Overstock is boosting its customer journey analysis through a partnership with Teradata, a cloud-based data and analytics company. The e-Commerce retailer will leverage data from the Teradata Path Analysis program to reduce unnecessary marketing spend and identify customer loyalty opportunities.
“Teradata is helping Overstock visually analyze and understand customer behavior,” said Joe Kambeitz, Vice President of Product Management & Marketing Analytics at Overstock in a statement. “Path analysis may sound like a simple concept, but it’s actually incredibly challenging to perform, especially in the hands of non-specialists. Anyone who has ever tried to unlock this type of analysis will understand — the visualizations and capabilities of this solution make it extremely easy without sacrificing deep understanding.”
Teradata Path Analysis integrates information such as marketing and advertising costs with customer data from marketing campaigns and web site traffic, to identify the paths shoppers take to specific behaviors like making a purchase. The software will help Overstock track the habits of specific shoppers, for example those who might be interested in joining the Club O rewards program.
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