Data Analytics: The Key To Unlocking The Retail Advantage
Today’s retailers have so much to know about customers — who they are, what they buy, when they buy, how they like to pay, and how they feel about the interaction, product and brand. The good news is there’s plenty of data to fill in the gaps. Every customer visit and interaction, be it in-store, online or on a mobile app, yields a trail of data for the retailer to explore.
By leveraging that data, retailers can improve sales, customer service and their product offerings. And that’s where data analytics comes into play. According to Gartner, retailers need advanced analytic capabilities in order to compete in today’s digitalized marketplace.
Here are some ways data analytics can help retailers unlock their full potential:
Bringing Together Disparate Data
Lack of data is rarely a problem for retailers; the issue is getting data sets to mingle.