DRIVING a car using the rear-view mirror is never a good idea. But that’s what the Bank of England’s rate-setters do month after month, as they decide whether to stick or twist on the economy. Privately one of the biggest gripes of policymakers is waiting for data crucial to getting a handle on what’s going on. A case in point are the jobs figures for the three months to January, which only just turned up this week. Contrast that with the much more timely figures released within days of the month’s end in the US. By and large, the only reasonably prompt data the monetary policy committee has to work with are the purchasing manager indices on construction, manufacturing and services produced by IHS Markit, formed from relatively small samples, until the official figures trundle along weeks later. And as former Bank of England deputy-governor Sir Charlie Bean pointed out in his review of the nation’s number-crunchers in 2016, the “longer a … [Read more...] about Russell Lynch: Old fashioned number-crunchers set for data revolution
Retail big data use cases
The computer scientist and entrepreneur explains how his technology empowers banks, retailers, and other businesses. The Oracles Published 12:00 pm CST, Friday, January 25, 2019 Photo: Yaniv Altshuler Photo: Yaniv Altshuler Image 1 of / 1 Caption Close Image 1 of 1 Photo: Yaniv Altshuler Yaniv Altshuler Uses Big Data and Artificial Intelligence to Predict Consumer Behavior 1 / 1 Back to Gallery In this series called Member Showcase, we publish interviews with members of The Oracles. This interview is with Dr. Yaniv Altshuler, founder and CEO of Endor, which improves business decisions and revenue by predicting consumer behavior. It was condensed by The Oracles. Who was your biggest … [Read more...] about Yaniv Altshuler Uses Big Data and Artificial Intelligence to Predict Consumer Behavior
Visit The Boston Globe Share on Twitter Share on Facebook Comment on this Scroll to top of page By Noam Scheiber New York Times April 03, 2017 The secretive ride-hailing giant Uber rarely discusses internal matters in public. But in March, facing crises on multiple fronts, top officials convened a call for reporters to insist that Uber was changing its culture and would no longer tolerate “brilliant jerks.”Notably, the company also announced that it would fix its troubled relationship with drivers, who have complained for years about falling pay and arbitrary treatment.“We’ve underinvested in the driver experience,” a senior official said. “We are now re-examining everything we do in order to rebuild that love.” Advertisement And yet even as Uber talks up its determination to treat drivers more humanely, it is engaged in an extraordinary behind-the-scenes experiment in behavioral science to manipulate them in the … [Read more...] about How Uber uses psychological tricks to push its drivers’ buttons
On Black Friday in 2018, online spending in the U.S. leapt 24 percent from the previous year. By contrast, in-store sales fell by 7 percent and footfall was down 9 percent. These numbers might give the impression that brick-and-mortar stores are losing relevance with consumers, but several successful online-only retailers are actually opening physical shops — and traditional brands can learn from them by looking at why and how they’re doing it. There are many reasons for online-first retailers to add an offline presence. For one thing, physical retail still accounts for about 85 percent of global business-to-consumer commerce. And although digital retail is growing, so is in-store retail. PwC’s 2019 Global Consumer Insights Study — to be released soon — shows that 24 percent of consumers regularly used mobile to shop in 2018, compared with 11 percent in 2014, and 49 percent regularly shopped in a physical store in 2018, versus 36 percent in 2014. Stores … [Read more...] about Digital-Native Retailers Are Giving Physical Stores a Radical Makeover
PUBLISHED: 11:22 17 January 2019 | UPDATED: 11:31 17 January 2019 Daniel Whytock Today, shoppers want the best of the on and offline world. Picture: PAUL GEATER Archant Daniel Whytock from www.downyourhighstreet.com discusses what tech is likely to impact the retail sector in the coming years. Retail tech is moving fast and high street retailers must act or get left behnind . Picture: GREGG BROWNIs online shopping truly causing the end of high street shopping? Amazon is investing in brick and mortar stores, which suggest that the high street still has a place in our shopping future. As consumers we want the best of both on and offline worlds and more: convenience, choice, and a diverse range of shops and businesses.As grim as things appear to be on the UK high street today, there is a way back - omni-channel retail that seamlessly integrates digital technology is the key to high street survival.But retail tech is moving so quickly that if high street … [Read more...] about How can high streets retailers make best use of technology?