2 CHAPTER 3 Find Big Growth in Big Data Comparing the capacity of computers to the capacity of the human brain, I ve often wondered, where does our success come from? The answer is synthesis, the ability to combine creativity and calculation, art and science.... Garry Kasparov I f you are still wondering exactly what big data is and whether it s right for your sales organization, you have some catching up to do. Big data refers to the use of large data sets and powerful analysis software to uncover hidden patterns or to get real-time information. Big data techniques are used for everything from reading spy satellite photos to tracking the whereabouts of cell phone customers; from mining insights from unstructured data, such as comments about particular products and brands on the Internet, to assessing regional weather patterns to predict beer consumption. With the falling cost of data storage and computing power, big data is being applied in new ways every day. What does big data mean for sales management? It is a way to move beyond the traditional customer relationship management (CRM) tools and can help with micro-segmentation, sentiment analysis, customizing cross-selling, and with the rise of smartphones and other mobile data devices location-based selling (for example, pushing real-time offers based on the consumer s whereabouts). The example of a European retail bank helps explain how big data can boost sales effectiveness. It began with the appointment 31
3 32 Find Growth before Your Competitors Do of a new head of sales, who was recruited from a bank that had already discovered how to use fine-grained data and rigorous analysis to build competitive advantage. In her new role, she saw that financial advisors in the bank s branches did not have the right information at their fingertips to sell new products and services effectively to customers. Most branches preferred local data to identify leads, Leaders in big data have so much insight and such powerful tools at hand, there is no reason to rely on intuition alone placing little value in reports from the head office. Worse, nobody in sales had access to the broader transaction, socioeconomic, or behavioral data that would improve success rates. The bank had only basic propensity models for up selling and crossselling campaigns. Having led the investment in big data in her previous job, she wasted no time lobbying for a major commitment to the new technology. In two years, the number of qualified referrals and leads fed to branches doubled; account balances rose almost 50 percent, and customer satisfaction scores were up. In total, the bank saw a 5 percent lift in revenue beyond growth rates in its market. To get to those results, the head of sales doubled down on big data. She asked her team to develop a database that provided a complete picture of the customer, using both bank data, such as transaction history, and external information, such as credit scoring. Using advanced modeling, some competing analytical models, and even experimentation, the bank created a clear set of guidelines and leads for the front line. The analysis provided insights such as that customers are more likely to buy a specific product if they have just received a bonus or are more likely to buy product B after buying product A. The bank also modified frontline tools, so that, for example, a financial advisor now sees a specific offer on his screen for the customer s itting across the desk. The front line also received new scripts that were refined through big data analysis. Rather than using brainstorming or guesswork, the bank conducted extensive testing of different scripts and analyzed the results to determine the most effective ones. As we will see below, the leaders in the use of big data leave little to chance with so much data and such powerful tools at hand, there is no reason to rely on intuition alone.
4 Find Big Growth in Big Data 33 This data-driven transformation helped turn the bank into a much nimbler business. The head of sales made enormous investments in collecting, integrating, and analyzing data, and committed to costly real-world experiments. She hired a chief data scientist from an online marketing company to lead data and analytics and created a small team that became a company-wide resource. Then the head of sales and the senior data leader worked with the CIO to make targeted technology investments that allowed the bank to handle data from multiple sources and in various forms, both structured (for example, transactional data) and unstructured (for example, text from news stories or blog posts). What Do We Mean by Big Data? When we talk about big data, we are not talking about regular data sets that companies have in their CRM databases. Those databases are already large (the average U.S. company with more than 1,000 employees stores more data than is contained in the U.S. Library of Congress); 1 we are talking about data sets that combine data from the company, its channel partners and suppliers, its customers (for example click stream patterns, searches, social network conversations, location data), and even from external data suppliers (for example, weather forecasts, demographic data). The size and complexity of these data sets is beyond the ability of typical database software tools to capture, store, manage, and analyze. There is no standard definition big data could range from a few dozen terabytes to multiple petabytes (thousands of terabytes). To give a sense of scale, it would take all the paper made from 50,000 trees to print a terabyte of text. Nor is big data all about size; other characteristics include that it is collected from multiple sources, in multiple forms (numbers, text in defined fields, but also free-form text, images, videos, etc.), and that it is increasingly real-time. 1 Big Data: The Next Frontier for Innovation, Competition, and Productivity, McKinsey Global Institute (May 2011).
5 34 Find Growth before Your Competitors Do By constantly testing, bundling, synthesizing, and making information instantly available across the organization from branches to the head of sales the bank managed to outsell competitors. Just as importantly, the head of sales established a new culture. The sales team started to think more analytically; they understood that if they had a hunch about what would work, they could test it first and make sure. Our interviews with leading sales executives show that businesses have a major opportunity to turn data into revenue. They also reveal that companies need to overcome considerable hurdles if they are to capture big data s Mastering data is mission full potential. The first of these is the critical. scarcity of the necessary analytical and managerial talent. Although big data is a new topic in sales, many leading-edge companies already use big data as an engine of growth. Powerful data strengthens their ability to outperform their peers; simply put, mastering data is mission critical. In looking for growth from big data, three ideas are particularly important: 1. Harvest every source of big data. Create opportunities for customers to provide more data, partner with external providers, and generate insights through advanced analytics and experimentation. 2. Get personal in selling. Use sophisticated micro-segmentation and personalization analytics to create tailored selling propositions and approaches that precisely meet buyers needs. 3. Put big data at the heart of sales. Make data availability, scientific investigation of growth opportunities, and decisions based on big data cornerstones of both sales strategy and sales culture to develop a competitive advantage. Harvest Every Source of Big Data There is valuable insight and competitive advantage to be gleaned from the most surprising sources. Google found it in the color of type. A marketing executive at Google noticed that the paid links that showed up in search results were a different shade of blue on Google search than on Google s software Gmail. The
6 Find Big Growth in Big Data 35 marketing director decided to test which shade of blue would maximize users click-through rate on the ads. His team tested 40 different shades, covering the entire spectrum of blue, on 1 percent of Google s web pages and compared them to a control group. It found that users preferred a blue shade that had less green and more purple in it. The change was made across the board and Google netted an additional $200 million in revenues. 2 Several leading-edge sales executives told us that they are investing in ways to harvest insights from social media using big data analysis techniques. By listening to the chatter about their products, their competitors, and the concerns of consumers, these companies say they get much higher quality input than from surveys alone because survey questions do not always elicit full responses or anticipate sudden changes in sentiment. This sentiment analysis of millions of social media messages helps inform a variety of business decisions. For example, retailers can use sentiment analysis to gauge the response to sales campaigns in real time and then adjust course accordingly. Understanding the sentiments expressed in social media is critical because consumers rely increasingly on peer recommendations to make purchasing decisions. A variety of tools and service providers has emerged to monitor and respond to online consumer behavior and choices in real time. These companies help sales and marketing organizations make sense of the social media data deluge by filtering customer (and perhaps even more importantly noncustomer) desires and behaviors to identify valid sales opportunities. When a health and beauty products company asked parents what their biggest concerns were around diapers, more than twothirds said they wanted environmentally friendly products. This sounded reasonable except that the head of sales was hearing something different from her retail clients and some consumers. With this big data mindset that sees the value in multiple sources of information, she insisted the marketing team take a closer look at what consumers were actually saying online when they were not prompted by a questionnaire. The conversations on various social media platforms revealed that the terms that most often cropped up in conversations about the company s diapers were 2 McKinsey CMSO Forum conference (September 2011).
7 36 Find Growth before Your Competitors Do actually organic and diaper rash. The company reacted quickly to address concerns about diaper rash. It also highlighted the healthy, natural aspects of the product across all its communications, and trained its sales force to use these social media insights to gain more shelf space with retailers. The ability to capture and use customer data also makes customization more practical, even for mass merchandisers. Nike, for example, set up NikeID.com, which lets customers design their own footwear, clothing, and equipment, choosing the material, color, style, and size. Customers could even add their own icon or other custom branding. This lets Nike engage its customers directly and offer personalized, and often higher-margin, products. Anybody who has visited the NikeID site or seen consumers ordering custom products at one of its flagship stores knows how addictive and successful this service is; revenue from NikeID surpassed $120 million in Nike also uses customer data to sift through the billions of possible permutations and choices to analyze its customer base and provide the basis for its next product designs. The company has found a way to marry great customer experience with gathering data about customer tastes and preferences. Another source of big data in retail businesses is in-store behavior data. Recent innovations have enabled retailers to track customers shopping patterns (for example, footpath and time spent in different parts of a store), drawing real-time location data from smartphone applications such as Shopkick. They also gather data from shopping cart transponders and monitor mobile phone locations within stores. Some retailers use Nike has found a way sophisticated image analysis software to marry great customer connected to their video surveillance experience with gathering data about customer and consumer behavior. They use this cameras to track in-store traffic patterns tastes and preferences. data to improve store layout, design promotions, and adjust the product mix. McDonald s can now track customer interactions, in-store traffic, flow through its drive-through lanes, and ordering patterns, using point-of-sale data, video, and sensors. Based on this data, researchers model the impact of variations in menus, res- 3 Nike investor meeting report (June 28, 2011).
8 Find Big Growth in Big Data 37 taurant design, and training, among other things, on productivity and sales. Some of the most important insights can be derived only when proprietary data are combined with external data. These external sources could include data brokers (organizations that collect and resell data from various sources), business partners, such as resellers or third-party dealers, or customers themselves beyond their interactions with the company itself such as visited websites, social media posts, or location data. Often, gaining access to data from partners and other outside sources requires new kinds of relationships; no one wants to give up something of value for nothing. Procter & Gamble CEO Robert McDonald has said his goal is to make P&G the world s most technologically enabled company. In forging relationships with partners and other organizations, he notes, data becomes part of the currency for the relationship. When we do joint business planning, getting data becomes a big part of the value for us, and it s a big part of how we work together. We have analytic capabilities that many retailers don t have, so often we can use the data to help them decide how to merchandise or market their business in a positive way. 4 In other words, a supplier s big data capabilities will become part of its competitive advantage when building relationships with selling partners. Of course it is not enough simply to gather the data. Sales leaders need creative alchemists to spin the data into sales gold. Many of them use algorithms and analytics often from the fields of statistics and machine learning 5 to hunt for insights and make sense of big data. Leading sales organizations also conduct controlled experiments to separate correlation from causality. For example, sales teams test hypotheses about what really drives conversion from consideration to purchase, and analyze the results. A supplier s big data capabilities will become part of its competitive advantage when building relationships with selling partners. 4 Inside P&G s Digital Revolution, McKinsey Quarterly (November 2011). 5 Machine learning, a branch of artificial intelligence, is a scientific discipline concerned with the design and development of algorithms based on empirical data.
