Free Trial

Safari Books Online is a digital library providing on-demand subscription access to thousands of learning resources.

Share this Page URL
Help

CHAPTER 3 Prediction Logic: Analytics fo... > CHAPTER 3 Prediction Logic: Analytic... - Pg. 68

68 Part I: A New Way of Thinking and Acting analytics and prediction logic also provides emerging firms with a way to help larger retailers and product vendors solve problems for which they previously had no data. For example, Joshua Herzig-Marx's company, Incentive Targeting, has used analytics to gather new and unusual data on retail grocery customers. Herzig-Marx's firm is able to provide clients and product vendors with data-driven answers to questions about customers and innovation: We get asked all the time, "What else do people who buy my prod- uct buy?" Or, "If a customer bought my product last month, how many of them are going to buy again next month?" Another sort of question companies ask about is whether they should extend a product category like "organic." For instance, a common type of question is "Are new parents who buy a lot of organic products more likely to respond to an offer for organic diapers?"