Best-in-class retailers are embracing predictive analytics to track and understand consumer behaviors, and better tailor marketing campaigns across channels. Some retailers have hired data scientists to examine the plethora of factors and data points that need to be considered to sufficiently predict future shopper behaviors.
Macy’s.com successfully implemented InfiniteInsight from SAP to better understand customer buying behaviors and create more relevant and effective email and web site marketing campaigns. With the solution, even the most robust predictive models are created in an automated fashion. As a result, the retailer has been able to move forward from its traditional approach, which required a number of data scientists and a predictive model for each product category.
Approximately 20 predictive models have been created within a few weeks, reflecting a 15-fold increase in productivity versus the previous solution. Macy’s.com also has seen an 8% to 12% increase in online sales as a result of more targeted emails to registered users and web site visitors.
“SAP InfiniteInsight is a product that excels in speed to results,” said Kerem Tomak, Group VP of Marketing Analytics and CRM at Macys.com. “It’s scalable, concise and very efficient — it’s the reliable choice for predictive modeling. It’s my go-to product for everything that requires scales for my enterprise level solution.”
Based on patented automation technology from KXEN, an SAP company, SAP InfiniteInsight is designed to provide greater insight to line-of-business users.