9 38 Find Growth before Your Competitors Do Get Personal in Selling Big data allows organizations to segment customers at a much more granular level than was previously possible. Consumer goods and service companies that have used segmentation successfully for many years are now taking the concept to a new level: they are using real-time micro-segmentation to target advertising, promotions, and selling propositions to minute segments. In effect, using huge volumes of data and ever more sophisticated analytical tools, these leading sales organizations are moving from segmentation to personalization. Retailers loyalty programs are a natural arena for personalization analytics. In addition to using traditional market research and purchase data, leading retailers track data on the behavior of individual customers such as clickstream data from the web. Retailers can now update this granular data almost in real time to adjust their offering to recognized customers. U.S. retailer Neiman Marcus, for example, uses algorithms to predict customer trends, based on factors such as shopping frequency and departments visited. This is combined with a multitier membership reward program, and it has helped encourage substantially more purchases of higher-margin products from its most affluent, higher-margin customers. Personalization is not limited to retail. An agricultural equipment manufacturer realized that its sales teams had relatively little insight into end users needs, other than what they gleaned from focus groups, which often included friendly customers. The company s channel partners shared data about orders but nothing else, even though the internal sales team knew they had access to large amounts of customer data that, if collected and synthesized, could be tremendously valuable to both the company and the partners. In conjunction with its distributors, the sales team therefore set out to collect data such as the ordering patterns of individuals and groups of customers, and then developed scenarios and hypotheses as to when customers in a geographic region would purchase new equipment to keep up with other local farmers. These more individualized insights led the company to pilot a more audacious initiative involving remote sensing data to determine more precisely individual farmers activities. This provided the insights for tailored sales programs for individual farmers based on the types of crops under cultivation, for example.
10 Find Big Growth in Big Data 39 Big data applications can go beyond finding leads and tailoring offers, and help bring the transaction to completion by bundling preferred products, offering special promotions, or sometimes combining offers with reward program discounts. Some advanced retailers combine customer touch point data (for example, information such as websites visited before coming to the retailer s site, time spent on site before buying, last page visited before leaving without purchase) with transaction records. They correlate that information with their reward program data to determine which products or options to recommend to their most valuable customers as they progress on their purchasing journeys. In doing so, they manage to increase sales of higher-margin products. An example of this is Amazon.com s customers who bought this item also bought... prompt, which has proved enormously successful: reports indicate that 20 to 30 percent of sales can be attributed to its recommendation engine. 6 Personalized offers are not one-off gimmicks; they are used continuously to enhance customers multichannel experiences, to drive sales, customer satisfaction, and loyalty (see Chapter 4). Retailers use big data to integrate tailored promotions and pricing for shoppers, whichever channel those customers are using. U.S. home goods retailer Williams-Sonoma, for example, integrates its customer databases with external data on some 60 million households, tracking income, housing values, number of children, and so on. Targeted s based on this information obtain 10 to 18 times the response rate of generic promotions, and the company is able to create different versions of its catalogs attuned to the behavior and preferences of different groups of customers. Financial institutions have historically generated huge amounts of transaction data within individual lines of business. Today s computing power means they can now combine data from different lines of business to create a single view of a customer. This has a huge benefit for those customers as it means they can have an integrated experience across all the various touch points with the bank, including branches, ATMs, web, and mobile. This might mean that an ATM can offer a loan to a customer at a tailored rate 6 Stanford University class on Data Mining and Electronic Business,
11 40 Find Growth before Your Competitors Do based on access to all that customer s financial records with the bank, not just the current account balance. Put Big Data at the Heart of Sales Using big data to target customers, tailor promotions, and customize offers is very important, but the most exciting opportunities in big data arise when companies make data analytics a cornerstone of their sales strategies. This is when they develop the insights that lead to truly novel ways of selling, allowing them to outsell competitors. A leading retailer we talked to, for example, analyzed data from multiple sources (including point-of-sale data, external research, price perception data, and competitive assortment data) to decide which products to carry, where to place them in the store, and how and when to adjust prices. These changes helped it reduce its assortment by 17 percent, while increasing the mix of higher-margin private label goods and overall revenue. The most exciting opportunities in big data arise when companies make data analytics a cornerstone of sales strategy. Another company that has placed large bets on big data is Mint.com. The Intuit personal finance subsidiary lets its 5 million customers see a consolidated view of their finances across all their products, irrespective of which institution manages the account or product. The service is free, so Mint makes its money selling sales leads to financial services companies. For example, if a consumer has a large amount of cash in various accounts that earn no interest, the Mint analytical software would flag that and recommend consolidating that cash into a single account that earns competitive interest rates a lead for which a bank is happy to compensate Mint. Or if a consumer s spending and savings patterns indicate significant unprotected assets, Mint could recommend an insurance policy, and an insurer would pay for the lead. Sensor data information gathered by products when they are in use is also providing new selling opportunities. From photocopiers to jet engines, all manner of products generate reams of data that allow manufacturers to monitor their use and manage maintenance or update software remotely. The same companies
