leveraging the power of data
DESCRIPTION
In today’s digital world, it seems that the connected consumer wields all the power. But retailers hold the power of data — social, local, mobile, POS, CRM. It all adds up to actionable insight. In this session led by Simon Thompson, Director, Commercial Solutions at Esri, find out how to make sense of it all, by: · Leveraging your data to shift the balance of power; · Creating a meaning context for big data; · Extracting the value of your social, location-based, and mobile data; and . Implementing a system that adds value to your organization.TRANSCRIPT
Leveraging The Power Of Data
Presented by Session sponsored by
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About CCS 2013
ü 9 Webinars, 4 Days
ü Sessions covering Mobile,
Social, Store Ops,
X-Channel, and more
ü Featuring industry
analysts and consultants
ü Free for Retail executives
www.retailtouchpoints.com/connected-consumer-2013
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About Retail TouchPoints
ü Launched in 2007
ü More than 25,000 subscribers
ü Provide executives with relevant,
insightful content
ü Free Resources such as White Papers,
E-book, Webinars, Research and
Podcasts
www.RetailTouchPoints.com
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BrightTALK
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Today’s Panelists
Simon Thompson Director, Commercial Solutions ESRI
MODERATOR
Alicia Fiorletta Associate Editor Retail TouchPoints
Leveraging The Power Of Data
Simon Thompson Director, Commercial Solutions
Internet is everywhere
Internet is everything
Rethink everything
100billion SmartPhone Apps
80+ % of all transactions embed a location
Mobile Devices
Sensors / Instrumentation
Location Aware
Big Data
Social / Sharing / Search
No Location =
Analytics Blind Spot
Business Analytics
Location Analytics
spreadsheets web services
business systems
big data collections
images / video
sensor networks social media
analytics
Integrating information from many sources
analyzed based on location
collaboration
decision-making
Accessible
Empowering
Combines different data sources and types • Social & Behavioral • Market Conditions • Competition • Past, Present & Future
Provides insight Improves engagement Drives progress
Location: A New Lens
Shoe Tweets & Young Women
#luvshoes
SOCIAL & WEB ANALYTICS
LIVE DATA FEEDS
ADVANCED ANALYTICS
What’s the social sentiment for my brand or products
How do I optimize my store inventory based on weather & trends
How do I better predict demand and price?
A New Set of Questions
“Being locally relevant has always been the core of success in retailing, going back 100 years to the town general store whose owners knew what their customers wanted, liked, and would like to try. Big Data/Social is like the ultimate customization vehicle, giving us back the local relevance we had lost in trying to get scale and lower cost. It makes that era of 100 years ago really possible again.”
Walmart CMO Stephen Quinn
A New Set of Answers
Analytics Lifecycle
i
Store Characteristics Infrastructure Models Customer Interaction
Competitive Sites Trade Area Analysis POS/Loyalty Data Marketing Activity
Combine
Demographics
Segmentation Pyschographics Retail Expenditure Market Potential Data Promotion Response Brand Affinity/Sentiment
Enrich
Inform
WHO ARE THEY? • Understand who will shop at your locations • Understand their demographics WHAT DO THEY DO? • Understand their lifestyle behaviors • Target products that appeal to them
Take Action Customers
WHY DO THEY BUY? • Understand why they purchase • Target the core behaviors of purchase WHAT DO THEY BUY? • Understand what they consume • Promote & feature what they will buy
Take Action Affinity
WHY ARE THEY HERE? • Understand where they are from • Target their origin or others like them WHAT DO THEY WANT? • Understand why they come and how they consume • Align with their desired experience
Take Action Activity
Monitor - Classic Drivetime
0% 5% 10% 15% 20% 25% 30% 35%
Senior Sun Seekers
The Elders
Industrious Urban Fringe
Social Security Set
Rooted Rural
0% 5% 10% 15% 20% 25% 30% 35% 40%
Enterprising Professionals
Wealthy Seaboard Suburbs
In Style
City Lights
Suburban Splendor
0% 5% 10% 15% 20% 25%
In Style
Up & Coming Families
Young & Restless
Exurbanites
Metropolitans
0% 5% 10% 15% 20% 25% 30%
Wealthy Seaboard
Connoisseurs
Pleasant-Ville
Enterprising Professionals
City Light
Store Location #2
Store Location #3 Store Location #4
% of households by lifestyle segment U.S. overall
Location
Store Location #1
affluent lifestyle
young, educated
single working professionals
retired couples
urbane lifestyle
Monitor - Establish Baseline
10 Minute Drivetime
• Enrich any place with insight § Who is there and where they come from
• Map origins and destinations • Understand interactions by place • Analyze consumer characteristics
Understand the “Wheres”
Every phone has a home, a favorite place, frequent places, a history of its own
Pattern Analysis
Tim
e of
day
Day of week / month / year
Understand Where and Why
Calculate “Digished” Origin of visitors by density
Variation by Time of Day In
flow
Out
flow
Customer Analytics
Shelf & Store Layout Targeted Promotions Advertising analysis Assisted Selling
Loss Prevention & Fraud detection
Workforce Management
Weather/Sales forecasting
Sales & Inventory Forecasting
Social Media Analytics
Churn analysis
A/B Testing IT infrastructure optimization Price Optimization
Decide - Apply Knowledge
Location Analysis and Business Need
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Q&A
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Q&A // Panelists
Simon Thompson Director, Commercial Solutions ESRI
MODERATOR
Alicia Fiorletta Associate Editor Retail TouchPoints
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The RFID Tipping Point Tomorrow, 12 PM ET / 9 AM PT
Thank You For Joining Us
www.retailtouchpoints.com/connected-consumer-2013
The next Connected Consumer Series session…