The world is increasingly complex, instrumented and virtual. There’s vast amounts of information about consumers and the factors that influence their behavior that simply didn’t exist in the data warehouse era. Here, we take a closer look at how all this data will affect retail when it comes together with recent technology trends.
When it comes to personal banking and our interactions with the ‘Big 4’ banks, research by Nielsen and Commercial Radio Australia, using Nielsen Consumer & Media View, reveals that 69% of Australian radio listeners say they are very or quite satisfied with their main financial institution (MFI); while 6% say they are not very or not at all satisfied.
The variety and increasing scale of data, as well as the scope of activity it is meant to inform, demands a solution that goes well beyond a simple enterprise data warehouse. So what might that more robust solution look like?
Ethnic-Australians’ spend on FMCG retailing is growing at a faster rate than their Australian-born counterparts. In the next five years, this important group of consumers will contribute a total of $18.7 billion (or 28%) in sales for the grocery sector. This represents an increase of $4.4 billion in incremental revenue, with Asian-born consumers making up 57% of this growth.