Category: Consumer Profiling

The future of UK supermarkets is big data and personalisation

8/11/2018

The proposed merger of two supermarket giants, Asda and Sainsbury’s, has been hailed as one of the new “forces of UK retail”. But in a rush to point out that the combined chain would have nearly a third of the UK supermarket sector, one key factor has been ignored: Amazon.

Amazon recently launched its online grocery delivery service. Known for its speed, convenience and ease of use, we expect many shoppers to flock to the ecommerce behemoth as commonplace for their weekly shop in the near future. And who knows, maybe it won’t be long before Facebook and Google move into the supermarket space.

When heading to a competitor’s website is as easy as an app download away, traditional supermarkets need to innovate to retain their competitive edge. The question for Sainsbury’s and Asda is how do two very different brands still keep the customer at the heart of the shopping experience, and compete with ecommerce giants that have personalisation and big data use literally coded into their business models?
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How Google’s using AI and big data to make travel better

12/9/2018

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Consider how Amazon grew to the retail gargantuan it is today. Step one, see an opportunity to provide a better service by removing friction points. Step two, incremental growth through adoption and retention of loyal customers. Step three, data, data, and more data. Step four, harness data into action – innovate, enhance, and repeat.

With an already loyal band of customers and data stores that rival those of Amazon, Google is perfectly positioned to take a dominant position in the marketplace as it dives into travel. Its platform has the largely unrivaled ability to see when consumers are searching, it knows when they’re away from home.

It even has flight and hotel reservations pouring in through Gmail. Leveraging its vast data network and app integrations, Google is uniquely poised to give consumers a seamless and tailored travel experience from the moment they decide to take a trip (and really, even before that), to the moment they return (and really, even after that).
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Big Data, Big Impact: How Data Improves Your Social Media Marketing

24/7/2018

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Wi th the growing influence of big data, every small business owner and marketer has the power to revolutionize the market at their fingertips.
Big data has left its impact on many sectors and is changing the way people work, from retail to healthcare – and marketing is no different.
While social media was started with the intention of connecting with friends remotely, its purpose seems to have changed. Social media platforms are used by brands to advertise and expand their customer base. Not only is social media an output for marketing campaigns, it has also become the input for planning future social media strategies.
From likes, comments, shares to following and followers, you can learn a lot about your consumers and their behavior, just by accessing their social media profiles. With the enormous quantity of data accessed from the social media, big data is helping brands and marketers to manage such data to get actionable insights.

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All You Need to Know About Big Data and Its Influence on E-Commerce

9/7/2018

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E-commerce is a gigantic industry that gives people the privilege of exploring, comparing, and buying products remotely. Although it seems natural to most of us, this kind of service would be impossible without big data and its computational power.

By definition, big data is an evolving term that describes any voluminous amount of structured, semi-structured, and unstructured data that has the potential to be mined for information. In other words, big data help us to extrapolate valuable conclusions out of massive volumes of seemingly unrelated information.

In this post, we will show you all you need to know about big data and its influence on e-commerce. Here are 7 ways how this system of business intelligence is contributing to online retail.

1. Consumer Analysis
Whenever we browse the Internet, we leave a lot of digital traces all around the web. According to the research, 1.7 megabytes of data will be created every second for every person on earth by 2020. This helps online businesses to analyze target consumers and learn how they behave in the digital universe.

Big data enable companies to understand how people search and find products or services. You get to know their location, age, interests, and dozens of other features that constitute a buyer persona. The system also explains sudden spikes in demand and recent shopping trends, thus giving you inputs on which you can build your sales and marketing strategy.
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With Startups And Big Data, Airbnb Hosts Take The Human Out Of Pricing

27/6/2018

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Travel planning can be time consuming and frustrating. With constantly fluctuating prices, securing the cheapest flights and hotels seems more like an urban myth.

But it’s not just big providers that may struggle with setting the right price. Airbnb hosts face the same uncertainty in how to set flexible listing prices in response to changing market demands. The fancy economic term for this dilemma is “dynamic pricing,” and several startups, along with Airbnb itself, have tapped into the market.

One of the startups working to bring dynamic pricing to the masses, Wheelhouse, builds its pricing model on “over two dozen factors,” according to its help page. These attributes include records of local rental markets, hotel prices, and recent events, as well as past performances of hosts’ listings, listed photos, additional fees, and amenities of specific properties.

“We calculate the fair price of a given property on a given day, and that is the price for everyone,” Wheelhouse’s CEO Andrew Kitchell wrote in an email to Crunchbase News.

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How big data is helping brick-and-mortar stores fight back

12/6/2018

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One of the advantages that online retailers have traditionally had over brick-and-mortar stores is their ability to gather large amount of actionable data — a valuable commodity in the digital era. The rise of online retail has hit high street sales and footfall hard, but shops are fighting back. While they may not have access to the same level of browsing and conversion data that their online counterparts have, physical stores are increasingly making use of big data and in-store analytics to find out exactly how shoppers are engaging with their shops. This information then enables retailers to streamline their store layout and operations in order to boost profits.
A recent report from Cisco suggests that in-store analytics could add a staggering $61 billion (£45 billion) of value to retailers worldwide throughout 2018. The report states that retailers can significantly improve their workforce efficiency using real-time information, operational analytics, workforce management tools and shopping analytics.
With this kind of added value at stake, it is essential that retail businesses understand what they can do to ensure that they are getting the most out of big data and analytics. Gathering and analysing as much useful data as possible allows retailers to gain a competitive advantage, giving them the tools to completely rethink the physical environment of their stores as well as offering more personalised, convenient and flexible experiences for their consumers. This enables them to differentiate themselves against the competition and live up to the increasingly demanding expectations of contemporary shoppers.
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Tech companies have a leg up on airlines

5/2/2018

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As more tech companies enter the transportation market, their capabilities with big data and other disruptive technologies could spell trouble for airlines.
"A tech giant who extracts customer behavior will be much better placed than an airline, for example, which only has information on its own operations," said Henrik Hololei, director-general for mobility and transport at the European Commission.

