Retailers Harness Big Data to Offer Consumers Personalized Shopping Experiences
The experience of shopping has changed dramatically in recent years, as power has shifted to consumers. Shoppers can easily research and compare products from any device, even while walking through a store. They can share their reviews about retailers and products through social media and influence other prospective customers.
To compete in this new multi-channel environment, retailers must employ new strategies to attract and retain customers. Big data solutions enable retailers to connect with customers through multiple channels at an entirely new level by harnessing the massive volumes of new data available today.
The RedGate Analytic Platform helps retailers store integrate and analyze a wide variety of online and offline customer data—e-commerce transactions, clickstream data, email, point of sale (POS) systems, social media and call center records—all in one central repository.
Retailers can analyze this data to generate insights about individual consumer behaviors and preferences, and offer personalized recommendations in real time. The key to this is the ability to optimize merchandise selections and pricing that are tailored to individual consumer sentiment.