A lot of people balked at the idea that a retailer could learn so much about them based on buying habits alone, but the use of big data in retail is helping all sorts of companies improve the shopping experience, increase customer satisfaction, and boost profits. The implications are huge, and we’ve only just begun to scratch the surface.
Big Data in Retail
Big Data Retail analytics is now being applied at every stage of the retail process – working out what the popular products will be by predicting trends, forecasting where the demand will be for those products, optimizing pricing for a competitive edge, identifying the customers likely to be interested in them and working out the best way to approach them.
This infographic depicts different data sides you want to know about and induct within your business process, and get answers to questions, like:
- What makes retail big data big?
- What retail big data to collect?
- What are the goals of using retail big data?
- How to develop a big data game plan?
This content was originally published here.