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Analytics Magazine

Tag "marketing"

Cognitive computing a disruptive force, but are CMOs ready?

While marketing and sales professionals increasingly find themselves drowning in data, a new IBM study finds that 64 percent of surveyed CMOs and sales leaders believe their industries will be ready to adopt cognitive technologies in the next three years. However, despite this stated readiness, the study finds that only 24 percent of those surveyed believe they have strategy in place to implement these technologies today.

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How to grow a premium brand without killing its soul

    How to grow a premium brand without killing its soul

Managers of premium brands face a perennial dilemma. How do you grow a premium brand without killing its soul – the unique brand cachet that attracts its core high price paying customers – even as you seek to expand sales to the masses by offering lower prices? In recent years, outlet stores located hours away from glitzy shopping districts, selling off-season and lower tier merchandise at a fraction of regular retail prices, have proliferated and become significant sources of revenues. The conventional wisdom is that relying on revenues from outlet stores can destroy the brand’s cachet over time. But according to a forthcoming study in the INFORMS journal Marketing Science, a leading scholarly marketing journal, outlet stores may actually help improve the brand’s cachet.

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E-commerce platforms should focus on sellers, not buyers

    E-commerce platforms should focus on sellers, not buyers

E-commerce platforms such as Uber and eBay, which link sellers and buyers, face the perennial dilemma of what is more lucrative, supporting the needs of the buyers or the sellers.

The traditional belief has been that it is more important to focus on buyers, who create demand, than on sellers. A forthcoming study in the INFORMS journal Marketing Science, sheds new light on this dilemma with the discovery that sellers are in fact 3.5 times more impactful than buyers in driving growth of e-commerce platforms.

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Gartner: Four forces driving a data-centric future for marketers

The convergence of marketing technology (Martech) and advertising technology (Adtech), event-triggered and real-time marketing techniques, personalization and the use of contextual clues are the four key forces that point to a data-centric future for marketers, according to a recent report from Gartner.

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Study: Consumers buy close to what they first searched online

    Study: Consumers buy close to what they first searched online

Given the ease of online search, consumers can explore and discover hundreds of available items in any category. Retailers and advertisers are keen to influence the search and final purchase through better product recommendations and targeted advertising. A forthcoming article in the INFORMS journal Marketing Science studies online search and purchase behavior of consumers in the digital camera category and finds that even though consumers may search for extended periods of time, what they purchase tends to be remarkably close to items they searched and found in their very first search.

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Democratization of analytics: New frontier of data economy

    Democratization of analytics: New frontier of data economy

Analytics influence every aspect of our existence, from the way we think and behave to how we work and do business. Every second, millions of records are generated by organizations, on social media and in the consumer space, leading to a humungous explosion of data of at least 2.5 quintillion bytes [1] produced every day. By the year 2020 we are expected to see a 4,300 percent increase in the annual data generation [2]. Google alone processes 3.5 billion searches per day and houses 10 exabytes of data.

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Marketing Metrics: Leveraging predictive analytics to estimate customer lifetime value

    Marketing Metrics: Leveraging predictive analytics to estimate customer lifetime value

Customer lifetime value (CLV) is not a new tool for marketers. Its application has been used for decades to understand a customer’s financial value.

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Big data in marketing analytics

    Big data in marketing analytics

November/December 2015 By Mousumi Ghosh Big data is the biggest game-changing opportunity and paradigm shift for marketing since the invention

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Corporate Profile: Analytics Operations Engineering, Inc.

November/December 2014 Consulting firm applies advanced quantitative methods to solve challenging operations problems. By Mitchell Burman and Lauren Berk As

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Predictive Analytics: TV ads, Wanamaker’s dilemma & analytics

John Wanamaker, the father of modern advertising, famously stated in the early 20th century, “I know that half of my advertising dollars are wasted … I just don’t know which half.” Unfortunately, as marketing, advertising and media move at warp speed, the dilemma of this old adage has only gotten worse for even the most sophisticated advertisers.

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Headlines

Finalists for 2018 Syngenta Crop Challenge announced

Syngenta and the Analytics Society of INFORMS this week announced the finalists for the 2018 Syngenta Crop Challenge in Analytics. Now in its third year, the competition aims to address the challenge of achieving global food security by fostering cross-industry collaboration between agriculture and advanced analytics experts. Read more →

International Conference to spotlight O.R., analytics and AI

The 2018 INFORMS International Conference will be held in the world-class International Convention Center (TICC) and the Grand Hyatt Taipei in beautiful Taipei City, Taiwan, on June 17-20. The conference theme is “A Better World Through Operations Research, Analytics and Artificial Intelligence.” The conference offers excellent opportunities to learn about the emerging O.R. and A.I. technologies and applications from more than 40 invited, sponsored and contributed clusters featuring more than 600 talks. Read more →

How math education can catch up to the 21st century

Big data analytics is increasingly becoming a trending practice that society is adopting, and Daniel Kunin, a scholar at Stanford University and the creator of the online platform, Seeing Theory, is using creative and innovative ways to teach statistics and probability relevant to a changing world. In a recent interview with CMRubinWorld, Kunin discusses math education today and how he believes it can be improved in order to both foster curiosity and be more relevant now and going forward. Read more →

UPCOMING ANALYTICS EVENTS

INFORMS-SPONSORED EVENTS

2018 INFORMS Conference on Business Analytics and Operations Research
April 15-17, 2018, Baltimore

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