The Business of People: How the Right Analytics Bring Retailers Closer to Customers

It is interesting how we use words like customer and consumer to refer to people who purchase goods and services from our companies. I recently heard the term "B to P" instead of "B to C" which really caught my attention.

The quest to have a closer, more relevant relationship with people who purchase goods and services from us is about understanding human behavior. And in that quest, many distractions await - data storage systems and in-store gadgets with cool features but little to offer when it comes to connecting with customers - and connecting customer data - at a personal level.  Retailers who focus their software investments on solutions that aim to understand customers' behaviors and interests will not only foster more meaningful relationships, but will make their best customers even better.

I can see how retailers are chasing the hype of social networking, mobility and such things as clienteling to get ahead of competition without really understanding the core drivers. At the core, people generally behave on fairly predictable terms so it is important to understand what levers you have as a retailer to drive these behaviors and with whom you choose to pull those levers. 

Technology is a wonderful thing and provides many improvements to our lives and even how we purchase things. Understand though that technology is a tool and as a retailer you need to first understand and know who your customers are and what makes them tick as it pertains to your offerings. So before running off and buying some expensive new gadget for your stores, think hard about how it will help drive your core mission and value proposition. ...