After the big bang. How retailers can harness the big data explosion. A report from the Economist Intelligence Unit. Sponsored by

Size: px
Start display at page:

Download "After the big bang. How retailers can harness the big data explosion. A report from the Economist Intelligence Unit. Sponsored by"

Transcription

1 After the big bang How retailers can harness the big data explosion A report from the Economist Intelligence Unit Sponsored by

2 After the big bang: How retailers can harness the big data explosion Savvy retailers are avoiding a race-to-the-bottom by using big data to win customer loyalty The potential to profit from big data massive sets of data that are accumulating at hyper speed in the digital era looms large for businesses today. But what does it mean for retailers vying to win and hold on to customers who are themselves hugely empowered by digital information? Some retailers may conclude that the data deluge is overwhelming, shrug and stick to their knitting. But those retailers that face the challenges, raise their game and harness this explosion of information are enjoying unique opportunities. Indeed, in time, the line between the data haves and data have-nots will likely be the line between retail s winners and losers. Where we are today The good news is that retailers are ahead of other businesses in recognising the potential of big data, which some 93% are already leveraging, compared with 84% of businesses in other sectors. That is according to a survey of 752 executives conducted by the Economist Intelligence Unit in March 2012 as part of a larger big data research programme sponsored by SAS. The findings remain fully valid today, according to our research. Retailers are, however, more likely to express concern about data security, perhaps because of the sensitive consumer information they often possess. Only 43% of respondents in retail organisations say they have the security infrastructure needed to exploit their data, compared with 51% of respondents overall. They are also far more likely to cite security concerns as the main impediment preventing them from adopting cloud computing and data storage. This may be hurting their profits; 29% of companies that say they outperform their peers on profitability also say they have a welldefined strategy for the cloud, compared with just 11% for underperforming companies. In addition, retail s ability to process big data is stalling. Half of retailers say the speed at which they are processing data has stayed the same over the last three years, compared with 34% for business more widely. The hold-up is not technological; it is cultural. The gap between what the best companies are doing and what retailers are doing points the way to an advantage for early movers. Where the best retailers are leading the industry Savvy retailers armed with the right data and algorithms now regularly offer personalised promotions and tailor their marketing by using data gleaned from, potentially, billions of transactions. For instance, Kroger, the US grocery group, uses its loyalty-card data to mail personal offers to customers based on what they like and are likely to buy. This means the costly one-size-fits-all 1

3 Where has your organisation benefitted from the data produced by smart systems? Where could it see benefits? (% of retail respondents) Have seen benefits Has potential benefits Operational efficiency Customer experience Strategic decision-making Customer service Regulatory compliance Systems for identifying and developing new products and services Go-to-market speed Source: Economist Intelligence Unit survey The Holy Grail for us is [understanding] what someone is looking for before they have bought it. Steve Willett, Kingfisher s chief executive for group development 2 sale event is often replaced by a more precise, targeted approach. Kroger also uses big data to stock its shelves with the products that its best customers want, thus rewarding their loyalty. If we didn t have the data, we could look at how many people bought a particular brand, and make decisions based on that, says Christopher Hjelm, chief information officer. But key questions would remain unanswered: Were those customers buying it because it was on promotion or a special price? Are the customers buying this product loyal, good customers? Unsurprisingly, online stores are at the forefront of using data. FreshDirect, a New York online food retailer, cannot rely on a product catching a shopper s eye while wandering the aisles. But it can continually rearrange its online store around the customer s preferences. If a shopper selects a steak, the site can supply ideas for a worthy side dish, based on that person s past purchases and those of other shoppers. To do this, FreshDirect leverages data that ranges from things that relate to the shopping trip that the customer is currently on, to insights from past trips, to models of customers who are similar in an array of different ways, says John Leeman, chief marketing officer. Kingfisher, the UK home-improvement retailer, is determined to know its customers, however they shop. It is shifting to a single technology platform that will channel all sales online, online for store collection, by telephone or in-store and create a single profile of the customer. The system is being rolled-out from its Screwfix business, which already offers customers tailored offers based on triggers gleaned from their purchase histories. We try to identify if someone is doing a [homeimprovement] project, but we also try to identify someone s propensity to do a project, says Steve Willett, Kingfisher s chief executive for group development. Kingfisher then entices the customer to buy related items. On the horizon and beyond The next frontier for many retailers is social and mobile. Retailers are particularly eager to mine data from social networks more effectively, for the real-time insights they can offer into what customers are thinking. However, unstructured social data can be difficult to integrate into customer relationship management (CRM) systems and challenging to analyze in an automated fashion. Social and mobile represent two great opportunities for us, says Ryan Davis, senior director for customer relationship management at Abercrombie & Fitch. If you think about our target customers day-to-day lives, it s just a natural step. That s where we would place some of our big bets

