Capturing big data continues to provide marketers more and more information about consumers' habits and preferences.
However, Ivey Marketing Professor Niraj Dawar argues big data is not being used to its full potential yet as it currently focuses on predicting a customer's next transaction.
In a blog piece for Harvard Business Review, Dawar believes "the questions that need to be asked of big data are not just what will trigger the next purchase, but what will get this customer to remain loyal; not just what price the customer is willing pay for the next transaction, but what will be the customer’s life-time value; and not just what will get customers to switch in from a competitor, but what will prevent them from switching out when a competitor offers a better price."
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