The retail sector today is undergoing a major transformation. And it’s not only in form- from brick-and-mortar to mobile. Smarter yet fickle customers, dipping margins, unmanaged inventories and the current economic scenario has really challenged the sector, calling for effective answers. Retailers today have a massive pool of information from the web, social media, ERP & CRM systems, analytics and surveys that if effectively captured, managed and processed can be the answer to the challenges ahead. Big data can help the retail sector in unlocking the potential of their data and derive business insights leading towards innovation, competitive advantage and better financial results.
Big Data can help retailers in-
- Customer Segmentation – Do finer-grained customer segmentation, improve customer acquisitions and gain buying behavioural insights.
- Recommendation engines– Suggest personalized offers, refine up-sell, cross-sell and repeat business using personalized offers, covert browsing into buying, re-define shopping experience.
- Stock management– Identify in-demand products & services based on real-time consumer feedback & interests. Pre-empt consumer interests and high-sales days.
- Store Management– Monitor stock movements, streamline store operations, reduce losses by matching products with demand, align inventory with sales data and take on-the-feet decisions.
[x]cube DATA can help you power with big data solutions to create a nimble-footed, easy and delightful shopping environment. Talk to us!