4 in the hope of delivering personalised messages to customers quickly and easily. For Kroger, the frontier is location-based mobile targeting. It is piloting a technology in stores in Cincinnati that allows it to provide offers relevant to customers when they are in the correct aisle of the store, says Mr Hjelm. We re going to see massconsumption within the next 24 to 36 months. It s going to come fast and serious, because consumers are going to want it. Many retailers would also like to use big data to improve cross-selling. But some experts believe their effectiveness will be limited, because heavily relied-upon transaction data come too late in the customer s shopping journey. For big ticket spending especially, a transaction may be the final act in a process that began weeks or months earlier. The big question is: can retailers recognise browsing habits and respond pre-emptively? The Holy Grail for us is [understanding] what someone is looking for before they have bought it to identify what they re attempting to do, says Kingfisher s Mr Willett. Conclusion Too often, retailers cast the Digital Age as a raceto-the-bottom, in which consumers are encouraged to find the cheapest option with the stroke of a touch screen, making it nigh on impossible to preserve profit margins. But retailers at the vanguard are using big data to win customers loyalty by providing greater convenience and more salient offers. In an age of price transparency and increasingly capricious consumers, only retailers who take data seriously will be in control of their fates. So what does an embrace of big data mean for the retail executive? Will data scientists replace the traditional, instinct-led retailer? That seems unlikely. What is clear is that data must be allowed to escape the IT department and flow to other departments if retailers are to benefit fully. But vision and strategy come first, executives insist. Data are a means, not an end. 3

5 Whilst every effort has been taken to verify the accuracy of this information, neither The Economist Intelligence Unit Ltd. nor the sponsor of this report can accept any responsibility or liability for reliance by any person on this white paper or any of the information, opinions or conclusions set out in the white paper. Cover: Shutterstock 4

6 London 20 Cabot Square London E14 4QW United Kingdom Tel: (44.20) Fax: (44.20) New York 750 Third Avenue 5th Floor New York, NY United States Tel: (1.212) Fax: (1.212) Hong Kong 6001, Central Plaza 18 Harbour Road Wanchai Hong Kong Tel: (852) Fax: (852) Geneva Boulevard des Tranchées Geneva Switzerland Tel: (41) Fax: (41)

A report from the Economist Intelligence Unit. Views from the C-suite Who s big on BIG DATA? Sponsored by

A report from the Economist Intelligence Unit. Views from the C-suite Who s big on BIG DATA? Sponsored by A report from the Economist Intelligence Unit Views from the C-suite Who s big on BIG DATA? Sponsored by Executive summary The way that big data pervades most organisations today creates a dynamic environment

More information

In search of insight and foresight

In search of insight and foresight A report from the Economist Intelligence Unit In search of insight and foresight Making the most of big data C-suite perspectives: Mind the data-strategy gap Sponsored by Intel, the Intel logo, Xeon, and

More information

A report from the Economist Intelligence Unit. Retail banks and big data: Risk and compliance executives weigh in

A report from the Economist Intelligence Unit. Retail banks and big data: Risk and compliance executives weigh in A report from the Economist Intelligence Unit Retail banks and big data: Risk and compliance executives weigh in A recent Economist Intelligence Unit survey of bank risk management executives yielded a

More information

A report from the Economist Intelligence Unit. Driving a data-centric culture: A BOTTOM-UP OPPORTUNITY. Sponsored by

A report from the Economist Intelligence Unit. Driving a data-centric culture: A BOTTOM-UP OPPORTUNITY. Sponsored by A report from the Economist Intelligence Unit Driving a data-centric culture: A BOTTOM-UP OPPORTUNITY Sponsored by Driving a data-centric culture: a bottom-up opportunity Big data has captured the attention

More information

An report by the Economist Intelligence Unit. Competing smarter with advanced data analytics. Sponsored by

An report by the Economist Intelligence Unit. Competing smarter with advanced data analytics. Sponsored by An report by the Economist Intelligence Unit Competing smarter with advanced data analytics Sponsored by Contents Introduction 2 1 2 3 4 5 6 Companies take to the offense with data analytics 4 Focusing

More information

Assessing enterprise readiness for the IoT Executive summary

Assessing enterprise readiness for the IoT Executive summary A report from The Economist Intelligence Unit Assessing enterprise readiness for the IoT Executive summary Sponsored by Contents Executive summary 2 Investing in the IoT: reasons and plans 4 Business models

More information

Managing the challenge of product proliferation. A survey by the Economist Intelligence Unit sponsored by the George Group

Managing the challenge of product proliferation. A survey by the Economist Intelligence Unit sponsored by the George Group Managing the challenge of product proliferation A survey by the Economist Intelligence Unit sponsored by the George Group Preface Managing the challenge of product proliferation is a survey and executive

More information

The collaborative cloud Harnessing the brainpower of the enterprise

The collaborative cloud Harnessing the brainpower of the enterprise Harnessing the brainpower of the enterprise Harnessing the brainpower of the enterprise Introduction Early adopters of cloud technology companies that have planned, implemented and seen the benefits in

More information

Page 1. Transform the Retail Store with the Internet of Things

Page 1. Transform the Retail Store with the Internet of Things Page 1 Transform the Retail Store with the Internet of Things The Internet of Things is here today There s a new era dawning in the retail industry, and it s being driven by the Internet of Things. The

