Despite the ever-increasing volumes of data available to companies, drawing meaningful insights from this data and then making appropriate strategic decisions, often still goes awry.
The issue with having huge volumes of data, is that there is also a vast number of data-driven solutions that could be applied to a business AND of this plethora of solutions only some are truly applicable and can be implemented successfully within the organisation.
This misinterpretation of data is particularly pertinent in companies using co-brand payment cards to generate customer loyalty.
This week Beyond Group CEO - Paul Alexander takes a look at 'Driving Spend with Big Data' at the AI Events - Moving from Crisis to Business Recovery: Co-brand & Travel Reward Cards Virtual Summit 2020.
Paul will explore how hotel companies and airlines who have recently introduced new co-branded credit/payment cards, can maximise insights and uncover new opportunities for growth.
Commonly co-brand cards give a more holistic view of the customer, by understanding both the consumer's buyer behaviour with your brand and with your competitors. If used strategically, this broader understanding of the customer enables businesses to modify their customer acquisition and retention strategy, through better targeting and engagement as well as leveraging their partners more effectively.
Paul will explore how at Beyond Analysis, we identify the most meaningful data-driven solutions that will deliver tangible outcomes to transform a business, from driving top-line revenue growth to reducing costs and uncover how we find solutions that truly matter, that can be implemented successfully without rejection and that make a difference to businesses.
'Driving Spend with Big Data' provides real world examples of where we have implemented AI and Machine Learning powered solutions that deliver results for our clients. Paul will also show how these solutions could support the travel industry in boosting their own performance, by implementing a number of tactics including but not limited to:
Demand forecasting,
Improved pricing, offers and personalised recommendations,
Optimised media and marketing spend...
"Combining the data helps commercial and marketing teams fill in the blanks in their knowledge and provides evidence-based insights into the most effective commercial strategies and media channels".
To find out more about the event visit the AI Events site or contact us to speak to one of our team of experts on how to drive spend with big data within your business.
