IBM Commerce Blog – Everyone is beginning to recognize the power of analytics, whether it is predictive, cognitive or a combination of both. All types of businesses are looking for ways to understand customers and improve results by using large amounts of data and new tools.
This is especially true in the retail industry, where companies interact with many customers over a number of different channels. Retailers usually have very large volumes of transactional data, many physical locations, lots of products and many different types of customers and behaviors.
So it’s natural to think “Let’s take all of our data and pump it through these new tools and we’ll learn who is buying what and how we can sell more stuff to them.” Sounds good, right? Not so fast.
Sometimes, in order to act on what the data tells, it might be necessary to do more than just read the numbers. It may be that you need to make operational changes to the business in order to facilitate the improvements you desire. For example, one retailer discovered that new mothers shopped on their web site—and in their stores—in a fairly unique pattern and decided to alter the way products were grouped together on their site to accommodate these customers. And they changed the makeup of the corporate buying team to match the new product mix.
This blog post was written by Todd Werden, vice president, Boston Retail Partners.
Read full blog post: Optimize Analytics Results by Adapting Business Processes