The power of analytics for the Retail Sector

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Imagine if you could create intimacy
with your customer. Imagine if you could understand them, understand their motivation. Understand why they come and shop with you. Imagine if you could leverage the data that are you have about them, They have been shopping with you for
a long time, but you probably have a lot of data across many different departments. But you can’t today bring down all together and therefore you don’t have a consolidated view of them. Imagine if you could bring all that together decide, how to best interact with them. One step t a time. One interaction at a time. Whether they called you in the call center. Whether the come and shop in-store.
Whether they come and shop online. Imagine if you could every time know
what the next best action you could give them, an offer or promotion. Are they currently
posting on twitter or facebook or instagram? Are they currently interesting in sport? Are they planing a trip tot he ski? Imagine if you could know that,
access that information and give them the right offer the right time. That’s
possible too that we are doing that with our customers and we do have solution at
sports if you’re managing a product category
you are probably wondering what is a perception of your product and you do
have some information but imagine if you could bring together died of internal
such as call centres log such as review feedback you get with external data such
as reviews and ratings and blogs whether a structured or unstructured you could
bring all of that together and understand what people feel what people
say about your product and understand why the sea analyze that data today we
are helping customer doing it is possible today’s margin a pretty and it’s very
important to increase revenue of course but also to optimize costs and cost
optimization as a number of domain that need to be addressed one of them is
Pradhan and imagine if today you could analyze fraud patterns are you already
have in hat you could look back at the last few years of dialogue a few months
and identify fraud pattern whether it’s on the external supply chain based on
the suppliers perhaps there are discrepancies between what you ordered
what you received an order paid for we can identify that using Ford pattern
detection we can also identify fraud patterns within the enterprise whether
they are by employees or by customer who commented 41 behavior all of that is
available and we can implement it and we have implemented a number of years ago retailer would interact with their
customers in a very transactional way customers would call make a purchase is
and we wouldn’t know who they were they would go away and come back or not then
loyalty system were implemented that deal how to create a relationship with
that was very much based on them to cut some as willing for their loyalty card
so we would understand who they were at the time and we could possibly give them
some reward for a community in points for example today we have gone one big
step forward things to analyse what we can do is drive the interaction property
my speech interaction so that the customer goes from being transactional
to being a loyal customer began in order to truly benefit from lifetime value of
a customer I need to start engaging them when they start to life at the shop so
what one of the large retail kind deed was to engage Millennials because if you
engage me and you make them loyal you going to have them shopping mall store
for many many years to come however the challenge for that meeting
as we’re not shopping in this new that so what we need for them was to analyze
data in order to figure out why we’re not shopping in this so we brought together internal data
from all Center transactions and social media data which we got externally and
bringing all that together to analyze a lot alike to identify that mean you’re
not shooting in this store because they thought interactions were irrelevant offers were even if they were not
targeted to them what that allowed then is due department store to start dealing
with them as Millennials very specifically in order to address that in
turn them into law

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