Industry Analysis
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11111.pptxBIG DATA IN RETAIL INDUSTRY
Role of Data Analytics in Retail Industry
Role
Discount Efficiency
Churn Rate Reduction
Product Sell-through rate
retailers can run analysis on historical data and utilize it in predictive modeling for determining the impact such offers would have on a long-term basis.
With the help of big data analytics, insights got like things customers are likely to churn, retailers can find it easy in determining the best way to alter their overall subscriptions to prevent such scenarios.
Products that are data related can be analyzed by retailers to find what pricing, visuals, and terminology will resonate with the potential and existing customers.
Opportunities in Retail Analytics
Opportunities in Retail Analytics
The promise of big data
Marketing
Customer Experience
Merchandizing
Omni-Experience
Skills for future retail career
Social Media Smarts
Knowledge of Logistics and Operations
A Focus on Data
A Knack for Customer Service
Knowledge of Behavioral Finance
Reference
https://www.slideshare.net/NationalRetailFederation/the-future-of-retail-get-the-facts
https://www.digitalvidya.com/blog/data-analytics-in-retail-industry/
Thank You!
