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  • admin 9:55 am on October 31, 2015 Permalink
    Tags: , , BrickandMortar, Demise, Exaggerated, , Greatly, , ,   

    The Demise Of Brick-and-Mortar Retail Is Greatly Exaggerated: Four Ways Advanced Analytics Can Help 

    E-commerce may be the darling of retail of late, but that doesn’t spell the end for brick and mortar stores. Far from it, 93% of total retail sales worldwide still take place in a store. And with consumers willing to pay 50% more for items that they can touch and see, it’s obvious that physical stores still represent a significant opportunity for any retailer.

    680204_demise_brickmortar

    So what can retailers do to maximize this opportunity? Here are four ways that advanced analytics can transform the profitability of any physical retail store:

    Have the Right Stock in the Right Place at the Right Time

    Most retail chains develop assortment plans using high-level historical sales with some rules-based customization across store clusters. Unfortunately, this often results in poor inventory performance and customer dissatisfaction due to stock-outs. Why? Because the plans don’t account for micro-variations in demand.

    Figure1_640

    Consider these scenarios:

    A) Stocking the sizes that match your customer demographics. Let’s look at an example. In Store B (Figure 1), there is less demand for small and medium sizes, but since stock is not adjusted to reflect this demand, these garments have to be marked down at the end of the season, while store A has the same issues with regard to larger sizes. Analysis of SKUs that sell only during mark-downs, can help the retailer get the right sizes into the right shops. This approach worked for the retailer in this example and led to more than 5% increase in sales and around 50% reduction in mark-downs for affected products.

    B) Factoring in the impact of competition.
    This is especially so for stores in shopping center locations. Retailers will need to consider whether other retail chains in the same mall carry the same products at a different price point.

    C) Forecasting based on weather. For one retailer, sales of hosiery in winter made up 31% of inner wear sales for those stores in cold climes. But these stores received roughly the same amount of stock as the stores in the tropical latitudes, increasing the likelihood of stock-outs and dissatisfied customers (Figure 2).

    Figure2_640

    Price it Right

    Despite the availability of granular data around price and sales, many pricing decisions in retail are still based on gut feel, past experience and simplistic Excel analysis of summarized data.

    The result? Retailers tend to apply proportional price increases in response to manufacturing cost increases which could lead to a substantial volume decline. If retailers use price sensitivity analysis on their granular data, they could be far more precise about which prices should go up, by how much and at what time. A totally different approach to pricing that could yield incremental revenue for the company.

    Maximize the Impact of Promotions

    Analysis of promotions for a single clothing brand in a number of national retail chains over 2 years showed that only a third of the promotions for this brand yielded more than 20% uplift over average and 41% didn’t yield any uplift at all.

    Decision tree analysis (like the example in Figure 3) can tell us why. If promotions are not aligned with special events, such as Christmas, then they might not work as there is no additional foot traffic at that time. Just as surprising – 33% of promotions don’t yield the results expected because of insufficient stock. And what about your competitors? If a deal similar to that advertised can still be found cheaper at a competitor, the promotion is not going to take off. Retailers should also be able to find out if an unexpected effect of a promotion was a “halo effect”, increasing sales across the range.

    Figure3_640

    Get Value for Money on Marketing Spend

    One retailer I worked with had a markedly different spend on marketing in two years. However, the sales across the two years indicated that the extra marketing spend had not translated to additional sales. Clearly, this is a case where understanding the factors that contribute to the success of individual marketing efforts can optimize the overall spend.

    Some factors that impact on the ROI?

    • Brand equity. Is the brand a category leader or a new entrant?
    • Channel mix. Customers may receive marketing promotions from different channels and campaigns, but which one(s) had an impact with the customer?
    • Contractual obligations. Which retail marketing efforts are as the result of the need to support suppliers or the need to consume media during specific times?
    • External factors. Economic cycles, competitor advertising and special events could all affect the return on marketing investment.

    Retailers now have access to increasingly granular operational data such as point of sales (POS), inventory. When combined with other data, such as catalogue promotions and media consumption, and viewed through the lens of the right analytics, retailers can understand customer buying behavior at stores better than ever before.

    Never want to miss another opportunity? Then find out how you can overcome the barriers to analytics adoption in your business today.

    This post first appeared on Forbes TeradataVoice on 22/10/2015.

    The post The Demise Of Brick-and-Mortar Retail Is Greatly Exaggerated: Four Ways Advanced Analytics Can Help appeared first on International Blog.

