Are you asking the right questions in order to optimize you analytics? Search CIO provides you with the questions you should be asking in order to get better analytics:
John Lucker hasn't applied for a new credit card in 20-plus years. But in the last three he has received more than 300 offers from banks, hotel chains, affinity groups -- you name it. It's a tactic sometimes called spray-and-pray marketing, and it's "pretty old science," Lucker, consultant with Deloitte Consulting LLP, said during a Harvard Business Review webinar on leveraging customer data.
If the companies spraying him with offers had analyzed his past and present behavior -- how often he applies for a credit card or how he interacts with their businesses -- they could have predicted his response and saved their prayers for a more likely customer. Lucker's personal experience has convinced him that rudimentary practices like this need to be refined. CIOs, it's time to help your marketing departments implement better analytics.
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