Mobile data is huge because of the rise in useage, leaving CIOs with a wealth of information they can use to help better understand customers and increase sales. Here are some of the benefits of predictive analytics taken from mobile data.
The top news stories for Sept. 17, 2014.
Stitch Labs, an inventory and multichannel selling platform for retailers and wholesalers, revealed findings that indicate a potential 10 percent increase in revenue when companies provide free shipping to customers.
Big data is helping retailers to better stock their stores, using state apparel size averages, rather than the national average, to dictate inventory.
Two statistics tell a sad (or scary) tale for retail stores. Foot traffic was down 13 percent this holiday season and online spending rose 10 percent, according to sources.
Retailing has operated in pretty much the same way since shopkeepers figured out how to leverage in-store credit, point of purchase displays, endcaps, and loss leaders. But now big data is pulverizing the traditional retail model, particularly in big box stores. Competitors who don't use big data are left to deal with the dust and rubble as best they can.
Gamification is about a lot of things but it's not about games. Essentially, it is an innovative and interactive way to engage customers and drive their behaviors which is why it is the darling of retail. But when it's married to big data, gamification gets really interesting.
Retailers continue to be aggressive about data analytics. This week, Walmart--actually its Silicon Valley-based "innovation lab" @WalmartLabs--announced that it is acquiring predictive analytics software vendor Inkiru, as reported on TechCrunch.
The shortest route to big data failure: Fascination with the tools instead of the business problem to be solved.
Startup Loop's app enables enterprises to conduct immediate surveys using an iPad, according to a report by TechCrunch.