How retailers can better us analytics to improve the customer experience
The National Retail Federation reported only 47 percent of retailers are using insights from customer analytics to drive operational decisions. And to think ... the retail industry is considered one of the more sophisticated across sectors for analytics use.
And that generally is the case — when it comes to leveraging customer analytics for marketing promotions, loyalty programs and merchandising decisions.
"Many still do not leverage customer analytics for other operational decisions, often because of a lack of fully integrated customer data as well as integration into other operational data and sometimes simply because of the lack of knowledge of how to leverage operationally beyond those areas mentioned," explained Dave Nash, director in the Customer Experience practice at consultancy West Monroe Partners.
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