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  • admin 9:46 am on October 31, 2015 Permalink
    Tags: Bear, Bulls, , , ,   

    Tech Bulls and Bear in Spotlight: Teradata Corporation 

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  • admin 9:51 am on October 30, 2015 Permalink
    Tags: , , HighTech, issue, LowTech, , Negate   

    Don’t Let A Low-Tech Issue Negate Your High-Tech Marketing Efforts 

    KeynotesWhile at PARTNERS 2015 last week, I was inspired by story after story of how individualized marketing is helping companies deliver exceptional customer experiences. But I’d barely unpacked my suitcase, when I was reminded once again that customer experience management isn’t only about high-tech, data-driven approaches. Often, the success of a customer experience rests with distinctly low-tech, offline issues. Employee engagement is critical, as are countless customer touchpoints, many of which are overlooked because they seem so insignificant (even though they could be anything but).

    Here’s what happened to me. A few days ago, I stopped to fill my car at a local gas station. Initially, the pump provided a pleasant, and now familiar, experience. Its digital screen welcomed me, told me to insert my credit card, prompted me to enter my zip code, asked if I was a loyalty member, suggested that I might like a car wash and inquired if I wanted a receipt. After that, I was instructed to lift the nozzle and press the button for my preferred grade of gasoline. All of this was agreeable enough, right up until I wanted to use that little gizmo on the pump nozzle – you know, that very “low tech” mechanical device that lets the gasoline flow from the pump into the car tank without someone having to hold the handle. I tried to take advantage of that latch, but it kept slipping, again… and again… and again.

    I continued to fill my tank, but by the time I was finished, I was annoyed and grumbling. For me, the faulty “open flow” device had totally negated all the brilliant technology that had greeted me when I first started filling up my tank.

    This “missed opportunity for awesome” was one more real-world example of what can go wrong if you become so preoccupied with data driven marketing that you start neglecting customer service basics. Remember: Any break in the customer experience, whether online or offline, disrupts the relationship you’re trying so hard to nurture. Your goal is to integrate data and analytics to glean the insights needed to create rich customer experiences, the kind that real, live people can relate to and enjoy. The only way you can achieve that goal is to make sure things are flowing just as smoothly offline as they are online. After all, your customers are people – not data points, not numbers or columns on a spreadsheet – but humans, with needs, desires, expectations… and gas tanks to fill.

    The post Don’t Let A Low-Tech Issue Negate Your High-Tech Marketing Efforts appeared first on Teradata Applications.

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  • admin 9:46 am on October 30, 2015 Permalink
    Tags: , , Netherlands, , ,   

    The Netherlands: Sligro To Use Teradata Solution For Customer Marketing 

    Teradata Press Mentions

     
  • admin 9:53 am on October 29, 2015 Permalink
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    Aster Learning Machine Video 


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  • admin 9:51 am on October 29, 2015 Permalink
    Tags: Achievements,   

    ‘Epic’ Achievements 

    Last week, Teradata recognized a wide array of industry leaders who innovate, create and set the bar in leveraging data to generate extraordinary business value from their data and analytics.

    The Teradata EPIC Awards, judged by an independent panel representing a cross-section of thought leaders, CIOs, marketing specialists, technologists, educators and technology journalists were presented at the Teradata PARTNERS Conference and Expo in Anaheim, CA.

    Congratulations again to all these honorees:

    CUSTOMER AWARDS

    Analytical Excellence

    Finalists: Saudi Telecom (STC); Janssen Research & Development, LLC; Navy Cyber Defense Operations Command; TIAA-CREF

    Big Data Excellence

    Finalists: Westpac Banking Corporation; Williams-Sonoma, Inc.; Cisco; Etisalat Misr

    Customer Insights and Engagement

    Finalists: Anthem, Inc.; Symantec Corporation; Aircel Limited India

    Innovation and Leadership

    Finalists: Sherri Zink, SVP, chief data and engagement officer, BlueCross BlueShield of Tennessee; Greg Gegner, digital artisan, GE Healthcare; Todd Leach, IT analyst, Nationwide

    Integrated Marketing Management

    Finalists: Brierley+Partners; Kaiser Permanente and Covalent Marketing

    Integrated View of the Business

    Finalists: T-Mobile Polska S.A.; Johnson & Johnson; Orbitz Worldwide LLC and Cognizant Technology Solutions; Ministério do Desenvolvimento Social e Combate à Fome

    Operational Excellence

    Finalists: Expedia; eBay and Alation; BlueCross BlueShield of Tennessee; REWE Group Germany

    PARTNER AWARDS

    ISV (Independent Software Vendor) Big Data Intelligence

    Winner: Hortonworks

    ISV & SI (Systems Integrator) Business Insight

    Winners: (ISV) Informatica; (SI) IBM GBS-BAO

    ISV & SI Enterprise Intelligence

    Winners: (ISV): Aptitude Software and Swedbank; (SI): Capgemini

    ISV & SI Collaborative Revenue

    Winners: (ISV): Hortonworks; (SI): IBM GBS-BAO

    ISV & SI Partner-Driven Wins

    Winners: (ISV): SAS; (SI): Accenture

    Couldn’t be there  and need more detail?  No worries. Here is additional info about the award categories and winners and photos from the event.

