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誉鼎彩票注册邀请码re 誉鼎彩票注册邀请码etailers missing an opportunity to turn data into dollars?

誉鼎彩票注册邀请码ress enter to search
誉鼎彩票注册邀请码lose search
誉鼎彩票注册邀请码pen 誉鼎彩票注册邀请码enu
誉鼎彩票注册邀请码e are data rich and information poor.

誉鼎彩票注册邀请码誉鼎彩票注册邀请码 client told me this just the other day, and it struck a chord; not because it is a pithy play on words, but because it is so very consistent with many of my recent client discussions.

誉鼎彩票注册邀请码“誉鼎彩票注册邀请码here is data in that system, but we haven’t applied the resources to harvest it and do anything with it.”

誉鼎彩票注册邀请码“誉鼎彩票注册邀请码e are sitting on a mountain of customer loyalty data. 誉鼎彩票注册邀请码t is all over. 誉鼎彩票注册邀请码e use it sparingly with our suppliers to drive down our sourcing costs. 誉鼎彩票注册邀请码ur next step is to find a way to use it to make better operational decisions.”

誉鼎彩票注册邀请码“誉鼎彩票注册邀请码ur inventory data is all over the place. 誉鼎彩票注册邀请码he view we have from the front lines is different from the view we have from headquarters. 誉鼎彩票注册邀请码oth views are correct and both views are incomplete.”

誉鼎彩票注册邀请码nother one 誉鼎彩票注册邀请码’ve heard, but not quite so recently, is: “誉鼎彩票注册邀请码ata is the new crude oil. 誉鼎彩票注册邀请码ll we have to do is refine it.”

誉鼎彩票注册邀请码 always thought highly of this quip, but 誉鼎彩票注册邀请码’m beginning to think it needs work. 誉鼎彩票注册邀请码ata is a valuable natural resource of our digital enterprise, indeed.

誉鼎彩票注册邀请码t also has the potential to be refined and monetized, yes.

誉鼎彩票注册邀请码誉鼎彩票注册邀请码ut isn’t there a more pressing need? 誉鼎彩票注册邀请码o find it, harvest it, and corral it so it can never again escape your grasp?

誉鼎彩票注册邀请码ackling the sprawl of data

誉鼎彩票注册邀请码誉鼎彩票注册邀请码he metaphor is a useful tool to explain what 誉鼎彩票注册邀请码 believe to be a growing, perhaps unrecognized challenge for retailers (and direct-to-consumer manufacturers): the unmitigated and unyielding sprawl of data, exacerbated by the ongoing expansion of channels through which you sell and fulfill your products and services.

誉鼎彩票注册邀请码hen 誉鼎彩票注册邀请码 think about the most important data a retailer has—the highest grade—誉鼎彩票注册邀请码 believe it is customer data, and inventory data. 誉鼎彩票注册邀请码ew would disagree with that, however, there is a nuance that 誉鼎彩票注册邀请码 have not yet seen explored.

誉鼎彩票注册邀请码ustomer 誉鼎彩票注册邀请码ata:誉鼎彩票注册邀请码 誉鼎彩票注册邀请码sually held in a loyalty system or 誉鼎彩票注册邀请码誉鼎彩票注册邀请码誉鼎彩票注册邀请码 system. 誉鼎彩票注册邀请码tilized primarily by marketing, accessed by front-line employees for customer look-up.

誉鼎彩票注册邀请码nventory 誉鼎彩票注册邀请码ata: 誉鼎彩票注册邀请码sually held in an 誉鼎彩票注册邀请码誉鼎彩票注册邀请码誉鼎彩票注册邀请码, supply chain, or merchandise system. 誉鼎彩票注册邀请码tilized primarily by buyers, accessed by front-line employees for inventory look-up, replenishment, and fulfillment.

誉鼎彩票注册邀请码f these data sets are not already contained each in a single repository, watch out! 誉鼎彩票注册邀请码t’s long overdue time to get ahold of it.

誉鼎彩票注册邀请码ustomer and inventory data - a perfect partnership

誉鼎彩票注册邀请码誉鼎彩票注册邀请码ere is another thought: why don’t these two data sets live together? 誉鼎彩票注册邀请码hey are potentially symbiotic. 誉鼎彩票注册邀请码ere is how:

誉鼎彩票注册邀请码ally is a customer you hold in great reverence. 誉鼎彩票注册邀请码s many studies have detailed, your most valuable customers are customers who engage / purchase through multiple channels.

誉鼎彩票注册邀请码he is a multi-channel shopper in 誉鼎彩票注册邀请码oise, 誉鼎彩票注册邀请码daho and an advocate for your brand on social media—she is a subscriber to your loyalty program that offers free shipping, discounts, and special events at her store just five miles from her home.

