IBM on Big data in retailing:
http://www-935.ibm.com/services/us/g...g-data-retail/
Quote:
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We found that 62 percent of retailers report that the use of information (including big data) and analytics is creating a competitive advantage for their organizations, compared with 63 percent of cross-industry respondents. We also discovered that retailers are taking a business-driven and pragmatic approach to big data. The most effective big data strategies identify business requirements first, and then tailor the infrastructure, data sources and analytics to support the business opportunity.
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Big data is mainstream, not some fanciful dream.
Amazon is not alone in profiling customers by tracking their on-site behavior.
Anybody remember Target's little pregnancy test adventure?
http://www.forbes.com/sites/kashmirh...er-father-did/
Quote:
Every time you go shopping, you share intimate details about your consumption patterns with retailers. And many of those retailers are studying those details to figure out what you like, what you need, and which coupons are most likely to make you happy. Target, for example, has figured out how to data-mine its way into your womb, to figure out whether you have a baby on the way long before you need to start buying diapers.
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And here is a source from the center of the universe;
http://www.nytimes.com/2012/02/19/ma...ted=1&_r=2&hp&
Price elasticity is real and so is customer profiling.
However, you need a direct relation with the customer, which is something the corporate publishers gave up decades ago.
http://www.salon.com/2014/06/19/why_...with_hachette/