    Brett Martin
    Editor-in-Chief
    Teradata Magazine

     

     

    The post ‘Epic’ Achievements appeared first on Magazine Blog.

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  • admin 9:46 am on October 29, 2015 Permalink
    Tags: &#39need, chief, , , , , , offensive, Officers, , role&#39, , ,   

    Chief data officers 'need to play an offensive role' and industry needs more of them, says Teradata governance chief 

    Teradata Press Mentions

     
  • admin 9:51 am on October 28, 2015 Permalink
    Tags: , Dozen, , , , ,   

    A Dozen Great Moments From Teradata PARTNERS 2015 

    3A8A0934

    Press conference panel.

    Last week’s Teradata PARTNERS 2015 conference in Anaheim, California was a five-day deep dive into how global companies can optimize the use of data, analytics and integrated marketing applications to change the game in their industries. More than 3,500 of the world’s best and brightest attended from over 840 companies around the globe. 

    Many of those attending were business, marketing and technology leaders who came to share their latest strategies for driving enterprise value. As is always the case at Teradata events, there were countless exciting, informative, motivational – and fun! – moments. But my aim here is to share a mere handful that (somehow) capture for you the “flavor” of it all. So here, despite the fact that I could list many, many more, are my top 12 moments from Teradata PARTNERS 2015, where EVERYTHING was “Breaking Big:”

    DataKind

    DataKind advocate.

    1. Teradata announces global availability of the newest version of Teradata Integrated Marketing Cloud. Our latest release empowers marketers to truly individualize their marketing and connect one-to-one with customers by unifying customer-interaction data across paid, earned and owned channels, at scale.  More than 100 industry journalists and analysts learned about this at our Sunday Press Conference.

    2. DataKind Data Drive. Teradata Cares is the driving force behind a strategic giving focus for our company: data philanthropy. We are thrilled to be partnering with DataKind, an organization whose mission is to use data science in the service of humanity, on this industry leading initiative. We hosted a 24-hour DataKind Data Drive, where participants got to choose what they wanted to work on and along with their Data Ambassadors, they worked together to solve problems.”

    University Reception 1

    Teradata University students.

    3. Teradata University Reception. Teradata University Network hosted an Academic Welcome Reception for students and faculty attending the conference. This is a great way for us to recognize the finalists for our 2015 Student Competitions.

    4. Opening night Welcome Reception. “A picture is worth a thousand words.”

    Opening night reception 3

    Violinist at rockin’ Opening Reception.

    5. Epic Awards. These awards recognize outstanding achievement in the use of data to generate business value, innovative use of analytics technology, integrated marketing solutions, and partnership excellence. See 2015 Epic Award winners here.

    Conference attendees

    Conference and Expo Hall attendees.

    6. Expo Hall. Here Teradata and its partners showcased their latest offerings to continuous traffic from conference-goers throughout the week.  This was also the area where Teradata Cares again demonstrated its commitment to communities Teradata serves.

    House of Blues

    House of Blues.

    7. Teradata Marketing Applications takes over the House of Blues. Again, the pictures say it all!

    Robert Herjavec

    Robert Herjavec of Shark Tank.

    8. Robert Herjavec Keynote. Amazing. Inspiring. Sobering. “If the internet was a child, it would just have begun to crawl.”   The Shark Tank TV personality totally gets it when it comes to data and value.

    Mike Rowe Keynote 2

    Mike Rowe of Dirty Jobs.

    9. Mike Rowe Keynote. Grit, guts and hard work. Loved his opening line: “I’m still trying to figure out what it is you people do.”  Mike made it clear that a team mindset and solid work ethic are vital to every individual’s success, and his gracious approach to finding the beauty in even “dirty jobs” was … unforgettable.

    10. Art of Analytics Exhibit.  When it comes to data visualization, science becomes art.  This exhibit at PARTNERS was very moving, and here’s an article about it from Datanami — http://www.datanami.com/2015/10/23/the-art-of-analytics-or-what-the-green-haired-people-can-teach-us/

    11. Sessions. Scores of marketing-focused content sessions explored today’s hottest marketing topics, including omni-channel marketing, digital marketing, marketing resource management and of course, individualized marketing.

    Collective Soul Gala

    Collective Soul band.

    12. Closing Gala at Disneyland with Collective Soul. The perfect way to cap-off PARTNERS 2015!

    So there you have it: my top 12 moments from PARTNERS 2015. Were you there? If so, please share your favorite moment in the comments below.

    The post A Dozen Great Moments From Teradata PARTNERS 2015 appeared first on Teradata Applications.

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  • admin 9:47 am on October 28, 2015 Permalink
    Tags: , , ,   

    Small Data The 5 Ds of Dysfunctional KPIs 


    Teradata White Papers

     
  • admin 9:47 am on October 28, 2015 Permalink
    Tags: , ,   

    Small Data The 5 Ds of Dysfunctional KPIs 


    Teradata White Papers

     
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