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  • admin 9:51 am on August 6, 2015 Permalink
    Tags: , , look, , , , ,   

    Need An RTIM Solution? Look To Who Independent Researchers Name As A Leader 

    waveToday’s customers expect more than buyers ever have before. As always, they want an exceptional product or service, but now, they also want brands to engage with them in timely and relevant ways, regardless of channel. They expect you to know them, their purchasing histories, their preferences, etc. It’s a brave new world, that’s for sure, and to succeed, you need Real Time Interaction Management (RTIM).

    RTIM solutions optimize the development and delivery of relevant offers based on customers’ needs, using advanced analytics to understand their current context. These capabilities aren’t “new,” per se, but they are becoming essential within the broad marketing software landscape.

    How can you find the RTIM solution that’s best for your organization?

    I suggest you look at: 1) results offered by independent research firms and 2) solutions used by industry leaders. Here’s some information to help you get started:

    Forrester Research, Inc. has cited Teradata as a Leader in RTIM.

    Just last week, Forrester released The Forrester Wave™: Real-Time Interaction Management, Q3 2015,” authored by Rusty Warner, with Srividya Sridharan, Olivia French and Matthew Izzi.  Forrester has published “Wave” evaluations for many different industries, including campaign management and for broader enterprise marketing product offerings, but in this report, the firm focused on RTIM, analyzing and evaluating various vendor’s products.

    Teradata scored the highest out of the eleven vendors evaluated for the capabilities category of our current offering and was one of four vendors with the highest score in the solution strategy criterion. Forrester cited Teradata as:

    • One of two vendors noted for offering “enterprise-class, marketer-friendly analytics, as well as cross-channel orchestration,”
    • Among vendors implemented to “arbitrate multiple offers and manage two-way interactions simultaneously across inbound and outbound channels,” and
    • Having references that praise “customer profiles and segmentation, analytics, business rules and recommendation capabilities.”

    Teradata Real-Time Interaction Manager

    Teradata Real-Time Interaction Manager offers:

    • Scalability – Teradata RTIM has the ability to store massive amounts of contact and purchase history. That gives you the ability to track and use contact history even on the highest traffic websites.
    • Multi-channel interactions – With Teradata RTIM, interactions across multiple channels are stored in one customer session. As a result, you can identify multiple channel sessions as they occur and offer a better customer experience.
    • Multi-channel messages – Teradata RTIM allows you to present a single message in multiple channels. That makes your messages easier to deliver, maintain and track.
    • Part of a totally integrated marketing solution – Teradata RTIM provides one UI, giving you the ability to perform multi-step marketing campaigns across inbound and outbound channels with consolidated contact history.

    The RTIM market is evolving rapidly, as marketers seek to leverage analytics to deliver contextually relevant, real-time experiences across both digital and offline channels. For a complimentary copy of the Forrester RTIM Wave report, visit the following web page.

    Industry accolades are fantastic. But as the old adage reminds us, “The proof is in the pudding.” For additional proof, then, here’s how one of our customers is using Teradata solutions to make a big difference in their business.

    Check out the Teradata video here.

    The post Need An RTIM Solution? Look To Who Independent Researchers Name As A Leader appeared first on Teradata Applications.

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  • admin 9:51 am on August 6, 2015 Permalink
    Tags: , , look, , , , ,   

    Need An RTIM Solution? Look To Who Independent Researchers Name As A Leader 

    waveToday’s customers expect more than buyers ever have before. As always, they want an exceptional product or service, but now, they also want brands to engage with them in timely and relevant ways, regardless of channel. They expect you to know them, their purchasing histories, their preferences, etc. It’s a brave new world, that’s for sure, and to succeed, you need Real Time Interaction Management (RTIM).

    RTIM solutions optimize the development and delivery of relevant offers based on customers’ needs, using advanced analytics to understand their current context. These capabilities aren’t “new,” per se, but they are becoming essential within the broad marketing software landscape.

    How can you find the RTIM solution that’s best for your organization?

    I suggest you look at: 1) results offered by independent research firms and 2) solutions used by industry leaders. Here’s some information to help you get started:

    Forrester Research, Inc. has cited Teradata as a Leader in RTIM.

    Just last week, Forrester released The Forrester Wave™: Real-Time Interaction Management, Q3 2015,” authored by Rusty Warner, with Srividya Sridharan, Olivia French and Matthew Izzi.  Forrester has published “Wave” evaluations for many different industries, including campaign management and for broader enterprise marketing product offerings, but in this report, the firm focused on RTIM, analyzing and evaluating various vendor’s products.

