IDC PlanScape: Retail Customer Analytics and Insights

IDC PlanScape Figure

• Figure: IDC PlanScape: Executive Summary of Retail Customer Analytics and Insights

Executive Summary

Why Is Customer Analytics and Insights Important?

• Figure: Top Retailer Business Objectives

• Table: Top Executives Advocate for the Customer

• Retail Decisions for Customer Experience Need Customer Understanding

• Figure: Customer Understanding Influences Customer Decisions

• Defining Corporate Strategy

• Optimizing Retail Operations

• Optimizing Retail Marketing and Sales

• Customer Analytics and Insights Establishes Customer Understanding

• Figure: Benefits Achieved from Customer Analytics

What Is Customer Analytics and Insight?

• Figure: Customer Inputs to Decision Making (Price Setting)

• Figure: Application of Price Setting for Light Beer

• Table: Retail Customer Analytics and Data Sources

Who Are the Key Stakeholders?

• Figure: Customer Analytics Executives

• Figure: Decision Makers for Customer Experience

• Chief Executive Officer

• Chief Financial Officer

• Customer Analytics Leader

• Other Key Stakeholders

How Can My Organization Take Advantage of Customer Analytics and Insights?

• Establish a Data-Driven CA&I Practice

• Embed CA&I into Daily Workflows

• Culture Change

• Leadership Support

• Bring Merchandising and Operations into CA&I Decision Making

• Hire Data Experts and Scientists

• Assign a Leader for Customer Analytics

• Enable Data Support Teams to Collect, Prepare, Analyze, and Integrate Customer Analytics

Advice for Technology Buyers

• Assess Your Current Tech

• Think Holistically

• Prioritize Customer Technology

• Collaborate on Data Gaps

• Decouple Data Analytics and Data Sources

• Everyone Should Be Able to Access the Data

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