Data analytics in the retail industry is not something new. Retailers have been tapping into data for years now, gaining what is called consumer or shopper insights to improve their performance. They have access to loads of data that comes from multiple data sources: purchase transactions, CRM data, customer loyalty programs, etc.
Now, in the age of the consumer, achieving customer satisfaction and engagement is more challenging than ever. This is an era where consumers are super informed. They want to know everything, and in real-time. They expect companies to provide solutions immediately. That’s why smart data discovery and BI tools are being used by retailers to get a much better understanding of customer behavior and preferences. In this new consumer era, smart data analytics is no longer a plus, it’s a must-have.
To justify why it’s a must-have, we’ve put together a list of 10 very cool things retailers can do with BI. Continue reading