    Teradata scored the highest out of the eleven vendors evaluated for the capabilities category of our current offering and was one of four vendors with the highest score in the solution strategy criterion. Forrester cited Teradata as:

    • One of two vendors noted for offering “enterprise-class, marketer-friendly analytics, as well as cross-channel orchestration,”
    • Among vendors implemented to “arbitrate multiple offers and manage two-way interactions simultaneously across inbound and outbound channels,” and
    • Having references that praise “customer profiles and segmentation, analytics, business rules and recommendation capabilities.”

    Teradata Real-Time Interaction Manager

    Teradata Real-Time Interaction Manager offers:

    • Scalability – Teradata RTIM has the ability to store massive amounts of contact and purchase history. That gives you the ability to track and use contact history even on the highest traffic websites.
    • Multi-channel interactions – With Teradata RTIM, interactions across multiple channels are stored in one customer session. As a result, you can identify multiple channel sessions as they occur and offer a better customer experience.
    • Multi-channel messages – Teradata RTIM allows you to present a single message in multiple channels. That makes your messages easier to deliver, maintain and track.
    • Part of a totally integrated marketing solution – Teradata RTIM provides one UI, giving you the ability to perform multi-step marketing campaigns across inbound and outbound channels with consolidated contact history.

    The RTIM market is evolving rapidly, as marketers seek to leverage analytics to deliver contextually relevant, real-time experiences across both digital and offline channels. For a complimentary copy of the Forrester RTIM Wave report, visit the following web page.

    Industry accolades are fantastic. But as the old adage reminds us, “The proof is in the pudding.” For additional proof, then, here’s how one of our customers is using Teradata solutions to make a big difference in their business.

    Check out the Teradata video here.

    The post Need An RTIM Solution? Look To Who Independent Researchers Name As A Leader appeared first on Teradata Applications.

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  • admin 10:01 am on July 16, 2015 Permalink
    Tags: , , look, moment   

    What will it look like when you catch the moment? 

    This post was authored by Michael Becker, Marketing Support Specialist, Teradata Marketing Applications.

    A moment is unique because it is fleeting – but it’s valuable for that same reason.

    What will it look or feel like, as a marketer, when you completely satisfy your customers on an individual level, catching the moment oh-so-perfectly? The short answer: use your customer engagement rates – social data, website traffic and dwell time, email and newsletter opt-in rates, response to offers or promotions, and ultimately your revenue growth – as a confirmation of sorts.

    Flip the switch – when’s the last time a marketing communication delighted you instead of annoyed you? What was your reaction during this brand experience?

    Great marketing should delight, should help, suggest, offer, entertain, amaze, inform, relate, understand, empathize and know. But you’ve got to prove it, prove you know them. Prove you understand them, and what they’re doing. Use the customer data they provide to help.

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    True individualized marketing that leads to increased customer engagement won’t feel like marketing at all in the eyes of your customer.

    The best way to achieve this level of intimacy is by leveraging the power of individualized insights by catching the right customer at the right moment with the right message, guaranteed to enchant them.

    You’ll know you’ve capitalized on the promise of individualized marketing that truly catches the moment when your marketing analytics show positive change in your customer relationships. Engagement rates, page interactions, social media statistical data, and transactional data should all reflect this kind of change. And this kind of positive change is not only possible – it’s measurable, it’s valuable, and it’s real. Here are results we’ve witnessed and helped companies achieve simply by employing a data-driven solution:

    • An international bank generated 570,000 sales leads in one year representing $ 4.4 billion in new business, a 28.7 percent increase in net profit, and a 65 percent saving in advertising budget.
    • A retailer achieved a triple-digit payback on the investment in just one year
    • A wine merchant revitalized its loyalty scheme – when a customer subscribes, that individual receives a slew of customized communication providing product details designed to intrigue them based on their needs and interests
    • A travel brand increased click-through rates by more than 100%
    • A biking company saw an increase in revenue per campaign multiply by 1.5 times
    • A food company generated more than 27,000 registrations for an event within a two month period

    In an increasingly convoluted marketplace where digital marketing rules, catching your customers at the right moment has never been more valuable, more needed. It just makes sense.

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    Act now by taking essential steps to implement individualized insights. The moment is there for the taking. Reach out and catch it before it’s too late!

    The post What will it look like when you catch the moment? appeared first on Teradata Applications.

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  • admin 9:53 am on May 22, 2015 Permalink
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    Does My Asset look Big Data in This? 