More information

Frontiers of disruption: The next decade of technology in business

Frontiers of disruption: The next decade of technology in business : The next decade of technology in business Sponsored by Introduction Is technology-led innovation slowing down? Some observers consider this to be the case, believing that technology advancements are

More information

Personalized User Journeys. By Kevin Jackson Global Sales Director Gravity R&D 12/15/14

Personalized User Journeys. By Kevin Jackson Global Sales Director Gravity R&D 12/15/14 Personalized User Journeys By Kevin Jackson Global Sales Director Gravity R&D 12/15/14 Table of Contents Omnichannel and Retail 2.0... 3 Moments of Truth (MOTs)... 4 ibeacons, MOTs, and Big Data... 5 Personalized

More information

How Advanced Analytics is Helping CPG Manufacturers to Build Direct-to-Shopper Engagement and Drive Sales

How Advanced Analytics is Helping CPG Manufacturers to Build Direct-to-Shopper Engagement and Drive Sales How Advanced Analytics is Helping CPG Manufacturers to Build Direct-to-Shopper Engagement and Drive Sales Shopping behaviors are changing rapidly across the US and the global marketplace. From shifts in

More information

THE FUTURE OF BUSINESS: HUMAN RESOURCES How HR leaders are reinventing their roles and transforming business

THE FUTURE OF BUSINESS: HUMAN RESOURCES How HR leaders are reinventing their roles and transforming business A report from The Economist Intelligence Unit THE FUTURE OF BUSINESS: HUMAN RESOURCES How HR leaders are reinventing their roles and transforming business Sponsored by How HR leaders are reinventing their

More information

Helping retailers maximise customer lifetime value

Helping retailers maximise customer lifetime value HTK Horizon for Magento Helping retailers maximise customer lifetime value As personalisation becomes increasingly important, marketers need a deeper understanding of each customer to drive loyalty and

More information

Smart shopping with your bank Card Linked Offers and Merchant Funded Rewards The Next Generation Loyalty Program

Smart shopping with your bank Card Linked Offers and Merchant Funded Rewards The Next Generation Loyalty Program Smart shopping with your bank Card Linked Offers and Merchant Funded Rewards The Next Generation Loyalty Program Business ValueBusiness Value The Four Strategic Technology Areas The Must Haves for Competitive

More information

A report from the Economist Intelligence Unit. Retail banks and big data: Big data as the key to better risk management

A report from the Economist Intelligence Unit. Retail banks and big data: Big data as the key to better risk management A report from the Economist Intelligence Unit Retail banks and big data: Big data as the key to better risk management Big data as the key to better risk management The business of banking depends on evaluating

More information

Analytics in an Omni Channel World. Arun Kumar, General Manager & Global Head of Retail Consulting Practice, Wipro Ltd.

Analytics in an Omni Channel World. Arun Kumar, General Manager & Global Head of Retail Consulting Practice, Wipro Ltd. Analytics in an Omni Channel World www.wipro.com Arun Kumar, General Manager & Global Head of Retail Consulting Practice, Wipro Ltd. Table of Contents 03...Extending the Single View of Consumer 04...Extending

More information

Big Data or Smart Data?

Big Data or Smart Data? Big Data or Smart Data? How to Maximize What You (Already) Know About Your Account Holders MARKETING SERVICES 1 Big data is a big deal. It s the topic of much debate at financial institutions and the cause

More information

Fostering a data-driven culture

Fostering a data-driven culture Fostering a data-driven culture A report from the Economist Intelligence Unit Sponsored by Contents About this report Introduction Appreciating the financial power of data Share data and prosper 6 Start

More information

A report from The Economist Intelligence Unit. Measuring wellness. From data to insights. Sponsored by

A report from The Economist Intelligence Unit. Measuring wellness. From data to insights. Sponsored by A report from The Economist Intelligence Unit Measuring wellness From data to insights Sponsored by Executive summary As US employers grapple with rising healthcare costs, many have established employee

More information

Beaconstac. How Retailers can go Omni channel using Beacons

Beaconstac. How Retailers can go Omni channel using Beacons Beaconstac How Retailers can go Omni channel using Beacons 1 Contents Why beacons are the key to omni channel retail 3 What is omni channel and why it is a must have for retailers 3 How retail stores can

More information

Next generation marketing

Next generation marketing Next generation marketing If your marketing isn t real-time, it s out of date Real-Time Interaction Management (RTIM) Contents: What is RTIM? Why is it important? What are the benefits? Who s a strong

More information

The Role of Mobile in Retail Commerce. June 2013

The Role of Mobile in Retail Commerce. June 2013 The Role of Mobile in Retail Commerce June 2013 Page 1 Overview Since June 2010, edigitalresearch and Portaltech Reply have been tracking the growth and development of smartphone devices in mobile and

More information

BRIDGING THE OMNICHANNEL DIVIDE

BRIDGING THE OMNICHANNEL DIVIDE BRIDGING THE OMNICHANNEL DIVIDE BRIDGING THE OMNICHANNEL DIVIDE While ecommerce is recognized as one of the most exciting opportunities in the Consumer Packaged Goods industry, poised to make up 5% of

More information

Information-Driven Transformation in Retail with the Enterprise Data Hub Accelerator

