Twice a month, we bring you headlines from around the industry to keep you informed of the latest trends and conversations. Whether you are in IT, finance, sales or marketing, we are your go-to source for how the intersection of predictive analytics, machine learning and AI is transforming business planning.
The term window shopping may soon be extinct, as today’s retail experience has completely changed since the term was coined. The first major change is that the things we see online today, or even in a physical store, are all curated based on data to show us what we want to see or what we are most likely to purchase. In addition, almost all shoppers are now connected, with 78% of consumers owning a smartphone and 46% preferring online shopping. This, in turn, has changed how retailers connect with consumers. Read this ComputerWorld article for details.
Companies in almost every industry have to address the issue of churn, as customers gradually reduce their purchase frequency over time or never buy again, ultimately stalling growth. If your organization wants to compete – and succeed – in today’s market, then looking into predictive analytics is a good place to start. This Dataconomy article shows how predictive analytics can identify potential churn and provide actionable, data-driven insight to prevent departure. Read it here.
In an effort to turn data insights into gold, the digital transformation of the business world has led to new C-suite titles such as chief digital officer, analytics officer and marketing technology officer. One factor leading to these new roles is the lack of innovation and an attitude of perceived minimal impact of data coming out of the CIO’s office. While old-school CIOs may see this as “IT business as usual,” forward thinking CIOs are creating an opportunity to take on “one of technology’s most important value-add functions” – advanced predictive analytics. Read more in this article from CIO Magazine.
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