12 Find Big Growth in Big Data 41 may also have engaged in some crude customer segmentation, perhaps based on industry or penetration of the product. These data sets have sat in different databases and have not been linked. But some sales leaders have found a way to get their hands on this data and make money out of it. One of the major challenges and payoffs of big data analysis is combining data from many sources to provide new insights. An enterprise computer hardware vendor combines data from its contracts database with data about the customer s installed base, service history, and other outside data such as the customer s projected growth. A team of statisticians run intricate algorithms based on this data that predict what the customer is likely to do in various sales scenarios. The goal is to determine the best approach to up-selling or cross-selling for each account, based on 20 factors, such as expiry date of service contracts, recent software purchases, channel preferences, service calls requested, and so on. The analysts can also predict how the win rate is affected by variables such as discount rate and size of sales team, to help sales management allocate its resources and fine-tune pricing. These insights are embedded in the sales force management tools, and the statistics are hidden from the sales teams, which only see two or three recommended approaches. The result: more than $100 million in incremental annual revenues. Companies that put big data at the core of their sales find that they can improve decision making and develop entirely new selling models. Sophisticated analytics allow them to decide not only what the best opportunities are, but also which ones will help minimize risk. This saves time and trouble by prioritizing those activities that are most likely to drive profitable sales growth. Decision making is not automated, but the judgment of leaders is augmented by large samples of data that can remove a great deal of uncertainty about available choices. Leading companies also seek to create new sales propositions, enhance existing ones, and sometimes invent new business models using big data. For example, the emergence of real-time location data has created an entirely new set of location-based services from navigation to pricing motor insurance based on where and how people drive. To place big data at the center of selling, companies will need to develop new capabilities to collect, integrate, analyze, and visualize data (see Chapter 10). This means hiring people
13 42 Find Growth before Your Competitors Do with advanced training in fields such as statistics and machine learning and they are in high demand and short supply. The McKinsey Global Institute estimates that by 2018, the United States alone might need 140,000 to 190,000 more people with these advanced skills in order to fulfill the big data needs of various organizations. Attracting such talent could bring a significant advantage. Companies such as Google, Amazon, and Capital One that have made big data central to their sales strategies have developed programs to identify, hire, and retain talent with big data knowledge as a corporate resource at the service of their sales and marketing teams. Analytics teams can start small, often with only a handful of people, but it is critical to hire a leader who has technical knowledge, both of IT and analytics, but also with management and business leadership skills. Unsurprisingly, By 2018, the United few individuals have this combination States alone might need of skills, and they are rarely developed 140,000 to 190,000 solely through training. Such leaders are usually found in organizations more people with these advanced skills in order that already use big data extensively. to fulfill companies big Companies need to target and recruit data needs. these individuals to bring in the kind of big data leadership they need. As a company builds its big data capabilities around a leader, these capabilities are often organized within a center of excellence at the corporate center, for both sales and other functions such as marketing, finance, product development, and service. As the value of big data becomes more widely understood, this can lead to the center of excellence being overburdened, so it is notable that the leading sales executives we interviewed make sure sales growth programs are at the very top of the analytics team s priority list. Investments are necessary in databases, tools, and analytics. But we have found that all of those investments and new capabilities are not sufficient unless the sales management team adopts a big data mindset and style. Procter & Gamble s Robert McDonald personally has a handle on the company s sentiment analysis (the aggregation of social media commentary). This allows for realtime reaction to what s going on in the marketplace, he explains. We know that if something happens in a blog and you don t
14 Find Big Growth in Big Data 43 Increase in volume, percent Multichannel experience 2.0 Cross-selling 1.5 Placement optimization 1.4 Location-based selling 1.0 Increase in operating profit 8 to 25% 1 Assortment optimization 1.0 In-store behavior analysis 0.8 FIGURE 3.1 Potential impact of big data in retail 1 Varies by retail format. react immediately or worse, you don t know about it it could spin out of control by the time you get involved. 7 Companies should not underestimate the technical, managerial, and talent-related challenges involved in finding big growth in big data. Big data may be a relatively new, even experimental, field in sales, but the potential upside more than justifies further investigation and investment. Analysis of the retail sector suggests that many of the concepts described above could each increase sales volumes by up to 2 percent for individual retailers. Taken together, they could boost operating margins by 8 to 25 percent for those pioneers that fully embrace big data (Figure 3.1). 8 Big data is big news, and some of its best exponents have been contemporary business stars such as Amazon and Google. The fascinating aspect of big data, however, is that virtually every business in every industry can find growth from it. Whether it s Nike getting customers to design shoes and thus collecting invaluable data on personal tastes or the agricultural company able to 7 Inside P&G s Digital Revolution, McKinsey Quarterly (November 2011). 8 McKinsey Global Institute.
15 44 Find Growth before Your Competitors Do monitor customers to the level of the individual farmer based on collecting remote sensor data, the opportunities are constrained only by your ability to derive insights from high-quality analysis. Shashi Upadhyay, from Lattice Engines, provides even more examples in the interview that follows. The best sales leaders already realize that big data is far more than an interesting add-on. They are putting it at the heart of their sales strategy, and they are going out to find the brightest and best analytical minds to bolster their teams. We hope what you ve read so far has whetted your appetite for growth. Having the determination to grow and grow big is one step, and knowing where that growth lies is a prerequisite. Getting your products and services to the customer is what matters, though, so in the next section we turn to sales leaders second proven strategy for success: selling the way the customer wants.
