Earlier this week, I met the marketing team in a retail business. They told me they ran hundreds of weekly promotions, but had no idea which ones were successful. I’d say this is fairly common, even in some of the largest businesses, especially if they started on the high street and have migrated online.
The online retailers tend to be better at the internal examinations than the rest, because the management of data is an intrinsic part of what they do.
There’s often so much customer data within a business that is stored, but never explored.
Here are some of the things we are doing to help out.