You may like nachos, but after a plate of nachos you probably don’t immediately want any more. Your appetite for nachos is satisfied for the time being. If somebody offered you another plate at that time, you’d probably say, “No, thanks; I just had nachos and my appetite for them is satisfied for the time being.” But tomorrow you may have renewed your hunger for nachos. If this same person offered you nachos then, you’d probably say, “My hunger for nachos is renewed; therefore, I accept your offer. Thank you.” Continuing with this example, let’s say you like food other than nachos. Even food that you don’t know too much about…
The analytics world has been using the term “journey” as the new buzz word to describe the forward looking, predictive aspect of what a customer could buy. However, are people really looking at the journey or are they simply looking at the next immediate step in that customer’s path?
Our partner IBM recently published a case study that discusses how we leveraged the IBM InfoSphere Big Insights solution to help us map, personalize and optimize customer journeys for business goals such as loyalty and lifetime value:
Machine learning is a topic most marketing leaders have heard discussed in the boardroom from their CTO or CIO. The ability to […]
The behaviour of an individual can be viewed as a time series of messages received and transactions made. In nearly any problem involving a time series like this there is a tricky problem of dimension reduction.
Imagine we are attempting to understand changing food consumptions tastes over time, perhaps with the goal of encouraging someone to consume a more healthy diet. Well, with 100s of options for each dinner, after a week there are 100,000,000,000,000 possible sequences of meals. It’s easy to see that very quickly you are unlikely to have a large enough sample population to discern much about the sequences in a direct statistical sense!
While retailers across the United States assess the performance of their recent Black Friday and Cyber Monday sales campaigns, marketers in several […]
New data confirms that consumers who first purchase a full-price item are 2.5 times more valuable than those who take advantage of […]
Retail marketing is full of buzz-terms we hear being used at the boardroom table, at conferences, from analysts, and in blogs. Of […]
E-mail is the first area where most marketers turn to when looking to add a more personalized experience with their communications. After […]
When Amazon, the goliath of online retailing, secures prime retail space in the heart of Manhattan across from the Empire State Building, people start talking.
Programs designed to encourage customer loyalty, are certainly not a new concept in retail. The first loyalty program is believed to have […]
When Dr. Greg Leibon, a PhD. Scholar in Mathematics at Dartmouth College and one of the co-founders of Coherent Path, talks about math his […]