Predictive Marketing News & What We Are Reading This Week: Digital Mannequins & Customer Loyalty

Aug, 7 2015

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Big data, machine learning and the future.

1. Forbes: 3 Levers To Success in Predictive Analytics
In 15 years of experience, I have seen countless predictive models—but very few useful ones. Most take too long to build, and then sit unused on the shelf. The model becomes a memory, and a bad one at that. Behind the scenes, countless hours were spent figuring out what to model, getting agreement on definitions and parameters, building the model, optimizing it and preparing for the presentation to senior management. Then “boom”: something goes amiss, all the effort goes down the drain, and yet another model meets its arch nemesis—the shelf. Worse, the analytics group’s reputation suffers for “not producing anything”.


 

2.  Huffington Post:  Is Customer Loyalty a Myth?
We talk and measure customer loyalty, that sentiment that keeps customers buying from their favorite brands. But in an age when every customer with a smartphone has the ability to instantly price compare (and they do so standing in your store), read and write reviews, and be offered competitive offers instantly once they click on a product - does customer loyalty truly exist?

 


 

One of the biggest challenges for a lot of retail brands is how to create a fully-integrated brand atmosphere that engages the modern shopper. An integrated approach that utilises technology will reap the rewards. With that in mind, here are five ways to future-proof your retail store.

 


 

4.  MultiChannel Merchant:  Why Retailers are Slow to Go Omnichannel
“Knowledge is power” or so the saying goes. In the era of the Internet of Things — where devices collect data every hour of every day — this statement couldn’t be truer. One company uniquely positioned to rise to the challenge of understanding all of this data is Google.

 


 

5.  CIO:  Retail CIOs must balance security with innovation by Sharon Goldman
Retail CIOs need to weigh IT governance against business innovation – not to mention customer, employee and executive education – if they want to deliver a seamless and secure omnichannel shopping experience.

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