From geospatial data to purchase histories and social media posts, the vast amount of data generated every second is difficult to imagine, let alone harness. According to IDC, more than 5 billion consumers interact with data everyday, with that number forecasted to reach 6 billion by 2025. The exponential volume of data available has triggered a logical response from businesses, creating departments to capture and collate data, and key jobs such as data miners, analysts, scientists, and Chief Data Officers (CDO), responsible for extracting and analysing data, and developing data strategies within organisations. The challenge of making sense of the mind boggling amount of customer data has also led to the rise of full stack marketing research services.

How can you put the consumer at the heart of your pricing strategy? Econometric and price versus promotion models are limited as they can't model beyond what has occurred in the past. Lee Naylor explains how consumer behavioural models that determine how people make real choices provide more accurate forecasting of sales, revenue and profit.

Traditional loyalty schemes are outdated. Businesses can engender customer loyalty without rewards points systems. It starts with understanding the difference between attitudinal and behavioural loyalty, and then identifying programs to encourage both.

With Byron Sharp’s thinking taking a hold with many marketers, APAC MD Lee Naylor tells us why he has a bone to pick with those who believe segmentation is just an “old school” marketing doctrine.