How data driven decision-making helps restaurants buck the trend

A couple of blogs posts ago we had talked of how data was fast becoming a very critical component in a restaurant's kitchen. Bloomberg Gadfly columnist Shelly Banjo, who covers retail and consumer goods, recently wrote a column on how almost all the big restaurant chains in the United States had reported a drop in sales in Q2, 2016, hinting at an industry downturn. While we are not getting into the

Pokémon GO – a new opportunity for marketers

The world of gaming has not been the same since July 6, the day Pokémon GO was launched. Within days of its launch, it started setting new records. Here’s one  – within a week of its US launch, it had over 65 million registered users. Besides gamers,marketers, advertisers and data analysts are delighted with Pokémon GO, for it has opened up new possibilities for them. AR, has suddenly gone mainstream with Pokémon

Data is most important item on a restaurant menu today

Which is the single most important ingredient in today’s restaurant business? It’s data. Surprised? Don’t be. In the face of extreme competition, restaurants, especially quick service restaurants (QSR) (where time is of essence) are increasingly turning to data analytics to reduce costs, increase revenue, and pump up profits. It’s an industry where time is money, where margins are small but volumes, large. In today’s digital world, electronic transactions have opened the sluicegates

5 tips to start your customer journey mapping

Definition: A customer’s journey is a map that tracks the buyer’s experience. The starter’s block is the point of first contact with the seller, the finish line is represented by the purchase order. The journey traces the process of engagement. Contrary to popular belief, however, customer mapping does not end with the client placing an order. It’s also about long-term relationship, trying to map the behavior of a customer after he

Still not implemented Multi-touch Attribution model? Do it now

So does your Enterprise need a multi-channel attribution strategy? Without doubt. We could extend a dozen reasons but here are two of them – the online and digital worlds have made a customer’s journey complex, different channels such as social media, for example, affect buying decisions in different ways; and marketers risk reporting misleading ‘Return on Investment’ (RoI) if they fail to implement a multi-touch attribution plan. Multi-touch attribution is to

How analytics is re-defining Financial Planning & Analysis

Today’s Chief Financial Officers (CFOs) find themselves under increasing pressure to execute Financial Planning and Analysis (FP&A) processes faster in order to discover insights that would augment the company’s future results. Many finance departments find themselves tasked with faster closing times, real-time consolidation and elimination of manual tasks, in the interest of overall business agility. While financial planning is essentially the process of drawing up a budget based on expenses and

Behavioral rank in lead scoring helps get not more but quality leads

At the start of the year, many analysts had predicted that 2016 would see lead scoring - the process of identifying and grading a prospective customer’s intent - come of age. This group bet on the increasing reliance on behavior score in the overall lead scoring business. Such type of recording involves the use of two sets of data, each offering its own insights. The demographic count, a child of the

Marketers: Shed desktop mindset, Mobile is THE tool of customer acquisition

Earlier this week, PayPal’s Director of Mobile Commerce Rob Harper told the audience at a retail conference that choosing not to put mobile strategy as top priority was exercising the choice to 'ignore' customer needs. Rob had hit the nail on its head. Explaining the dichotomy that a modern-day retailer faced, while speaking at the Retail Business Technology Expo, Rob claimed that despite high mobile traffic, many retailers were amazingly still

Is combining Marketing Mix Modeling with Attribution Modeling the way forward?

For decades, traditional marketers faced a challenge while allotting their marketing budgets among various marketing channels. Today, with the advent of digital modes of communication such as television and the Internet, as well as computing devices of all kind, that job’s got even more taxing. “Effective allocation” is the keyword here. Modern-day marketers have to distribute their marketing budgets between these “channels” in a way to maximize the return on investment

Why Adaptive Personalization is getting critical for business

Way back in 2010, one of the conclusions of the IBM ‘Global CEO Study’ was the acknowledgement by 88% of CEOs that their priority was to get their businesses closer to customers in the next five years. Yet here we are, at the start of 2016, and it would not be an exaggeration to state that many global businesses are still far from achieving this target. Many companies still find themselves

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