What are the Drivers for Higher Conversion Rates?

For 56% of the marketers, higher engagement rates and responses are the prime reasons to create personalized content, as referenced in a poll run by CMO Council, stated in a report by eMarketer.

The consumer of today is highly informed and for businesses to acquire as well as retain such consumers is a tough task, especially for ecommerce ventures. Data analytics, for most online retail ventures, have already begun to play an important role in determining the consumer journey, in analyzing the buyers’ shopping carts or their buying behaviors. The implementation of big data analytics solutions

Are Your Loyalty Programs doing what they’re Supposed to Do?

The theoretical logic behind the application of loyalty programs is to motivate customers to stay dedicated to the retail businesses. However, for most business enterprises, it does not necessarily turn out that way. They struggle in the creation of unique and relevant programs to promote their brand and in building brand affinity, particularly due to the lack of insights on the customers’ buying patterns. Despite having multiple loyalty programs in place, they fail to convert one-time buyers into repeat purchasers. According to a SAS Insights study, the effectiveness of loyalty programs is only marginal – 6.5 out of 10. It might be right to infer that an increase in the number of loyalty programs is in some way creating unintended consequences for the retail businesses.

The retailers aiming to create a unified consumer experience need to focus on leveraging the overall experience of customers across all channels before utilizing/ implementing loyalty solutions in consumer retention activities. However, for most retail businesses, consumer data resides in segregated and isolated sales, marketing and support silos, making it difficult to generate a holistic view of the customer, thereby failing to present a unified experience. The application of big data analytics solutions

Big Data Analytics To Power Enterprise Mobility

With the enterprises deviating from their standard connectivity measures, the workforces are empowered to work while on the move. Enterprise mobility is witnessing the rise of the BYOD phenomenon with the widespread proliferation of smartphones, tablets and other mobile devices at the workplace and life, in general. However, this empowerment does come at a price – security and risks in such a mobile environment are paramount. Stringent security measures should be in place to ensure that enterprise data is safe and risks to security or data breaches is minimal.

The Latest Trends in Big Data Arena

With the buzz around “big data” only increasing over the years, we find out how well organizations are catching up with data and vice versa. We look at some of the recent trends that are doing the rounds in the enterprise world of big data adoption and implementation.

1. The market for big data is growing – the $7 billion estimated market cap way back in 2011 is set to grow over $61 billion by 2020 and $84 billion by 2026. It indicates a CAGR (compound annual growth rate) of 17% spread over the 15-year duration, starting 2011.

2. Despite the rising awareness about the advantages of implementing and adopting big data analytics solutions, the success rate of its implementations is still ineffective. While there are only 27% (1 out of 4) enterprises that have successfully managed to execute their big data strategies, 24% enterprises have either not implemented or do not plan to do so. In addition, there are 13% organizations with full-scale production of big data, 35% in partial production and 29% are in the stage of doing a POC.

3. Two-thirds issues hindering the effective implementation of big data analytics solutions are processes (or people) and not the technology concerning it. There are quite a few additional common issues like: