Active data collection: e.g. surveys
Passive data collection: e.g. transactional data – across all touch-points/all channels (single customer view)
Data quality/usefulness: complete, accurate, timely, allows for managerial decision-making
Data for decision-making (increasing sales):
(Point of sales data: what are they buying, where/how are they buying, what triggered the purchase, what do they have in their basket, etc.)
1. Impact of promotions (both short-term and long-term): who buys our products on promotions; how many of our customers are cherry-pickers; will cherry-pickers become loyal (& if so, how); are today’s promotions cannibalising future promotions/sales
2. Impact of display (retail, catalogue, online): which types of display work best to optimise sales
3. Sales within and across categories: which products (or categories) are substitutes; which products (or categories) are complements; which products are working well together and which are cannibalising each other
4. Impact of pricing: standard list price, discounted price, membership discounts/launch discounts, currency pricing overseas
5. Effectiveness of new customer recruitment: how did first time buyers find us; how much did they purchase; which products or offers will optimise their purchases
Data for decision-making (improving profitability):
[TBC]
Data for decision-making (reducing risk):
[TBC]