Analytics adoption among European mid-market retailers is more advanced than their US counterparts, according to a survey by cloud-based predictive marketing company, AgilOne.
It found European retailers are not necessarily using predictive analytics as much as their American counterparts, however, their use is significantly more advanced.
Based on the survey findings, AgilOne was able to identify some key data about European retailers’ use of predictive analytics:
- Fewer European retailers are using predictive models than those based in the US; however, of those using them, European companies are using them in more channels and in more ways than their US counterparts
- Most US-based retailers are only using predictive models for email, whereas, half of European companies are also using predictive models for direct mail and call centres
- European retailers are either using predictive models or do not plan to use them at all. The respondents were evenly split (45.5% each), with the remaining 9% planning to begin using them in the next 12 months
Customer Data Management
- Europeans are behind when it comes to setting up a central customer data warehouse, with only 36% of having done this, compared with 51% of American retailers. Although, 27% of European retailers plan to build one in the next 12 months
- Europeans are also behind with regard to linking customer data across channels to a single customer ID with only 36% having done this compared to 50% of American retailers. However, on a positive note, 45% of European retailers plan on doing this in the next 12 months
“It is interesting to see the differences in marketing approaches on both sides of the Atlantic,” said Omer Artun, CEO of AgilOne. “It seems US retailers could learn from some of the advanced predictive analytics methods European retailers are using today, and there is certainly room for the European market to grow in their use of big data marketing. There is a significant opportunity for European companies to take advantage of predictive analytics to gain customers for life.”
Paul Gibson, regional director of EMEA at AgilOne, said: “Europeans are using predictive analytics more and more, creating very advanced campaigns. We expect to see expanded adoption in 2014. The retailers using predictive analytics to predict their buyer’s next move will greatly set themselves apart from the competition.”
To learn more about AgilOne’s survey findings and 2014 predictions, Retail Times’ readers can register for a webinar titled, “Insights from AgilOne’s Data-Driven Marketing Survey,” that will take place on 16 January 2014 at 4.30pm GMT.