Retailers benefit from behaviorally targeted sampling
What it means: “Big Data” has been one of the buzzwords of the retail industry for the better part of a decade, but so much of data’s importance is contingent on it being good, not just good enough. Quality data collection is increasingly more difficult to source, specifically in consumer data. The reality is that consumers no longer feel compelled to take surveys in the digital age, and that issue is even more pervasive among younger consumers. Consumer data often answers the why and how to support sales and financial transaction data, and finding solutions for consumer data contextualization is critical for retailers, market researchers and brands. Without the full 360-degree view of the consumer’s purchases beyond the sale, retailers could be left in the dark.
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