Customer Data Analysis: How Customer Data Analysis Increases ROI
As consumer behavior continues to evolve, companies must keep up with the constantly changing preferences of their customers to remain competitive in their industries. Decision-makers have realized that the unpredictable market conditions and the looming possibility of a recession have prompted consumers to prioritize spending only on necessities and to seek more efficient shopping options, […]
How To Drive Sales by Measuring Foot Traffic
Walk-in foot traffic represents the number of customers that enter your store. This measure can be instrumental data for retailers and helps them make important decisions to increase sales. Each store’s foot traffic unveils the effectiveness of the storefront and its strategy to engage and attract potential customers into the store. This also marks the […]
How Can Big Data Help for Dark Store Site Selection?
E-commerce for retail stores have skyrocketed since the pandemic, and many ecommerce stores have witnessed tremendous growth of their e-commerce stores. Many people know that their stores can be excellent fulfillment centers as they have the advantage of being close to the customer. They are even more efficient when it comes to traditional stores. Dark […]
Cannibalization in Expansion Plans: How to avoid it?
In marketing strategies, cannibalization refers to decreasing sales revenue, volume, or market share. This happens because of a company introducing a new product. In E-commerce, some companies approach intentional cannibalization to reduce the prices of their offerings. This allows them to benefit from the host of customers that gather to buy the discounted product. Therefore, […]
How to enhance Market Intelligence Reports with Big Data?
In marketing strategies, cannibalization refers to decreasing sales revenue, volume, or market share. This happens because of a company introducing a new product. In E-commerce, some companies approach intentional cannibalization to reduce the prices of their offerings. This allows them to benefit from the host of customers that gather to buy the discounted product. Therefore, […]
Convenience stores: Who wins at the point of sale?
Mobility analysis has become one of the best tools to optimize business strategies and expansion plans in retail. For convenience stores, this is no exception. Understanding what consumers think, want and do is essential for companies in the retail sector. This is where big data tools play an important role, because with them you can […]
Types of Supply Chain Analytics & why is important?
Supply chain analytics is one of the most important parts of managing any company that produces and markets products. The data obtained by supply chain analytics is key to the success of an organization. In an ideal situation, companies can carry out their operations with the exact number of supplies and without interruptions. This scenario […]
Big Data for Effective Supply Risk Assessment
A supply risk assessment process identifies and manages potential risks within a supply chain. Supply risk assessment is essential because it helps businesses anticipate and prepare for potential disruptions. As you know, in today’s globalized world, a minor hiccup in one region can ripple across the entire supply chain. This can cause significant operational and financial […]
Predictive models for retail franchises
Predictive analytics uses data, statistical algorithms and machine learning procedures to identify the probability of expected outcomes from historical data, enabling organizations to increase their productivity, competitive advantage, improving what companies do and how they do it. Franchise system retailers can face growth challenges in a changing and competitive retail marketplace, and franchise managers and […]
How does Big Data work in market research?
In the United States, digitization is spreading through myriad channels across the economy. Now, in that country, digital tools are generating channels that are changing the way of doing traditional market research. In general, big data aligned with market research makes the process more efficient and impactful than before. The role of Big Data in […]