Hidden Gems: Using to Grow Revenue - Magentoinfo2.magento.com/rs/magentoenterprise/images/... ·...
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Transcript of Hidden Gems: Using to Grow Revenue - Magentoinfo2.magento.com/rs/magentoenterprise/images/... ·...
Hidden Gems: Using
Data Driven Insights
to Grow Revenue
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Founder & CEO
Blue Acorn
Kevin Eichelberger
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Manager of Marketing Research
Bronto Software
Jim Davidson
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Director of E-commerce
Blu Dot
Mike Wodtke
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Director of Marketing
Optimizely
Jodie Ellis
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Head of Big Data
eBay Inc.
Tim Domke
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CEO
Granify, Inc.
Jeff Lawrence
Our Goal: To deliver you
actionable insights on how you
can use data to grow eCommerce
revenue.
Big Data “Big Data is the frontier of a
firm’s ability to store,
process, and access (SPA) all
of the data it needs to
operate, make decisions,
reduce risks, and serve
customers”
- Forrester
Micro vs. Macro Data Micro:
- Individual user data
- Specific instances, sites,
or companies
- Segmented data
Macro:
- Market data
- Consumer indices
- Market trends
Predictive Use of Data
22% of online retailers
indicated they currently
leverage real-time user data
to grow revenue
- Personalization
- Targeted Offers
- Preventing abandoned carts
Interpreting & Using Data Only 39% of online retailers
routinely gain insight from
analytics – Top 3 reasons why:
1. Lack of resources
2. Time required
3. Lack of understanding
Incorporating Data into an
Organization’s Decision
Process
What are the biggest challenges
for eCommerce marketers to
instill data into management’s
decision making process?
1. HIPPOs (Highest Paid Person
in the Organization)
2. Culture
3. Organizational structure
One Last Piece of Advice…
Q&A
