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Trends and Outliers

TIBCO Spotfire's Business Intelligence Blog

Category Archives: Retail

11/25
2013

Big Data Presents: The 12 Truths of Holiday Shopping

When it comes to what consumers want for the holidays, big data and social analytics can help retailers uncover “human truths to help brands make their marks in the world.”

shutterstock 155641259 300x200 Big Data Presents: The 12 Truths of Holiday Shopping That’s according to McCann Truth Central’s newest global consumer research study, “The Truth About Holiday Shopping,” which reveals a new era of predictive gift giving.

To help retailers learn more about what customers want, researchers conducted interviews with over 10,200 people in the US, UK, China, Brazil, Mexico, Chile, UAE, France, South Africa, Spain and India.

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11/19
2013

Mapping the Customer Journey with Data Analysis

For brands, the customer journey is increasingly complex as customers interact in stores, online, with call center agents and in a myriad other ways.

shutterstock 61669849 300x199 Mapping the Customer Journey with Data AnalysisWhile the data generated by this growing number of actions may seem overwhelming, firms need to corral it to keep customers and grow the business, according to a Harvard Business Review post from a trio of authors from McKinsey & Co.

In stark contrast to the days when interactions with customers were entirely in person, today more than half of all customers move through three or more channels to complete a single task, the post notes.

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11/18
2013

5 Ways Retailers Can Use Data Analysis for a Super Cyber Monday

For many retailers Cyber Monday has become the holy grail of online holiday shopping.

shutterstock 162909746 150x150 5 Ways Retailers Can Use Data Analysis for a Super Cyber MondayIn fact, since its inception in 2005, Cyber Monday, the Monday after Thanksgiving, has been the strongest online purchasing day of the year.

And, believe it or not, Cyber Monday 2012, which was four weeks until Christmas Eve, was the busiest online shopping day in history, according to the Adobe Digital Index.

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11/12
2013

Data Analysis to Uncover the Black Friday Shopper

The sad truth is that Turkey Thursday may one day put Black Friday out of business. But still, understanding Black Friday shoppers and what drives them to venture out even before the roosters crow can help retailers offer the deals that will fill their stores and their coffers.

shutterstock 118648831 300x250 Data Analysis to Uncover the Black Friday ShopperWhen they hit the malls or the big box stores on Black Friday – or even Thanksgiving Day – these shoppers are looking for the best deals on the best products for the season.

On this day, however, it’s not about being loyal to any brand. If I want a 60-inch, hi-def, flat screen TV, I’m not necessarily looking for my favorite brand.

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08/05
2013

Smile: Data Analytics Software May Be Watching

Thanks to the emergence of WiFi tracking systems, video surveillance, and other technologies, retailers are able to follow customers who are using mobile devices in their stores to track their behaviors.

face2 Smile: Data Analytics Software May Be WatchingRetailers can then use analytics software to help make sense of customer behavior (e.g., how long shoppers dwell in a particular product aisle prior to making a purchase) and take advantage of this information to help shape product placement, the development of customer offers, etc.

Many customers have become accustomed to having online retailers track their activities using cookies and other tools that provide e-tailers information about who customers are and how they’re shopping.

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06/20
2013

Analytics to Measure Targeted Ad Campaigns

Advertising clients now expect advertising campaigns to be measurable and much more data driven than they have been in the past, according to Dimitri Maex, managing director at OgilvyOne Worldwide in New York.

marketing campaigns Analytics to Measure Targeted Ad CampaignsAnd there’s certainly a lot more data available to ad campaigns regarding consumer behavior that can be used by marketing and other executives to help guide decision making, Maex tells Data Informed.

Despite all the buzz indicating that customers are wary of how much companies know about them, they’re not really opposed to behavioral targeting.

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06/10
2013

Predictive Analytics: Predicting the Unpredictable Consumer

It’s become a ubiquitous sight for retailers: the customer hunched over a smartphone in a store browsing competitors’ prices and scouring consumer reviews before making a buying decision.

yesno 300x145 Predictive Analytics: Predicting the Unpredictable Consumer

So, how can retailers break through to this consumer who’s so distracted by a deluge of information?

Companies need to start with understanding their target customers, according to a recent blog post from Harvard Business Review.

And that means using predictive analytics.

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06/05
2013

Data Analysis: A Battlefield for Retailers and CPG Firms

Starbucks is a perfect example of what retailers and consumer packaged goods (CPG) companies are grappling with when it comes to analyzing the data deluging their networks from inside and outside the corporate walls.

databattlefield Data Analysis: A Battlefield for Retailers and CPG FirmsAs much as a quarter of the data the coffee brewer is dealing with comes from its loyalty cards, but the firm doesn’t quite know how to use the data yet, says Joe LaCugna, director of analytics and business intelligence at Starbucks.

In addition, while the company has a team that analyzes social media, it hasn’t yet figured out exactly what to do with that information, either, he notes.

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05/06
2013

3 Ways Analytics Boost Traditional Retailers’ CRM Strategies

To reach customers where they live, so to speak, traditional retailers should take a peek at what their pure-play e-commerce brethren are doing – incorporating analytics into their CRM (customer relationship management) strategies to ensure profitable relationships with their customers.

sales 3 Ways Analytics Boost Traditional Retailers’ CRM StrategiesFor brick-and-mortar retailers, big data analytics solutions are not just “nice-to-have” – they’re absolutely critical to the success of their CRM operations, according to an article in Direct Marketing News.

“CRM at tier-one retailers has not been about managing the customer relationship, it has been about offers,” says Bob Hetu, research director for retail at Gartner Inc. “They have to get beyond their prejudices, one channel over another. What paths to purchase customers take doesn’t matter. You have [to] support them in whatever way they choose to shop with you.”

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04/29
2013

CPG Firms: Finding the New Analytics Normal

Consumer packaged goods companies and grocers are focused on growth more than ever, but they must move beyond traditional localized use of big data and analytics to gain the insight required to drive top- and bottom-line growth.

shopping11 CPG Firms: Finding the New Analytics NormalThat’s according to a new report by the Grocery Manufacturers Association and Deloitte Consulting.

“The research will assist CPG companies in understanding the broad set of capabilities and competencies required to improve their analytical IQ, with big data making that need even more urgent,” says Marcus Shingles, principal, Deloitte Consulting LLP.

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