RichRelevance, a company that powers personalized shopping experiences for online retailers, acquired Precog, an analytics technology startup (formerly known as ReportGrid). Financial terms of the deal were not disclosed.
Backed with $50 million in venture funding, RichRelevance aims to take consumer shopping data and help retailers leverage this information into a more personalized experience. As e-commerce continues to grow, and big data strategies enter the market, more retailers are providing customized online shopping for consumers to drive sales. In aggregate, RichRelevance’s clients represent more than 30 percent of online retail and include Target, Walmart, Sears, Overstock, The Disney Store and others.
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Precog deal brings team of top engineers with deep pedigree in open source technology and analytics to company
Machine Learning as Management Strategy
Innovators like Google and Amazon have been data-centric since their inception, with a repeatable formula that drives business value through exploration, innovation, disruption, and agility. Rather than decision-making by HIPPO (the Highest Paid Person’s Opinion), ideas are tested and judged on efficacy — and everyone is encouraged to test early and often. This focus on metrics enables meritocracy: a virtuous circle that empowers continual innovation throughout the organization.
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For those of you who live in a data cave on the West Coast like I do, it may come as a surprise that there was a blizzard this past weekend—a BIG one. The ‘Nemo’ blizzard, caused by a merging of two low pressure systems that originated in the central and southeast US, then migrated to the north-eastern seaboard—affected millions of people in the US Northeast, with heavy snow and multiple power-outages.
Study reveals that share of mobile sales on iOS devices dropped 12% in year-over-year comparisons, giving way to the Android platform.
Reading, UK – 21 January 2013 – Once again, mobile commerce has showed itself to play a critical role in the online retail experience, particularly during peak shopping periods. In a new Shopping Insights™ study released today (infographic available at https://richrelevance.com//insights/shopping-insights/infographic-boxing-day-2012/), RichRelevance, the leading provider of personalisation for online retailers, reported that mobile was a predominant driver of online shopping in December, with more than one in four shopping sessions taking place on a mobile device. The report also found that Apple iOS devices accounted for 85% of mobile purchases in December 2012—a measurable decline when compared to the same period in 2011.
Retail Technology writes on RichRelevance’s mobile study.
A recent report on mobile shopping behaviour found significant differences in the way Britons shop across platforms, according to e-commerce expert Darren Hitchcock
A 2012 study, conducted by e-commerce recommendations technology provider RichRelevance from analysis of more than 1.1 billion shopping sessions across mobile device and desktop computers in both the UK and US, revealed four key trends that offer important insight for British retailers.
Darren Hitchcock, vice president of RichRelevance in the UK and Europe highlighted that, first and foremost, mobile shopping continues to outpace desktop purchasing.
Blame the rain when that $600 Nordstrom order shows up at your doorstep.
A study by a San Francisco-based Rich Relevance shows the weather could impact how and where you spend your money. Mariah Walton writes that she set out to determine whether wet weather increases online sales, using Seattle as a guinea pig:
My original hypothesis was simple: Weather affects how and when people shop. To extrapolate that even further, I’ll surmise that people habituated to rain, like Seattle natives, will abandon the digital world when it’s sunny and enjoy the great outdoors.