By Edward Chenardhttp://www.linkedin.com/in/echenard
Topics Covered Consumers Today How Big Data can Help Bridge the Gap between Consumers and Businesses
Introduction Who am I   Product and Strategy Manager at Best Buy   I manage the team that runs the companies largest   ...
Consumers Today Consumers want to learn and discover products.    Make it easy to find products. Consumers are looking ...
Consumers want to learn anddiscover new products Consumers, especially younger consumers, want to  enjoy the discovery of...
Consumers are looking for ways tomaximize their shopping Experience Consumers don’t have time to go through a long sales ...
Consumers Want Simplicity ofService Don’t make things difficult, if the process is designed  for your benefit and not the...
How Big Data Can Help Improving the way we target customers Improving our ability to address the customer pain  points b...
Big Data Analytics Big data (defined as map-reduce with some sort of algorithm for the logic aspect) is a tool that can h...
Big Data and Personalization With big data, we can take personalization to a level we had not been able to before.   Pro...
Big Data and Information Overload The amount of information people are exposed to everyday is growing.   Companies that ...
Big Data Takeaways Keep it simple, consumers will have more information  overload, if you add to this problem, you make y...
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Big data and the shopping experience

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A short presentation I gave to a group of sales and marketing people on big data. This was very high level.

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Big data and the shopping experience

  1. 1. By Edward Chenardhttp://www.linkedin.com/in/echenard
  2. 2. Topics Covered Consumers Today How Big Data can Help Bridge the Gap between Consumers and Businesses
  3. 3. Introduction Who am I  Product and Strategy Manager at Best Buy  I manage the team that runs the companies largest hadoop cluster.  I manage all customer facing recommendation engines across the entire enterprise.  I create the digital strategies for mobile, tablet, apps, big data, and digital tools  Yes, my days are very busy…
  4. 4. Consumers Today Consumers want to learn and discover products.  Make it easy to find products. Consumers are looking for ways to maximize their shopping experience.  Consumers don’t have time to spend all day looking for a product, they need it now! Consumers want simplicity of services.  Make it easy to get information that is relevant.
  5. 5. Consumers want to learn anddiscover new products Consumers, especially younger consumers, want to enjoy the discovery of products – not be sold to. Price sensitive shoppers love to research before they buy. Lifestyle consumers love to discover what new products fit their own lifestyle.
  6. 6. Consumers are looking for ways tomaximize their shopping Experience Consumers don’t have time to go through a long sales process, so don’t waste their time with 20 qualifying questions when all they need is a simple answer. The amount of time a consumer has to wait to get what they wants, becomes your new brand message in that consumer’s mind, don’t waste their time.
  7. 7. Consumers Want Simplicity ofService Don’t make things difficult, if the process is designed for your benefit and not the customers, then you are going to lose the customer. Simple means as few moving parts for the customer to deal with, give them what they want up front and how they want it. Don’t try to inspire your sales people to inspire customers when all the customer wants is a cable and to be in and out in 5 minutes.
  8. 8. How Big Data Can Help Improving the way we target customers Improving our ability to address the customer pain points better Giving customers the information they want and in the format they want it.
  9. 9. Big Data Analytics Big data (defined as map-reduce with some sort of algorithm for the logic aspect) is a tool that can help address customer wants.  Better information, the more information I have, the more I can tell what customers will want.  The better information I have the better I can serve up information that is relevant and useful to customers.  Information used properly, is the best competitive advantage today.
  10. 10. Big Data and Personalization With big data, we can take personalization to a level we had not been able to before.  Providing consumers with information they way  Providing consumers with information that is actually useful for them, i.e. (help them learn and discover, not sell to them).  Big data helps us collect information from all touch points to provide an integrated channel experience.
  11. 11. Big Data and Information Overload The amount of information people are exposed to everyday is growing.  Companies that can use big data to reduce the amount of clutter for consumers, will win the race to the top.  As consumers have more information overload, they block out more and more, value will be places on companies that get to the point without the fluff.  Big data analytics will become a big part of achieving new service models for consumers.
  12. 12. Big Data Takeaways Keep it simple, consumers will have more information overload, if you add to this problem, you make yourself less useful to consumers. Big data analytics will be a key competitive differentiator. Don’t leave it to IT alone to come up with the ideas in this space. Big data is very much a customer experience issue, not an IT issue.

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