Customer data science expert dunnhumby believes that retailers must consider how to address the challenges and opportunities of the changing data privacy landscape if they are to stay ahead of the competition.
LONDON – July 3, 2018 – New research conducted by dunnhumby reveals that retailers have been so focused on compliance and the threat of hacking that many are failing to consider the wider implications of growing consumer awareness, not just of data privacy rights, but of the value of their personal data.
It may not be rocket science, but it is data science. Define your value proposition
Gathering data isn’t the hard part; figuring out which data to pay attention to is, says Jose Gomes, managing director of North America for dunnhumby, a global customer data science company. Gomes says the best way to identify the data that makes a difference is to start by defining your organization’s unique value proposition.
When Cleveland-based Heinen’s Fine Foods opened a store in an old bank building three years ago it wasn’t the type of move a larger company could or would have made. However, the small family owned Heinen’s chain is able to move faster and do thing differently and faster than larger companies, as Tom and Jeff Heinen, brothers and co-owners of the 23 unit chain explain in the second episode of dunnhumby’s online reality series, The Prophets of Aisle Six.
Can data science make the difference between winning and losing in retail? Dunnhumby’s answer is yes – but with a big catch. You have to get the value proposition right. Their Retail Performance Index explains why.
MADISON, WIS., GrocerKey, a full-stack eCommerce platform specifically built for the needs of grocery retailers, has secured a new $2.5M round of financing with participation from Woodman’s Markets, dunnhumby Ventures, and other prominent Midwest angel investors. Woodman’s Markets led the round. The total invested in GrocerKey since 2015 is now $4.2M.
Although it has skyrocketed in channels offering more durable goods in recent years, online shopping in the grocery channel still remains relatively niche. So what must grocers do to play their part in ushering grocery ecommerce into the mainstream?