100 words
What is the “next best offer” (NBO), in order to answer the post question, we must first be able to identify what the NBO is. “The NBO is a targeted offered or proposed action for customers based on the: Analyses of their past shopping behavior, other customer preference, attributes and life stages, purchasing context, and attributes of the products or services from which they can choose.” (Davenport et al., 2012) Using analytics to craft and mold a better targeted approach to consumers will result in a higher return or success rate. NBO’s are based on the customer’s tendencies and preferences. This information is acquired through previous interactions and experiences with said company, or company A buys this information from company B, C, etc. The derived information allows for company A to tailor its approach for continue use of services or sale of goods. The issue presently at hand, is that NBOs are being seen as the “new junk mail” (Davenport et al., 2012), in that they are not tailored or customized but rather shot gun blasted out into the either hoping to return revenue based on casting a wide net. The aspect of knowing one’s customer has fallen by the wayside and has been replaced by mass marketing and saturation advertising. NBOs will be the future, and even though the data is out there to make a more customized approach this is rarely done. As global commerce continues to grow and analytical data is there for the taking, companies will spend more and more time and development and utilization of such. There are massive counts of “clicks” every second that lead to behavioral patterns. These patterns provide the blueprints for companies to develop a dialogue with their potential customers. The relationship between the two is not one of a long build from the customer perspective, but rather one that has been built behind the scenes by the computation of a massive digital footprint and path left by the consumer and analyzed by the company. The NBO has it was envisioned originally will be made whole by the employment of resources and assets that will truly execute more targeted approaches. The information available is still mismanaged and under used.
Sincerely,
Matthew
Davenport, T., Lucker, J., & DalleMule, L. (2012). Enterprise Analytics: Optimize Performance, Process, and Decisions Through Big Data. Pearson. https://learning-oreilly- com.ezproxy1.apus.edu/library/view/enterprise-analytics-optimize/9780133039498/ch6.html
