Big Data & Digital Marketing

A recent IBM Institute for Business Value study notes that leaders are 166 percent more likely to make most decisions based on data, and 75 percent of leaders cite growth as the key source of value from analytics.

In the new IDC retail insights study: “Business Strategy: Big Data and Analytics Lay the Foundation for Revenue Growth,” it is noted that, in 2013, approximately 50 percent of retailers were using big data and analytics to inform pricing strategies, market intelligence and customer acquisition, with more retailers to join in next two to three years.

The various functions of a retail business, such as marketing, merchandising, supply chain, operations and customer service, must wear different hats at different times and should think about how others perceive their brands, as well as what they can do to enhance customer centricity.

Here are some examples of how IBM helped four famous retailers (Luxottica, BestBuy, Elie Tahari and Macys)

Wouldn't it be great if when you walk in a store you could have the shopping assistant give you exactly what you came in for? For any store where you go.

Aside from some of the bigger names, not every online retailer is hot on this either, but things are changing now.

The retail landscape has changed drastically in the last 10 years, customers now more than ever expect retailers to go the extra mile to keep their custom.