Turning Data Into Sales: Lucas Group Publishes Roadmap For Retailers
8 August 2018
Atlanta, GA – August 8, 2018 – Lucas Group, ranked third on Forbes’ Best Professional Recruiting Firms list for 2018, announced the publication of its latest report, “The Machine Learning Revolution: How Retailers are Turning Data Into Sales” authored by Managing Partner Justin Martinez.
Big Data is upending conventional retail marketing models, creating the potential to understand customer intent in real time and target customers for instant sales. For many retailers, however, the true potential of this data remains untapped with no practical application. Machine learning – a subset of cognitive computing – is the missing link that puts this data to work for retailers.
“By turning data into action, machine learning creates three key opportunities – intent targeting, a shorter R&D cycle and hyper-personalization – that will drive the next phase in the digital retail revolution,” says Martinez.
Machine learning algorithms use data mining, pattern recognition and natural language processing to teach the computer to mimic the way the human brain works, processing large volumes of structured and unstructured data.
“Even with the promise of machine learning, many retail companies are unsure how to adapt to the digital economy’s complexities and leverage its opportunities,” says Martinez. “There’s an urgency to do “something” but what this something entails – and how to even get started – remains unclear. That’s why we created this guide: it’s an actionable roadmap for identifying quick-wins, addressing internal talent needs and positioning organizations to capitalize on the cognitive computing revolution.”
The guide walks retailers through the current digital landscape, breaking down key opportunities into “quick wins” that will build internal stakeholder excitement around future opportunities.
The guide includes a framework for evaluating internal talent needs to kick-start machine learning adoption.
“Given the urgent mandate for change, retailers are in direct competition for one scarce resource: talent,” says Martinez. “Partnering with an executive recruiter can give organizations a critical leg up when it comes to making the first hire who will set the tone for future success.”
Lucas Group recruiters provide consultative recruiting services for Information Technology, including the IoT experts, data scientists and developers powering the Big Data and Machine Learning revolution.
With offices located throughout the U.S., Lucas Group recruiters use broad, national reach, together with expert, localized search methods to fill critical roles for mid-tier to Fortune 500 corporations.
About Lucas Group
Lucas Group is North America’s premier executive search firm. Since 1970, our culture and methodologies have driven superior results. We assist clients ranging in size from small to medium-sized businesses to Fortune 500 companies to find transcendent, executive talent; candidates fully realize their ambitions; and associates find professional success. To learn more, please visit Lucas Group at www.lucasgroup.com and connect with us on LinkedIn, Facebook, and Twitter.