    I am often asked for my point of view on trends in the global Utilities analytics market. My headline response this year is that I have seen a marked increase in interest and investment by network companies in particular looking to operate, maintain and monetise assets more effectively.

    Globally, many wires businesses are officially and unofficially asking suppliers such as Teradata “what can you offer in this space?”. Given the increased interest in such offerings, the list of suppliers in this space continues to grow. This sudden acceleration of the market has driven suppliers to approach network analytics from very different angles. It is hard to categorise the solutions on offer precisely, but most will fall into one or possibly two of the following categories:

    • Distributed network solutions implemented on the network itself which have productised analytics at the heart of what they do;
    • Virtual control and monitoring solutions that continually run and assess the state of assets based on configurable analytics algorithms; and
    • Advanced analytics and big data companies such as ourselves that can integrate data from across a utility, and any other relevant external data for analysis.

    In addition to analytics, network companies are also evaluating the pros and cons of adopting industry standards including notation on data such as the Common Information Model (CIM), Smart Grid Architecture model and others. Advice on all of the above is given by engineering consultancies, systems integrators, and others. Are wires businesses confused? You bet they are.

    The most telling statement I heard recently was from a distribution company that had just executed a short RFI around asset analytics. The most concerning thing for them was that every respondent gave a totally different response and approach to a single ‘exam question’ – so how can any supplier be ‘right’? This is a real blocker to change in the distribution space in particular, as a festering uncertainty about what value might be delivered by any solution in an immature market will continually prevent the investment required to deliver the level of benefit expected.

    Here is my headline response to this very valid concern from network sector:

    • The three types of analytics I describe are all valid, and can deliver benefits on their own.
    • However, solution selection is not a straight choice between one solution that sits in one category and one that sits in another. Forward thinking Utilities implement analytics solutions in each of these categories, often focused on the same business problem that when combined deliver exponential results.
    • Utilities asset analytics is still a young industry. Anyone who claims to have ‘out of the box’ benefits on sale and available for delivery tomorrow is probably lying! Over time you will see more uniformity in solutions, and indeed coalitions between suppliers – plus more and more reference cases as solutions are implemented.
    • Be bold – the one thing that everyone I speak to is sure of is that there is significant benefit in investing in network asset analytics. Early adopters prove this to be the case, and in addition reputable suppliers like Teradata can show you examples from many other industries far more mature in asset analytics that continue to better monetise assets using data.

    Come and talk to us about any of these things! Even though we are not a supplier in all of these areas, we are happy to talk Utilities data all day long not only around analytics but more widely as outlined above. It is in all our interests to work openly and collaboratively to enable network businesses to monetise their assets using data by pushing the boundaries – and we at Teradata are proud to be leading that charge!

    Iain Stewart is the principal utilities expert for Teradata in the EMEA region, with over 13 years of experience in utilities sector. Iain also has in depth experience of both smart metering and smart grids, including how these link to and support the wider sustainability agenda. Other areas of experience include renewable energy, and smarter cities. Connect with Iain Stewart on Linkedin.

    The post Does My Asset look Big Data in This? appeared first on International Blog.

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  • admin 9:51 am on March 29, 2015 Permalink
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    What Will Digital Marketing Success Look Like? 

    marketing toolkitThat’s the question on many of our minds as we forge through the first quarter of a year that’s jam-packed with lofty marketing goals. Although it’s nothing new, digital marketing has become a major game changer for both brands and consumers. Now that we are completely accustomed to digital technologies that were once trendy (email, mobile, social, e-commerce, etc.), “digital” has become the norm for traditional marketing. And given the consumer’s adoption of all things digital, I must say, “traditional” has never looked so good.

    Digital marketing is a huge win for global brands. Campaigns based on digital technologies provide quantifiable results like none before, and the multi-channel world opens up endless possibilities for executing complex marketing strategies. But how can sophisticated marketers keep pace with the onslaught of digital marketing technology? Where will it take us next? And how can marketing teams use digital channels to edge out competitors?

    The pace of change in digital marketing can be quite overwhelming. To keep up, digital marketers need to look at their strategies and find ways to mimic this pace. In many cases, that means we need to adopt a more short-term perspective. Digital marketers have inherited planning methods from bygone days of planning for non-digital channels (perhaps direct mail). Plans were drafted a year in advance. Digital marketing success requires a different approach:  agility.

    Marketing agility focuses on adaptive plans and development, allows for quick changes or improvements, and encourages these quick changes and a snapshot understanding of results. This model allows marketers to adapt to unpredictable consumer behavior. If an agile strategy gives you the shivers, consider just a portion of your strategy. See if you can actually plan to be more adaptive as your target market needs change. Then, slowly show results that will encourage an agile planning strategy that can be rolled out across the marketing organization for all of your upcoming digital marketing initiatives.

    The question at hand remains: What will digital marketing success look like this year? And from this question, many more evolve, such as:

    • Where will the digitization of customer interactions take your brand?
    • How can you anticipate what the ideal customer relationship will look like?
    • How will digitization affect your internal marketing operations?
    • Can we even look a full year ahead, or should we settle on more short-term goals?

    In one of Teradata’s newest white papers, “Moving to the Forefront of Marketing: The Next Edge for Digital Marketers”, we address what digital marketing success should look like. Of course, there will be obstacles, so we also need to sustain an open, yearlong dialogue that focuses on improvements that will get your digital strategies up to speed. Talent, budgets, and creative best practices must be invigorated in order to achieve more meaningful customer engagements and ultimately, higher revenue for your company, and perhaps bragging rights for the marketing department, too. You can download the whitepaper from our new toolkit for digital marketers.

    The post What Will Digital Marketing Success Look Like? appeared first on Teradata Applications.

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  • admin 9:51 am on February 9, 2015 Permalink
    Tags: , affecting, America, , LATIN, look, , , ,   

    SPOTLIGHT ON LATIN AMERICA: A look at Market Trends affecting Marketing in Central and Latin America in 2015 

    Future of DDMCompiled by Janete Ribero, Professional Services Senior Consultant at Teradata Marketing Applications. Located in São Paulo, Brazil, Janete is the technical lead for Teradata Marketing Applications solution implementation throughout Latin America and the Caribbean. 

    Usually in the beginning of the year, many market research institutes divulge their assumptions about New Year trends. Anyone who works in marketing in some capacity is likely going to jump at the opportunity to edge out the competition by consuming these projections.

    But how about IT folks? We have so much and so many predictions for marketing…but how about for IT? Where are these predictions? Granted, it could be that IT people are likely so busy during their day-to-day routines that writing isn’t exactly a top priority. But it should be, because that future is now.

    Otherwise, the communication between IT people and Marketing people may be unclear. Mending that divide is crucial.

    Let’s try to help! The site “Trends Watching” had published 10 new trends for the Latin American market in 2015. Here’s ten things marketing and IT can look forward to, together, for 2015:

    1. IN-HAND BRANDS

    “As South & Central American consumers’ expectations grow, their patience shrinks. Smart brands are seamlessly integrating themselves into people’s lives with a sense of urgency. Busy consumers hate to waste time, they need problems solved and desires realized NOW. In 2015, they will demand brands add resources and create shortcuts that speed up delivery of their offering(s). And the best brands will be where and when they are needed, before the consumer even knows they want them. So, when and where do your consumers need (or expect) immediate service?”

    That is the market trend and its challenge. How can IT help? IT can supply analytics tools can help marketing people to understand consumer habits. With that information, they could create more assertive marketing campaigns that target customers where and how they want, through many digital channels, using marketing campaign tools to do that quickly and with management functionality to understand evolutions in customer interactions.

    2. BRIGHT IS BEAUTIFUL

    “BRIGHT IS BEAUTIFUL and South & Central Americans are desperate to flaunt evidence of their educational endeavors – as status symbols – to their family, friends and followers. What does this mean for brands in 2015? Beyond integrating learning and literary experiences into consumers’ daily lives (see STATUS SMARTS), consider how you can help consumers express (ok, how off ;) their knowledge. Can you help them do this through social networks? In Latin America people spend more time on social networks than anywhere else in the world, averaging 8.67 hours per month (comScore, July 2014). Perhaps the opportunity lies offline? Even a pair of jeans can be used to flaunt a love of literature”

    Once more, IT must help that strategy with digital channels monitoring, capturing their customers information thought social networks and give that information to marketing to create the appropriate communication for customers.

    3. RECONCILIATION BRANDS

    “Despite all the progress in South & Central America, there are strong strands of inequality and barriers that divide people in the region. Financial hardship, inequality and prejudice. Routine for many, yet brands traditionally avoid confrontations – such as the rolezinhos (teenagers that used social media to meet at shopping centers) or the polarized elections in Brazil. In 2015, brands cannot ignore these issues. The gap between rich and poor is a serious issue for 68% of Brazilians (Pew Research, June 2014). Brave brands (large and small) will jump into the discussion. Will you do your part to promote dialogue, mend wounds, and reconcile?”

