Businesses Failing to Understand That Big Data is About Customers
LONDON, August 21, 2012 /PRNewswire/ –
How to squeeze percentages out of Big Data is still proving to be a big headache for
businesses and one that not enough business leaders are prioritising in the right way,
according to a study by global customer insight group Beyond Analysis.
Beyond Analysis has worked with clients and partners (such as Visa Europe) for the
past three years to better understand Big Data, and its study has shown a lack of
understanding of how to get the best out of stored information.
Worryingly, the study showed that businesses trusted their raw data with businesses
that had no legacy in Big Data and even more concerning, were getting the correlation
between analysing the data and understanding customers wrong.
Jim McCallum, head of Asia, Al-Futtaim Private Company LLC, owners of Robinsons
Department Store, explained: “Working with Beyond Analysis has provided us with a new way
of understanding our customers – who they are and what they buy. We have a wealth of
information available to us, even down to the individual product level, and by using
Beyond Analysis’ C-DNA(TM) solution we were able to translate this into meaningful and
actionable insight in order to better understand our customers, tailor communications with
them in accordance and deliver a nine per cent uplift in sales from just one of our
Beyond Analysis’ trademarked Customer DNA(TM) (C-DNA(TM)) offering allows businesses
to translate a combination of relevant lifestyle, demographic and affluence measures, into
meaningful customer patterns and segments. By having a holistic view of the customer,
businesses can utilise the best data sources available, understand each business unit and
sector, and derive marketing communications accurately tailored for each customer. This
also allows organisations to run bespoke marketing and sales campaigns and events, as well
as improve their reporting and business planning.
Beyond Analysis then takes this information and uses its Valve(TM) solution to provide
best-in-class customer grouping, based on value and engagement with the brand, including
but not exclusive to social media. This allows clients to focus on profitability rather
than revenue and provides an accurate and multi-dimensional measure of loyalty.
Paul Alexander, CEO of Beyond Analysis, continues: “Our study conducted over a period
of three years surprised us by highlighting just how many businesses are taking the wrong
approach to understanding their data. But even more concerning is the amount of poor
advice being offered. We are well versed in Big Data having worked in this field with our
partner Visa Europe for three years and understand that it isn’t all about ‘machines’ but
actually customer understanding and what you do with this information to deliver real,
About Beyond Analysis
Beyond Analysis is a leading customer insight and strategy business. We believe that
the customer should be at the heart of everything we and our clients do. And we’re
passionate about using the power of data to achieve this: finding it; collating it;
interpreting it; unlocking its value.
We work with some of the world’s largest consumer brands to harness the power of their
data and adopt a customer-led approach to their decision making. We bring together
multiple data sources to interpret consumer trends and give our clients a clear line of
sight to help them grow their business.
We have offices in London, New Delhi, Singapore, Sydney, Denver and Cape Town.
Contact Information: Denis Davies / Claire Hutchison BA@berkeleypr.co.uk [Claire@berkeleypr.co.uk ] +44(0)1189-090-909
SOURCE Beyond Analysis