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Monday, February 20, 2012

Tailoring Analytical Insights at the Point of Decision

DemandTec is now an IBM Company, but I am continuing to make my way through their solution briefs for retail.  This week I took a look at one that I had not reviewed before, their brief on shopper insights.  Shopper insights were a particularly important piece of our laboratory work.  Constructing specific experiments to understand the actual behavior of a shopper in a particular context.  How might they be influenced by store design,  packaging and technology meant to influence their consideration and engagement with the retail environment?

As the article suggests, each shopper is unique.  '.. in terms of their value to the retailer and their response to merchandising and marketing activities ... '.      My own background used principles of modeling and statistics, applied to what is now called business analytics ... to create models of the consumer and their environment, based on the data gathered from these experiments.

They show a number of dashboards as part of their Shopper Insight Center that are designed to answer specific questions about  key retail processes.  This is exactly what we were thinking of producing in the lab environment.    As in any business analytics solution the problem is to connect the data gathering step with the specific process or workflow of the system you are interested in.  A set of simple dashboards is a good place to start. 

A set of dashboards, as the report suggests, can then be tailored to specific questions you are interested in exploring about the adjustment of shopper engagment in the retail environment.  I had seen similar things done to great advantage in Casino environment.  Once the simple dashboard environments are constructed, the data can then be tailored to address more in-depth analytical interaction with the data. Leading to precisely tailored analytical insights for any context.

Read the rest of the brief at the link above.

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