile, the messaging that companies generate in social media channels about their products also carries a high degree of influence.

Some 78% of consumers say that posts made by companies in social channels influence their buying decisions, according to a study conducted by the CMO Council and Lithium.

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12/23
2013

Data Analysis to Unlock Customer Intelligence

While sales departments have traditionally had an insatiable knowledge for data about customers, this hunger for customer intelligence is poised to expand throughout companies.

shutterstock 109457648 300x225 Data Analysis to Unlock Customer IntelligenceThat’s according to a new survey from CRM Magazine that asked customer experience professionals to predict how the demand for customer intelligence is likely to change in the future.

A majority – 96% – expect it to increase, while 4% expect it to say the same, according to an article in the November issue of the magazine.

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12/09
2013

Data Analysis of the Holiday Shopping Habits of Millennials

Typically, younger shoppers buy more than older shoppers – no news flash there.

shutterstock 161371349 300x218 Data Analysis of the Holiday Shopping Habits of MillennialsBut this holiday season, there’s a bit of a twist when it comes to the shopping habits of Gen Y, aka millennials. They’re doing more browsing online, hoping to be hit with lightning bolts of inspiration that will lead them to the perfect holiday gifts for friends and family.

That’s according to the data analysis of the shopping habits of millennials done by Horizon Media.

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12/02
2013

The Data Analysis of Holiday Shopping Surveys

For retailers that want to know who bought what when this holiday season, in part, to get a jump on planning next year’s marketing campaigns, cutting through all the available information that’s out there can be daunting.

shutterstock 113119618 300x220 The Data Analysis of Holiday Shopping SurveysThere are any number of forecasts, estimates and surveys, not to mention anecdotal evidence, to help retailers make sense of all that data – but some are better than others, according to a recent Reuters article.

For one thing, experts say those doing the data analysis should – although not all do – measure or forecast sales over the three-month period from November to the end of January, not just the weeks from Thanksgiving until Christmas.

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