DXC’s Consumer Focused Analytics solution helps retailers analyze consumer data and optimize both consumer and product decision-making.
Retailers have become not only consumers of analytical insights but purveyors of it. Looking to meet the needs of increasingly demanding customers, many have turned to data and analytics to provide customers with more value – either through better, more relevant products or ancillary, value-added services.
With the emergence of big data, the opportunity for retailers to optimize products and deliver increased customer value in this manner grows even greater. The challenge, however, is that new technologies and new expertise are required to truly take advantage of the latest advances in big data and analytics.
To that end, DXC’s Consumer Focused Analytics solution helps retailers get up to speed quickly, allowing them to more effectively analyze consumer data and optimize both consumer and product decision making. Using analytic insights to foster new consumer-focused programs and events, a retailer can establish the kind of consumer intimacy that drives brand conversion, retention, cross-sell/upsell and presence marketing accuracy.
It can be helpful to break down DXC’s Consumer Focused Analytics offerings into its three component parts:
- Customer Analytics: Deliver better products and services by deriving real insights from the analysis of customer segments; response to promotions and marketing campaigns; and product/service correlation analysis. Maximize cross-sell opportunities and increase market share with predictive capabilities dealing with customer profitability and longevity of interest.
- 360-Degree Customer View: Establish an aggregated repository of customer information across the enterprise and, in doing so, enable the acquisition, monetization, distribution, operational valuation and analytic execution of customer data across every channel of commerce and all customer touchpoints.
- IoT Analytics: Leverage improved customer pattern recognition via mobility and Internet of Things (IoT) technology to provide a platform for intelligent engagement. Enable a richer customer experience, including point-of-presence marketing, interactive shopping recommendations, social associate help, mobile coupon push, and special offers based on a customer’s profile.
Individually or taken as a while, these components can help any retailer improve its analytical capabilities. Quite often though, it isn’t a question of whether improved data and analytics can help the enterprise, but of how the enterprise can get started. DXC suggests three ways to become more data centric:
- 30/60/90 Day Data Scientist Engagement: With a 30-day window, DXC can produce value-added analytics for your enterprise, which can then be built upon to inform decision making going forward and, ultimately, used to form the basis of a big data strategy that includes the monetization of information.
- Analytics-as-a-Service Engagement: To prove out your strategy before making a big investment, leverage DXC’s platform-orchestration model to complete a utility-based framework quickly and at low cost.
- Big Data Platform Innovation Consulting: Talk to DXC’s big data experts to determine how to best transform existing data-management platforms as well as data life-cycle management functions, processes and investments. Further leverage their expertise to plan how to successfully adopt and integrate new big data technologies to create an effective information delivery platform.
A full 85 percent of consumers recently surveyed said they’re more likely buy when they receive personalized deals, coupons and exclusives. Another 64 percent say that the targeted, relevant recommendation of products and services makes them more likely to make a purchase. Clearly, consumers are clamoring for the next generation of retail marketing transformation.
And that transformation will be fueled by each individual retailer’s capacity to consume and analyze better, larger and more complex sets of data. Some will find increased levels of success, and others will be left behind.