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each channel, device and platform has retailers start using their data to understand set to explode. This will drive even greater its own data store. Retailers create ‘data their customers, as predictive commerce can investment in Big Data platforms to store, marts’ to rationalize and analyze the data. help to make customers immensely loyal.” process, and contextualize the food of This can help long-term planning, but is The metrics for measuring how consumers sensor data that will erupt,” says Williams. very expensive to create and maintain.” shop online are not the same as the “Many businesses are not in a position analytics used in-store, points out Bridget An edited approach to adopt a digital transformation process. Johns, head of customer engagement at While the benefts of data mining can be Their IT staff is often stretched thin, data is RetailNext, a retail analytics company. multi-fold, companies still need to have a trapped in proprietary silos, and business unifed view of how to use the data. “There As an example of the complexities that “ without a detailed plan as to what to do is a danger in collecting and merging data processes and policies prevent data integration,” says Kurtis Williams, chief product offcer at Mindshare Technologies. with it. Data combined with more data Retailers are drastically companies face, a lot of valuable data is improving the retail creates even more data. […] Data today requires careful curation to manage it and in text form, like on customer feedback environment by using data appropriate security measures to protect sites and in social media. It can give a deep analytics to understand past it,” says Williams. understanding of the customer’s experience, There is also a danger of acting on the but this type of data is diffcult to analyze shopping trends, predict most available or noisiest data, when it without automated text analytics, points seasonal orders and streamline is not relevant to the consumer’s interest, out Williams. the delivery process. Predictive says Kauffman. “It is very easy to alienate It helps that brands are able to get frst- a consumer by presenting irrelevant data, hand insight into their consumers through commerce can help make virtually chasing them around the internet their own e-commerce sites, but this makes customers immensely loyal or otherwise putting your priority to sell a it all the more pertinent to invest in the particular item above their desires”. technology to organize and analyze the One obvious area of interest is in how data gathered. “A common issue retailers EMEA, Zoe Ripley ” willing consumers are to partake in come across is having decent data but not ChannelAdvisor marketing director of programs that help them fnd their products being able to access it for multiple business or reward them for their loyalty. Analytics, purposes because it is locked up in another for example, can help determine whether system,” says ChannelAdvisor marketing “Retailers are trying very hard to fnd the consumer should be greeted or not, director of EMEA, Zoe Ripley. “Today it is out how to take that same kind of says Johns. “We really believe there is essential that online retailers incorporate methodology and apply it to stores, for value in that very personal one-to-one data strategy into their wider business example, by determining the traffc, or what communication with your customer, but model. When properly leveraged, data can the data can tell you about these people your customer has to be very clear in saying be a ticket to expansion and success,” moving from A to B,” explains Johns. ‘I want you to know that I am in the store. Ripley continues. “We need look at anything that can make I am going to give you permission to talk the customer’s retail experience better, to me’. Then that opens up an entirely When data brings results determine why they are more likely to go different set of capabilities,” says Johns. To achieve success, many retailers are from A to B, and what that means in terms BloomReach’s Kauffman says: “Our choosing to centralize their inventory and, of engagement and sales. We can also perspective is that technology should not as a result, are unlocking unparalleled learn from anonymous data, [like] when be invasive in order to deliver a valuable insights into their overall business customers cross in front of the store before experience to the visitor—in fact, when operations, says Ripley. “How and where they come in and how many people come the content is relevant to the consumer, it’s retailers manage their inventory determines in, and understand how long customers valuable and helps them on their discovery how quickly and cost-effectively they can spend in the store, which is a very path, without violating their privacy.” manipulate that data to expand, migrate important metric when you want to look at “There will be more data—and unless or specialize. As a result, retailers are engagement.” you have considerable resources—both drastically improving the retail environment To this end, traditional marketing research technology and human—it is unlikely that by using the data analytics of their inventory and consumer surveys are gradually being you can build expertise and excellence to understand past shopping trends, predict eclipsed by mobile tracking and other digital around it”, continues Kauffman. The good orders for seasonal periods and streamline tracking platforms. “Consumer mobile news is that there are options to simplify the delivery process. It’s important that tracking (iBeacon, Beacon, Bluetooth LE) is and improve how data will be used. n September-October 2014 - N°19 - BW Confidential 49