Retailers must have a “data-driven view” of digital marketing in order to understand how technological advances will affect consumer behaviour, write Prabuddha De, Yu Jeffrey Hu and Mohammad S Rahman for MIT Sloan Management Review.
Consumers are purchasing more from mobile and online channels. So it’s important retailers understand how the technology they use affects consumer behaviour. The key to gaining this understanding is data.
North American academics Prabuddha De, Yu Jeffrey Hu and Mohammad S Rahman studied seven million purchases made by one million unique users of a medium-size women’s clothing retailer over three years, focusing on two months’ worth of data: 183,000 transactions and 52 million lines of server logs tracking consumer web activity.