Analytics and Dynamic Customer Strategy. Big Profits from Big Data - Product Image

Analytics and Dynamic Customer Strategy. Big Profits from Big Data

  • ID: 2766402
  • Book
  • 256 Pages
  • John Wiley and Sons Ltd
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Accelerate the power of Big Data with Dynamic Customer Strategy

If there is anything certain about big data, it s that continuous learning and change will be necessary to master it. In this book Tanner describes how to build learning and change into your big data marketing strategy. It s clear, concise, and fun what are you waiting for?
Thomas H. Davenport, Distinguished Professor, Babson College; Author of Competing on Analytics and Big Data @ Work

Big data is not hype. It s an opportunity and a business imperative. In Jeff s book he explains clearly how an organization can create and execute a Big Data strategy today that drives Revenue and Profits.
Bruce Culbert, Partner and Chief Services Officer, The Pedowitz Group

This book from Dr. Jeff Tanner delivers insights, useful models, processes, and real–world examples that will help you rise above the Big Data hype to drive a sustainable competitive advantage. Dr. Tanner applies Jack Welch s learn and act philosophy to his Dynamic Customer Strategy model to inspire today s business executives to fail fast, fail cheap, take action, and learn. This book is a must read today since the market leaders of tomorrow will enjoy big profits from Big Data. So buy it, read it, apply it, and then act and learn before your competitors do!
Lisa Arthur, Chief Marketing Officer, Teradata Applications; Author of Big Data Marketing: Engage Your Customers More Effectively to Drive Value

I liked this book for the practical approach, the detailed how–to explanation of what organizations must do, and what steps they may take. Dr. Tanner wrote another great book that can be leveraged in the classroom to learn, or in the organization to guide implementations. Well done.
Esteban Kolsky, Thinkjar

This is an exciting book. I feel like I m reading about the last 10 years of my life and all my frustrations of organizations that just didn t get it.
Ben Becker, Becker Strategies

With Analytics and Dynamic Customer Strategy, Tanner goes far beyond the discussion of what big data is and why it s important from a sales and marketing perspective. Through an enlightening mix of research, strategy, and review of enlightening case studies, Tanner puts forth important methodologies for creating customer–centric business models where data fuels efficient, successful, sustainable customer engagement. Where in the early days of social media adoption, enterprises had some leeway for learning to integrate social into the enterprise, customer sophistication and expectations are significantly higher now. You have less time and fewer opportunities to get it right. Luckily, Tanner delivers a blueprint to help you to get it right, make it work for your customers, and make it work for your bottom line.
Brent Leary, CRM industry analyst and Managing Partner, CRM Essentials, LLC

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Foreword xi

Preface xv

Acknowledgments xvii

Part One: Big Data and Dynamic Customer Strategy

Chapter 1: Big Strategy for Big Data 3

Beyond the Hype 4

The Value of Accelerated Learning 6

Introducing Dynamic Customer Strategy 7

DCS Complements Design School 19

Barriers to Big Data and DCS 20

Summary 24

Notes 24

Chapter 2: Mapping Dynamic Customer Strategy 27

Theory as Strategy 28

Concepts 29

Relationships 31

Establishing Causality through Control 34

Conditions 39

Making the Model Operational 40

Target s Behavioral Loyalty Model 40

Simple versus Complex Models 42

Summary 43

Notes 43

Chapter 3: Operationalizing Strategy 45

Conceptual to Operational 45

Operational Definitions 48

From Strategy to Action 53

Microsoft s DCS and Fail–Fast Mentality 53

Experiments and Decisions 54

Managing Decision Risk 57

Using Big Data Effectively 59

Summary 63

Notes 64

Part Two: Big Data Strategy

Chapter 4: Creating a Big Data Strategy 69

Avoiding Data Traps 70

An Airline Falls into a Data Trap 71

Creating the Data Strategy 73

Summary 83

Notes 83

Chapter 5: Big Data Acquisition 85

Measurement Quality 88

The Truth and Big Data 89

Acquiring Big Data 90

Making Good Choices 98

The Special Challenge of Salespeople 99

Summary 100

Notes 101

Chapter 6: Streaming Insight 103

The Model Cycle 103

Applications of Statistical Models 108

Types of Data Types of Analytics 112

Matching Data to Models 113

Summary 118

Chapter 7: Turning Models into Customers 119

Mac s Avoids Mindless Discounting 120

Decision Mapping 121

Conversations and Big Data 123

Cascading Campaigns 127

Cascading Campaigns Accelerate Learning 130

Accelerating the Process with Multifactorial

Experimental Design 131

Summary 133

Notes 133

Chapter 8: Big Data and Lots of Marketing Buzzwords 135

Customer Experience Management 136

Value and Performance 138

Performance, Value, and Propensity to Relate 140

Responsiveness 142

Citibank MasterCard Responds at Market

Level 143

Transparency 144

Community 146

Cabela s Journey to Customer Experience 147

Summary 149

Notes 150

Chapter 9: Big Data Metrics for Big Performance 151

The Big Data of Metrics 152

Variation and Performance 154

Creating a Tolerance Range 156

Visualization 158

Creating the Right Metrics 164

Summary 170

Notes 170

Part Three: Big Data Culture

Chapter 10: The Near–Simultaneous Adoption of Multiple

Innovations 173

Building Absorptive Capacity 176

People, Process, and Tools 177

Managing the Change 183

Empowering Your Entrepreneurs 188

Konica–Minolta s Awesome Results 190

One Result: Customer Knowledge

Competence 191

Global Implementation 193

Summary 194

Notes 195

Chapter 11: Leading (in) the Dynamic Customer Culture 197

Leadership, Big Data, and Dynamic Customer

Strategy 198

Leadership and Culture 203

Movements 207

Exploiting Strategic Experimentation 212

Big Data, Big Decisions, Big Results 213

Notes 213

Afterword 215

Additional Readings 219

About the Author 221

Index 223

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JOHN F. JEFF TANNER, JR., PHD, is Professor of Marketing and the Executive Director of Baylor University s Business Collaboratory. His work has appeared in the Journal of Marketing, Journal of the Academy of Marketing Science, and the Journal of Business Research. He has authored and coauthored 15 books. Tanner is a consultant to companies such as IBM, Pearson Prentice Hall, Cabela s, and the federal government. He serves on the board of directors of several companies and nonprofits.

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