Category Archives: Predictive Analytics

Back To The Future With Predictive Analytics

Here’s a guest article by ecommerce entrepreneur Patrick Foster.     Patrick writes: Big Data can be, and usually is… unstructured, unwieldy, and overwhelming. The secret to success with big data is knowing that it’s quality, not quantity, that counts. Some companies are swamped and stymied by big data, while those who zero in on the RIGHT da...
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Don’t Let Your Competitors Determine YOUR Profitability!

In today’s disruptive “retail (r)evolution”, retailers have to fight on many fronts simultaneously in search of The Holy Grail of success and profitability. Multiple challenges pulling on everyone include competition, customers, manufacturing, supply chain, globalism, omnichannel, assortment, pricing right, data analytics, etc.  So, today’s qu...
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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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How Retailers Are Making Profitable Pricing Decisions Using Price Optimization Software

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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Underpricing & Overpromoting Are Some of the Retail Mistakes Revealed by 2016 RSR Benchmark Pricing Study

For the past few years, RSR (Retail Systems Research) has noted and chided retailers for being slow to adapt to modern market and pricing demands, believing they could win the race by low, lower, and lowest prices, or thinking that just participating in the race (i.e. competing on low price), would keep them in the game. This year’s RSR Benchmark ...
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Amazon Pursues Profitable Fashion Sales With Own Private Label Offerings

Amazon FashionThere’s a lot of chatter in the media lately about Amazon’s quiet foray into fashion private label. As the mammoth retailer casts in every direction for more massive growth, the e-commerce giant has started selling “fashion” clothes under at least seven different labels trademarked by the company itself. A major reason for this is that fashion sal...
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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 NRF Members Are Ending Overstock & Understock Nightmares While Maximizing Margins

NRF logo 150 b&redAs thousands of retailers descend upon the NRF Annual Convention & Expo this week in New York, whether big or small, they all have at least two things in common: 1. The myriad challenges of multichannel functioning; and, 2. Having the right inventory at the right place at the right time AT THE RIGHT PRICE — in orde...
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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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7 Sure-Fire Ways For Retailers To Generate Extra Profit

Motivational Poster, Motivation PictureFrom enterprise on down, every retailer has to be creative and “think smarter” to survive and thrive in today’s competitive retail arena. The principle is to offer items that increase your sales, increase your customer base, increase customer purchases, increase future business, be more visible, advance brand reputation, minimize customer abandonm...
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Why Keeping Your Retail Competitors in Business Keeps YOUR Profits High

“Can a retailer “cooperate” with his/her competitors so both succeed and make greater profits?” This is the question posed and discussed by Pragmatic Marketing expert Mark Stiving in his recent article, Pricing and the Prisoner’s Dilemma. The prisoner’s dilemma (which originated in game theory) represents a situation where two players both do bet...
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