Business Change through Predictive Analytics
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The document discusses how predictive analytics can drive business change and transformation. It provides an overview of how a large UK retailer transformed from a catalogue business to a digital retailer through the use of predictive analytics over several decades. Key applications of predictive analytics discussed include forecasting, personalization, risk prediction, campaign modeling and response prediction. The retailer was able to increase revenue, engagement, agility and efficiency through incremental use of predictive analytics.
![Business Change through Predictive Analytics
Chandan Rajah [@ChandanRajah]
Head of Group Analytics](https://image.slidesharecdn.com/sdbusinesschangethroughpredictiveanalytics20151123-151207145912-lva1-app6892/85/Business-Change-through-Predictive-Analytics-1-320.jpg)
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Business Change through Predictive Analytics
- 1. Business Change through Predictive Analytics Chandan Rajah [@ChandanRajah] Head of Group Analytics
- 2. @ChandanRajah ANNUAL SALES £1.8 billion PROPORTION OF SALES ON MOBILE 59% DAILY WEBSITE VISITS >1 million about us profits up 78% 4m+ users 48m+ products GOOD THINGS EASILY ACCESSIBLE TO MORE PEOPLE
- 3. @ChandanRajah business change customer economy growth disrupt technology
- 5. @ChandanRajah road to el dorado what why when how
- 7. 1890+ stores launch 1970s home shopping prospect prediction 1980s credit scoring risk prediction telephone ordering @ChandanRajah
- 8. 1990s launch ecommerce goods lost in transit stock forecasting campaign modeling response prediction 2010s mobile first, catalogue stopped personalization price elasticity customer value projection incremental campaign response cross brand prospecting @ChandanRajah 2000s lifetime value markdown estimation operations + returns ensemble methods contact center very.co.uk launched
- 10. @ChandanRajah 2003-07 Integration and consolidation 2007-12 Catalogue to e-tail capabilities 2013 onwards Very - explosive growth +20% SURVIVAL-LED BUSINESS-LED CUSTOMER-LED TRANSFORM A CATALOGUE BUISINESS INTO A WORLD CLASS DIGTIAL RETAILER 100% digital our transformation
- 11. @ChandanRajah last words of wisdom time value of data knowledge is power not all road lead to rome i am an individual
- 12. @ChandanRajah THANK YOU Chandan Rajah Head of Group Analytics
Hinweis der Redaktion
- Annual results FY ending June 30 2015 Group sales up 3% to £1.8bn (2013/14: £1.7bn) Very.co.uk delivered sales growth of 21.1% with more than £850m in sales Very.co.uk mobile device sales growing +51% Very.co.uk mobile sales are 59% of total online sales, which is 17 points ahead of the market Web traffic has now broken the 1 million per day mark, landing on a resilient and stable site
- We’ve been through massive transformation over the last decade We’ve moved from a business who’s channels were catalogues and stores to an pureplay online one (no more catalogues from July 2015) 10% online 2002 to c. 86% online in 2014 We’ve turned our first profit in a decade – from -£58m in 2012 to +£7m in 2013 and now £71.7m We’re now 100% focused on our ambition to become a truly world class digital retailer and recognise that that requires us to reorient our business around the customer Our flagship brand, Very.co.uk, continues to grow north of 20% year on year and our heritage brand Littlewoods continues to be hugely important for us and our customer. In February 2015 we launched Very Exclusive and are pleased with its progress. These are the brands that we are focusing on for the future