…and it is your customer data.
Nine out of ten purchases still take place in the store. That means that with each swipe of the credit card, customers send a strong signal of preference by means purchase. But today this signal is lost into one of these: DMP, CRM, or another three-letter acronym for your data sinks.
The Big Data revolution at Google, Facebook, Amazon and Apple has transformed the consumer journey across channels, and even helped turn a presidential election. This transition simultaneously poses tremendous challenge and opportunity to retailers.
The oldest and largest marketing data aggregator, Acxiom, recently opened up its database to let individuals see and edit the data that the company has collected about them. Data scientists and marketers have been viewing the data and, often, chuckling at its inaccuracy.
‘Tis the season that many retailers look to tactics and strategies to programmatically maximize their e-commerce conversion, and customer value pre-peak. These new innovations are critical for success, but always include a bit of risk. Are there any “tried-and-true” approaches we can confidently implement pre-peak with 100% certainty?
Big Data has become the subject of Big Hype, much as Social Media and Mobile were recently. Our goal today is to peel back the hype and discover some of the key principles behind Big Data so we can make the best possible decisions about when, where, and how to apply it.