Analytics and Dynamic Customer Strategy E-Book

John F. Tanner

• Herausgeber: John Wiley & Sons
• Kategorie: Fachliteratur
• Sprache: Englisch

Seitenzahl: 374

Veröffentlichungsjahr: 2014

Beschreibung

Key decisions determine the success of big data strategy Dynamic Customer Strategy: Big Profits from Big Data is a comprehensive guide to exploiting big data for both business-to-consumer and business-to-business marketing. This complete guide provides a process for rigorous decision making in navigating the data-driven industry shift, informing marketing practice, and aiding businesses in early adoption. Using data from a five-year study to illustrate important concepts and scenarios along the way, the author speaks directly to marketing and operations professionals who may not necessarily be big data savvy. With expert insight and clear analysis, the book helps eliminate paralysis-by-analysis and optimize decision making for marketing performance. Nearly seventy-five percent of marketers plan to adopt a big data analytics solution within two years, but many are likely to fail. Despite intensive planning, generous spending, and the best intentions, these initiatives will not succeed without a manager at the helm who is capable of handling the nuances of big data projects. This requires a new way of marketing, and a new approach to data. It means applying new models and metrics to brand new consumer behaviors. Dynamic Customer Strategy clarifies the situation, and highlights the key decisions that have the greatest impact on a company's big data plan. Topics include: * Applying the elements of Dynamic Customer Strategy * Acquiring, mining, and analyzing data * Metrics and models for big data utilization * Shifting perspective from model to customer Big data is a tremendous opportunity for marketers and may just be the only factor that will allow marketers to keep pace with the changing consumer and thus keep brands relevant at a time of unprecedented choice. But like any tool, it must be wielded with skill and precision. Dynamic Customer Strategy: Big Profits from Big Data helps marketers shape a strategy that works.

Leseprobe

Table of Contents

Title Page

Copyright

Dedication

Foreword

Preface

Acknowledgments

Part One: Big Data and Dynamic Customer Strategy

Chapter 1: Big Strategy for Big Data

Beyond the Hype

The Value of Accelerated Learning

Introducing Dynamic Customer Strategy

DCS Complements Design School

Barriers to Big Data and DCS

Summary

Notes

Chapter 2: Mapping Dynamic Customer Strategy

Theory as Strategy

Concepts

Relationships

Establishing Causality through Control

Conditions

Making the Model Operational

Target's Behavioral Loyalty Model

Simple versus Complex Models

Summary

Notes

Chapter 3: Operationalizing Strategy

Conceptual to Operational

Operational Definitions

From Strategy to Action

Microsoft's DCS and Fail-Fast Mentality

Experiments and Decisions

Managing Decision Risk

Using Big Data Effectively

Summary

Notes

Part Two: Big Data Strategy

Chapter 4: Creating a Big Data Strategy

Avoiding Data Traps

An Airline Falls into a Data Trap

Creating the Data Strategy

Summary

Notes

Chapter 5: Big Data Acquisition

Measurement Quality

The Truth and Big Data

Acquiring Big Data

Making Good Choices

The Special Challenge of Salespeople

Summary

Notes

Chapter 6: Streaming Insight

The Model Cycle

Applications of Statistical Models

Types of Data—Types of Analytics

Matching Data to Models

Summary

Chapter 7: Turning Models into Customers

Mac's Avoids Mindless Discounting

Decision Mapping

Conversations and Big Data

Cascading Campaigns

Cascading Campaigns Accelerate Learning

Accelerating the Process with Multifactorial Experimental Design

Summary

Notes

Chapter 8: Big Data and Lots of Marketing Buzzwords

Customer Experience Management

Value and Performance

Performance, Value, and Propensity to Relate

Responsiveness

Citibank MasterCard Responds at Market Level

Transparency

Community

Cabela's Journey to Customer Experience

Summary

Notes

Chapter 9: Big Data Metrics for Big Performance

The Big Data of Metrics

Variation and Performance

Creating a Tolerance Range

Visualization

Creating the Right Metrics

Summary

Notes

Part Three: Big Data Culture

Chapter 10: The Near-Simultaneous Adoption of Multiple Innovations

Building Absorptive Capacity

People, Process, and Tools

Managing the Change

Empowering Your Entrepreneurs

Konica-Minolta's Awesome Results

One Result: Customer Knowledge Competence

Global Implementation

Summary

Notes

Chapter 11: Leading (in) the Dynamic Customer Culture

Leadership, Big Data, and Dynamic Customer Strategy

Leadership and Culture

Movements

Exploiting Strategic Experimentation

Big Data, Big Decisions, Big Results

Notes

Afterword

Additional Readings

About the Author

Index

End User License Agreement

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Guide

Cover

Table of Contents

Foreword

Preface

Part One: Big Data and Dynamic Customer Strategy

Begin Reading

List of Illustrations

Figure 1.1

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Figure 1.3

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Figure 1.6

Figure 1.7

Figure 2.1

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List of Tables

Table 4.1

Table 6.1

Table 10.1

Table 10.2

Analytics and Dynamic Customer Strategy

Big Profits from Big Data

John F. Tanner Jr.

Cover image: © iStockphoto / RomanOkopny

Cover design: Wiley

Copyright © 2014 by John F. Tanner Jr. All rights reserved.

Published by John Wiley & Sons, Inc., Hoboken, New Jersey.

Published simultaneously in Canada.

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Library of Congress Cataloging-in-Publication Data:

Tanner, John F.

Analytics and dynamic customer strategy : big profits from big data / John F. (Jeff) Tanner, Jr.

pages cm

Includes index.

ISBN 978-1-118-90573-9 (Hardcover) — ISBN 978-1-118-91978-1 (ePDF) — ISBN 978-1-118-91977-4 (ePub) — ISBN 978-1-118-91976-7 (oBook) 1. Customer relations. 2. Relationship marketing. 3. Big data. I. Title.

HF5415.5.T36 2014

658.8′34—dc23

2014005246

This book is dedicated to Tom Leigh, formerly the Charles M. and Emily H. Tanner Chair in Sales and Professor Emeritus at the University of Georgia, who got this all started.

Foreword

The need to effectively build and manage customer relationships is almost universally accepted in today's world. Why then do so many organizations get it so wrong? The rise of Big Data has unfortunately only compounded the problem in many cases. Organizations that weren't doing a good job with customer data and analytics in the past are falling even further behind. For those that aren't prepared, Big Data offers plenty of ways to do things very wrong. For those that are prepared, Big Data provides the ability to understand customers and actively manage customer relationships at a level never before possible.