    Technology can support overall business strategy by offering IT the infrastructure to understand consumer interaction, then let marketing use digital channels to talk to consumers.

    4. DEMOCRATIC PRICING

    “In March 2014 we highlighted EMPATHETIC PRICING: targeted discounts that address consumers’ pain points. In 2015, consumers – increasingly accustomed to participation – will drive pricing into new territory. South & Central American consumers, having lived through years of price fluctuations, will be confident they know what products and services should cost. They’ll demand brands go beyond EMPATHETIC PRICING, and allow the to participate in pricing. Afraid of discovering how much consumers truly value you? Use DEMOCRATIC PRICING in 2015 to show confidence in your offering and respect for your customers.”

    That strategy could not exist without technology! Marketers need a flawless marketing solution, with analytics and campaign management tools to create real time interaction with the end user.

    5. INSIDE OUT

    “Latin Americans have been hiding (from urban violence) in malls, stuck in traffic, and cramped in condos for years. But since the 2013 protests in Brazil and Mexico, and Venezuela in 2014, residents are rediscovering the value of getting out. In 2015, urbanites will gather outdoors – from food markets to reclaimed parking spaces – to share experiences. Brands can contribute to making spaces clean, safe and delightful. 62% of Brazilian consumers would exchange the brand they usually buy, for one that improves their city, supports culture and wellness and offers free leisure. (Ibope/Conecta, August 2014) Help consumers take it outside!”

    Here the mobile solutions will be the most important to create a great experience. Companies need to have information to make relevant mobile offers, while analytics tools and campaign management tools will also help.

    6. PLAYFUL PERKS

    “Brands in South & Central America often aim for a serious tone of voice to be viewed as professional or respectful. But the explosion of social networks (and brand-run accounts) changed what consumers expect from brands. Interactions with brands should be human: 73% of consumers in Brazil expect brands to build a meaningful relationship with them (Edelman, October 2014). In 2015, HUMAN BRANDS will go beyond joking with fans and followers online, and will excite consumers with playful perks and surprising interactions. Forget about the familiar formulae of perks. Your rewards must be provocative, exciting and playful to resonate.”

    Be present on social networks and invest everything on that effort! Any social strategy needs to be accompanied by a workflow tool—not just an information tool—but a tool that interacts with all internally and externally focused team members. An Integrated Marketing Management tool will very important to support that kind of strategy.

    7. CITY CONNECTIONS

    “Thanks to the continuing urbanization of South & Central America, and the rhythm of big cities (lots of work, little time off), many residents hardly know their neighbors. In 2015, lonely urbanites will increasingly want to break down the social barriers that are part of city living. Brands that design their product or service as a way to integrate consumers in the social, public spaces of their city will be embraced. Is your brand ‘friendly’ enough to help city residents connect? The more connections you drive, the more you will be loved <3”

    Wi-Fi solutions and mobile solutions are the best for that strategy. Once again, analytics and campaign management tools with customer interaction will be great.

    8. OK COMMUTER

    “The crossover between retail and transportation is surely one of the most exciting new areas to be explored in South & Central America. Inhabitants of São Paulo, Mexico City, Buenos Aires, Bogotá and Lima face a typical commute of 1 hour and 28 minutes. (Inter-American Development Bank, March 2014) Consumers in the region are embracing new forms of METRO MOBILITY (from taxi apps and shared rides to revitalized public transport). As the associated status around transport shifts from car ownership to unique experiences, the ability to shop en route will be an experience to becherished in 2015.”

    So much time is spent on public transportation, but that mobility of your customer can be a breeding ground for marketing.

    9. ONLIFE SERVICE

    “How much time should you be on Facebook? Is it ok to text during dinner? Is your data safe? Online life has to be managed (see ONLIFE MANAGEMENT), and it takes time and attention for Latin Americans still discovering the superpowers of smartphone-assisted living. In 2013, Latin America saw a greater increase in smartphones sales than any other region. (Gartner, February 2014) In 2015, while consumers want brands to help them manage their online lives, they still expect to be served and assisted, with total convenience. Brands must help them use technology in ways that are safer, healthier and more productive.”

    Digital channels and social networks are again a vital part of interaction between consumers and companies. Exposure on those channels must be monitored and analyzed to create a good experience. Big Data, analytics tools, campaign management and Integrated Marketing Management will be the basic needs to turn this strategy into a successful one.

