Loyalty Just For Me: How Big Data is Shaping Tomorrow’s Loyalty Programs
Ritesh Bhavnani, Snipp | August 10, 2016
(This column is part 3 in a series. See part 1 here, and part 2 here)
Today’s consumers create vast amounts of data in their digital lives, through their online browsing and searches, their social media interactions, their mobile devices and the apps that live on them, and increasingly through the sensors embedded in their wearables and in the physical environment around them.
This explosion in data generation – commonly referred to as “Big Data” – offers a tremendous opportunity for marketers to truly understand consumer needs, and create richer and more nuanced pictures of individual shoppers. Furthermore, today’s democratization of computing power, storage and analytics has allowed even the smallest of companies to crunch through Big Data, and consumers themselves have come to expect greater amounts of personalization and customization in exchange for giving businesses a window into their digital shadow selves.
This article covers some of the use cases for marketers looking to apply Big Data to loyalty.
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