Information-Driven Transformation in Retail with the Enterprise Data Hub Accelerator Introduction Enterprise Data Hub Accelerator Retail Sector Use Cases Capabilities Information-Driven Transformation in Retail with the Enterprise Data Hub Accelerator Introduction Enterprise Data Hub Accelerator

More information

Delivering a Smarter Shopping Experience with Predictive Analytics:

Delivering a Smarter Shopping Experience with Predictive Analytics: IBM Software Business Analytics Retail Delivering a Smarter Shopping Experience with Predictive Analytics: Innovative Retail Strategies Delivering a Smarter Shopping Experience with Predictive Analytics:

More information

CUSTOMER STRATEGY DRIVING SUSTAINABLE GROWTH THROUGH A CUSTOMER CENTRIC APPROACH

CUSTOMER STRATEGY DRIVING SUSTAINABLE GROWTH THROUGH A CUSTOMER CENTRIC APPROACH CUSTOMER STRATEGY DRIVING SUSTAINABLE GROWTH THROUGH A CUSTOMER CENTRIC APPROACH 1 Customer Strategy CUSTOMER STRATEGY With more connected global marketplaces, shortened product and service innovation

More information

The evolving role of data in decisionmaking

The evolving role of data in decisionmaking A report from the Economist Intelligence Unit The evolving role of data in decisionmaking Sponsored by and Contents About the report Introduction 3 1 Big data: a misunderstood and misused term The use

More information

The Shopatron Omni-Channel Playbook

The Shopatron Omni-Channel Playbook The Shopatron Omni-Channel Playbook The Shopatron Omni-Channel Playbook ecommerce, like football, is all about strategy. The plays you choose and your execution decide whether or not you win the game.

More information

The Benefits of Business Intelligence for Insurance Companies

The Benefits of Business Intelligence for Insurance Companies The Benefits of Business Intelligence for Insurance Companies Author: Máire Ryan McSherry, BA, FCII, LCOI, Chartered Insurance Practitioner Executive Summary Insurance companies are failing to capitalise

More information

The retail productivity agenda Paving the path for a productive store network

The retail productivity agenda Paving the path for a productive store network The retail productivity agenda Paving the path for a productive store network Stores have always been at the centre of the retail world. It is where consumers go to get to know brands, discover products,

More information

5 Big Data Use Cases to Understand Your Customer Journey CUSTOMER ANALYTICS EBOOK

5 Big Data Use Cases to Understand Your Customer Journey CUSTOMER ANALYTICS EBOOK 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

More information

Key Questions to Ask When Choosing an EPoS System

Key Questions to Ask When Choosing an EPoS System Key Questions to Ask When Choosing an EPoS System Contents Will the EPoS system grow with you? Will it integrate with an ecommerce website? How can it help you manage your stock? Are training, support

More information

SMALL AND MID SIZED ENTERPRISES ON THE FRONTIERS OF EXPORTING PROTECTING PROFITS WHEN CURRENCIES FLUCTUATE

SMALL AND MID SIZED ENTERPRISES ON THE FRONTIERS OF EXPORTING PROTECTING PROFITS WHEN CURRENCIES FLUCTUATE SMALL AND MID SIZED ENTERPRISES ON THE FRONTIERS OF EXPORTING PROTECTING PROFITS WHEN CURRENCIES FLUCTUATE Supported by: Protecting profits when currencies fluctuate Protecting foreign earnings against

More information

Long-term macroeconomic forecasts Key trends to 2050

Long-term macroeconomic forecasts Key trends to 2050 A special report from The Economist Intelligence Unit www.eiu.com Contents Overview 2 Top ten economies in 5 at market exchange rates 3 The rise of Asia continues 4 Global dominance of the top three economies

More information

e-commerce: A Guide for Small and Medium Enterprises HOW MID-SIZED COMPANIES CAN MAXIMISE THEIR ONLINE OPPORTUNITIES

e-commerce: A Guide for Small and Medium Enterprises HOW MID-SIZED COMPANIES CAN MAXIMISE THEIR ONLINE OPPORTUNITIES e-commerce: A Guide for Small and Medium Enterprises HOW MID-SIZED COMPANIES CAN MAXIMISE THEIR ONLINE OPPORTUNITIES 1 The Online Opportunity Given the UK Government s recently announced plans to get 12.5

More information

Deep Diving in Retail Big Data to Excel Business Performance

Deep Diving in Retail Big Data to Excel Business Performance Deep Diving in Retail Big Data to Excel Business Performance How IoT empowers BDA for Retail sector Kelvin Koo Business Development Manager kelvinkoo@clustertech.com +852 2655 6162 May 2015 Introduction

More information

TRANSFORMING THE CUSTOMER EXPERIENCE WITH RFID

TRANSFORMING THE CUSTOMER EXPERIENCE WITH RFID TRANSFORMING THE CUSTOMER EXPERIENCE WITH RFID TABLE OF CONTENTS EXECUTIVE SUMMARY... 03 WHY SHOPPERS LEAVE EMPTY HANDED... 04 OUT OF STOCK. OUT OF FAVOR... 04 A CALL FOR HELP UNANSWERED... 04 THE SLOW

