Michael Lowenstein | April 23, 2014
A recent Forbes article by McKinsey, "Making Loyalty Pay: Six Lessons From the Innovators," showed loyalty program participation has steadily increased during the past five years (a 10 percent annual rate of growth), with the average household now having almost 25 memberships. For all of that growing popularity, there are huge questions for marketers: Are the programs contributing to increased sales? And what is the impact of loyalty programs on enterprise profitability?
April 23, 2014
I've never gone into a lot of the back-story about why we killed a traditional catalog business at Nordstrom.Rest assured, one of the main reasons the catalog was killed was a classic omnichannel merchandising challenge that few experts want to talk about.Catalogers perform what is called a "square inch analysis". They look at all demand generated by an item, in the catalog, and a portion of the online demand, then they divide the results by the total number of square inches of merchandise put in the mail.Example: 1,000,000 circulation. An item is featured on 1/4th of a page. The item
Big Data, Small Data, Clean Data, Messy Data
Stephen H. Yu | April 23, 2014
I just saw an online discussion about the role of a chief data officer, whether it should be more about data or analytics. My initial response to that question is "neither." A chief data officer must represent the business first.