    10. BRAND STANDS

    “According to Pew Research in June 2014, 72% of Brazilians are unsatisfied with the country. Events such as the World Cup and upcoming Olympics made consumers in South & Central America (not just Brazil) rethink the use of public space and their local infrastructure, causing a desperate desire to improve the region to match their national pride. Finding a solution is not only the government’s concern, people feel empowered to make changes themselves. And they want brands to step up and take a stand. In 2015, they will expect brands to prove they’re committed to the same causes they are. There are many issues out there – from bullying to bureaucracy – where will you take a stand?”

    Companies need to reduce internal bureaucracy, have solid process flow (through an automatized process), embrace integrated marketing management tools and that transparency, and create compelling customer communications as a result.

    “Trends Watching” (http://www.trendswatching.com) has outlined each point described here.  Now, you can make the gap between IT and marketing just a little smaller. You can understand the solutions and needs any business must have, and you can be prepared for 2015’s challenges.

    Have an excellent and successful 2015!

    Source:  “10 Latin Trends for 2015” – site http://www.trendswatching.com January 2015

    The post SPOTLIGHT ON LATIN AMERICA: A look at Market Trends affecting Marketing in Central and Latin America in 2015 appeared first on Teradata Applications.

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  • admin 9:52 am on January 25, 2015 Permalink
    Tags: , , , look, ,   

    NRF Show 2015: Look Where Data is Taking Retail! 

    The National Retail Federation’s Big Show, held annually in New York City, is THE show for everything that makes retail happen. Wanna see the latest in store design? You can see it at the Big Show. Who’s offering mobile payment? It’s at the Big Show. What’s next in HR for retailing? That’s there, too.

    The one common thread to it all? Data.

    Data is the backbone, the juice in retailing. And if the show is any indication, retailing continues to lead in the application of data of any kind.

    When we did our study of data usage for marketing applications in retailing and CPG firms last year (To access, please click here:  http://bit.ly/1Ji95K8 ) — we chose these retailing and CPG simply because we knew there would be wide variance in data usage. We expected to find some firms that were very mature and some that were not, and we weren’t disappointed. But retailing is where the cutting edge of data-driven decision making is in business.

    So where is data taking retail? Or rather, where will data take all of us?

    If NRF is the bellwether, then here’s a few places we should consider. The first is supply chain/demand chain linkage. I heard a lot of talk on the show floor around the idea of connecting data from the transactional side (who is buying what right now) to the supply side (getting product on the shelf). This connection has two huge implications.

    First, it’s really hard to keep the R in CRM. So hard, in fact, that few are really trying. Forget a relationship – what we’re trying to do is to manage this customer experience in such a way that we have permission for the next one. A stock-out may lead us to lose that next chance. Where a lot of pundits have gotten customer empowerment wrong is that they’ve focused on things like product reviews. ‘Be nice or get a bad review!’

    While those aren’t unimportant, the real power being wielded by today’s customer is the ability to shop around so efficiently. If you’re out-of-stock, you’re out of the next search. And out of stock doesn’t only mean you had it and now you don’t. It also means you never had it to begin with. That’s why the demand link is so critical.

    The second factor to this demand to supply link is margin. If you over-estimate demand and have too much stock, carrying costs are increased, mark-downs are more likely, and a host of other bad things. Better demand forecasting in real-time means better inventory management, avoiding stock-outs and overstocks while driving carrying costs out. We think this connection of supply chain and demand chain is so important, it is actually the subject of our next research project (if you’d like to participate or just chat about it, send me an email), assuming we can find enough good examples. My fear is that so many people are just starting to work on this, it may be a while before we know how this will play out.

    So one place we’re going is what I call vertical data integration – focusing on that supply and demand link.

    A similar theme of this year’s NRF Big Show is a collective “deep breath.” While PwC’s 18th annual survey of CEOs concludes that big data analytics are the most important technologies for investment this year, I really think that retailing is going to take a deep breath and get more strategic about managing what it has and how it is used. Rather than rush to acquire the latest technology, the questions now are going to be more about … “How do I connect the systems I already have and get the most from the data we’re collecting now?”

    Just as NRF was concluding, the holiday retail sales figures were released. If you just looked at Black Friday to Christmas, sales were disappointingly flat. But if you broadened your view, sales grew a healthy 4%. What we’ve observed is a fundamental shift in the way we shop for the holidays – with online sales happening sooner and the effects of gift-cards pushing sales in January. Holiday sales now begin at the beginning of October and are just concluding.

