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.