Big Data: 6 Real-Life Business Cases - InformationWeek

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5/27/2015
04:06 PM
Lisa Morgan
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Big Data: 6 Real-Life Business Cases

Better data analysis enables companies to optimize everything in the value chain -- from sales to order delivery, to optimal store hours. Here are six examples of how major enterprises are using data to improve their business models.
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Sell Intelligently 
Slight modifications to sales and marketing strategies can have a profound effect on the bottom line, especially when informed by big data.
Imagine a direct mail campaign with a coupon return rate of more 70% within six weeks of the mailing. According to the Direct Marketing Association, the average direct mail return rate is 3.7%. How does grocery store chain Kroger do it? For one thing, it personalizes its direct mailer based on the shopping history of the individual customer. 
Kroger also has a loyalty card program that is rated No. 1 in the grocery industry. More than 90% of its customers use its loyalty card when they purchase products. Although there are many factors that have collectively enabled Kroger's financial performance, at least part of its continued growth over 45 consecutive quarters has been attributed to its customer loyalty programs.
(Image: dawnfu via Pixabay)

Sell Intelligently

Slight modifications to sales and marketing strategies can have a profound effect on the bottom line, especially when informed by big data.

Imagine a direct mail campaign with a coupon return rate of more 70% within six weeks of the mailing. According to the Direct Marketing Association, the average direct mail return rate is 3.7%. How does grocery store chain Kroger do it? For one thing, it personalizes its direct mailer based on the shopping history of the individual customer.

Kroger also has a loyalty card program that is rated No. 1 in the grocery industry. More than 90% of its customers use its loyalty card when they purchase products. Although there are many factors that have collectively enabled Kroger's financial performance, at least part of its continued growth over 45 consecutive quarters has been attributed to its customer loyalty programs.

(Image: dawnfu via Pixabay)

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shakeeb
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shakeeb,
User Rank: Ninja
5/31/2015 | 9:36:09 PM
Re: Optimize the Workforce
In my opinion, irrespective of the organization type many of them are now in to data analysis to improve their business performance.
shakeeb
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50%
shakeeb,
User Rank: Ninja
5/31/2015 | 9:32:16 PM
Process improvements
This is an important aspect in many organizations. Some organizations consist with a separate department who deals with process improvement for the whole organization.
shamika
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50%
shamika,
User Rank: Ninja
5/30/2015 | 1:41:22 AM
Optimize the Workforce
I agree with this.  This is important when it comes to retaining employees. This will obviously help in understanding their issues and needs.
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