More information

THE 7 STEPS TO A SUCCESSFUL CRM IMPLEMENTATION DEPLOYING CRM IN THE NEW ERA OF CONNECTED CUSTOMERS

THE 7 STEPS TO A SUCCESSFUL CRM IMPLEMENTATION DEPLOYING CRM IN THE NEW ERA OF CONNECTED CUSTOMERS THE NEW ERA OF ABOUT THE AUTHOR Paul Rogers is the Head of Customer Experience and CRM within HCL s Applications Division. Based in London, Paul is responsible for leading HCL s CRM consulting and technology

More information

RedEye DATA: THE UGLY BABY OF MULTI-CHANNEL PERSONALISATION MATTHEW KELLEHER - CCO

RedEye DATA: THE UGLY BABY OF MULTI-CHANNEL PERSONALISATION MATTHEW KELLEHER - CCO RedEye DATA: THE UGLY BABY OF MULTI-CHANNEL PERSONALISATION MATTHEW KELLEHER - CCO CONTENTS Introduction What are you trying to achieve? pg 3 Multi-Channel Personalisation What is it? pg 4 Building Blocks

More information

Amanda, a working mom, spotted a summer skirt on the website of a top clothing brand and ordered it. When the skirt arrived it was the wrong color.

Amanda, a working mom, spotted a summer skirt on the website of a top clothing brand and ordered it. When the skirt arrived it was the wrong color. www.wipro.com DRIVING CUSTOMER INSIGHTS FOR RETAILERS IN THE DIGITAL ERA Venkataraman Ramanathan Senior Architect, Information Management, Wipro Analytics Amanda, a working mom, spotted a summer skirt

More information

Big Data Retail Journey - Scaling from Personalization to Individualization

Big Data Retail Journey - Scaling from Personalization to Individualization W H I T E PA P E R Big Data Retail Journey - Scaling from Big Data Practitioner: Jayaprakash Nair contact him at jayaprakash.nair@aspiresys.com Author: Shreyasee Ghosh Research Analyst Aspire Systems 1/D-1,

More information

Foreword. info@sonata-software.com. www.sonata-software.com

Foreword. info@sonata-software.com. www.sonata-software.com Foreword Retail industry is currently going through a once-in-a-generation transformation, primarily driven by more evolved shoppers and technological innovations. This has resulted in a structural shift

More information

Celebrus for Telecommunications: Deepening customer intelligence with individual-level digital data

Celebrus for Telecommunications: Deepening customer intelligence with individual-level digital data SECTOR SOLUTIONS Celebrus for Telecommunications: Deepening customer intelligence with individual-level digital data p1 Introduction Today s Telecommunications sector is highly dynamic. Firstly the very

More information

Data analytics Delivering intelligence in the moment

Data analytics Delivering intelligence in the moment www.pwc.co.uk Data analytics Delivering intelligence in the moment January 2014 Our point of view Extracting insight from an organisation s data and applying it to business decisions has long been a necessary

More information

RetailSuite. The world s leading retail banking solution.

RetailSuite. The world s leading retail banking solution. The world s leading retail banking solution. We are set up now such that our sales agents have the capability and the discretion, within controllable limits, to set the terms and conditions of our products

More information

Digital Commerce in Retail: Supporting a Common Mobile Customer Journey RETAILER SURVEY - CONDUCTED NOVEMBER 2014

Digital Commerce in Retail: Supporting a Common Mobile Customer Journey RETAILER SURVEY - CONDUCTED NOVEMBER 2014 Digital Commerce in Retail: Supporting a Common Mobile Customer Journey RETAILER SURVEY - CONDUCTED NOVEMBER 2014 Digital Commerce in Retail: Supporting a Common Mobile Customer Journey CONTENTS 1. Background

More information

Choice: The new currency of commerce

Choice: The new currency of commerce Choice: The new currency of commerce Services Omnichannel will redefine retailers relationship with consumers Customers are more demanding, and more fickle, than ever Using co-channelling to embed customer

More information

BUILDING STRONGER CUSTOMER RELATIONSHIPS WITH SAINSBURY S

BUILDING STRONGER CUSTOMER RELATIONSHIPS WITH SAINSBURY S BUILDING STRONGER CUSTOMER RELATIONSHIPS WITH SAINSBURY S EMBRACING CUSTOMER DATA TO DELIVER BUSINESS TRANSFORMATION David Buckingham, Chief Executive Officer, i2c Mike Coupe, Group Commercial Director,

More information

Leveraging Data the Right Way

Leveraging Data the Right Way Leveraging Data the Right Way Use It or Lose It Unless organizations use information to drive action, Big Data or any data is more of a liability than an asset. The bottom line: Just get started. Here

More information

Leaving Money On The Table

Leaving Money On The Table 10 Ways Retailers Are Leaving Money On The Table Page 1 Let s face it: gaining and retaining customers can often feel like a high stakes match. What s the right balance between what you ll give in the

More information

Bringing a brighter future to retail

Bringing a brighter future to retail Bringing a brighter future to retail Welcome to the new high street BT is helping retailers thrive in a changing world and enabling growth through applied innovation across all channels. The past 25 years

