Big Data and Intuition: The future of Marketing

Gigaom

Technology isn’t only getting faster, it’s getting smarter. Computers are able to recognize and learn from patterns and make changes in real-time. Their improved analytic and decision-making abilities now allow them to outperform humans in areas such as medical diagnosis and customized marketing campaigns.

However, it’s hard for marketers to embrace data analysis when they’ve trusted their own gut to fuel decisions for so long. It’s a point of pride for many.  The problem is, the strategy frequently fails. A 20 year study of political pundits found that they were only as accurate as a coin toss, suggesting that successful “intuitive” decisions are often a lucky guess.

On the other hand, a McKinsey study found that companies who put data at the center of marketing and sales decisions improve marketing ROI by 15% – 20%. Data-driven personalization, in particular, can lift sales 10% or more. For example, Bank of America…

View original post 102 more words

Advertisements

Microsoft embraces bitcoin payments for digital purchases

Gigaom

You can’t buy a Windows Phone with bitcoin, but now you can buy Minecraft for that phone with bitcoin. Microsoft announced today that it will now accept bitcoin (via BitPay) as a payment method for digital purchases, like Xbox games or Windows Phone apps. It’s limited right now to items that can only be purchased through your Microsoft Account and only for U.S. customers — a pretty common move for companies who are testing the cryptocurrency waters.

View original post

Square hits $100M in sales in a single day

Gigaom

On Friday Square has had its first $100 million sales day, the company revealed today. The milestone comes just a month after CEO and founder Jack Dorsey revealed Square had handled its 1 billionth credit card purchase. Square has now processed a transaction on one of ever four active credit cards in the U.S., and according to the San Francisco companies own figures, if you were to look at its merchants as a collective, Square would be the 13th largest retailer in the U.S. right behind Best Buy.

View original post

Payments processor Klarna to spend at least $100M on US push

Gigaom

The Swedish online payments processor Klarna is pushing into the U.S., and it said late Wednesday that it intends to spend at least $100 million doing so.

[company]Klarna[/company] Checkout is a competitor to the likes of [company]PayPal[/company] and [company]Stripe[/company], providing another way for online merchants to take payments. The service makes an algorithmic risk assessment of the customer, based on their behavior and credit scores – the less risky the customer, the less information they need to give to make the payment.

This low-friction approach to the buy-now-pay-later game is particularly handy in the mobile payments arena, where the less you neeed to type the better.

The Sequoia-backed firm, which is almost a decade old, is the largest payments processor in Europe, and it has been talking about its U.S. move for a couple of months. Now, it has said how much it’s willing to invest in this push…

View original post 71 more words