Shopping habits reveal even the most personal information. All major retailer vendors from investment banks, to sim card vendors, to grocery chains, bankers today is moving with a “predictive analytics” department specialized to comprehend the consumers’ shopping habits including their personal habits, to customize their marketing methods. For example Target a retail unit was able to predict based on the buying pattern, that a teenage shopper was pregnant before her dad did. The high school student’s father was furious as he stormed into a Minneapolis-area store clutching coupons sent to his daughter for maternity and baby products. Such is the power of Data analytics.
Such data provide enough digital footprints for any interested party to do a follow-up. Going by the modern management theory of providing the customer with what he wants, it is essential to understand what he wants. Though the data was being collected all along, Information technology was unable to handle provide an edge to business in terms of data analytics.
Is it only marketing.The answer is a definite NO. There are other areas of overlap which is attracting the attention of Management. Some of the other areas include, Security and Information Event Management which is a huge area of concern. The SIEM has started throwing digital foot prints on the application usage pattern of potential customers in terms of handling operating system and other applications which site on top of OS. Technologies like SNMP and RMON are capable of pushing specialized data to the external world which provides excellent insight.
Author-It for Management,Oxford Press
No comments:
Post a Comment