A 2012 Gartner report predicts that data will grow 800 percent over the next five years and 80 percent of the data will be unstructured.
Savvy retailers are harnessing the power of big data by combining data from a number of sources such as web browsing patterns, social media and industry forecasts.
They are using big data to predict trends, prepare for demand, optimize pricing, and ultimately to improve each customer’s experience to increase acquisition and retention rates.
Supermarkets are combining their loyalty card data with social media information to detect and leverage changing buying patterns. In turn, customers are getting timely offers and deals that match their needs.
Isn’t it time for your business to look at big data?
Author: Christopher Landry has extensive Marketing and Sales management experience within the automotive and customer packaged goods manufacturers. He developed and ran his own business for 15 years and is the current Director of Marketing for Colourfast Inc.
Published: November 17, 2014