More information

The cross-channel insight imperative

The cross-channel insight imperative The cross-channel insight imperative Why today s hyper-connected consumer means having a crosschannel consumer classification is more important than ever. An Experian Marketing Services white paper A changing

More information

Speed and quality under pressure: How financial services are different

Speed and quality under pressure: How financial services are different The challenge of speed About the research The report is based on a survey of 461 senior, Europe-based executives. Of these, 72 were from the financial services sector, including retail, corporate and investment

More information

Automated decision-making along the product life cycle saves OTTO millions

Automated decision-making along the product life cycle saves OTTO millions Customer Case Study RETAIL Automated decision-making along the product life cycle saves OTTO millions OTTO is a leader in Smart Data in German retail Overview Customer Online retailer for fashion and lifestyle

More information

BUY BIG DATA IN RETAIL

BUY BIG DATA IN RETAIL 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.

More information

Leveraging the Internet of Things in Marketing

Leveraging the Internet of Things in Marketing Leveraging the Internet of Things in Marketing Index 3 3 4 4 5 5 6 6 Introduction The Internet of Things outlook IoT and marketing Wearables: Reaching customers anywhere Location-based marketing RFID tags

More information

Beyond loyalty Meeting the challenge of customer engagement. A report from the Economist Intelligence Unit sponsored by Adobe Systems.

Beyond loyalty Meeting the challenge of customer engagement. A report from the Economist Intelligence Unit sponsored by Adobe Systems. Beyond loyalty Meeting the challenge of customer engagement A report from the Economist Intelligence Unit sponsored by Adobe Systems Part I Beyond loyalty Part I Preface Beyond loyalty: Meeting the challenge

More information

paragyte Whitepaper The Significance of CRM in Retail Industry

paragyte Whitepaper The Significance of CRM in Retail Industry Whitepaper The Significance of CRM in Retail Industry Retail Industry overview The retail sector has seen unprecedented growth in the last few years and according to research firm Lucintel, the global

More information

EPoS and Ecommerce Solutions for Independent Retailers

EPoS and Ecommerce Solutions for Independent Retailers EPoS and Ecommerce Solutions for Independent Retailers The future of independent retail is multi-channel. Successful independent retailers will need to have a real time, single view of customers, stock

More information

SAS. for Grocery. Empowering grocers to engage customers at every turn

SAS. for Grocery. Empowering grocers to engage customers at every turn INDUSTRY OVERVIEW SAS for Grocery Empowering grocers to engage customers at every turn The grocery industry has changed. To withstand the onslaught of growing competitive pressures, most grocers have embraced

More information

Education: Pressure to change quickly from above and below

Education: Pressure to change quickly from above and below About the research The report is based on a survey of 461 Europebased senior executives. Of these, 55 are from the education sector. Of the education sample, 40% are C-level executives or above and 35%

More information

Drive Business Further Faster With RetailNext

Drive Business Further Faster With RetailNext Drive Business Further Faster With RetailNext Built especially for retailers, RetailNext is a scalable in-store analytics platform that makes it easy for you to collect, analyze, and visualize data about

More information

SOLUTION OVERVIEW SAS MERCHANDISE INTELLIGENCE. Make the right decisions through every stage of the merchandise life cycle

SOLUTION OVERVIEW SAS MERCHANDISE INTELLIGENCE. Make the right decisions through every stage of the merchandise life cycle SOLUTION OVERVIEW SAS MERCHANDISE INTELLIGENCE Make the right decisions through every stage of the merchandise life cycle Deliver profitable returns and rewarding customer experiences Challenges Critical

More information

SOCIAL CUSTOMER RELATIONSHIP MANAGEMENT (SCRM) IN INDIAN RETAIL INDUSTRY

SOCIAL CUSTOMER RELATIONSHIP MANAGEMENT (SCRM) IN INDIAN RETAIL INDUSTRY SOCIAL CUSTOMER RELATIONSHIP MANAGEMENT (SCRM) IN INDIAN RETAIL Dr. A.R. Annadurai* INDUSTRY Abstract: Social CRM is an advanced form of customer relationship management that uses social media services,

More information

CUSTOMER ENGAGEMENT BUILDING PERSONAL CONNECTIONS WITH YOUR CUSTOMERS

CUSTOMER ENGAGEMENT BUILDING PERSONAL CONNECTIONS WITH YOUR CUSTOMERS CUSTOMER ENGAGEMENT BUILDING PERSONAL CONNECTIONS WITH YOUR CUSTOMERS 1 Customer Engagement CUSTOMER ENGAGEMENT The rise of social networking, mobile technology and e-commerce gave brands and retailers

More information

Apple Pay and loyalty

Apple Pay and loyalty Author: Peter Ballard December: 2015 Foolproof 2015 London Norwich Singapore Apple Pay s adoption Early signs from both the US and UK indicate that Apple Pay s adoption has been lacklustre. However, Foolproof

More information

AUTOMOTIVE AND SERVICE PARTS

AUTOMOTIVE AND SERVICE PARTS TURBOCHARGE PROFITS IN A COMPETITIVE INDUSTRY Unlock Your Data Unleash Your Sales Photo by Norbert Aepli, Switzerland. Exciting new technologies bring greater complexity to the Automotive and Service Parts

More information

Influencing the Purchase Journey of Millennial Shoppers

Influencing the Purchase Journey of Millennial Shoppers perspective Influencing the Purchase Journey of Millennial Shoppers Dinesh Bajaj Vice President, Retail, CPG, Logistics Practice, Infosys Abstract Retailing has been reinvented by mobility, virtual interface

More information

The rise of new e commerce channels: Shoppers Delight or Gangsters Paradise?

