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IDC PlanScape: Retail Customer Analytics and Insights

Publisher IDC
Published Sep 26, 2022
Length 16 Pages
SKU # IDC17414649

Description

IDC PlanScape: Retail Customer Analytics and Insights

This IDC study provides a road map for initiating a customer analytics and insights practice by introducing the critical nature of building customer analytics, the cross-functional data orchestration necessary to introduce change, and the starting points to assemble the culture, leadership, and resources essential to succeed."Customer analytics and insights as a practice provides the critical metric for all retailers to achieve true customer obsession. Retailers of all stripes are touting the customer obsession party line. But many retailers haven't put in the legwork to make customer obsession real or successful," says Ananda Chakravarty, research vice president, Merchandising and Marketing Analytics Strategies, IDC Retail Insights. "To be customer obsessed means understanding the customer, and understanding requires metrics applied to all aspects of the retail business from merchandising core to social media fringes."

Please Note: Extended description available upon request.

Table of Contents

16 Pages
IDC PlanScape Figure
Executive Summary
Why Is Customer Analytics and Insights Important?
Retail Decisions for Customer Experience Need Customer Understanding
Defining Corporate Strategy
Optimizing Retail Operations
Optimizing Retail Marketing and Sales
Customer Analytics and Insights Establishes Customer Understanding
What Is Customer Analytics and Insight?
Who Are the Key Stakeholders?
Chief Executive Officer
Chief Financial Officer
Customer Analytics Leader
Other Key Stakeholders
How Can My Organization Take Advantage of Customer Analytics and Insights?
Establish a Data-Driven CA&I Practice
Embed CA&I into Daily Workflows
Culture Change
Leadership Support
Bring Merchandising and Operations into CA&I Decision Making
Hire Data Experts and Scientists
Assign a Leader for Customer Analytics
Enable Data Support Teams to Collect, Prepare, Analyze, and Integrate Customer Analytics
Advice for Technology Buyers
Assess Your Current Tech
Think Holistically
Prioritize Customer Technology
Collaborate on Data Gaps
Decouple Data Analytics and Data Sources
Everyone Should Be Able to Access the Data
Related Research

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