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Trends and Outliers

TIBCO Spotfire's Business Intelligence Blog

Category Archives: Retail

12/10
2012

Data Discovery: Understanding the Mobile Holiday Shopper

Mobile shopping is hitting its stride this holiday season.

In fact, both PayPal and eBay have realized triple digit gains in mobile payment volumes so far, according to an article in Mobile Commerce Press.

11 6 Mobile Retail Experience image1 Data Discovery: Understanding the Mobile Holiday ShopperStill, for retailers and other companies to attract and convert mobile shoppers, they need to use data analysis and data discovery tools and techniques to understand what customers are looking for as well as the devices they’re using (to better optimize the experiences for the specific types of devices).

They also need to use data analysis and data discovery to understand how customers are using their mobile devices for holiday shopping, and product/price comparisons.

One of the biggest gripes that mobile consumers have is that mobile web sites are difficult to navigate. People often complain that mobile sites are too cluttered and that they take too long to load.

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12/06
2012

Using Data Analysis to Increase Customer Loyalty Over the Holidays

As retailers forge ahead with their holiday marketing and sales strategies, it’s critical to remember the importance of customer loyalty and its impact on business performance.

holiday ecommerce shopping 300x300 Using Data Analysis to Increase Customer Loyalty Over the HolidaysResearch has repeatedly found that customer experience has a significant impact on customer loyalty. In fact, it takes five customers recommending a business to others for a company to land just one new customer, according to an article in the Financial Post.

However, it only takes two disgruntled customers speaking negatively about a business for that company to lose one customer.

Additionally, customers rarely patronize a company because it delivers over-the-top experiences, according to the provocative article, titled “Stop Trying to Delight Your Customers,” published in the Harvard Business Review.

However, customers frequently cut ties with companies because of lousy experiences.

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12/04
2012

Big Data Analytics: High Stakes for Retailers

Retailers could have perhaps the most to gain from successfully corralling the massive amounts of data customers are sharing about themselves via transactions as well as by sharing their opinions about products via social media and other online forums.

future of retail Big Data Analytics: High Stakes for RetailersBut ironically – though the retail industry is under tremendous pressure to stay competitive – the industry as a whole lags behind other industries in its use of data analysis and big data analytics.

A report from Ventana Research suggests that only 34% of retail companies are satisfied with the processes they use to create analytics. Perhaps fueling that angst is the fact that 71% of retailers are still using spreadsheets as their primary data analysis tools, the research notes.

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12/03
2012

Using Data Discovery to Increase Holiday Sales

Up to half of a retailer’s annual profits and 20%-to-40% of a retailer’s annual revenues can be generated between the months of November and December, according to the National Retail Federation.

Sales Trends Using Data Discovery to Increase Holiday SalesMeanwhile, other service-related businesses such as restaurants, travel agencies, and caterers are also highly dependent upon sales that are generated during the holiday shopping period. The NRF also finds that 40% of shoppers start their holiday shopping before Halloween.

Add it up, and it’s critical for retailers to plan their holiday sales strategies early, especially if they don’t want to find themselves scrambling for customers at the end of the cycle by offering massive discounts that cut heavily into profits.

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11/26
2012

Using Data Analysis to Gain a 360-Degree View of Holiday Shoppers

It’s difficult to predict with any degree of certainty how consumers will behave over the holiday shopping period or at any time, for that matter. Consumers have different needs and preferences – needs and preferences that constantly change over time or as a result of shifting circumstances (employment status, recent out-of-pocket medical expenses, etc.).

360 150x150 Using Data Analysis to Gain a 360 Degree View of Holiday ShoppersAs Anthony Ginn points out in a blog post for SteelHouse, lumping people into one category based on their incomes or one particular attribute doesn’t make sense.

However, marketers can draw similarities between different sets of consumers when they use data analysisdata discovery and predictive analytics tools to develop a multi-dimensional view of customers based on a range of traits.

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01/16
2012

Applying Big Data to 2011 Holiday Shopping Information

big data and 2011 holiday shopping 300x300 Applying Big Data to 2011 Holiday Shopping InformationBy most measures, 2011 holiday sales saw solid gains. Overall retail sales rose 4.1%, according to the National Retail Federation. And while 2011 holiday sales didn’t achieve the 5.2% gains made during the 2010 holiday season, they still outpaced the 2.6% growth over the past decade.

But a closer examination shows that not all categories fared well. For example, sales of “mature” consumer electronics devices dipped 5.9% during the Nov. 20 to Dec. 24 sales period, according to The NPD Group. Yet not all consumer electronics suffered. For example, 3DTV sales grew more than 100%, according to The NPD Group.

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12/01
2009

Is Your Company Smart Enough? Business Intelligence From Customers Who Don’t Buy Anything

j0402015 150x150 Is Your Company Smart Enough? Business Intelligence From Customers Who Don’t Buy Anything Business Intelligence in the 21st century enterprise has as much to do with what your company “knows” as what it makes, sells or buys.   Companies like Priceline, Amazon and SmartBargains are just a few giants that have compiled huge databases of consumer preferences, pricing, packages of multiple purchases.  That data has tremendous value – even if they never sold another item.  And thanks to analytics from the streams of customer Web traffic, they can learn as much from tire-kickers who never purchase as from their most frequent buyers.

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10/06
2009

A Conversation With IDC’s Brian McDonough

b mcdonough m A Conversation With IDCs Brian McDonough IDC is a global provider of market intelligence to IT professionals and business executives.  We recently had a conversation with IDC’s Brian McDonough, a Research Manager in IDC’s Analytics and Data Warehousing Software research service.  In this role, Brian is responsible for providing coverage of supply-side trends within the business analytics market as well as user demand for technologies related to the implementation of business analytics.

Q: As we come up to Q4, 2009, in a still tough economy, how has the Business Intelligence market growth fared for the year?

BM: The business analytics software market, comprised of performance management and analytic applications plus business intelligence and data warehouse tools, is expected to finish the year with low single digit growth. It fared better than most markets as IT project scopes shrank and organizations sought out smaller, targeted initiatives for process optimization, improved financial management and analysis and improved insight into their customer bases.

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