The rise of new e commerce channels: Shoppers Delight or Gangsters Paradise? The rise of new e commerce channels: Shoppers Delight or Gangsters Paradise? 2011 Introduction from Michael Norton Managing Director, PayPoint.net As evidenced by the IMRG in May 2011, the online retail

More information

WHAT S IMPORTANT TO CUSTOMERS IN THE OMNI-CHANNEL AGE. How Technology Has Changed The Consumer-Retailer Relationship And How Retailers Must Respond

WHAT S IMPORTANT TO CUSTOMERS IN THE OMNI-CHANNEL AGE. How Technology Has Changed The Consumer-Retailer Relationship And How Retailers Must Respond SURVEY REPORT: WHAT S IMPORTANT TO CUSTOMERS IN THE OMNI-CHANNEL AGE How Technology Has Changed The Consumer-Retailer Relationship And How Retailers Must Respond Sponsored by White Paper While price and

More information

not another omnichannel customer experience whitepaper data convergence paves the way A RETAIL PRO WHITEPAPER www.retailpro.com

not another omnichannel customer experience whitepaper data convergence paves the way A RETAIL PRO WHITEPAPER www.retailpro.com not another omnichannel customer experience whitepaper data convergence paves the way A RETAIL PRO WHITEPAPER contents 03 not another customer experience whitepaper 04 omnichannel =? 05 omnichannel = customer

More information

CONSULTING FOR THE MIDDLE MARKET

CONSULTING FOR THE MIDDLE MARKET BUSINESS INSIGHTS Big Data & HR s Collaboration in Middle Market Success Examining How Middle Market HR Leaders Can Leverage the Benefits of Big Data Patricia M. Johnson February 20, 2015 CONSULTING FOR

More information

Rethinking Retail Series:

Rethinking Retail Series: IN Rethinking Retail Series: Reinventing the store shelf edge in the age of omni-channel shopping STORE E SL Product $4.99 Reinventing the store shelf edge in the age of omni-channel shopping The meteoric

More information

Data quality and predictive analytics. An Experian Data Quality white paper

Data quality and predictive analytics. An Experian Data Quality white paper Data quality and predictive analytics An Experian Data Quality white paper Data quality and predictive analytics Overview Customers have more options today than ever before. For example, they can shop

More information

Experience Trumps All. Leveraging the Top Trends in Customer Service

Experience Trumps All. Leveraging the Top Trends in Customer Service Experience Trumps All Leveraging the Top Trends in Customer Service Table of Contents 03 The Changing Landscape of Omnichannel Service 05 Trend 1 The Social Media Explosion 07 Trend 2 Device Hopping 09

More information

www.green4solutions.com UNDERSTAND YOUR CUSTOMERS, GROW LOYALTY AND MAXIMISE REVENUES.

www.green4solutions.com UNDERSTAND YOUR CUSTOMERS, GROW LOYALTY AND MAXIMISE REVENUES. www.green4solutions.com UNDERSTAND YOUR CUSTOMERS, GROW LOYALTY AND MAXIMISE REVENUES. ABOUT GREEN 4 SOLUTIONS Customer Relationship Management experts for sport and leisure. Green 4 use knowledge, experience

More information

HOW THEY ARE SHOPPING NOW

HOW THEY ARE SHOPPING NOW HOW THEY ARE SHOPPING NOW Current trends and challenges in digital retailing An NCR white paper Are you ready for today s retailing? It s not just about what consumers want to buy. It s about how they

More information

Data-Driven Decisions: Role of Operations Research in Business Analytics

Data-Driven Decisions: Role of Operations Research in Business Analytics Data-Driven Decisions: Role of Operations Research in Business Analytics Dr. Radhika Kulkarni Vice President, Advanced Analytics R&D SAS Institute April 11, 2011 Welcome to the World of Analytics! Lessons

More information

Client focused. Results driven. Ciber Retail Solutions

Client focused. Results driven. Ciber Retail Solutions Client focused. Results driven. Ciber Retail Solutions Multi-Channel Retailing Retailers are confronted by a downturn in consumer spending, ever-tighter margins, emerging shopping patterns, empowered consumers

More information

BANKING ON WILL BIG DATA TRANSFORM THE CUSTOMER EXPERIENCE? A Retail Banking perspective

BANKING ON WILL BIG DATA TRANSFORM THE CUSTOMER EXPERIENCE? A Retail Banking perspective BANKING ON WILL BIG DATA TRANSFORM THE CUSTOMER EXPERIENCE? A Retail Banking perspective Big data provides an opportunity to deliver exceptional customer experiences and competitive advantage in an industry

