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LONDON–(BUSINESS WIRE)–Retailers across the globe are facing major challenges due to a turbulent economic landscape, proliferating retail channels, and an increasingly demanding customer base. However, the real challenge lies in the fact that retailers are inundated with data sets obtained from both online and offline channels. To tackle this challenge they need smart, data-driven solutions to stay ahead of the curve. Quantzig, a premier provider of analytics solutions brings to you the top four retail analytics trends that are set to transform the business landscape in 2020.
To succeed in today’s turbulent business scenario, retailers will need to dive into these retail analytics trends to outcompete the global competition. Request a FREE proposal to learn how we can help you.
According to Quantzig’s retail analytics experts, “The adoption of retail analytics solutions is increasing rapidly as more retailers worldwide are realizing significant returns from using BI and analytics platforms.”
Based on a detailed study of the retail sector, our retail analytics experts have curated a list of top retail analytics trends that will help companies to gain in-depth insights into the market scenario. Also, these retail analytics trends will help organizations to devise more agile, receptive, and cohesive data management systems and adopt new strategies to target specific objectives such as increasing footfall and improving customer loyalty.
How should retailers respond to the ongoing disruptions to ensure business continuity and emerge successfully in the post-pandemic world? Book a FREE solution demo for detailed insights into the role of analytics in retail.
In this article, Quantzig’s analytics experts offer insights into the top 4 trends that are set to transform retail in 2020:
- Omnichannel Experience – When it comes to offering a seamless experience to customers, companies in the retail industry need to bridge the gap between in-store and online shopping platforms. Retail analytics solutions that leverage customer-centric models can help retailers to offer a seamless omnichannel experience to customers.
- Personalization – Personalization of services turns out to be a key aspect that impacts growth in every industry. In retail, service and product personalization is set to take center stage as customers needs and demand are expected to witness an all-time high in 2020.
- Predictive Analytics – Predictive analytics finds applications in several scenarios where businesses must analyze historical facts and make predictions on future and unknown events.
- Dynamic Pricing Models – Dynamic pricing models can help companies to base their price structures on inventory availability, market saturation, and customer demand. This can further help in driving demand, improving customer satisfaction and loyalty.
Talk to our analytics experts to learn how we can help you devise suitable action plans to ensure business continuity amid the crisis.
Quantzig is a global analytics and advisory firm with offices in the US, UK, Canada, China, and India. For more than 15 years, we have assisted our clients across the globe with end-to-end data modeling capabilities to leverage analytics for prudent decision making. Today, our firm consists of 120+ clients, including 45 Fortune 500 companies. For more information on our engagement policies and pricing plans, visit: https://www.quantzig.com/request-for-proposal