Big Data and the Shopping Experience

By Edward Chenardhttp://www.linkedin.com/in/echenard

Topics CoveredConsumers TodayHow Big Data can Help Bridge the Gap

between Consumers and Businesses

IntroductionWho am I

Product and Strategy Manager at Best Buy I manage the team that runs the companies

largest hadoop cluster.I manage all customer facing recommendation

engines across the entire enterprise.I create the digital strategies for mobile, tablet,

apps, big data, and digital toolsYes, my days are very busy…

Consumers TodayConsumers want to learn and discover

products.Make it easy to find products.

Consumers are looking for ways to maximize their shopping experience.Consumers don’t have time to spend all day

looking for a product, they need it now!Consumers want simplicity of services.

Make it easy to get information that is relevant.

Consumers want to learn and discover new productsConsumers, especially younger consumers,

want to enjoy the discovery of products – not be sold to.

Price sensitive shoppers love to research before they buy.

Lifestyle consumers love to discover what new products fit their own lifestyle.

Consumers are looking for ways to maximize their shopping ExperienceConsumers don’t have time to go through a

long sales process, so don’t waste their time with 20 qualifying questions when all they need is a simple answer.

The amount of time a consumer has to wait to get what they wants, becomes your new brand message in that consumer’s mind, don’t waste their time.

Consumers Want Simplicity of ServiceDon’t make things difficult, if the process is

designed for your benefit and not the customers, then you are going to lose the customer.

Simple means as few moving parts for the customer to deal with, give them what they want up front and how they want it.

Don’t try to inspire your sales people to inspire customers when all the customer wants is a cable and to be in and out in 5 minutes.

How Big Data Can HelpImproving the way we target customersImproving our ability to address the customer

pain points betterGiving customers the information they want

and in the format they want it.

Big Data AnalyticsBig data (defined as map-reduce with some

sort of algorithm for the logic aspect) is a tool that can help address customer wants.Better information, the more information I

have, the more I can tell what customers will want.

The better information I have the better I can serve up information that is relevant and useful to customers.

Information used properly, is the best competitive advantage today.

Big Data and PersonalizationWith big data, we can take personalization to

a level we had not been able to before.Providing consumers with information they

wayProviding consumers with information that is

actually useful for them, i.e. (help them learn and discover, not sell to them).

Big data helps us collect information from all touch points to provide an integrated channel experience.

Big Data and Information OverloadThe amount of information people are

exposed to everyday is growing.Companies that can use big data to reduce the

amount of clutter for consumers, will win the race to the top.

As consumers have more information overload, they block out more and more, value will be places on companies that get to the point without the fluff.

Big data analytics will become a big part of achieving new service models for consumers.

Big Data TakeawaysKeep it simple, consumers will have more

information overload, if you add to this problem, you make yourself less useful to consumers.

Big data analytics will be a key competitive differentiator.

Don’t leave it to IT alone to come up with the ideas in this space. Big data is very much a customer experience issue, not an IT issue.