16 Find Big Growth in Big Data 45 Interview: Shashi Upadhyay Chairman and CEO, Lattice Engines We re still in the early days of the big data revolution, but what sort of new sales opportunities is it creating? Big data is an emerging field in sales management, but there is already big money to be made. High-powered analytics, sometimes even automated, allow sales managers to cull insights from across a massive array of data sources and then synthesize them to a few simple messages for frontline sellers. The volume of information out there is huge, and perhaps only 0.01 percent of it is useful. Scientific-grade analytics is the only way to get to the insights that are really going to drive sales. As a company providing big data solutions to Fortune 5000 companies, we have seen leading sales organizations reap some amazing rewards from applying a big data approach. A U.S. insurance company used big data analytics to improve customer retention. When a customer rang the call center, the agent used to just see the caller s history (for example, tenure as a customer, wait time, outstanding claims). With big data, the agent also knew the likelihood of retaining the customer if the issue was not resolved right away. The company had developed a real-time sentiment analysis system to assess the emotional state of the caller based on voice and inflection data. The system then made recommendations for how to respond for example, keeping to the facts of the case or mellowing the tone so the agent could manage the conversation better. These insights were critical because part of the call center was in the Philippines, where cultural differences made it difficult to manage emotional conversations with American customers. The system helped improve customer retention rates by 20 percent. (Continued)
17 46 Find Growth before Your Competitors Do One striking aspect of big data is how much it s increased the tempo of selling. What opportunities does this real-time environment create? Social media and mobile platforms have created real-time interactions, so data analysis needs to be real time as well. The insights cycle has become so much faster; data warehouses used to be refreshed quarterly, and data quality had to be perfect. Now, new insights have to be pushed to the sales force in a matter of hours, sometimes in real time. It s less important that every item of data is correct; and more important that reps get the insights they need quickly. One tech company I have worked with set up a real-time sales lead operation. It first identified a number of relevant keywords and question phrases that signaled potential sales opportunities (for example, questions related to specific products or applications). Then it implemented real-time analysis of social media data on Twitter, Quora, LinkedIn, and Facebook. Data analysts tracked purchase decision makers and influencers, asking questions that incorporated one of the select keywords, matching the buyer s question and location with the company s internal data to pinpoint specific hunting opportunities. That lead was then sent to the rep covering that particular company, with a simplified set of insights around the company s questions. Sales reps converted these solid leads almost 80 percent of the time a fantastic hit rate. Transforming data into selling opportunities is a race. Whoever acts first on good information gains a huge head start. How is big data changing traditional approaches to sales management? In essence, there is no need to rely on intuition and guesswork anymore. Even routine activities, such as when a sales rep should call a customer, can be scientifically determined. For example, data scientists in a call center track social media activity (for example, when people update their page, how much time they spend on a social media
18 Find Big Growth in Big Data 47 site) and use other data such as location and gender to figure out the best time for agents to make a sales call. The analytical and real-time nature of big data is changing traditional approaches to sales management in three areas. First, companies will need to speed up their performance management cycle from monthly to daily because the selling tempo is dramatically faster. This is particularly true for products such as PCs, books, and DVDs, where research and purchase largely happen online. Second, sales managers will have to become data hunters. Data creates new touch points and leads across both digital and traditional channels. Lastly, core elements of sales management such as sales operations and training have to gear up for big data. Sales is becoming an information science. How does a company start to capture all the opportunities offered by big data? Many of the great successes I have seen started when a creative sales rep began talking with a data analyst in IT, and they worked on putting together an algorithm to find growth opportunities. That innovative mindset needs to rise to the C-suite. Data as an asset is generally underutilized, and it takes a top-down effort for sales to capture the full benefits. The president of an office supplies company I know recognized that his business had a massive data advantage because it interacted with almost 30 percent of businesses in the United States. He also knew his company was not taking advantage of this key data asset. He asked his sales team to develop a three-year roadmap to become much more data-driven sellers. Most importantly, he put a star from the sales organization in charge, signaling the importance of this initiative. Within 12 months, the team had improved the operating margin for the pilot business unit by about 20 percent. It succeeded only because of this push from the top, and the president held the company to it.
BUY BIG DATA IN RETAIL Table of contents What is Big Data?... How Data Science creates value in Retail... Best practices for Retail. Case studies... 3 7 11 1. Social listening... 2. Cross-selling... 3.
