How Big Data Can Help Predict Consumer Taste

How Big Data Can Help Predict Consumer Taste
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How Big Data Can Help Predict Consumer Taste
Art Peck became the chief executive officer (CEO) of Gap Inc. in February 2015. He served as the President of Growth, Innovation, and Digital and helped the company implement its digital strategy by incorporating an analytical approach. Peck realized that using Google Trends, Google Analytics, and social media would enable Gap Inc. to mine crucial customer data relevant to decision-making and more effectively than relying on the product design approval by creative directors.
“Predicting Consumer Tastes with Big Data at Gap” by Ayelet Israeli and Jill Avery has numerous important lessons. First, the most significant lesson is that the mining of big data can help a firm know what to offer to its potential customers. Social media, Google Analytics, and Google Trends are among good online platforms that a company can use to collect information about its products and services on the Internet. Second, digital capabilities facilitate omnichannel shopping by digitizing a firm’s product inventory and services. In that light, consumers can browse, receive, purchase, and order various goods across channels. Third, data-driven decision-making can help a business to use big data to understand its consumers’ behaviors and work toward improving customers’ experiences. For example, by using “voice of the customer” initiatives, a company can refine and test new product features by listening to and tracking consumers’ feedback on the web (Israeli & Avery, 2018). Lastly, a firm can use big data to send customized notifications to its customers. Geosniffing can enable a company to know its customers' physical location and send crucial localized information in real-time.
Big data plays a significant role in helping a firm to analyze its customers. When a company starts mining big data, it gets relevant...