Thinking Small: Bringing the Power of Big Data to the Masses
Why connectcust (1)
1. “BigData” isa buzzwordtoday. Nowwhatisthe conceptof Big Data? It simplymeansadatabase that is
BIG. How big is it? As estimated by the Forbes and many others, nearly 45% of the world population,
whichisnowmore than7 billion,are usingthe internet –that bringsthe numbertonearly3 billion. And
witheverysingle usage these users are creating some data for themselves. And this database is being
addedup everyday,every hour,everyminute andeveneverysecond’sinterval. Thus the data is huge –
or is called BIG DATA.
But is the market being able to use this huge data properly? Data analysis is no new concept – and
whoeverhave alittle experiencewillknow how effective adataanalysiscanbe to the fieldof marketing
as well asmanyother fields.Now just if we think of it – with such a huge data, a proper analytics could
really create remarkable difference – but is that happening? I am afraid the answer is not affirmative.
We still receiveirrelevantandevenannoying promotional offersfromthe vendorsknownand unknown
for the productsI evendonot recognize. We realizethatmyvendor,myretailer or my service provider,
they DO NOT know me – to them I am only a number.
Here comesthe biggestchallenge of Marketing –for all business,including the retailers – to know their
consumers individually. The business of retailing has been spread online for quite a good time now –
retailers are reaching to customer’s doorstep very effectively. And as a byproduct retailers are having
enoughdataabout theirconsumers.Eventhose whoare notyetonline are having their own system in-
store to collect data of their consumers – but still they face the issue of not knowing their consumers
individually. The cause isnothingbutthe sheersize of the data that the users not being able to manage
and utilize.Buteveryretailerknowshow importantthisdataisandwhat effect may it bring to their ROI
if couldbe utilizedtoitsfull extent.Thusmanyof them are looking for the experts who can handle this
and give them results. And there are experts available indeed.
The solutionsprovidedbythe BigData analyticsexperts& service providers are of various types. There
are solutions that would enable a retailer to segmentize its customers in different manners to
understand their needs better. Some other solutions provide an excellent after sales tracking of the
customers to analyze their feedbacks for future references. Some enables a personalized messaging
service while somegivesproduct/promotionrecommendationforcustomersas per their orientation –
and some are master for calculating the CLV of consumers and give an effective business plan for the
future. The effects of such expertise are being experienced by a lot of retailers now and they have
started appreciating the enormous scope of such solutions to their business.
ConnectCust is a new Advanced Analytics solution that comes with these solutions for the retailers.
Nowthe questionis whyanother? What’snew ConnectCustmayofferthatisnot beenofferedalready?
The answerliesinthe tag line of the solution –“Nextgenerationend-to-endMarketing solution driven
by Advanced Analytics and Data Science”. Yes – “end to end” is the missing link in the world of
marketingdata analytics. The solutions provided so far are addressing only to a partial issue while the
mainchallenge remainsforthe retailertobridge upall thisandget the maximum output. This is exactly
what ConnectCust does – an end to end solution to address all the above mentioned and many other
featuresina single platform.Once bridged up the data automatically produces an additional virtue for
the user – Agility.
2. BeingAgile isthe keytowin.The competitionisnevereasywhenthe playersare equippedwithmore or
less same skillset as well as solution armory. Agility is among the few things that distinct a champion
from a top player in the market. So let’s see how ConnectCust could create this agility with its
impeccable solution.Below are the ten causeswhyConnectCustisthe bestavailable retailingsolutionin
the market at the moment –
1. Input Data Flexibility: “Today, we need databases that are polymorphic, a trait that allows
efficient, economic and distinctly different storage for both structured (business) data and
unstructured(content) data.”–says Norman Kutemperor,CEO of Scientel. The huge data available
in all formats and most of them are NOT essentially structured (SQL format). Unlike most of the
retail solution providers, ConnectCust gives the freedom to retailer to provide data in any format,
structured or not and is able to give the output with undeterred efficiency.
2. Segmentation:ConnectCust provide a Dynamic segmentation opportunity for the retailer where
they can chose their own set of parameters with intended upper and lower limits. Presets are
provided as default with total flexibility of Target Setting as intended by the retailer.
3. CLV Calculation: ConnectCust analytics engine automatically produces the Customer Lifetime
Value (CLV) for each individual customer as well as segmented groups to provide foresight for the
future business plans for the retailers.
4. Up sale & Cross Sale: ConnectCust analytics engine provides an excellent Market Basket
recommendation for each individual consumer based on their persona that helps the retailer to
promote up sale and cross sale most effectively.
5. Product Recommendation: While retailer is able to reach a customer individually, it is naturally
expected that they know their customer’s requirement or choice of products. And with
ConnectCust, they do. ConnectCust provides a product recommendation for each individual
customer based on their economic and social status, ethnicity, demography, cultural orientation,
occupation, gender, fashion sensitivity, price sensitivity and many other parameters analyzed by
data scientific approach.
6. Feedback Analysis: In olderdaysthey used to say a sale is closed only when the bill is paid at the
counter. Now it is said that it’s just the opening. Payment of bill ensures a set of data of the
customerthat isto be processedandanalyzedformany future sales. The way a customer response
to a promotion or a new product or some particular behavior or happening could be tracked for
future referencesof the retailer.Thus Response Trackingisone of the mostpowerful toolsprovided
by ConnectCust to empower retailer for the future.
7. Campaign Feeds: Promotionandothercampaignsare run by retailers almost throughout the year
– but it is important for the retailers to compare the effectiveness and outcome of different
promotionsandalsoto modifythemif requiredevenduring a run. This is only possible when there
is an efficient mechanism available to provide a proper feedback and analysis of that feedback.
ConnectCust Campaign Feeds analytics enables the retailer for this.
8. Dynamic Personalization: ConnectCust analytics enables retailer to reach to its consumer
individually – with its brilliant 1:1 Persona tool. Now retailer will know exactly what an individual
3. customer might like and capable to afford, when and where to deliver it, how to approach and
which type of promotion pleases them most – with all minute details.
9. Metrics & Dashboard: While providingall the above,ConnectCust also provides an wide range of
pictorial reportsandmetricsthatenablesthe retailer to know exactly what is going on at any given
pointof time and requiredpredictions and trend analysis and all. These Dashboard reports are not
only a mere reflection of the business but also acts as a ready reckoner and ensures that you deal
only with solid facts and no hobnobs to distract you from your goal.
10. User friendly Interface: ConnectCust gives you all these to operate with complete ease and
ensures that no extended training is required for retailers to enable the usage of ConnectCust
facilitiesintheirStores/Officesandanybodywithalegitimate accesstothe UI can use it efficiently.
Cherryon the icing – retailerneed not compromise to any security protocol in order to access such
easy operation.
Here is a chart of main features provided by different service providers for retailing solutions:
Features
Silver
Pop
Exact
Target
Retail
Next
Certona Custora
Agile
One
Bl
Sh
Market BasketAnalysis
CustomerLifetimeValue(CLV)
DashboardReportCustomization
CampaignTracking& Analysis
Email Campaign
SMS Campaign
AdvancedAnalyticsforSocial Media
Predictive Analytics
1:1 PersonalizedRecommendation
SegmentConversion
Improve resultsanddemonstrate ROI
Dynamic Personalization