Canadian Retailer - The Marketing Issue - 51

"ANALYTICS CAN LEVERAGE DATA TO REVISE BUYING MODELS, SUPPLEMENT INTUITION WITH
DIGITAL FORECASTS. ANALYTICS CAN HELP ANTICIPATE CUSTOMER DEMAND BY IDENTIFYING
FACTORS THAT MIGHT AFFECT CONSUMER NEEDS."

- KEN DOBELL, Light Reaction

might affect consumer needs." explains Ken
Dobell, General Manager at Light Reaction, a
Canadian media company that is a leader in integrating data to benefit digital media campaigns.
Analytics help retailers to know how much
to purchase on a chain-wide level, but also how
much stock to send to individual stores by examining shopping patterns of neighbourhoods and
communities to forecast their needs. For example,
data analytics might indicate an increase in growing families in a given community, enabling area
retailers to properly plan their merchandise.
"Analytics will also help you get the best price
for products, telling retailers how low they need
to go to sell out and get the most profit for items
on clearance," Schafer says "Experience might
tell you that you need to go as low as 50 per cent,
but analytics might say you'd still quickly sell
out-and make greater profit-at 60 per cent."
Making such informed inventory management
decisions is something that can only be done by
leveraging information mined from big data.

www.retailcouncil.org/cdnretailer

864346_Xaxis.indd 1

Is Data Replacing Intuition?

Big data is revolutionizing retail, and will
continue to do so as the technology evolves and
is further adopted by retailers. So has the cold efficiency of plastic and microchips supplanted the
warmth of human experience and intuition? Has
the computer replaced the executive in running
retail in the 21st century?
Hardly, says Dobell: "I had a conversation with a
Chief Information Officer in the aviation industry
a while back. The conversation was about Captain
Sullenberger, the pilot who landed the jet in the
Hudson River. He asserted the AI in the cockpit
would never have made that call, and he's right.
But it's also true that the onboard software allowed
Sully to make that landing because it handled all
the computations for him. Retail is like that, math
plus guts and intuition. There's a human element to
retail, but math is an amazing asset to leverage."
Schafer agrees with Dobell: "retail is an art,
but we're also recognizing that we need to bring
science into it as well."

THE MARKETING ISSUE

RETAILER
| CANADIAN
12/05/17
11:35 pm| 5 1


http://www.lightreaction.com http://www.lightreaction.com http://www.retailcouncil.org/cdnretailer

Table of Contents for the Digital Edition of Canadian Retailer - The Marketing Issue

Publisher’s Desk
Retail Currents
Under the Banner
Retail: At Issue
Canada Post Wins Prestigious ‘Retail Innovation’ Award
Read a Flyer: Read a Consumer
Millennial Engagement
The Alliance With the Mostest
Evolving With the Times
Social Nation
Marketing to Millennials— Every Segment of Them
Big Data Represents Big Opportunities for 21st Century Retail
Advertisers’ Index
Canadian Retailer - The Marketing Issue - Intro
Canadian Retailer - The Marketing Issue - cover1
Canadian Retailer - The Marketing Issue - cover2
Canadian Retailer - The Marketing Issue - 3
Canadian Retailer - The Marketing Issue - Publisher’s Desk
Canadian Retailer - The Marketing Issue - 5
Canadian Retailer - The Marketing Issue - 6
Canadian Retailer - The Marketing Issue - Retail Currents
Canadian Retailer - The Marketing Issue - Under the Banner
Canadian Retailer - The Marketing Issue - 9
Canadian Retailer - The Marketing Issue - Retail: At Issue
Canadian Retailer - The Marketing Issue - 11
Canadian Retailer - The Marketing Issue - Canada Post Wins Prestigious ‘Retail Innovation’ Award
Canadian Retailer - The Marketing Issue - insert1
Canadian Retailer - The Marketing Issue - insert2
Canadian Retailer - The Marketing Issue - 13
Canadian Retailer - The Marketing Issue - 14
Canadian Retailer - The Marketing Issue - 15
Canadian Retailer - The Marketing Issue - 16
Canadian Retailer - The Marketing Issue - 17
Canadian Retailer - The Marketing Issue - 18
Canadian Retailer - The Marketing Issue - 19
Canadian Retailer - The Marketing Issue - Read a Flyer: Read a Consumer
Canadian Retailer - The Marketing Issue - 21
Canadian Retailer - The Marketing Issue - 22
Canadian Retailer - The Marketing Issue - 23
Canadian Retailer - The Marketing Issue - 24
Canadian Retailer - The Marketing Issue - 25
Canadian Retailer - The Marketing Issue - Millennial Engagement
Canadian Retailer - The Marketing Issue - 27
Canadian Retailer - The Marketing Issue - 28
Canadian Retailer - The Marketing Issue - 29
Canadian Retailer - The Marketing Issue - 30
Canadian Retailer - The Marketing Issue - 31
Canadian Retailer - The Marketing Issue - 32
Canadian Retailer - The Marketing Issue - 33
Canadian Retailer - The Marketing Issue - The Alliance With the Mostest
Canadian Retailer - The Marketing Issue - 35
Canadian Retailer - The Marketing Issue - 36
Canadian Retailer - The Marketing Issue - 37
Canadian Retailer - The Marketing Issue - Evolving With the Times
Canadian Retailer - The Marketing Issue - 39
Canadian Retailer - The Marketing Issue - 40
Canadian Retailer - The Marketing Issue - 41
Canadian Retailer - The Marketing Issue - Social Nation
Canadian Retailer - The Marketing Issue - 43
Canadian Retailer - The Marketing Issue - 44
Canadian Retailer - The Marketing Issue - 45
Canadian Retailer - The Marketing Issue - Marketing to Millennials— Every Segment of Them
Canadian Retailer - The Marketing Issue - 47
Canadian Retailer - The Marketing Issue - 48
Canadian Retailer - The Marketing Issue - Big Data Represents Big Opportunities for 21st Century Retail
Canadian Retailer - The Marketing Issue - 50
Canadian Retailer - The Marketing Issue - 51
Canadian Retailer - The Marketing Issue - 52
Canadian Retailer - The Marketing Issue - 53
Canadian Retailer - The Marketing Issue - Advertisers’ Index
Canadian Retailer - The Marketing Issue - cover3
Canadian Retailer - The Marketing Issue - cover4
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