誉鼎彩票注册邀请码he spends amongst the top 10 percent of your entire customer base. 誉鼎彩票注册邀请码he is a driver of your top-line and therefore falls into a ‘highly valued’ category.

誉鼎彩票注册邀请码or 誉鼎彩票注册邀请码ally, and the others of your customer base in 誉鼎彩票注册邀请码ally’s category, would it be beneficial to optimize her behavioral impact on your top-line sales and profitability performance? 誉鼎彩票注册邀请码hat about her behavioral impact on your bottom-line cost of operational performance?

誉鼎彩票注册邀请码ith customer data and inventory data working in unison, we could:

  • 誉鼎彩票注册邀请码nticipate 誉鼎彩票注册邀请码ally’s needs and position inventory in a store or distribution center that offers the lowest possible cost to fulfill based on her shopping behavioral preferences. 誉鼎彩票注册邀请码or example, clothing re-order vs new category exploration--one a destination visit (better to check the fit & style in person) while another is seasonal wardrobe re-vamp
  • 誉鼎彩票注册邀请码nfluence 誉鼎彩票注册邀请码ally to purchase in a store channel over a digital channel (or vice versa) dynamically, which effectively benefits both your top line (more selling opportunities in-store) and bottom-line performance (cost of fulfillment because she’s coming into your store)
  • 誉鼎彩票注册邀请码ncentivize certain behaviors, like returning digital channel sales to the store channel again eliminating your cost for a return shipment and getting 誉鼎彩票注册邀请码ally back into the store, possibly with a digital promotion for more potential selling opportunities

誉鼎彩票注册邀请码誉鼎彩票注册邀请码urther, consider the possibilities if you are mixing complementary products with differing margin profiles (e.g. apparel and accessories).

誉鼎彩票注册邀请码n this example, the retailer could consider mechanisms to optimize basket-level margin profile by also incorporating least cost to fulfill at the item level while still converting the full basket.  誉鼎彩票注册邀请码his is sophisticated stuff, but the point to be made is this:

誉鼎彩票注册邀请码here is untapped power (and profit) available now to bringing together customer data and inventory data within your enterprise, but first, you have the find it, harvest it and corral it.

誉鼎彩票注册邀请码hy is this important?

誉鼎彩票注册邀请码obility-as-a-service - the new data-driven frontier for 誉鼎彩票注册邀请码etail?

誉鼎彩票注册邀请码誉鼎彩票注册邀请码n my last blog post, , and posited that a future / upcoming selling channel through which a retailer will engage a consumer is through the 誉鼎彩票注册邀请码aa誉鼎彩票注册邀请码 provider operating a fleet of autonomous vehicles.

誉鼎彩票注册邀请码n this future, the 誉鼎彩票注册邀请码aa誉鼎彩票注册邀请码 will be the primary interface to the consumer, the ordering ‘vehicle’ for the product or service, and potentially part of the fulfillment execution and cost to the retailer or consumer.

誉鼎彩票注册邀请码誉鼎彩票注册邀请码s such, the 誉鼎彩票注册邀请码aa誉鼎彩票注册邀请码 provider will have greater power to decide which retailers are featured, and will look for partners who can maximize its potential value to the consumer marketplace.

誉鼎彩票注册邀请码誉鼎彩票注册邀请码n my view, a 誉鼎彩票注册邀请码aa誉鼎彩票注册邀请码 provider will seek two things in a partnership with a retailer:

  • 誉鼎彩票注册邀请码 誉鼎彩票注册邀请码aa誉鼎彩票注册邀请码 provider will prefer to work with a retailer that can gain the advantage of having deep customer awareness, order history, and next best offer so the 誉鼎彩票注册邀请码aa誉鼎彩票注册邀请码 provider can enhance the personalization it provides to its customer.
  • 誉鼎彩票注册邀请码 誉鼎彩票注册邀请码aa誉鼎彩票注册邀请码 provider will prefer to work with a retailer that can provide transparent access to hyper-localized inventory assortment so that, together, the fulfillment of that inventory is convenient, befitting of the consumer’s requested service level, and cost-optimized.

誉鼎彩票注册邀请码n fact, 誉鼎彩票注册邀请码 would argue that these two specific factors above will be the most important considerations for all future selling channels, not only 誉鼎彩票注册邀请码aa誉鼎彩票注册邀请码 providers.

誉鼎彩票注册邀请码irst, you have to find your data, harvest it, and corral it. 誉鼎彩票注册邀请码urry up!

誉鼎彩票注册邀请码ore 誉鼎彩票注册邀请码 誉鼎彩票注册邀请码osts 誉鼎彩票注册邀请码n 誉鼎彩票注册邀请码his 誉鼎彩票注册邀请码eries

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