By Rick Chavie
This can eliminate the need for intrusive retail strategies, including the use of facial recognition and tracking technology that follows a customer’s path through the aisles, pushing out offers on products the customers may not want.
With all the Big Data out there on each consumer, it should be straightforward for retailers to always provide customers with compelling, relevant offers.
Perhaps Australian and global retailers can learn from the 'selfie' phenomenon, where consumers essentially generate their own public relations and brand awareness without help from the experts.
Using small data, companies can provide equal time listening to what customers want as they can predicting what customers want.
Small Data is poised to be a win-win for Australia’s retailers and customers.
Alan has been a trusted source of investment advice to Australians for many years, and in 2005 he founded Eureka Report - Australia’s #1 online investment report.
For example, the messages retailers claim are “just for you” often don’t resonate, and irrelevant banner advertisements pop up on consumers’ phones only to block them from reading what they’re actually interested in.
Read more here: Business Spectator