The current retail environment is making it tough for brick and mortar businesses to attract and retain customers.
Understanding your customer doesn't stop at knowing what they like and dislike, but also requires knowing how to reach them. To stay relevant, retailers need to implement more effective marketing tactics, both online and offline. External data enriches internal information to create more compelling shopping experiences, market more effectively to existing and prospective customers, optimize store locations, and forecast store traffic.
Consolidating external data for analytics is resource and time consuming Explorium’s External Data Platform centralizes access to public, premium, and proprietary external data for business analysts, data scientists, and business leaders
Transforming, matching, and integrating external data is tedious work Explorium’s External Data Platform ML capabilities automatically match and integrate external data with your internal data accelerating time to value
Assessing the value of external data is inexact Explorium’s External Data Platform identifies the relevant external data signals and calculates the uplift in your ML models before deployment
The right external data is a competitive advantage.
Understanding the broader trends in the market and including them in predictive models improves their performance. Enrich your internal data with external data signals to gain better insights and improve business outcomes. Learn more
Improve Ad Retargeting
Many retailers enhance their brick and mortar locations with an online presence. Deciding where to allocate marketing spend is driven by the behaviors, actions, and interactions that indicate a potential customer. Enriching internal customer data with external signals such as location based data (zip codes and IP addresses), geospatial financial indicators, and time series data on repeat visitors significantly improves your models to retarget customers.
Optimize marketing efforts through improved customer segmentation
Outlining ideal customer profiles is essential to optimizing marketing campaigns. Relevant external data helps send the right message at the right time to improve conversions. Enrich your internal data to better understand and target customers.
Many retailers still have catalogs and other promotions they mail to prospects and customers. Despite the shift to digital marketing, direct mail campaigns are still effective. Given the increasing cost of postage, targeting the right recipients is imperative to maximize ROI. Combining your internal customer and engagement data with external sources such as Census, internet behavior, purchase behavior, hobbies, and interests gives richer insights on who is more likely to engage and boost response rates.
Explorium’s External Data Platform improves analytics and machine learning. Explorium enables organizations to automatically discover and use thousands of relevant data signals to improve predictions and ML model performance. Explorium’s External Data Platform empowers data scientists and analysts to acquire and integrate third-party data efficiently, cost-effectively and in compliance with regulations.
Information that is available from government records and other sources available to the general public.
We partner with established tier 1, 2, and 3 data aggregators and niche data providers to source premium data. Data aggregators provide raw and modeled data.
Data we acquire, process, and standardize to create derived data. Derived data can be used to enrich internal data and build new or existing ML models
Example data signals for Retail
Review based information:
Business rating and reviews
Average pricing of businesses in area
Consumer Interests and habits:
Interests by industry: apparel, groceries, music, sports, gifts, art, culture, and more
Number of businesses nearby by category
Foot traffic information: number of visits in the area, places people visited on the same day, etc.
Tourist attributes: hotels and attraction characteristics (number of hotel rooms in an area, etc.)
View our Data Gallery to see more examples and learn more.
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