PLANNING AND LEADERSHIP FOR A BETTER WORLD
PLANNING AND LEADERSHIP FOR A BETTER WORLD A new appliance that analyzes up to petabytes of consumer sales data and online shopping trends is designed to help retailers gain actionable insight on buying patterns.
Introduced yesterday, the IBM Netezza Customer Intelligence Appliance lets retailers run complex, real-time analytics in a matter of seconds to improve the customer experience, shift marketing campaigns on the fly and boost sales.
The need for such capabilities has to do with the growing importance of mobile technology and social networks when people make decisions about buying a product or service. In today's marketplace, consumers are increasingly using information from these sources to make competitive purchases on the fly. In fact, 70 percent of a customer's first interaction with a product or service takes place online, according to IBM.
This is placing more importance on the digital consumer experience and has created a hyper-competitive marketplace for retailers. As a result, retailers need to understand their customers' interactions with the company from initial browsing for information through to the purchase. And most critically, this understanding has to come from analyzing this information on all channels (Website, social networks, mobile and in-store shopping) in order to be more competitive. The IBM appliance uses analytics to turn this customer data into actionable insight, revealing their needs and wants, and driving smarter decision-making across a retailer's organization.
The appliance is intended to provide retailers with insight on the fly to better predict and target products and promotions, as well as improve store design and pricing. The IBM Netezza appliance is an optimized system based on IBM BladeCenter technology that can analyze petabytes of data.
In yesterday's announcement, IBM noted the use of the product by Bass Pro Shops. "IBM analytics allowed us to quickly get information across our multiple channels and lines of business in one place to deliver meaningful analytics that drive top line and bottom line results," said Leslie Weber, chief information officer at Bass Pro Shops. "We can now create and deliver more targeted promotions, circulars and catalogs to create a better customer shopping experience."
Using the new appliance, retail clients can now also expand their predictive analytics capabilities with SPSS Predictive Analytics, allowing them to go deeper in customer segmentation and business analytics.
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