IBM Software Big Data Retail Capitalizing on the power of big data for retail Adopt new approaches to keep customers engaged, maintain a competitive edge and maximize profitability 2 Capitalizing on the
IBM Software White Paper Consumer Products Delivering new insights and value to consumer products companies through big data 2 Delivering new insights and value to consumer products companies through big
Big Data Management and Predictive Analytics as-a-service for the Retail Industry Serendio Predictive Analytics for the Retail Industry 2 Executive Summary The biggest and most successful retailers today,
Growth Services Selling Power: Better Sales Leads and Conversion Rates in a 360-Degree World Better Sales Leads and Conversion Rates in a 360-Degree World THE LEADERSHIP CHALLENGE: A WEALTH OF DATA Today,
IBM Software Business Analytics Social Analytics Social Business Analytics Gaining business value from social media 2 Social Business Analytics Contents 2 Overview 3 Analytics as a competitive advantage
TURN YOUR WEBSITE INTO A PROFIT ENGINE Turning your website into a profit engine: where to start In a competitive market, generating more leads from your website traffic has become crucial to maximising
Why Modern B2B Marketers Need Predictive Marketing Sponsored by www.raabassociatesinc.com firstname.lastname@example.org www.mintigo.com email@example.com Introduction Marketers have used predictive modeling
A financial software company Projecting USD10 million revenue lift with the IBM Netezza data warehouse appliance Overview The need A financial software company sought to analyze customer engagements to
The Scientific Guide To: Email Marketing 30% OFF Who is this guide for? All Marketing and ecommerce Managers at B2C companies. Introduction Science gives us the power to test assumptions by creating experiments
WHITEPAPER Voice of the Customer: How to Move Beyond Listening to Action Merging Text Analytics with Data Mining and Predictive Analytics Successful companies today both listen and understand what customers
Customer-Centricity in a World of Data: Turning Big Data into a Big Opportunity Richard Maraschi Business Analytics Solutions Leader IBM Global Media & Entertainment Joe Wikert General Manager & Publisher
Mining Big Data to Find New Markets featuring Manish Goyal and Homayoun Hatami Sponsored by WEBINARS Mining Big Data to Find New Markets OVERVIEW Even though companies today have limited resources, they
IBM Software Business Analytics Customer Analytics Achieving customer loyalty with customer analytics 2 Achieving customer loyalty with customer analytics Contents 2 Overview 3 Using satisfaction to drive
HOW CLOSE ARE YOU TO YOUR CUSTOMERS? You know what kind of people your customers are. You likely even know their names, how often they shop with you and what they ve bought recently. But can you say which
Continuous Customer Dialogues STRATEGIES FOR GROWTH AND LOYALTY IN MULTI-CHANNEL CUSTOMER-ORIENTED ORGANIZATIONS whitepaper TABLE OF CONTENTS: PAGE Overview...3 The Continuous Customer Dialogue Vision...4
FINDING BIG PROFITS IN THE AGE OF BIG DATA UNLOCKING THE ENTERPRISE POTENTIAL OF BEHAVIORAL SEGMENTATION Alex Tavera Senior Loyalty Consulting Manager Behavioral Segmentation / 2 SEGMENTATION HAS EVOLVED
THE ROI OF SALES MESSAGING BEST PRACTICES OF AN AUDIBLE-READY SALESFORCE THE GAME CHANGER In the first decade of the 2000s, interactions between sellers and buyers were typically product-focused. During
Social Media s Impact on Today s Business Interactions Emily Buratowski Under the Direction of John F. Tanner Jr. Ph.D. Executive Director, Baylor Business Collaboratory Abstract The use of social media
Business Intelligence Solutions for Gaming and Hospitality Prepared by: Mario Perkins Qualex Consulting Services, Inc. Suzanne Fiero SAS Objective Summary 2 Objective Summary The rise in popularity and
FIS Active Analytics Suite Delivering Segmentation-driven Digital Marketing, Merchant Offers Price Optimization and Risk Management Performance Analysis The FIS Active Analytics Suite helps financial institutions
PRESENTS DATA DRIVEN BRAND MARKETING PART ONE YOUR DEFINITIVE GUIDE TO BUILDING LIFETIME VALUE WITH SEGMENTATION WHAT YOU D KNOW IF WE COULD TALK TO YOU Proving the Value of Marketing 1 2 3 4 5 6 SEE YOUR
IBM Software Thought Leadership White Paper IBM ExperienceOne 5 tips to engage your customers with event-based marketing Take advantage of moments that matter with in-depth insight into customer behavior
Danny Wang, Ph.D. Vice President of Business Strategy and Risk Management Republic Bank Agenda» Overview» What is Big Data?» Accelerates advances in computer & technologies» Revolutionizes data measurement»
5 Big Data Use Cases to Understand Your Customer Journey CUSTOMER ANALYTICS EBOOK CUSTOMER JOURNEY Technology is radically transforming the customer journey. Today s customers are more empowered and connected
\ guide When social media media users users express express a need a need for your for your product product or service, or engaging service, engaging can yield the can biggest yield the marketing biggest
Predicting & Preventing Banking Customer Churn by Unlocking Big Data Making Sense of Big Data http://www.ngdata.com Predicting & Preventing Banking Customer Churn by Unlocking Big Data 1 Predicting & Preventing
WHITE PAPER Turning Insight Into Action The Journey to Social Media Intelligence Turning Insight Into Action The Journey to Social Media Intelligence From Data to Decisions Social media generates an enormous
2014 Digital Marketing Optimization Survey results Top lessons learned from the leaders Table of contents 1: Introduction 2: Five lessons from the top 20% #1: They test to make decisions 3: #2: They put
Predicting & Preventing Banking Customer Churn by Unlocking Big Data Customer Churn: A Key Performance Indicator for Banks In 2012, 50% of customers, globally, either changed their banks or were planning
Discover How a 360-Degree View of the Customer Boosts Productivity and Profits eguide eguide Discover How a 360-Degree View of the Customer Boosts Productivity and Profits A guide on the benefits of using
Customer Experience Management Best Practices for Voice of the Customer (VoC) Programmes Jörg Höhner Senior Vice President Global Head of Automotive SPA Future Thinking The Evolution of Customer Satisfaction