    This fundamental shift means that retailers don’t really know what’s going on – unless they are heavily engaged in analytics and Dynamic Customer Strategy, meaning they are testing and learning, not just mindlessly discounting. I think this period of learning about how consumers are really shopping is the one factor driving this pause.

    This collective deep breath is retailing’s version of two themes I’ve heard over the past six months at tech conferences: Innovate and integrate. If innovation is being driven by the business unit and integration by IT, then we have a problem, and Houston, we have a problem. That type of disconnect will lead to further technology bloat, or the adoption of over-lapping point solutions.

    Rather, I agree with Lisa Arthur, Teradata Applications CMO and author of Big Data Marketing (Wiley), who thinks that innovation will come through integration, and we both think retailing is where this will happen first. That’s not to say that we won’t see mobile payment systems being purchased, or that there won’t be additional investments in other customer-facing technologies, visual analytics, or other technologies. There will, but the organizations that are further along are focusing more of their efforts on making systems work together.

    Another theme I’ve heard at tech conferences is that IT needs to reclaim its seat at the strategic table. Nowhere is that more obvious than in retailing. The cloud and its subscription models enable marketing to buy technology and pay for it out of an operating budget. What I’ve been hearing from retailing CIOs is that this often gets done and IT gets brought in late in the process, if at all. As a consequence, not only is there technology bloat but resistance to integration becomes a problem. As I’ve heard over and over, business unit managers are quick to ask and expect data from other sources but loathe to provide data. And without someone who understands the big picture of data and IT sitting at the strategic table, it just doesn’t happen.

    But what is also different about retailing is that this is the first conference in at least a year where I spoke to an audience equally balanced between IT, data scientists, and marketing practitioners. That kind of participation (particularly by marketers) bodes well for bringing it all together.

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    Dr. Jeff R. Tanner is Professor of Marketing and the Executive Director of Baylor University’s Innovative Business Collaboratory. He regularly speaks at conferences such as CRM Evolution, Teradata Partners, Retail Technology, INFORMS, and others. Author or co-author of 15 books, including his newest, Analytics and Dynamic Customer Strategy, he is an active consultant to organizations such as Lawrence Livermore National Laboratory, Pearson-Prentice Hall, and Cabela’s.

     

    The post NRF Show 2015: Look Where Data is Taking Retail! appeared first on Data Points.

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  • admin 9:54 am on December 10, 2014 Permalink
    Tags: , , , look, ,   

    What Will Transactions Look Like in 2015? More Individualized. 

    It wasn’t so long ago that purchases had to be made with cash, a check or a credit or charge card—and whatever a customer planned to buy had to be bought in person, or over the phone.

    Then checks—and paper bills, for that matter—were rendered nearly obsolete by the advent of the debit card and simultaneously, e-commerce exploded into our lives. Suddenly, consumers had the ability to purchase virtually anything they wanted, any time they wanted it. The only requirements: an internet connection, a credit or debit card and, of course, a website offering the desired product or service. Could buying get any easier?

    Well, as it turns out, yes, it can. A new generation of payment options is emerging, and I can’t help but wonder if 2015 is shaping up to be The Year of the Truly Individualized Transaction.

    Google was a pioneer in this space, launching Google Wallet in 2011. Initially billed as a digital wallet to store credit cards, debit cards, gift cards, loyalty cards, offers, etc., Google Wallet can also be used to shop in stores using the Google Wallet Card or NFC tap and pay. Not surprisingly, it’s also easy to integrate with Gmail and soon Glass, too.

    Likewise, Apple Pay brings all the cachet and ease of Apple’s design and interactive sensibilities, along with integration across other product lines, starting with the sixth iteration of the ever-popular iPhone. The new mobile wallet app enables users to make purchases with the credit cards they have on file with their App Store and iTunes accounts—800 million users and counting—or to add another card simply by taking a picture.

    Buying something online or offline with Apple Pay couldn’t be simpler from there: your fingerprint confirms it’s you that’s doing the shopping when you tap the payment screen—and voilà, you’ve made a purchase.

    But some merchants want a mobile commerce network of their own.

    The Merchant Customer Exchange (MCX), which describes itself as “the only merchant-owned mobile commerce network built to streamline the customer shopping experience across all major retail verticals.” MCX is launching CurrentC, a QR code-based mobile wallet app—a move designed both to sidestep hefty credit card fees and to take aim at NFC-based payment systems like Google Wallet and Apple Pay. Will consumers prefer QR codes?  Either way, yet another door is opening, one that may create altogether new individualized payment opportunities.

