1. By Edward Chenardhttp://www.linkedin.com/in/echenard 2. Topics Covered Consumers Today How Big Data can Help Bridge the Gap between Consumers and Businesses 3. Introduction Who am I Product and Strategy Manager at Best Buy I manage the team that runs the companies largesthadoop cluster. I manage all customer facing recommendation enginesacross the entire enterprise. I create the digital strategies for mobile, tablet, apps, bigdata, and digital tools Yes, my days are very busy… 4. Consumers Today Consumers want to learn and discover products.  Make it easy to find products. Consumers are looking for ways to maximize theirshopping experience.  Consumers don’t have time to spend all day looking for a product, they need it now! Consumers want simplicity of services.  Make it easy to get information that is relevant. 5. Consumers want to learn anddiscover new products Consumers, especially younger consumers, want toenjoy the discovery of products – not be sold to. Price sensitive shoppers love to research before theybuy. Lifestyle consumers love to discover what newproducts fit their own lifestyle. 6. Consumers are looking for ways tomaximize their shopping Experience Consumers don’t have time to go through a long salesprocess, so don’t waste their time with 20 qualifyingquestions when all they need is a simple answer. The amount of time a consumer has to wait to get whatthey wants, becomes your new brand message in thatconsumer’s mind, don’t waste their time. 7. Consumers Want Simplicity ofService Don’t make things difficult, if the process is designedfor your benefit and not the customers, then you aregoing to lose the customer. Simple means as few moving parts for the customer todeal with, give them what they want up front and howthey want it. Don’t try to inspire your sales people to inspirecustomers when all the customer wants is a cable andto be in and out in 5 minutes. 8. How Big Data Can Help Improving the way we target customers Improving our ability to address the customer painpoints better Giving customers the information they want and inthe format they want it. 9. Big Data Analytics Big data (defined as map-reduce with some sort of algorithm for the logic aspect) is a tool that can help address customer wants. Better information, the more information I have, themore I can tell what customers will want. The better information I have the better I can serve upinformation that is relevant and useful to customers. Information used properly, is the best competitiveadvantage today. 10. Big Data and Personalization With big data, we can take personalization to a level we had not been able to before. Providing consumers with information they way Providing consumers with information that is actuallyuseful for them, i.e. (help them learn and discover, notsell to them). Big data helps us collect information from all touchpoints to provide an integrated channel experience. 11. Big Data and Information Overload The amount of information people are exposed to everyday is growing. Companies that can use big data to reduce the amountof clutter for consumers, will win the race to the top. As consumers have more information overload, theyblock out more and more, value will be places oncompanies that get to the point without the fluff. Big data analytics will become a big part of achievingnew service models for consumers. 12. Big Data Takeaways Keep it simple, consumers will have more informationoverload, if you add to this problem, you make yourselfless useful to consumers. Big data analytics will be a key competitivedifferentiator. Don’t leave it to IT alone to come up with the ideas inthis space. Big data is very much a customerexperience issue, not an IT issue.

Big data and the shopping experience

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    27-Jun-2015

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1. By Edward Chenardhttp://www.linkedin.com/in/echenard 2. Topics Covered Consumers Today How Big Data can Help Bridge the Gap between Consumers and…