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(ISMAN) data analytics in retail to improve customer relationships…
(ISMAN) data analytics in retail to improve customer relationships
Real life cases
Walmart
Tesco
Benefits
Insight
Meaningful data
Trends
Customer behaviour
How customers think
patterns and correlations to make higher value purchases
Target customers at the right time
Campaigns
How weather affects buying patterns
Customer retention
Loyalty
Customer segments
Demand
customer churn
Customers from different sources
Modify shipping policy for products based on data analytics.
Hadoop
Savings Catcher –An app that alerts customers when a competitor reduces the price of an item the customer already bought. This app sends a gift voucher to the customer to compensate the price difference.
Uses
Analyse credit card purchases - provide tailored recommendations based on previous purchase history.
Analyse social media messages - give discount if product/service is mentioned
mobile app - shopping list based on weekly purchases. Discounts on similar products