Insight Session

Transforming Big Data into Big Value: How well prepared are you?

Crowne Plaza Hong Kong Causeway Bay
September 7, 2018
Hong Kong

Transforming Big Data into Big Value: How well prepared are you?

Leveraging technology to improve the customer experience, develop long-term customer loyalty and retention and increase profits

Event Date:
September 7, 2018
through
Contact:
Ellen Quek
ellen.quek@opengovasia.com
Event location:
Hong Kong
Hong Kong

Registration

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Speakers

Venue Location

Crowne Plaza Hong Kong Causeway Bay

 8 Leighton Rd, Causeway Bay, Hong Kong

https://www.cphongkong.com/en-us/
Hong Kong
Hong Kong
The Venue details have yet to be announced.

Agenda Information

Interested in getting the Agenda for this event? Request a copy from our staff (opengov@opengovasia.com):

Who should attend?

  • Chief Executive Officers
  • Chief Information Officers
  • Chief Operating Officers
  • Chief Marketing Officers
  • Chief Technology Officers
  • Chief Data Scientists
  • Chief Data Analytical Officers                             

Topics Covered

  • Harnessing the potential of data driven system-wide cost reduction, adaptive supply chains and creating unique and compelling online and in-store customer experience
  • Integrating big data with data modelling to generate actionable business insights for inventory management, pricing, marketing and merchandising
  • How can analytics help in better customer segmentation, personalisation and cross-selling to increase sales and reduce churn?
  • Uncovering customer purchase patterns hidden within the mountain of data and the ability to disseminate that insight to the merchants and marketers
  • Providing a single customer view across all stores and the ability to better understand the buying behaviour of the shoppers and prospective customers
  • How to use big data for automation and personalisation of marketing campaigns?
  • Gaining insights in predicting customer behaviour and purchasing patterns to offering tailored products and better customer-targeting
  • Monetising data by forecasting demand to help retailers make use of data analysed, processed and built into the demand forecasting strategies
  • Develop     a foundation of business trust through data quality, governance, security and privacy
  • Make     analytics and insight part of your organisation’s     DNA for every person, action, business process and decision

Event Summary

                        Transforming Big Data into Big Value: How well prepared are you?

 

"Futurists in London in 1901 met to help prepare the city for the future in 1925. They discussed, researched and wrote a report that included a recommendation to prepare for a pressing need. The need was to get ready for 1 million horses that will be used for transportation in the city in 1925.” – Peter Sheahan, Founder and CEO of ChangeLabs

We have come a long way since the time we predicted the use of 1 million horses in 1925.

What has changed? How are we gearing ourselves to make better predictions and informed decision making? Are we well prepared to make intelligible use of data resources at our hand? Are we fully equipped to drive data into actionable insights and ultimately translating into profits and growth?

Big Data drives marketing today. Global brands are realising big gains from Big Data analytics by influencing consumer behaviour. Forbes stated that retailers who leverage on Big Data are able to increase their operation margins by 60 per cent.

Amid a rash of retail bankruptcies and store closures, companies making use of Big Data analytics are continuing to swiftly and unapologetically gain ground.

The question is how do you navigate the topsy-turvy seas of retail business? With shopper clearly in the driver’s seat, enabled by technology to remain constantly connected and more empowered than ever before to drive changes in shopping behaviour, the time has come to make use of powerful analytical tools and technologies in your hand to meet your business objectives.

“Everywhere and anywhere commerce” has become deeply entrenched allowing consumers to shop however, wherever, and whenever they want—whether in stores, online, by mobile, voice activation or click-and-collect. The challenge for retailers is to capture the right data, process at the right speed and take appropriate and necessary action.  

According to Google’s Zero Moment of Truth (ZMOT) research, 70% of consumers research online before purchasing in-store. This behavioural change means analytics must change - store and digital research data sets have to be connected to produce the real insight needed to understand how consumers research and respond to offers. 

Hong Kong's retail sector recorded its first annual growth since 2013, with sales up 2.2% to 446.1 billion Hong Kong dollars ($57 billion) in 2017. As predicted by Hong Kong Retail Association, Hong Kong’s retail sales will rise nearly 4% in 2018, continuing last year’s rebound – which stood at 3.2%. 

The time is now opportune to adopt a more structured approach to deliver richer customer experience by turning to big data - information that retailers can and are able to collect through every customer interaction, across every store, on different occasions, multiplied with different touch points and individual preferences — which they also combine with external data.

By pooling and integrating information from different data points, retailers can find out:

  • Who are the most valuable customers and how do we keep them engaged?  Who are customers who may potentially leave us and how do we win them back?
  • What drives them to spend more?
  • What products are gaining popularity? What products should we sunset?
  • How to improve engagement at every stage of the buying process?

A McKinsey report showed that when armed with advanced analytics, customer experience leaders gain rapid insights to build customer loyalty, make employees happier, achieve revenue gains of 5% to 10% and reduce costs by 15%-25% over two or three years.

OpenGov is pleased to bring an exclusive Breakfast Insight session to enhance your knowledge on how to effectively leverage technology to improve the customer experience, convey a consistent brand message, develop long-term customer loyalty and retention and increase profits in a hugely competitive retail market.

The unique proposition of this OpenGov Breakfast Insight is the integration of GAMIFICATION, our hugely popular scenario-based approach to learning. You will be learning while playing, gaining new and unique insights while having fun! OpenGov Breakfast insight sessions are concise, to the point, strategic level discussions designed to bring learning within a short span of 3 hours!

‍The joy of attending OpenGov Gamification at Breakfast Insights is apparent!

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