Speaking at the Singapore Airshow Aviation Leadership Summit on Monday, a day before the Southeast Asian nation kicks off its annual air show, Hololei pointed to Amazon as an example. The world's largest online retailer announced air cargo services for its U.S. deliveries in 2016, raising fears that CEO Jeff Bezos could soon compete with global logistics giants such as FedEx or DHL.

From Google's self-driving car to Uber's helicopter tie-up with Airbus, a number of Silicon Valley names are now concentrating research and investment on moving customers from point A to point B.
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What shoppers really want from personalized marketing - McKinsey

17/11/2017

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What customers want and what businesses think they want are often two different things. Here’s what customers are looking for.

Anyone who has gotten an unsolicited and irrelevant offer related to something they’ve done online knows that creepy feeling that someone is watching me. This kind of reaction is the third rail of today’s drive to personalize interactions with customers.
That’s a problem because, when done right, personalization can be a huge boon for retailers and consumers. Targeted communications that are relevant and useful can create lasting customer loyalty and drive revenue growth of 10 to 30 percent. The challenge is to personalize in a way that doesn’t cross lines and delivers genuine value and relevance. But how do you know?

To better understand what customers really value, we asked 60 shoppers to create mobile diaries of their personalized interactions with various brands over two weeks. With over 2,000 entries in total, we were able to see what kind of personalized communication works for customers and what doesn’t.

Here are the five things that customers said they value when it comes to personalized communications:

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What Does Blockchain Tech Mean in the Big Data-Fueled Digital Economy?

18/10/2017

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The current online economy is largely driven by advertising.
Nearly every company with an online presence, from small businesses to digital giants, collects data about consumer behaviors in order to target those consumers with advertisements. Some may see this as a breach of privacy; but for most, the ease of communication and information exchange facilitated by the internet is too great of a benefit to give up. But what if we didn't have to sacrifice privacy for all that the world wide web has to offer?
Blockchain technology could enable such a future. Like the internet, blockchains are essentially communication networks, except they are distributed across many users, or nodes. Every transaction that occurs on the blockchain must be validated by a majority of the nodes, which makes the technology nearly tamper-proof and ideal for tracking the exchange of data and value.The current online economy is largely driven by advertising.
Currently, Amazon, Google, Facebook and thousands of other businesses are profiting from consumer data and there is very little that individuals can do about it. Technically, you could decide to stop all Amazon purchases, Google searches, social media posts, emails and essentially give up all use of the web; but in today's digital economy, this would be akin to living in a cave. Fortunately, there may be a middle ground between zero privacy and hermitism.

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How to shape your customer experience with big data

17/10/2017

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It’s clear that the volume of data is increasing, and shows no signs of slowing down. As such, brands will have to move beyond using data just to create internal reports to satisfy internal stakeholders; they need to start leveraging cross-departmental data to deliver insights and shape the customer experience better.

This comes at the back of companies undergoing digital transformation in Asia Pacific, where the first wave of change was migration towards the cloud and expanding their digital capabilities. With the right tools, the next wave will see marketers using both public and owned data to drive measurable outcomes, and enhance customer experience through personalisation.

It all sounds great, but where can companies start? Here are some big brands that have successfully managed to embrace data analytics to fuel efficiency and growth, with proven results:

The L'Oreal Group - Spearheading customer engagement through social listenings L'Oreal sells via retailers, it led to a large gap between the beauty brand and its customers. While it may be understandable given the size of the beauty conglomerate, the cosmetics giant is aware that customers are key, and were looking to change the dynamic with its new customer command center.

Using CRM technology, L'Oreal started analyzing its social media platforms – from tweets to Facebook posts, as well as product reviews and news stories. When necessary, for example a bad review is flagged, posts are routed internally to an appropriate employee in the command center who can engage with the writer.
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<<Previous

The future of UK supermarkets is big data and personalisation

How Google’s using AI and big data to make travel better

Big Data, Big Impact: How Data Improves Your Social Media Marketing

All You Need to Know About Big Data and Its Influence on E-Commerce

With Startups And Big Data, Airbnb Hosts Take The Human Out Of Pricing

How big data is helping brick-and-mortar stores fight back

Tech companies have a leg up on airlines

What shoppers really want from personalized marketing - McKinsey

What Does Blockchain Tech Mean in the Big Data-Fueled Digital Economy?

How to shape your customer experience with big data

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The leading "Management Consultants in Big Data"
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Categories

Archives

The leading ​"Management Consultants in Big Data"Business-Savvy, Vendor-Independent Expertsto help you thrive in the Big Data JungleUK - 0207 164 6260USA - 415-500-9874Or click here to contact us

The leading "Management Consultants in Big Data"
Business-Savvy, Vendor-Independent Experts
to help you thrive in the Big Data Jungle

UK - 0207 164 6260
USA - 415-500-9874
Or click here to contact us