Adam Gartenberg's Blog

Business Analytics and Optimization, IBM and Social Marketing

See the Information Agenda in action

The Information Agenda video I mentioned in yesterday's post is now on YouTube.   It gives a specific example - geared around a retail organization - that does a great job of explaining just what kind of impact having an information agenda - and therefore tying together various information sources and allowing immediate action on it - can have.

In the example, a retail clerk with a handheld scanner approaches a customer that is looking at a small handbag.  Because the store is analyzing its sales data in real time, it knows that people that buy this particular handbag often also buy shoes (OK, I could hear some of you saying "but I could tell you that *without* a computer..." bear with me here).  After scanning the handbag, the handheld unit informs the clerk of a cross-sale opportunity - a 15% discount on shoes - that the customer might be interested in.  (As to the example, there are plenty of correlations that might not be as obvious as handbags and shoes.)

Back in headquarters, the purchasing agent is monitoring sales in real time, and noticing a spike in sales of those small handbags, increases inventory to prevent an outage in the stores.  And the marketing manager is also able to see the trend in handbag sales and can take the necessary steps from a marketing standpoint to capitalize on this new interest in small handbags.