How Retailers Can Deliver Personalized Experiences with Pervasive Analytics

December 13, 2018
Jie Wu's picture
Jie
Wu
Director, Solutions Marketing
Jie is the Director, Solutions Marketing at GoodData. As a former analyst and trained mathematician, Jie is passionate about bringing analytic solutions to companies looking to innovate with data. Jie has nearly 10 years of experience in product and solutions marketing, working on solutions such as middleware for Hadoop, Data Quality and Data Governance, real-time analytics platform and NoSQL database management systems. Prior to GoodData, Jie held various marketing roles at IBM, Informatica, and DataStax. Jie holds an MBA from Babson College and MS in Applied Mathematics from the University of Vermont.

 

The holiday season is upon us and it’s the busiest time for retailers. I, like many of you, get bombarded with deals and promotions every day- in the mail, my inbox, web, and mobile feeds.  

 

However, very few deals trigger a purchase; most don’t even pique interest. Why and how does this happen? Because most retailers don’t have good insights about me – who I am, whom I am related to, my social activities, and preferred social outlets - which means they can’t offer me deals that pertain to my interests and needs. They aren’t personalized.     

Insights Change the Retail Game

Good data (no pun intended) and a good analytic solution can change the game for retailers. According to McKinsey, companies of all sizes are striving to realize the return on their analytics investment, but few have been successful. This includes effectively leveraging analytic insights in all areas of the business to drive a personalized, consistent customer experience across all channels and touchpoints.

This is where GoodData can help. We make insights pervasive for enterprises so business users have easy access to insights, but more importantly, they can rely on these insights to deliver better business outcomes.

Empower Front-Line Business Users

As a leader in embedded analytics GoodData is focused on empowering your front-line business users with contextual, relevant, and timely analytic insights. These insights are seamlessly embedded into your existing business processes and applications to drive informed decision-making and business outcomes. For retailers, this means that critical insights are shared with your marketing managers, sales associates, customer service representatives, and billing staff so that they can deliver personalized products and services for an improved customer experience.  

By making insights available for all users, GoodData enables enterprises to scale personalization across the entire organization and its partner network. The impact of such pervasive insights can be widespread. Retail companies are able to see profitable customer acquisition, swift customer onboarding experience, smarter customer experience, enhanced customer loyalty, and greater wallet share.

Fig.1 Example of a Customer Insight Dashboard

For example, imagine you walk into your favorite furniture store to make a return. At the check-out desk, the sales associate offers you personalized greetings because he has all the critical information about you through his web portal. He thanks you for a recent purchase from a different brand under the same parent company because that information is included in your profile exposed to him. With a complete view of your membership status, as well as your interactions with all the brands and social activities, the sales associate is able to provide a personalized customer experience. With the right insights, the sales associate is able to provide a hassle-free return experience, as well as a coupon for a future purchase to make up for the inconvenience the return has caused you right at the point of sale.

Would you want to give more business to this retailer? I would.

Fig. 2. GoodData Enterprise Insights Platform Architecture

Drive Customer Experience Excellence with A Proven Insights Platform

That’s the power of GoodData. GoodData consolidates scattered customer data together to provide you a holistic view of the customers, creates contextual customer insights and metrics against that data, and quickly distributes them to the relevant business users to drive smarter decision-making and guide proper actions. The result is a consistent, personalized experience for customers, regardless of the channel and touch point.

To summarize, retailers can create a more personalized experience by:

  1. Leveraging data to gain a holistic understanding of the customers
  2. Empowering everyone in the organization with actionable insights
  3. Selecting the right insights platform to deliver pervasive insights

I’d like to wish everyone a jolly shopping experience and a wonderful holiday season!

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