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February 2017, Vol. 5, No. 1

Preparing data for analysis helps JTV find predictive gold

Jewelry Television, a shop-from-home network and online retailer known as JTV, is moving to add some analytics sparkle that goes beyond after-the-fact reports. It now puts information from predictive analytics models on the screens of on-air hosts to help them better align their jewelry and gemstone pitches with viewer demand. But the new focus on predictive modeling is also pushing the Knoxville, Tenn., company to polish up its approach to integrating and preparing data for analysis. Regression analysis algorithms that aim to identify relationships between different data variables are among the types of predictive models being used at JTV, according to CTO Chris Meystrik. The advanced analytics applications drive real-time business operations and decisions; for example, their output shows up on displays in the broadcast studio that look like "an airplane cockpit," Meystrik said. Getting predictive information on customer buying patterns in front of JTV's hosts helps them focus on selling items that are on the way up the curve ...

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