Executive Briefings

Retailers Know Some of Their Collected Data Is Useless - But Which Part Is That?

Retailers are in the midst of a data land grab. They are trying to collect all of the consumer data they can possibly get their hands on. Why? Because they're hoping that some of it will prove to be valuable.

Retailers Know Some of Their Collected Data Is Useless – But Which Part Is That?

The problem is similar to the oft-quoted adage "I know that half my advertising is wasted. I just don't know which half." Retailers know that some of their customer data is completely useless. They just don’t know which parts. And the sad part is, it’s probably more than half.

However, for all of retailers' current focus on collecting consumer data, there are several trends in play in retail today that suggest the race should not be about collecting consumer data, it should be about figuring out – and rapidly discarding – consumer data that has no value, in favor of focusing on consumer data that actually has an impact on the business. In other words, it's not about who has the most consumer data, it'll rapidly be all about who can use the right data to drive the biggest business results.

Read Full Article

The problem is similar to the oft-quoted adage "I know that half my advertising is wasted. I just don't know which half." Retailers know that some of their customer data is completely useless. They just don’t know which parts. And the sad part is, it’s probably more than half.

However, for all of retailers' current focus on collecting consumer data, there are several trends in play in retail today that suggest the race should not be about collecting consumer data, it should be about figuring out – and rapidly discarding – consumer data that has no value, in favor of focusing on consumer data that actually has an impact on the business. In other words, it's not about who has the most consumer data, it'll rapidly be all about who can use the right data to drive the biggest business results.

Read Full Article

Retailers Know Some of Their Collected Data Is Useless – But Which Part Is That?