Data Analytics revolutionizes the traditional retail sector
The retail
sector has grown dramatically over the past ten years, thanks to the advent of
technology. Every brand is vying for the coveted space to create an impression
as the competition grows everyday. For businesses it has now become imperative
to utilise cutting-edge marketing tactics to reach their target demographic.
The retail industry has discovered the power of data analytics to better
understand consumer behaviour, purchasing habits, requirements, and
preferences, and then use this information to increase the possibility of a
purchase. Those organisations which provide data analytics services, have
increased the retail sector's efficiency and are in high demand.
Payoda
Technology:
As a partner in digital transformation, Payoda Technology has affected the
manufacturing, financial, healthcare, and retail sectors. A US-based retailer's
web portal now has 40% more registered users thanks to their most recent
solution, Magento 2.X. Task automation resulted in quicker online portal
checkout times, which enhanced the user experience and increased traffic. In
order to help more consumers save time, the retail behemoth, which has more
than 15,000 multiformat locations across about 44 states, hopes to achieve zero
downtime. Secure payment methods and automated checkouts never fail to draw
clients and aid in the expansion of an eCommerce platform. In the end, it
improves the number of registered customers by streamlining the checkout
process, automating address verification, and simplifying product management.
Infinite Analytics:
MIT's strong technological capabilities served as the foundation for Infinite
Analytics, a Boston-based company that unveiled Sherlock, a cutting-edge AI
platform that offers an unmatched degree of client understanding. More than 350
million people worldwide have their daily behaviours tracked and deciphered by
Sherlock using state-of-the-art machine learning. With the help of this
innovative technology, you can unearth a wealth of consumer signals and make
incredibly insightful, game-changing decisions. By making wise site selection
decisions in strategic locations, they could completely change your retail
approach. This can help you maximise profits, gain knowledge about how to start
marketing campaigns to boost foot traffic and revenue at all of your current
locations, and refine your product strategy to highlight superior products,
employ sensible price options, and enhance inventory control.
Shop Advisor:
ShopAdvisor enables online shoppers to quickly have one-way video chats with industry
professionals in order to receive customised shopping advice. In addition to
sharing supporting photos and videos from social media and providing live
demos, the experts can assist customers in narrowing down their options by
allowing them to co-browse. ShopAdvisor helps agencies, brands, restaurants,
and retail establishments to implement proximity marketing strategies. The
business provides an end-to-end solution that includes post-campaign analysis,
rich media creative design and delivery, audience and geographic targeting, and
campaign execution, administration, and optimisation.
Retail Next:
A whole range of products for the contemporary merchant is offered by Retail
Next. With the most potent traffic technology ever created, IT tracks foot traffic
to your stores in real time. Experience rapid access to high-definition
recorded video, which lets you conduct your own audits at no extra expense,
whenever and wherever you choose. It offers thorough video coverage and quick,
simple access to images and video on desktop and mobile devices, protecting
your employees, clients, and goods. Thanks to cutting-edge cloud-based
technologies, you can quickly access point-of-sale data, video, and picture
snapshots, cutting down on investigation time from days to hours. In the
interim, you may give your buyers up-to-date data on traffic, dwell times, and
conversion rates by product category.
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