You live in an era where you need to prioritize building offerings around individual customers.Read More
Do you know what one of your customers bought from you last month? Can you predict what they’re going to buy from you this month? Are you able to call them by their first name?
If not, then you could be missing out on additional revenue, since "93% of companies see an uplift in conversion rates from personalization." Your customers expect a personalized and relevant experience when they interact with you. Whether you’re able to deliver that depends on how well you know them. And, how well you know your customers relies on your data management.
The National Retail Foundation’s annual Big Show conference in New York is always a great opportunity to assess the state of the industry, see what new trends and technologies are coming around the bend and, most importantly, hear what’s on the mind of retailers as they continue to adapt to a rapidly changing consumer environment. The consumers imagination and expectation is that all systems and processes are connected, but a reality check shows that business are catching up with meeting those expectations.Read More
Fourth quarter holiday shopping results have always dictated retail financial success. While the marketing channels, tactics and consumer preferences have changed over the years, the fact that many retailers reap as much as half their annual revenue between the Thanksgiving and Christmas holidays has remained constant.Read More
Recently, I arranged for a parcel to be shipped internationally. The online ordering and payment process was simple, and my package would be collected from me and sent the next day; in time for the event it was intended. I was pleased.Read More
2017 is soon coming to an end, which means that the General Data Protection Regulation (GDPR) will arrive very shortly. This leaves companies with just a few months to get their final GDPR preparations in place to avoid economic sanctions and public scandal. But how far are organizations really in their preparations? Will they be ready? And what about the non-European companies? How much will they all invest in the new personal data regulation and what are their biggest challenges? Will consumers even use their new rights?Read More
Although it’s been almost 28 years, since Bill Gates said, “Banking is necessary. Banks are not” (1990), they are more relevant than ever. The banking industry has in a lot of ways already felt the shaking in its foundation during some years, as innovative digital financial services providers – the so-called FinTechs - have entered the market and now to a certain degree compete with traditional brick and mortar banks. (Learn more about it in the blog post: Traditional banking vs new financial disrupters: Who’ll win the data battle?)Read More
Historically, customer data has been often difficult to acquire, clean and, most of all, interpret. With the advent of the Internet of Things (IoT) there has been a sharp increase in both the availability of customer data as well as how much information manufacturers are able to collect from their product’s everyday use. This year alone, Gartner estimates that 8.4 billion connected "things" are already in use.Read More
My dear bank,
You and I have had a relationship for so many years now. It has always been a relationship based on give-and-take: You allowed me credit, I paid interest, you stored my money. Our relation did not excite me, nor did your brand make me particularly proud as a customer. But after all, I felt in good hands and – more importantly – I did not spend many thoughts on us. With you I felt safe and that’s why I did not look for another partner.
But now, all of that has changed. And it all happened because I got married 4 years ago.Read More
What exactly is party data? I get asked that question surprisingly often and have found that many - even in the Master Data Management (MDM) space - are not completely familiar with the term "party". I am of course not referring to the good times had with friends but rather the way in which we can describe the master data domain that predominantly looks after individuals and organisations. In this blog post, I will try to clarify exactly what party data is and why it's important to master it.Read More