Issue link: http://read.dmtmag.com/i/197178
Analytics are allowing companies such as Lot18 to understand and predict consumer preferences. Turning Data into Dollars Will analytics take the guesswork out of consumer wine-buying behavior? BY DEBORAH virtual tidal wave of data is fueling the race toward accurately predicting consumer preferences and buying behavior. With intelligent computer systems now gathering information in real time, businesses of all sizes are experiencing a sea change in the way they and their customers use technology. Until very recently, we looked to the past and relied on historical data to identify current 88 V I N E YA R D & WIN E RY MANAGEM ENT | Nov - Dec 2013 PARKER WONG trends and to predict consumer behavior. But now we're looking forward. Information technology has spun us around 180 degrees and given us the ability to use data to extrapolate and make predictions. With a new generation of applications being developed to predict consumer preferences and wine-buying behavior, companies of all sizes are clearly pursuing the promise of big data. w w w. v wm m e d i a . c o m