Monday May 21, 2012

Target Uses Analytics To Predict Customer Buying Behavior

Next Saturday when you open your mailbox and sift through the advertisement campaigns; you'll think twice about how much information your favorite retail store knows about you. Many large retail stores are using the latest in technology to predict buyer behavior. In this link below, written by The New York Times, read about how Target is using the power of analytics combined with data scientists to come up with "predictive buying patterns" so detailed that they can predict a woman's pregnancy sometimes before she tells her family. Forbes magazine suggest that target has seen 23 billion in increased revenue since the start of the analytics project.

For the short and to the point version-click this link from Forbes.

http://www.forbes.com/sites/kashmirhill/2012/02/16/how-target-figured-out-a-teen-girl-was-pregnant-before-her-father-did/

For more detailed information on predictive buying research- click the link below from NY Times.

\http://www.nytimes.com/2012/02/19/magazine/shopping-habits.html?pagewanted=all

 

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