Tag Archives: data analytics

Free Webinar: Data Analytics in the Retail Store of the Future

Marketing Analytics & Data Science speaker Dave
Bhattacharjee, VP of Data Analytics for Stanley Black and Decker, was
unfortunately unable to be at the conference last month, but he still wanted to
share his presentation with our community digitally.
In Dave’s upcoming webinar ‘Data
Analytics in the Retail Store of the Future
‘, he will outline the
challenges for brick and mortar retailers and their use of analytics to improve
their business and create the retail store of the future. Brick and mortar
retailers are going through a period of unprecedented change. To remain
competitive, retailers are focused on omni-channel and the use of the retail
store as a competitive advantage for both customer experience and order
fulfillment. The focus for this presentation will be the innovative use of
sensor and video technology, machine learning and the use of blended data to
improve customer lifetime value, marketing analytics, sales lift and margin
optimization.  
Dave will cover topics such as data acquisition and store
instrumentation leveraging the internet of things. He will discuss advances in
video analytics that enable retailers to better understand customer engagement,
experience and behavior. And, he will also discuss the use of blending
unstructured data to enable retailers to better assess promotions and their
impact on sales and margins.
Save your seat for
the webinar on Wednesday, May 31st at 2:00 PM EST: http://bit.ly/2p11Lye
About the Presenter:

Dave Bhattacharjee is the Vice President of Data Analytics
for Stanley Black and Decker. In this role, Dave is responsible for monetizing
Stanley Black and Decker’s data assets. His current projects include analytics
applications for physical security, retail, healthcare, smart factory and
marketing.    
Prior to Stanley Black and Decker, Dave was at Cisco Systems
where as Managing Director, Dave managed and led Cisco’s consulting services
for analytics and big data in the Americas. He has also held leadership
positions at IBM and PriceWaterhouseCoopers where Dave worked with the Fortune
500 on large scale initiatives designed to create business value through data
and technology. He has an MBA from the University of Texas at Austin and a
Bachelors in Computer Science and Engineering from Arizona State University.
  
Cheers,
The Marketing Analytics & Data Science Team

IBM’s James Newswanger on The Power of Twitter Data for Corporate Decision Making

Late last year IBM entered into a partnership with Twitter which their Senior Research Manager, Corporate Social Analytics James Newswanger describes as combining “the best of Twitter with the best of IBM”.  The Research Insighter sat down with Newswanger and asked him for an update on what sort of data and research IBM was working on with Twitter. Here’s a brief excerpt from the video interview, which you can watch in its entirety here.
 
James Newswanger first explained to The Research Insighter what IBM’s partnership with Twitter entails. “They give us full firehose access. We apply IBM’s Deep Insight through Watson computing analysis to help them find more meaning in their data.”
 
The Research Insighter: “What kinds of information are you looking for?”
 
Twitter analysis is “much more than 140 characters”
 
James Newswanger: “Past the 140 character text there are 150 metadata elements that tell you info about the Tweeter. You can find out how many followers the person, organization or in some cases spam has. This is extremely useful in identifying people who are most influential; it’s also used to identify spam.”

Newswanger discusses IBM’s own internal usage of Twitter data

James Newswanger: “In one quarter we get 500K tweets that mention IBM that need to be analyzed. Some of it is spam about products we are no longer making, some if it is robotic churn when people use #IBM in their Tweets to get attention. You have to clean data before you start analysis.”  

With a clean data set it’s easier to determine the story

Newswanger continued: “Once the data set is cleaned, you have to determine what is the purpose of the engagement. If we’re looking to identify influencers, we’ll be paying attention who is followed, who are they following. You also want to identify what keywords are being used in association with your key interest ‘ say it’s IBM for example.”

The Research Insighter: “Is there any other data that you’re looking for?”

James Newswanger: “Location. Knowing where a person is proving to be extremely useful. The amount of posts a person makes. The amount of activity they do, the amount of retweeting a person does indicative of their activity. We look at their description. That’s very interesting when we get into personality analysis.”

Twitter analysis is not just for marketing and brand equity anymore

The Research Insighter: “IBM recently issued an Institute for Business Value report called Beyond Listening. Can you tell us a little about it.”

James Newswanger: “It attempts to take a step forward past text analysis for marketing and brand analysis only. Social business analysis has moved into the fundamental operations of a firm and to some extent the strategy making of a firm. Things like supply chain, HR, every element of a firm now can figure out a way to use social. We give examples of how different companies are using Twitter to unearth a different level of business analysis. That’s proven to be particularly valuable to the C-Suite.”

The Research Insighter: “How would that work? Do you have any examples?”

James Newswanger: “Here are two of the most interesting examples:

Influencer identification. Many people use Twitter analysis to identify who they choose (or who they won’t choose) to be a product endorser. People also use Twitter information to decide who to invite (or not invite) to events as advocates.

Most companies sponsor events where they specifically target some people who are active socially. You see this a lot in fashion. In addition to a traditional magazine editor, you’ll see a whole barrage of bloggers and Twitter folks assigned to the front row because they’ve become important.

Supply chain. The other area that’s particulary interesting is supply chain. Companies are using Twitter to identify where people are, supplying things that are relevant to their inventory. For example, right now, the flu. If people tweet about being sick, colds or ‘where should I run to the store to get a cold medicine’.”

We’re excited to say that James Newswanger will be speaking at The Market Research event, and on a very timely topic: “Town Hall: The State of Election Polling”.

If you’re interested in hearing more from IBM and other technological innovators in the market research industry, don’t miss the world’s leading market research event TMRE happening in beautiful Boca Raton, Florida October 17-20. Got any comments on this blog? Make yourself heard – Tweet to us at @TMRE!

Live from FOCI 2013: Big Data: Powerful Predictions Through Data Analytics

Nate Silver, a world renowned statistician and founder of fivethiryeight.com, spoke of the world of errors and predictions, very relevant to the big data environment. He evoked the thought of what kind of predictions we can trust, and how much can we trust forecasters?

Judging from Hurrican eSandy or terror attacks or unforgiving hacked tweets and the widespread reach of all these, the topic is very relevant in a world where we want to know what happens before it happens, and wish to micromanage while it happens.

Nate’s 4 suggestions are as follows:

1. Think Probabalistically: convey uncertainty knowing what can go wrong. Only if you know what you do can you know what goes wrong.

2. Know Where You’re Coming From: Know that you have a point of view, it is helpful in identification and forecasting.

3. Survey the Data Landscape: What makes data rich? Quality, quantity and variety. Understanding if you’re in a data rich or data poor environment is critical.

4. Try and Err: Experiment with real data, test hypotheses, segment the big data, and converge to a great solution.

We live in a big data and uncertain world. Never has it been more obvious that we need analytics to navigate better.

Sourabh Sharma,
Communication & Social Media Research Expert at SKIM, an international
consultancy and marketing research agency, has a background in engineering,
marketing and finance from the University of Pennsylvania, and the Wharton
School and Rotterdam School of Management. Having worked in marketing and
product development at L’Oreal, followed by a stint in management consulting,
he now passionately enjoys the world of social media, and can be found on every
platform with his alias sssourabh. He is a food critic and a fashion writer,
and documents these alongside strategy on his blog called
3FS. He may be reached at
s.sharma@skimgroup.com. Follow him on
@sssourabh.