SAP Solution in Detail Analytics Solutions from SAP SAP Sales Insights for Retail Enabling Competitive Advantage in Retail with Sales Insights Table of Contents 3 Quick Facts 4 Making Data-Driven Decisions
Case Study: Closing The Loop Connect digital marketing data and offline sales data to get true ROI with this cost-effective approach to Customer Intelligence. As digital marketing techniques and technologies
SAP Makes Big Data Real Real Time. Real Results. MAKE BIG DATA REAL WITH SAP SOLUTIONS: ACCELERATE. APPLY. ACHIEVE Accelerate, Apply, and Achieve Big Results from Your Big Data Big Data represents an opportunity
WHITEPAPER Today, leading companies are looking to improve business performance via faster, better decision making by applying advanced predictive modeling to their vast and growing volumes of data. Business
The Marketing Director s Guide to Selecting CRM A Publication www.collierpickard.co.uk Ltd 2014 Forging the Future As Marketing Director the responsibility for deciding the future direction of your organisation
Brochure HP TeamSite What s new in TeamSite? The latest release of TeamSite (TeamSite 8) brings significant enhancements in usability and performance: Modern graphical interface: Rely on an easy and intuitive
Harnessing Big Data to Improve Customer Service By Marty Tibbitts The goal is to apply analytics methods that move beyond customer satisfaction to nurturing customer loyalty by more deeply understanding
White Paper Analyzing Big Data: The Path to Competitive Advantage by Marcia Kaplan Contents Introduction....2 How Big is Big Data?................................................................................
Digital transformation can help you tame the perfect storm. The digital future for insurance. Following the 2008 financial crisis, the insurance sector has faced tighter regulation, which has made it harder
September 2012 White paper Make your CRM work harder so you don t have to 1 With your CRM working harder to deliver a unified, current view of your clients and prospects, you can concentrate on retaining
Elevate Customer Experience and Engagement in the New Digital World John Chan CRM Solutions Lead, Microsoft Business Solutions Microsoft Asia Customer buying behavior has fundamentally changed therefore,
Application of Big Data in Retail 5Ways Retailers Can Use Big Data Analytics Contents Executive Summary No Dearth of Data Big Data Analytics in Retail: Five Areas to Focus 3 4 5 Personalization ecommerce
WHITE PAPER Next Best Action Using SAS Customer Intelligence Clear the Clutter to Offer the Right Action at the Right Time Table of Contents Executive Summary...1 Why Traditional Direct Marketing Is Not
DIALOGTECH The 49% ROI Mistake Marketers Don t Know They re Making WHY CALL ATTRIBUTION IS SO CRITICAL TO MOBILE MARKETING DIALOGTECH INSIGHTS RESEARCH REPORT The 49% ROI Mistake Marketers Don t Know They
The Big Deal About Big Data Executive Summary 1 retail consulting and industry thought leadership The Big Deal About Big Data Research Study Presented by: The Parker Avery Institute the education, training
The Cloud for Insights A Guide for Small and Medium Business As the volume of data grows, businesses are using the power of the cloud to gather, analyze, and visualize data from internal and external sources
Business Intelligence: How better analytics can lead your business to higher profits. Introduction The economic downturn is forcing business leaders to rethink strategic plans. To remain competitive, businesses
TIP SHEET 5 TIPS FOR SETTING MEASURABLE SOCIAL MEDIA GOALS Social media participation has become a must for businesses today. A survey by CMO in February 2012 revealed that marketers expect to spend almost
Mobile Real-Time Bidding and Predictive Targeting AdTheorent s Real-Time Learning Machine : An Intelligent Solution FOR Mobile Advertising Marketing and media companies must move beyond basic data analysis
shop shop shop shop Retail / E-commerce Turning Big Data (and Little) Into Actionable Intelligence and Customer Profitability Part 3 in a series of 5 ebooks on intelligent customer engagement Case Study
Customer Centric Banking June 2014, IBU Banking, SAP EMPOWERED CUSTOMERS ARE 79% 53% 59% Digitally Connected of customers spend at least 50% of total shopping time researching brands online. Socially Networked
SOCIAL MEDIA ADVERTISING STRATEGIES THAT WORK ABSTRACT» Social media advertising is a new and fast growing part of digital advertising. In this White Paper I'll present social media advertising trends,
The Age of the Customer: Focus on Retention A 5% increase in customer retention can boost profitability 75%. Does your customer loyalty make the grade? CONTENTS Customer Lifecycle 101: Roadmap to Customer
The following is intended to outline our general product direction. It is intended for information purposes only, and may not be incorporated into any contract. It is not a commitment to deliver any material,
Universal Banking Solution System Integration Consulting Business Process Outsourcing The relevance of online analytics to banking In its 2010 report on the state of online banking in the United States,
Retail Store Optimization Leveraging Video Analytics to Boost Total In-Store Performance The Intelligent Store Series Whitepaper Page 1 R etail organizations have been using video surveillance as a valuable
Six Secrets to Simply Sell More Wine Texas Wine & Grape Growers Association 2013 Annual Conference & Trade Show Case Study: WHY SELL MORE WINE? Facts Winery X was selling 3,000 cases per year, virtually
Powering Performance with Customer Intelligence Are you ready to make Customer Intelligence your performance advantage to outpace the competition? Frequently Asked Questions (FAQs) PNT Marketing Services
Big Data Putting data to productive use Fast Forward What is big data, and why should you care? Get familiar with big data terminology, technologies, and techniques. Getting started with big data to realize
Beyond the Click : The challenge In B2B marketing, the ultimate objective of any campaign is to generate the most qualified leads possible, convert these leads into new opportunities that fill the sales
Corporate360 is a leading IT sales intelligence provider. The company's flagship product Tech SalesCloud is a cloud software, designed for IT marketers to avail comprehensive marketing campaign data services.
