February 2, 2010 – 7:55 am
As you investigate analytics for your business, here are a few best practices:
- The analytics need to be focused by business function.
- The analytics needs to answer the question “What do I do with this result” and “what is the business value”.
- The analytics should make your job easier, and the recommendations should want you coming back to it over and over again.
By John Maller
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Posted in Uncategorized
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Also tagged affinity, analytics, business analytics, buying patterns, cross sell, merchandising, multichannel ecommerce, product affinity, retail, suggestive selling, upsell
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October 15, 2009 – 6:37 pm
Buying patterns are real, and they manifest themselves in how customers buy combinations of options. With the computing power we have available today we can detect and capture them. These patterns can then be used to design “house specials”, forecast future sales, and guide customers to what we want to sell them.
By John Maller
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Posted in Uncategorized
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Also tagged analytics, business analytics, buying patterns, choice combinations, crosselling, customer fulfillment, customers, online marketing analytics, POS data, product affinity, product choices, profit, sales, sales analytics, upsell
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October 12, 2009 – 2:19 pm
First order take rates tell us about the relative popularity of different options. For example, consider a small set of possible pizza toppings.
Topping
Take Rate
Pepperoni
40%
Mushrooms
20%
Pineapple
3%
Canadian Bacon
3%
Green Peppers
10%
Customer buying patterns really start with second order take rates, which tell us about pairs of options, or toppings. Second order take rates tell us about relative [...]
By Roy Marsten
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Posted in Uncategorized
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Also tagged analytics, attach rate, business analytics, choice combinations, customer fulfillment, long tail, online marketing analytics, product complexity, product management, product mix, sales analytics
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September 22, 2009 – 5:29 pm
Knowing who is buying what, where and why is “True Demand Intelligence”.
By John Maller
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Posted in Uncategorized
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Also tagged analytics, attributes, attribution, buying patterns, choice combinations, crosselling, demand sensing, Intelligence, POS data, predictive analytics, product choices, sales, SKU, up-selling, variety
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September 13, 2009 – 7:27 pm
Converting analytics to actions and recommendations minimizes human interpretation and error on a day-to-day basis. For analytics to be functional in business applications, this is a mandatory requirement in today’s business environment.
By John Maller
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Posted in Uncategorized
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Also tagged analytics, business analytics, business intelligence, buying patterns, customer experience, data mining, forecasting, information, online marketing analytics, point of sale, recommendation engine, sales analytics
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August 26, 2009 – 10:41 am
Product complexity is driven by large number of options. Companies struggle to determine which feature choices are driving complexity. They typically “randomly cut choices” to streamline and rationalize SKUs. The cost of product complexity is tremendous on engineering. The current PLM systems do not have a method to measure this and provide intelligent feedback to engineers on how to standardize platforms to reduce engineering and maintenance costs.
This article clearly details the metrics around product complexity and how to solve this issue.
August 25, 2009 – 1:55 pm
The number of build combinations depends on which features are included. The build combinations is the product mix or the marketing mix. Understanding this is important as product complexity is a key driver of process complexity.
I do a lot of work from home. My office has a huge picture window, a desk and my laptop. As a system administrator, I often read long log files or wade through large amounts of data; sometimes I need to work from an online reference as I’m tweaking system settings on my servers. A [...]
In a previous post, I discussed two types of sales history: raw and collapsed. The collapsed sales history can be displayed in a table or spreadsheet, with a special column for volume. If this table is sorted on decreasing volume, then the most popular configurations (popcons) will be at the top. The graph with the [...]
