Category Archives: Big Data In Retail

5 Ways Retailers Can Use Analytics For Home Run Products & Competitive Pricing

It’s every retailer’s dream to know what is going to sell best, the best, most competitive prices to charge, and how to stock the most productive inventory. Certainly, to know what the consumer wants, forecast future sales and trends, and more. With the intelligent use of technology (including Competitive Pricing and Assortment Solutions), retaile...
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9 Effective Habits Of Online Retail Winners

By now, we all know the drill about the online retail marketplace: It’s global and transparent, growing exponentially; social, mobile and omnichannel usage proliferates; consumers are more savvy and...
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Find Out How A Retail Winner Increased Customers By 35% In Three Months! (IBM White Paper).

Winners Losers Leaders Laggards. This might be a good name for a John le Carre novel, but it’s analyst-speak for identifying leading (or lagging) retailers.  What are the differences between retail leaders and retail laggards, and what are the vital statistics that set leading marketers apart from the crowd? According to a recent white paper from ...
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Setting Prices & Pricing Data Are Top Challenges Retailers Cite In RSR “Tough Love” Survey

Breathing down every retailer’s neck in 2013 is online retail competition growing by double-digits, eCommerce surging ahead of brick & mortar and becoming more effective; and the use of more effective tools for meeting and beating the competition. In my previous blog post on RSR’s Tough Love, An In-Depth Look At Retail Pricing Practices, I talked a...
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5 Trends Every Retailer Knows Regarding The Online Boom

In order to compete and participate effectively in today’s marketplace, you’ve got to look at the trends in web influence, technology usage, and customer behavior that are now supported by business intelligence and hard data as opposed to instinct. And even though Infographics are meant to give the picture at a glance, it helps to put down in words...
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How Retailers Can Key Into Actionable Big Data Competitively

A January 2013 Infographic, below, from Monetate examines what types of data marketers are collecting, areas where retailers struggle to tap actionable Big Data competitively, the biggest obstacles to actionable data, and how to master this data. Starting with “Marketers Know Data Matters,” 100% of the CMO’s acknowledge successful brands use custo...
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5 Compelling Reasons Why Big Data Should Have A Human Touch

In an interesting article in Sunday’s New York Times (Algorithms Get A Human Hand In Steering Web), Steve Lohr reports that companies like Google, Twitter, and I.B.M. are discovering it’s not enough to turn algorithms loose to figure things out, because computers are just too literal, that is to say they can’t decipher ambigu...
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Global BI Software Revenue To Reach $13.8B In 2013 (Gartner): What’s This Mean For Retail PI & Analytics?

Worldwide Business Intelligence software revenue is expected to reach $13.8 billion in 2013, a 7 percent increase from 2012, with a market forecast to reach $17.1 billion by 2016, according to Gartner analysts.  Business Intelligence is important because it helps develop knowledge on which to make better decisions; helps retailers move from colle...
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How Retailers Can Unlock Big Data To Increase Operating Margins More Than 60%

Can Big Data leverage data-driven strategies to increase operating margin by more than 60%? Big Data evolved as a treasure trove of massive information, and, in a twisted version of a pirate epic, retailers discover this buried treasure, but then they must unlock it and understand it.  Once Big Data is tapped properly, pricing intelligence and pri...
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Where’s Big Data Headed Re Competitive Retail Intelligence? (Infographic)

Is big data questionable? I don’t mean should we question (the existence of) big data, but where do retailers want to go with it, and where is it taking us — especially as a competitive pricing and assortment intelligence tool? In May 2011, McKinsey Global Institute studied Big Data and wrote the article: “Big Data: The next frontier for innovation...
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10 Powerful Guidelines For Choosing The Best Retail Pricing Intelligence Software

Pricing intelligence software tools are being used by retailers around the world to compete more effectively, increase sales, and grow profit margins through the use of advanced automated real-time intelligence-gathering and analytics. According to trend-followers, this is the Year Of The Pricing Intelligence Tool. Choosing the right pricing and as...
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5 High Performance Pricing Procedures For Ecommerce Profits

There’s no area of your company — or your future — that isn’t affected by pricing — and, with pricing and assortment intelligence technology and price tracking capability developing at warp-speed, that becomes more and more challenging every second. Deloitte analysts in 2007 observed that companies that integrated their pricing efforts outperformed...
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9 Reasons Retailers Are Raiding Technology Sectors To Compete In Burgeoning eCommerce Arena

The extraordinary and revolutionary advent of eCommerce, tempered by the competitive intelligence world of retail sales and profits — and growth of supporting technology — has store-front retailers fighting back. Before this past holiday season, many big retailers rolled out the big guns to level the playing field, taking ideas from the online play...
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