Today, we have access to a vast amount of customer data that can be used to power sales and marketing efforts. That may not be the case tomorrow. behind. Currently, regulations for customer data are looser
Pr(e)-CRM: Supercharging Your E- Business CRM Strategy Presented by: Michael MacKenzie Chairman, Chief Research Officer Mike.Mackenzie@ConvergZ.com Michael Doucette President Mike.Doucette@ConvergZ.com
Accenture Business Intelligence for Fashion and Luxury Creating a Differentiated Customer Experience for Long-term Brand Loyalty Fashion is inherently an ever-changing industry. Customer preferences fluctuate
Follow these and enjoy an immediate lift in the loyalty of your customers By Kyle LaMalfa Loyalty Expert and Allegiance Best Practices Manager What is the Key to Business Success? Every company executive
Survey Results Table of Contents Survey Results... 4 Big Data Company Strategy... 6 Big Data Business Drivers and Benefits Received... 8 Big Data Integration... 10 Big Data Implementation Challenges...
Research Brief Elevating Customer Analytics Initiatives and Building the Coveted Holistic Customer View November 2014 Written By: Christy Maver, Actian Key Takeaways 1. The evolution of Big Data and analytics
Community Ebook / September 2012 / / 1 888 6radian Market Research with Social Media Gives you the direction and tools you need to use social media to become a more agile, engaged, profitable and productive
Getting Behind The Customer Experience Wheel Create a Voice of the Customer Program for your Organization In any business, serving your customers well is critical to success, loyalty and growth. But do
I D C A N A L Y S T C O N N E C T I O N Dave Schubmehl Research Director, Cognitive Systems and Content Analytics Greg Girard Program Director, Omni-Channel Retail Analytics Strategies C o g n i t i ve
Contents Foreword Preface xi xv STRATEGY 1 FIND GROWTH BEFORE YOUR COMPETITORS DO 1 The best sales leaders drive growth for their companies. They use data and insights to anticipate market momentum and
G00270685 Agenda Overview for Digital Commerce, 2015 Published: 18 December 2014 Analyst(s): Jennifer Polk Marketing is making a greater impact on, and taking more responsibility for, digital commerce.
IBM SPSS Modeler Three proven methods to achieve a higher ROI from data mining Take your business results to the next level Highlights: Incorporate additional types of data in your predictive models By
The Definitive Guide to Data Blending White Paper Leveraging Alteryx Analytics for data blending you can: Gather and blend data from virtually any data source including local, third-party, and cloud/ social
DATA SHEET be seen. MARKETPLACES Amazon, ebay and other marketplaces like Jet.com, Newegg and Sears account for a growing portion of global online retail sales. Online retailers of all sizes are recognizing
Send hyper-personalized emails based on revolutionary predictive algorithms and increase email revenues by 30%. Companies using both the Salesforce Marketing Cloud and predictive marketing from AgilOne,
RETAIL BANKING Customer Management Human. PRODUCT SHEET Managing all your customer interactions Ambit CustomerConnect SunGard s Ambit CustomerConnect provides banks with an integrated, centralized solution
$ BIG DATA IN BANKING Table of contents What is Big Data?... How data science creates value in Banking... Best practices for Banking. Case studies... 3 7 10 1. Fraud detection... 2. Contact center efficiency
Cloud Sales Management System Click Here to View a Presentation of the Sales Leads Strategy Effective Sales Leads + Effective Account Assignment = Improved Prospecting Performance & Profitable Sales Growth
The Complete Guide to CUSTOM FIELD SERVICE APPLICATIONS Copyright 2014 Published by Art & Logic All rights reserved. Except as permitted under U.S. Copyright Act of 1976, no part of this publication may
Q Customer Maximize Sales and Margins with Comprehensive Customer Analytics Struggling to connect the dots between Marketing, Merchandising and Store Ops? With the explosion of customer interaction systems,
GUIDE Wealth Management 9 Social Media Guidelines for Wealth Management Firms Wealth Management 9 Social Media Guidelines for Wealth Management Firms Wealth management firms that embrace social media can
Inbound Marketing vs. Outbound A Guide to Effective Inbound Marketing There s a new, yet not so new way to market your business these days, and it s a term called Inbound Marketing. Inbound marketing may
What s Trending in Analytics for the Consumer Packaged Goods Industry? The 2014 Accenture CPG Analytics European Survey Shows How Executives Are Using Analytics, and Where They Expect to Get the Most Value