Tag 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 connect...
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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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5 Trends Every Retailer Knows Regarding The Online Boom (Infographic)

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 Tap Actionable Big Data Competitively (Infographic)

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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Decisionmakers Cite 9 Key Reasons Business Intelligence & Analytics Critical To Operations

Every day, there are more and more-sophisticated business intelligence and analytics tools available to optimize pricing for thousands of products, help spot possibilities to reduce prices and increase sales, analyze data, determine ideal product mix, and increase overall profitability. And the competition grows more keen with every moment. In Nov...
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How The “Tech Titans” Use Mobile Technology To Be Bigger & Stronger In The Retail Competitive Market

My last post was 5 Must-Know Technology Trends That Will Drive Retail Business In 2013. Today’s piece, which was part of the original article about Technology Trends for 2013, in Retail Touchpoints, takes a look at how the “Tech Titans” – Amazon, Apple, eBay, Facebook and Google – have grown – using mobile technology – to eclipse retail competiton...
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5 Must-Know Technology Trends That Will Drive Retail Business In 2013: Comments By 14 Retail Execs

As the lines between traditional and digital channels continue to blur and the need for competitive intelligence and price monitoring software grows, Retail Touchpoints recently asked 14 key executives from leading solution-provider companies to share their insights on technology trends in 2013. Each executive was asked to answer the following que...
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12 Significant eCommerce Holiday Trends; Including Over $21B Spent Online So Far In 2012: ComScore

With one out of ten discretionary dollars now spent online, e-commerce is a critical component of the 2012 shopping season, says comScore Chairman and Co-founder Gian Fulgoni. In a news release dated December 5, 2012, comScore reported on holiday season retail e-commerce spending for the f...
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