08 Feb NRF 2016 trends (2/4): Data & Retail Analytics: Data is king
Retailers know the potential of big-data and are increasingly turning to predictive analytics in an attempt to drive sales and outperform their competitors to success. There is a myriad of providers enabling everything to be measured, optimised and personalised, down to every single customer, both online and offline. Modern in-store analytics technologies can track precisely and in real-time how we all behave in stores. This data is made available through increasingly accurate dashboards, easy to use and accessible for all, including the sellers.
“Machine learning” can give value to the given customer knowledge and the cloud enables a real-time enrichment far beyond a traditional CRM. Microsoft uses the ” Kinect ” technology to enhance merchandising expertise and boost conversion in stores.
By combining analytics in both online and offline, retailers will be able to betterunderstand optimize and personalize the user journey to improve the shopping experience. They can now base a major part of their success on heavy data and analytics.
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