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Smarter Commerce | September 20, 2014

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Analytics Delivers Customer Insight IQ

Analytics Delivers Customer Insight IQ
Janet Sifers

Thanks to Jeff Kaplan from THINKstrategies and Riddhish Trivedi from fabric.com, we had a great webinar last week on “Making Your Business Smarter with Cloud-based Analytics”. This is a topic that applies across many industries.

We focused on three elements:

  1. How businesses are implementing SaaS analytic solutions for the most impact
  2. The different ways analytics provides value across the enterprise
  3. How choosing SaaS can accelerate time to value

Riddhish explained the value of IBM Digital Analytics to them as an online retailer but the story could apply to other marketers as well. Fabric.com now has visibility into product, visitor and customer behavior on the site which helps them make better decisions about their campaigns and offers. Riddhish described how they monitor and analyze performance for trends, retention and acquisition for the site. In addition, they are able to understand how each channel is performing.

We also talked about the other clients using analytics in other areas of their business such as procurement and merchandising. Any business can benefit from implementing cloud-based strategic sourcing and spend analysis which can turn procurement into a competitive advantage. For retailers and consumer product companies, merchandising in the cloud delivers strong analytics from point-of-sale data allowing them to adjust prices and promotions in real-time.

As we look across any enterprise, it’s clear that many departments can benefit from implementing cloud-based analytics. The data explosion that’s driven by the growth of social/mobile/cloud affects every department.

  • Sales teams need the right compensation models and to understand where to focus for the best results
  • Procurement teams need to manage spend and choose the right suppliers
  • Supply Chain groups need to understand where key components are to ensure shelves are filled and production is on schedule
  • Marketing needs to deliver the right campaigns to the right customers

Then, the third element of our discussion was on why a business would choose a SaaS-based analytics solution. Riddhish covered benefits such as agility, lower infrastructure risk and cost and efficiency for upgrades. Fundamentally, SaaS analytics are customer-centric – businesses can understand customer needs more rapidly and change direction more easily to respond to market changes.

Thanks again to our moderator and guest speaker!

 

If you’d like to catch our webinar series, visit one of these links:

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