Analytics and dynamic customer strategy : big profits from big data

256 Pages·2014·8.48 MB·English

by  John F. Tanner Jr

Analytics and Dynamic
Customer Strategy

Analytics and
Dynamic
Customer Strategy
Big Profits from Big Data
John F. Tanner Jr.
Coverimage:©iStockphoto/RomanOkopny
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LibraryofCongressCataloging-in-PublicationData:
Tanner,JohnF.
Analyticsanddynamiccustomerstrategy:bigprofitsfrombigdata/JohnF.(Jeff)Tanner,Jr.
pagescm
Includesindex.
ISBN978-1-118-90573-9(Hardcover) — ISBN978-1-118-91978-1(ePDF) — ISBN
978-1-118-91977-4(ePub) — ISBN978-1-118-91976-7(oBook)1.Customerrelations.
2.Relationshipmarketing.3.Bigdata.I.Title.
HF5415.5.T362014
658.8′34—dc23
2014005246
PrintedintheUnitedStatesofAmerica
10987654321
This book is dedicated to Tom Leigh,
formerly the Charles M.
and Emily H. Tanner Chair
in Sales and Professor Emeritus
at the University of Georgia,
who got this all started.

Contents
Foreword xi
Preface xv
Acknowledgments xvii
Part One: Big Data and Dynamic Customer Strategy
Chapter 1: Big Strategy for Big Data 3
Beyond the Hype 4
The Value of Accelerated Learning 6
Introducing Dynamic Customer Strategy 7
DCS Complements Design School 19
Barriers to Big Data and DCS 20
Summary 24
Notes 24
Chapter 2: Mapping Dynamic Customer Strategy 27
Theory as Strategy 28
Concepts 29
Relationships 31
Establishing Causality through Control 34
vii
viii CONTENTS
Conditions 39
Making the Model Operational 40
Target’s Behavioral Loyalty Model 40
Simple versus Complex Models 42
Summary 43
Notes 43
Chapter 3: Operationalizing Strategy 45
Conceptual to Operational 45
Operational Definitions 48
From Strategy to Action 53
Microsoft’s DCS and Fail-Fast Mentality 53
Experiments and Decisions 54
Managing Decision Risk 57
Using Big Data Effectively 59
Summary 63
Notes 64
Part Two: Big Data Strategy
Chapter 4: Creating a Big Data Strategy 69
Avoiding Data Traps 70
An Airline Falls into a Data Trap 71
Creating the Data Strategy 73
Summary 83
Notes 83
Chapter 5: Big Data Acquisition 85
Measurement Quality 88
The Truth and Big Data 89
Acquiring Big Data 90
Making Good Choices 98
The Special Challenge of Salespeople 99
Summary 100
Notes 101
Chapter 6: Streaming Insight 103
The Model Cycle 103
Applications of Statistical Models 108
Types of Data—Types of Analytics 112