On-Demand Webinar: Be a Data Disruptor — Leverage What You Already Collect
Technology allows retailers to collect data — and lots of it. Brands like Warby Parker and Uber have turned industries on their heads by collecting and using data to make better, smarter decisions.
“Best practices go out the window when you prove, with data, that they aren't the right practices for you,” explains Avery Cavanah, product marketing manager at Looker, a data analytics platform.
Yet, for many retailers, it’s difficult to do anything with the data they collect. Retailers need help. In the free webinar “How to Become a Data Disruptor: Create a Winning Culture Around Data,” Cavanah and Drew Gillson, technical co-founder of LiveOutThere.com, will provide retailers the help they need.
“There's a misconception among people who want to use data that analysis requires all possible data, plus predictive elements, and that you have to be a data scientist,” says Cavanah. “The reality is that getting your analytics to the point where people trust the data and can get answers to the questions they need to do their jobs better will impact your company’s bottom line.”
Cavanah says possibilities are endless when brands begin to leverage their data correctly. For example, brands can start out by asking simple questions like, “what are we running out of?" This can be extremely beneficial, Cavanah says.
“If you understand what products customers love, and can manage to keep all your best-sellers in stock, that right there will drive meaningful revenue and help you beat the competition,” notes Cavanah.
Data can also help you identify industry trends and consumers' wants. Cavanah explains that people who are closest to the brand are in the best position to analyze the collected data. For example, the marketing team may be able to spot an abnormality that no one else noticed. However, for this to be successful, every employee needs to have the ability to access and explore the same data.
“Giving every employee the ability to explore the data allows for the people closest to the business to keep their finger on the pulse,” notes Cavanah. “Whether it's something as large as spotting an issue with QA or something as small as knowing what campaigns acquired the highest lifetime value customers, when everyone has the ability to explore the data, good things happen.”
There’s so much more to learn from Cavanah and Gillson — be sure to register here for the free webinar “How to Become a Data Disruptor,” happening August 30 at 2 p.m. ET.
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