Be it a brick and mortar retailer or an online retailer or a combination, the ability to personalize the customer experience is the key in sustaining and growing the business. What this takes is an understanding of individual customer behavior and/or demographically micro segmented behavior of the customer segment. With more retailers releasing their own mobile applications, increasing spend on traditional and online advertisements and social media marketing, Retailers have all the classic Vs of Big Data - Volume, Variety and Velocity. In addition, on the supply and operational side the costs are ever increasing, putting pressure on margins and reducing NPV. The following table provides a view into the scale of data challenges a typical retail entity experiences.
|Big Data Characteristics|
|Sample Use Cases||Volume||Velocity||Variety|
|Online buying analysis|
|Seasonality and Deamnd Prediction
|Single View of Customer|
|Location Segmentation and Demography Analysis|
| Market Basket Modeling
|Operational and Management Metrics|
The million dollar question then becomes: Are the Technology and Business Organizations equipped to become Big Insights Driven transformational entities? Or, are you still stuck in the quagmire of analyzing data that is stale, inaccurate and hard to understand? Or, are your business units engaging in their own adventure of Big Data?
StratApps can facilitate your transformation to Big Insights and help you gain a competitive advantage, reduce opex and capex, and create a sustainable organizational and technology model. Of course, not with a long and drawn out roadmap that never sees end of the day, but with an agile delivery model aligned to stated objectives and realizing ROIs in as little as 3 months.
At the end of the day, we want to help you see your products flying off the shelf and be always ready to expand!