Category Archives: Big Data In Retail

Why Predictive Analytics Have Become Essential Technology For Retail Profit

Predictive analytics have quickly become an essential technology solution that retailers are eagerly adopting to compete and survive in today’s marketplace. Predictive analytics solutions let retailers use science to analyze Big Data… using patterns found in historical and transactional data to uncover actionable insights and opportunities, to ...
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Ten Top Retail Trends For 2017

trends-2017-on-computer-150Retailers have a pretty good idea which trends need addressing in the coming year — and beyond. They’re well aware that the retail (r)evolution includes all-encompassing categories such as consumer trends, seamless omnichannel strategies, the increasing inter-dependability of retail and technology, mobile (and mobile device) usage, big data anal...
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How Retailers Are Using Price Optimization Software To Make Profitable Pricing Decisions

In today’s transparent, always-on, highly competitive marketplace, savvy retailers are quickly adopting “the best technology so far” to compete strongly in the pricing arena. Price optimization software melds big data, science, and historical information to help retailers price millions of SKUs, product-by-product, in the most accurate, timely, an...
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Why Retailers Should Outsource Their Analytics

As predictive analytics and price optimization take their rightful place in the science of pricing, more and more retailers are asking: Is it better to perform my analytics in-house or use outside vendors who are experts in providing this service?

In a recent RetailWire discussion (Do retail marketers have an appetite for data science?) BrainTrust ...
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Retail Technology Trends For 2016

It won’t come as a surprise that tomorrow’s retail world is already here! Catalytic forces at play include accelerated digital technology use, wider acceptance of cloud capabilities, the explosion of mobile commerce, and more.  All aimed, of course, at serving the multi-connected, multi-channel, multi-available consumer.  And, when all is s...
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How Retailers Are Using Best Practices This Holiday Season To Maximize Data Outcomes & Optimize Revenues

As Holiday Season 2015 arrives, retail challenges include stronger consumer economic confidence; customers shopping earlier; shoppers being “brand agnostic”; shoppers using mobile more extensively; and shoppers expecting seamless experiences paired with high quality service. Proper use of Big Data and Best Practices to address these challenges, maxim...
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Fewer Promotions In Store For Holidays 2015: Upstream Commerce

Charts Avg Discount 150There are definite shifts in the way large retailers are discounting during the holiday season.  By analyzing 300,000 products of seven large fashion retailers during the holiday seasons of 2013 and 2014, retail intelligence leader Upstream Commerce uncovered important trends and promotion strategies that hint at what may be in store for consumers...
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10 Very Smart Back To School Pricing Strategies For Retailers

$68 Billion from NRF Infographic 10“Never price less any time you can be making more profit,” should be the mantra of every successful retailer from enterprise on down. This is especially true of holiday selling, including the upcoming back to school shopping season. Here are some highlights of the 2015 NRF Back To School Shopping Survey, followed by “10 Very Smart Back To School S...
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Upstream Commerce Unveils New Advanced Trending Solution

Advanced trending perpetual motion150What if retailers could combine market data with key business metrics to uncover underlying trends — and then leverage these insights to optimize business results?  What if retailers could get answers to important questions such as: “How does my sales volume behave when my price changes are not aligned with market price movements?” or, “Which met...
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Is Your Real Competition The Competition — Or The Marketplace?

Businessman Hand Working With New Modern Computer And Business SuccessThis is about how insightful competitive intelligence ensures your business agility. Competitive Intelligence expert, Benjamin Gilad, in a recent article about competitive strategy in the Harvard Business Review (HBR), said businesses are mistaken if they think that competition is about, well, only about their competition. Rather, he points out, c...
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How Can Retailers Confront Disruption & Avoid Extinction?

ExtinctHere’s what you didn’t learn in school about the disruption affecting retail today. A recent article by consultant Chris H. Petersen, “Seven disruptive trends that will kill the ‘dinosaurs of retail'” discussed the fate of “25 retail dinosaurs that vanished in the last 25 years” which was the subject of an Entrepreneur article. Those retailers in...
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6 Powerful Paths To Profit Using Predictive Analytics 

Dump that shirt that isn’t selling well. Delete SKUs with low sales. Don’t carry that product line because no-one’s buying it. Jack your prices around because that’s what your competitors are doing — and in real time. Right? Well, the answer is a resounding: Don’t do it! Here’s why: It’s every retailer’s dream scenario to know what the consumer wan...
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Big Data Analytics: The 2% Solution and Other Real-Time Retail Pricing Secrets

Today’s retailers are reaching for top-line growth and increasing market share through collecting, assessing, prioritizing and executing Big Data analytics, with the latest challenge: Dynamic Pricing in real time. According to a RIS March 2014 Report, “Supercharging Predictive Analytics with Big Data,” 28% of retailers feel pressure to evolve from...
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