• Advertising Age reports that American Express has developed a new program “that will harness transaction data for its 90 million cardholders to inform both marketing decisions and larger strategic issues,” drilling down on consumer buying decisions to help retailers improve their “customer service management, product innovations, improved procurement and geographic expansion.”
According to the story, “Transaction-level data is particularly valuable for its detail, as well as its ability to predict what people will spend on. Forrester Research analyst David Frankland said that while a person can say they like swimming, for a marketer, a stronger indicator is whether they join a health club with a pool. Joining a swimming club is even more predictive, and buying swimming gear is more predictive than that.”
According to the story, “Transaction-level data is particularly valuable for its detail, as well as its ability to predict what people will spend on. Forrester Research analyst David Frankland said that while a person can say they like swimming, for a marketer, a stronger indicator is whether they join a health club with a pool. Joining a swimming club is even more predictive, and buying swimming gear is more predictive than that.”
- KC's View:
