Tag Archives: Prosper Insights & Analytics

Throwback Thursday: Big Data & Analytics Edition

Today’s Throwback Thursday article “Big Data And The Madness Of Crowds” was written for Forbes.com on 6/17/2014. The context deals with the madness of crowds, which was the topic of a book written by Charles Mackay in 1841. Mackay wrote of the crowd psychology that drives numerous “national delusions.” Among the various manias were the tulip bubble of the 17th century, witch mania of the 16th and 17th centuries, and alchemists who sought to turn base metals to gold.

The problem with crowd psychology is that it created an emotional feedback loop, whereby dissent is often stifled by the crowd. This article counseled about not becoming victim of big data mania and its magic wand solutions. The reader was advised that “the value of big data is in analytics that are specifically designed for your business.” Isn’t that where we are today?

Click here to read the article.

Latest Consumer Analytics Indicate A Glass Half-Full Start To Spring

From Forbes.com on March 31, 2017…

Consumer confidence is at a 15-year high and Prosper’s Impulsivity Score and Consumer Mood metric are up as well. Deborah Weinswig, Managing Director of Fung Global Retail & Technology, weighs in on the state of the US consumer with the arrival of the spring shopping season.

Prosper Consumer Confidence: Heading into spring, sentiment climbs 7+ points m/m to 57.8% who are confident/very confident in the economy in March. This month’s reading represents a 15-year high (March 2002 = 61.1%). At 72.0%, confidence among small business owners is up from last month (62.2%). “The glass is certainly half full in 2017, based on Prosper’s confidence indicator among both consumers and small business owners. With optimism riding higher, we could see continue reading…

Throwback Thursday: Big Data & Analytics Edition

March 30, 2017: Today’s Throwback Thursday article is “David Vs. Goliath: Why Little Data Will Win Over Big Data” from my Forbes.com column on May 29, 2014. The issues discussed concerning big data are now apparent today. In the Internet data scraping world, numerous marketers are now disillusioned by the hype about the quintillions of unstructured big data bits filled with bot fraud, unverifiable assumptions, unknowable demographic representations, and privacy issues. Forget the size of the data and focus first on the business issues/challenges cautions the article. Second, seek out the relevant data to better understand the business issues/challenges. Finally, apply advanced analytic processes to the relevant data to empower executives to make better evidence-based decisions to manage challenges.

Click here to read the article.

Fung Analysis: Amazon Yet to Crack the Menswear Market

Report Compares Amazon with Kohl’s, Walmart, and Macy’s and Identifies Relative Strength and Positioning of Each Retailer Compared to Amazon

Deborah Weinswig, a top-ranked global retail analyst, and her team recently released a special report titled, “Deep Dive: US Consumer Survey—Amazon Yet to Crack the Menswear Market.” This is the fourth monthly report based on the Amazon Shopper Intelligence service. and is focused on the menswear category. Key findings include:

  • Brick-and-mortar stores—which include discount stores, specialty stores and department stores—remain the main channel at which surveyed men most often purchase menswear, for a total share of 78.3% as of June 2016.
  • The majority of surveyed men have purchased menswear online, with 67.0% having done so in June 2016. However, those who do over half of their menswear shopping online remained a small minority, representing only 14.8% of surveyed men, whereas those buying most often online was a niche segment, at 2.6%.
  • The number of Amazon menswear customers has doubled over the past five years―23.4% of those surveyed bought menswear at the online retailer in the three months prior to June 2016, up from 9.4% in June 2011. However, those buying menswear most often at Amazon remained a niche segment, with a share of 2.1% in June 2016.

Amazon, Kohl’s and Walmart appeal to price-sensitive customers―over 85% of their customers cite price as the reason they shop there. Macy’s positioning differs slightly, in that it has an edge on selection and style compared to the other top retailers.

CLICK HERE TO VIEW REPORT Continue reading

Throwback Thursday: Big Data & Analytics Edition

March 24, 2017: Today’s Throwback Thursday article I wrote for my Forbes.com blog on May 15, 2014. The title of the article was “I’ve Got A Secret: The Real Big Data Opportunity”.

The article references an old TV Show, I’ve Got a Secret, and advises senior management to look beyond programmatic ad platform applications for big data and to seek more valuable strategic applications. Such applications have less to do with the “bigness” of the data, but rather should focus on the accuracy and relevance of data to provide answers for better decision making.

Click here to read the article.

Fung Analysis: The “Recycling” Of Department-Store Shoppers — And Why Amazon Could Gain From Macy’s Closures

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.

Click here to read the article.

For Brands And Retailers, The Past Is Not The Future

From Forbes.com on March 20, 2017…

The retail grocery industry appears to be in a state of change. Consumer data trend insights show that for grocery retailing, the past is not the future.

  • On February 8th, Aldi announced that during 2017, it will invest $3 billion for 600 additional new stores, and spend $1.8 billion to remodel and remerchandise the existing store base.
  • Whole Foods announced on March 10th that sales for the 6th straight quarter declined in comparable stores while lowering its guidance for fiscal 2017…close 9 stores and curtail new store development.
  • On March 2nd, Kroger announced that its 14-year streak of ¼ identical store sales growth had ended and that management foresees minimal sales and earnings growth for the remainder of 2017.

I asked long time industry veteran and consultant Ron Lunde to analyze and comment on Prosper Insights and Analytics data in light of the changing retail environment.

Click here to read the interview.

Throwback Thursday: Big Data & Analytics Edition

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?

Click here to read the article.

New Data Provides Antidote for Ad Fraud

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

Throwback Thursday: Big Data & Analytics Edition

March 9, 2017:

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.

Click here to read the article.

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Gary Drenik is CEO of Prosper Insights & Analytics, a company that prides itself on turning data into evidence-based solutions for the C-Suite. www.ProsperDiscovery.com