    The new payment terminal startup, Poynt, which comes at e-commerce technology from a different direction: providing merchants with smarter, more secure ways to take payment in their stores. Poynt specifically makes use of the new “chip cards” that all financial institutions will be required to distribute by October 2015.  One of Poynt’s selling… well, points is that the app is not owned or operated by any of the major financial processing or credit card companies—something many small retailers will appreciate, along with the affordability of the unit: It starts at just $ 299.

    What strikes me most though, is nowadays the sacred “transaction” is less about money being exchanged, and more about the customer’s experience. Leading brands like 7-Eleven view it as having a digital conversation with the individual guests who come into 7-Eleven locations.  If you want to really understand where transactions are today, and glean a sense of where they are heading, watch this video:

    It’s a rapidly changing and deeply competitive e-commerce landscape out there, full of new opportunities for consumers, merchants and data driven marketing pros alike. After all, being able to effortlessly make a purchase is part of a great customer experience, and transaction details are part of great customer data management. Among all the options, no one can claim to know which will emerge the victor(s) at this point, but it stands to reason that the company offering the most streamlined and secure process will end up on top.

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  • admin 9:51 am on November 19, 2014 Permalink
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    What Does Successful Data-Driven Customer Engagement Really Look Like? 

    untangle“Data-driven.” At the Teradata 2014 Partners Conference last month, that word was everywhere. “Data-driven” was used to describe successful companies… and effective marketing campaigns… and compelling customer experiences… even the event itself was billed as a “data-driven conference.”

    Yes, “data-driven” is capturing plenty of buzz these days – and for good reason. As our recent research shows, more and more marketers know they need to use data to drive decisions and uncover new opportunities. They understand that mastering data is essential for maintaining a competitive edge, improving business performance and increasing revenue.

    But how, exactly, are marketers using data to transform the way their companies do business? What does data-driven customer engagement really look like?

    While at our Partners Conference, I had the pleasure of participating in a panel that explored those very questions. Today, I’d like to share a few of the highlights from our discussion.

    For starters, I want to be perfectly clear. When I talk about “mastering data,” I’m not just talking about feeling in control of data. I’m not just talking about how you collect and store all the data that’s now available to you. Aggregation, storage, feeling in control – it’s all necessary, of course; but it’s not sufficient. When I talk about “mastering data,” what I mean is that you need to make the data you have actionable. You need a comprehensive data strategy, one that includes gathering, storing and most importantly, mining for insights. You need to be able to use data to understand your customers, all the way down to the individual and whatever it is that’s important to that one, unique person.

    That’s what I call “real personalization.” It’s not the kind of personalization where you send out an email to your entire list and the only thing that changes is the name after the word “Dear.” No, real personalization is true individualization – and it represents a new era in marketing. As I mentioned on the panel, data driven marketing gives birth to “no marketing.” That’s marketing where you’re not pushing and you’re not spamming with irrelevant messages. “No marketing” moves beyond conversations. It’s about truly connecting. It’s about truly engaging with the brand, across all departments.

    Getting there will undoubtedly require some skill set retooling within your organization. You’ll need a new mindset and the proper analytics tools. Every marketer needs to evolve from a product/service focus to a customer and market focus. And don’t get me wrong. I’m not saying that will be easy. But it absolutely can be done.

    Take a look at what’s happening with Etisalat Misr, the Egypt division of telecommunications giant Etisalat, which operates across 17 countries in the Middle East, Africa and Asia. By using the Teradata Integrated Marketing Cloud, the company has been able to shift its strategy from mass marketing to a segmented and targeted customer-centric approach. As a result, response rates and customer satisfaction levels have improved, and with data analytics, the company is able to respond to inbound requests with the right offer at the right time. Campaigns that previously took six months to bring to market now take 15-30 days – and even better, Etisalat Misr is launching 300 percent more of them. In fact, the company has increased its B2C campaigns to more than 1,000 and improved the outreach 40 percent, all thanks to multi-channel personalized marketing. Find out even more in this video.

    Everyone on the panel agreed that the time to adopt a data-driven strategy is now. Over the next few months, we’re going to be hearing more and more about “data-driven” successes, and I truly believe that if you haven’t begun to move to real personalization in real-time, you’re going to be seriously lagging behind in just a few short years.

    The full panel discussion What Does Successful Data-Driven Customer Engagement Really Look Like? is available here on YouTube. And to access other virtual, on-demand sessions from the Teradata 2014 Partners Conference, please visit http://www.teradata-partners.com.

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