Deborah Weinswig, a top-ranked global retail analyst who writes about retail and tech, recently authored “The ‘Recycling’ Of Department-Store Shoppers — And Why Amazon Could Gain From Macy’s Closures” for Forbes.com. In the article, Deborah uses unique consumer insights from Prosper Insights & Analytics to show how Macy’s store closures will benefit Amazon. This article is timely for anyone in the retail industry and we think you will enjoy it.
March 16, 2017: “Is Mass Hysteria Driving The Big Data Market?” is the title of today’s Throwback Thursday article which was published on May 5, 2015 on Forbes.com.
In the rush towards anything to do with big data, many suffered temporary symptoms of hysteria, characterized by excitement, anxiety or irrational behavior, or beliefs in which many cases led to big data disillusionment.
The article advises a focus on identifying meaningful findings from relevant data for better informed business decisions by senior management. Are many experiencing similar hysteria to when it comes to big data driven analytics?
Newly Released Media Behaviors & Influence™ Study Provides Marketers in Disrupted Media Market with Real Data from Real People for Increased ROI
Worthington, OH – 3/13/2017
As advertisers continue to struggle with disruption in the media world, including a decline in the use of traditional media, fake news, and bot fraud, Prosper Insights & Analytics™, a leading provider of business intelligence solutions, has released the Media Behaviors & Influence Study™ (MBI) for 2017. The data includes the responses of over 16,000 respondents and can be used to enlighten marketers by providing a unique consumer dimension. The MBI contains real consumers’ media consumption, including which media influences them to purchase, personality traits, and purchase intentions, and can be integrated with big data initiatives to enhance models to better target consumers. Continue reading →
Today’s Throwback Thursday article is entitled, “Three Legs Of Big Data Stool Needed For Success.” First published on Forbes.com on April 23, 2014, it details three key areas for getting started in big data.
1. Data Sourcing and the potential pitfalls of big data streams from social networks full of fraud and incomplete data requiring numerous unverifiable assumptions.
2. Human resources capable of developing a strategy to exploit big data for a competitive strategy. (Hint: most fail here.)
3. Analyzing right types of data for meaningful outcomes.
Finally, the article advises about the use or integration of outside data sources which are much more specific, detailed, and accurate, in order to better inform digital data.
It’s been five years since Best Buy unwittingly acquired the “showroom” moniker thanks to online-upstart-turned-serious-competitor Amazon.com. I’ve previously detailed the showroom showdown between the two electronics giants as well as Best Buy’s issues converting its shoppers into buyers. And since then, Best Buy has made concerted efforts to improve its profile among consumers by investing in customer service, updating the in-store experience (e.g. the Samsung Experience Shop), and promoting the Internet of Things (IoT) while minimizing the space out-of-date products waste on the sales floor (so long, digital cameras). Perhaps more importantly, though, Best Buy implemented a competitor price matching policy aimed at preventing shoppers from leaving stores (or abandoning its website) empty-handed. So how have consumers reacted to Best Buy’s changes? New analysis from Prosper Insights & Analytics’ monthly survey of more than 6,000 U.S. consumers nationwide reveals the progress Best Buy has made with shoppers over the past five years as well as the challenges that continue to haunt the electronics retailer in its battle with Amazon. Continue reading →
Consumer confidence continues to decline from December’s peak but February’s reading represents a 19% surge over last year. Deborah Weinswig, Managing Director of Fung Global Retail & Technology, weighs in on the evolving state of the US consumer in 2017. Continue reading…
This week’s Throwback Thursday article comes from a Forbes.com post I authored in March of 2014 titled, “Is Big Data Today’s Sock Puppet?” To set the context of the article, recall all the hype centered on big data in 2014, as if it were capable of solving about every problem known to man. The issue of methbots, bot fraud, and unverifiable data accuracy was largely overlooked. Today those issues are undermining many initiatives. Enjoy this replay of “Is Big Data Today’s Sock Puppet?”
In just the last few years, iconic names like Borders, Radio Shack and Sports Authority have all gone the way of the T-Rex…they are extinct! Disruption is and will continue to be a constant as we can see from political campaigns to consumer’s shopping behaviors.
Today, the effects of this disruption can be seen in accelerated retail store closings, legacy brands increasingly on life support and plummeting mall real estate values.
In response, private equity, corporations, and academic institutions have responded by pouring billions of dollars into an ever-expanding universe of big data firms with services, hardware, software and course offerings all promising to find the magic potion when firms aggregate their data gold mines.
This, in turn, leads to a bright light shined on the most important variable in this equation…the data. And the resulting reflection has uncovered continue reading.