More information

Get more from less. BT Expedite. How to build a prioritised CRM strategy in five steps. White paper

Get more from less. BT Expedite. How to build a prioritised CRM strategy in five steps. White paper Get more from less How to build a prioritised CRM strategy in five steps BT Expedite White paper Contents Executive summary...3 What is CRM and where is it going?...4 Get more from less: create a prioritised

More information

Digital Shopping Behavior in an Internet of Everything World Top Insights and Actions from Cisco Consulting Research

Digital Shopping Behavior in an Internet of Everything World Top Insights and Actions from Cisco Consulting Research Digital Shopping Behavior in an Internet of Everything World Top Insights and Actions from Cisco Consulting Research Jon Stine Hiten Sethi Top insights and actions from this research have significant implications

More information

The ReMark Proposition....at a glance. Maximum Value Creation

The ReMark Proposition....at a glance. Maximum Value Creation The ReMark Proposition...at a glance Our proposition at a glance Vision For Our Relationship ReMark seeks opportunities to partner with financial institutions to build discrete Alternative Distribution

More information

What Data Discovery can do for a true OmniChannel experience. A Credon White Paper

What Data Discovery can do for a true OmniChannel experience. A Credon White Paper What Data Discovery can do for a true OmniChannel experience A Credon White Paper 1 The need for Omnichannel According to Comeos (the Belgian confederation representing retail and commerce), online shopping

More information

[ know me ] A Strategic Approach to Customer Engagement Optimization

[ know me ] A Strategic Approach to Customer Engagement Optimization [ know me ] A Strategic Approach to Customer Engagement Optimization A Verint and KANA White Paper Table of contents Introduction... 1 What is customer engagement?... 2 Why is customer engagement critical

More information

Exceptional Customer Experience AND Credit Risk Management: How to Achieve Both

Exceptional Customer Experience AND Credit Risk Management: How to Achieve Both Exceptional Customer Experience AND Credit Risk Management: How to Achieve Both Lynn Brunner Experian and the marks used herein are service marks or registered trademarks of Experian Information Solutions,

More information

Enriching In-Store Experience with Analytics

Enriching In-Store Experience with Analytics Enriching In-Store Experience with Analytics Arun Kumar, General Manager & Global Head of Retail Consulting Practice, Wipro Ltd. www.wipro.com Balakrishna Parankusam Venkata, Principal Consultant, Retail

More information

Target and Acquire the Multichannel Insurance Consumer

Target and Acquire the Multichannel Insurance Consumer Neustar Insights Whitepaper Target and Acquire the Multichannel Insurance Consumer Increase Conversion by Applying Real-Time Data Across Channels Contents Executive Summary 2 Are You Losing Hot Leads?

More information

Your Last Traditional POS

Your Last Traditional POS RIS News Custom Research Your Last Traditional POS Examining the future of retail POS in a brave new omnichannel world produced by by joe skorupa Your Last Traditional POS Examining the future of retail

More information

A CHASE PAYMENTECH WHITEPAPER. Building customer loyalty in a multi-channel world Creating an optimised approach for e-tailers

A CHASE PAYMENTECH WHITEPAPER. Building customer loyalty in a multi-channel world Creating an optimised approach for e-tailers A CHASE PAYMENTECH WHITEPAPER Building customer loyalty in a multi-channel world Creating an optimised approach for e-tailers Table Of Contents Changing shopping habits... 3 The multi-channel journey...

More information

OAKLIN INSIGHTS. Successful Omni-Channel Retail

OAKLIN INSIGHTS. Successful Omni-Channel Retail OAKLIN INSIGHTS Successful Omni-Channel Retail SUCCESSFUL OMNI-CHANNEL RETAIL 1 Copyright Oaklin Ltd 2016. All rights reserved. Anyone following trends in the retail industry will be aware that retailers

More information

Become digital savvy because your customers are

Become digital savvy because your customers are Become digital savvy because your customers are IN THIS GUIDE 04 Making the most of our digital world 06 Digital Solutions 08 10 14 A perfect Combination 02 A digital strategy to reclaim your customers

More information

Re-Shaping Retail Integration. Changing retail landscape with Social-Mobile-Analytics-Cloud. www.wipro.com

Re-Shaping Retail Integration. Changing retail landscape with Social-Mobile-Analytics-Cloud. www.wipro.com www.wipro.com Re-Shaping Retail Integration Changing retail landscape with Social-Mobile-Analytics-Cloud Gaurav Mittal Principal Consultant Wipro Ltd. Table of contents 03... Abstract 03... Retail Industry

More information

The Future of Customer Experience

The Future of Customer Experience The Future of Customer Experience The Evolution of CRM across multiple touch points and channels in a consistent manner. The past 20 years have seen an evolution in how we view, analyse and manage our

More information

Accenture Business Intelligence for Fashion and Luxury. Creating a Differentiated Customer Experience for Long-term Brand Loyalty

Accenture Business Intelligence for Fashion and Luxury. Creating a Differentiated Customer Experience for Long-term Brand Loyalty 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

More information