Discover the power of data analytics in the worlds of Retail and Telecom! Join our conversation with Ruta Krisciunaite-Hartley, Head of Shopper Marketing & Insight @ IKI, one of the biggest retailers in Lithuania. We explore how customer value management is different in Telecom and Retail and how these industries leverage data to understand consumers, optimize operations, and make strategic decisions. Gain fresh insights and valuable lessons that apply to any business environment. Tune in now and unlock the secrets of data-driven success!
How I got in Data Analytics: Working as a junior consultant, and later pursuing a master’s degree in business analytics and consulting, Ruta got in this field by chance, but it was mean to be.
The importance of data analytics and passion for insights: Ruta discusses her passion for insights analysis and her natural curiosity to understand the “why” behind data. She also emphasize the growing relevance of data analytics in various industries.
Challenges in Data Analytics: The common challenge of data accessibility and the importance of data engineering and proper data warehousing.
Inefficiencies in Analytics: Ruta discusses the significant amount of time spent inefficiently in analytics due to historical underinvestment and inadequate tooling.
Career advice for aspiring analysts: The misconception that analysts need to come from a math or stats background still exists. Ruta encourages anyone with natural curiosity and problem-solving skills to pursue a career in data analytics.
The differences of Customer Value Management in Telco and Retail: The differences in customer value management between telco and retai are explainedl, emphasizing the importance of loyalty programs in both industries.
The Relevance of Loyalty Programs in Retail: Ruta discusses the value and potential of loyalty programs in retail, especially when designed well and utilized effectively.The speaker is sharing significance of personalization in retail to improve customer experience and satisfaction, particularly in the context of increasing marketing messages and customer stress.
Challenges of personalizing product offerings: The conversation delves into the challenges of personalizing product offerings, especially in large retail environments with tens of thousands of products. Ruta explains how customer segmentation and affinity scores are used to tailor product recommendations.
Data maturity and analytics adoption between the UK and the Baltics: Ruta compares the level of data maturity and analytics adoption between the UK and the Baltics, highlighting the importance of data engineering in reaping the benefits of AI and ML in optimization.
Category management and how retailers discover the latest trends?
How CVM differs in huge market like UK and small Lithuanian market
Importance of optimization through AI, ML and investment in data engineering: Ruta shares her excitement about the future of retail analytics, emphasizing the importance of optimization through AI and ML and its potential to revolutionize decision-making processes in the industry.
Black-boxes vs built in-house models
Differences working as a consultant and in-house analytics: Ruta reflects on the differences between working as a consultant serving retailers and working in-house, where she has greater involvement in the implementation and a sense of ownership over business results.
Proudest moment of the career: Ruta expresses her satisfaction and pride in choosing a career in analytics, as it continues to make her happy every day.
Movie Recommendation: “Moneyball” is a great portrayal of how data science can be used to make an impact in your life https://www.imdb.com/title/tt1210166/
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