In this blog post I’m going to suggest some ways in which predictive analytics can help retailers weather the economic storm they’re currently facing. The UK’s battered retail sector has been enduring an ongoing perfect storm following the financial crisis of 2007 / 2008. The government would like us to believe that things are much better …
How can predictive analytics help retailers weather the economic storm? Read More »
After basic significance tests, T-tests, Z-tests and so on, key drivers analysis (KDA) is probably the second most popular statistically-based technique in market research. Given an outcome of interest a KDA gives us a measure of the relative importance of a set of attributes (potential drivers).Typical outcomes of interest in research are: Satisfaction – customer, employee etc. Purchase intent – how …
What do your customers care about most? Using key driver analysis to find out. Read More »
Moving beyond RFM analysis to create truly data-driven customer segments RFM stands for recency, frequency, monetary value and is a method for calculating or assessing overall customer value. Its most common use is in direct marketing or database marketing and it is particularly heavily used by retailers and charities. RFM analysis is predicated on the …
Real time advertising is a hot topic right now. Over the last few months I’ve read a growing number of articles about how advertisers will soon be able to target their customers in real-time. Of course real-time advertising is nothing new online, what’s new here is the possibility of being able to do it in …
