Business Intelligence / Data / Analytics

In order to be successful in today’s omnichannel retail marketplace, merchants must collect information from numerous internal and external sources, then analyze that data. New solutions can help to optimize incoming data in order to deliver the business intelligence and analytics needed to move retail businesses successfully into the future. This section offers feature articles, special reports, industry viewpoints and the latest news to help retailers make sense out of the growing influx of information.

Shoptalk Insights: Global Commerce, VR, Pop-Up Retail

In its second year, Shoptalk did not disappoint. More than 5,500 attendees from 40+ countries swarmed the Aria in Las Vegas, March 19-22, to hear from retail executives and industry experts. Even some of the sessions’ overflow rooms were filled beyond capacity at times, and many sessions featured very quick presentations from fast-talking execs trying to squeeze in as much information as possible. Most of the key topics on the minds of retail industry execs were addressed during the conference. Here you’ll find the Retail TouchPoints take on a few of those sessions:

Foursquare Offers Foot Traffic Analytics To Retailers, Restaurants

  • Published in News Briefs
Foursquare has released Foursquare Analytics, a dashboard designed to give retailers and restaurants greater visibility into location intelligence. With the platform, analysts gain a better understanding of changing store visit patterns and their share of consumer visits. The platform uses Foursquare’s Places database — which powers more than 100,000 mobile…

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.

Ginza Six Mall Deploys Indoor Positioning System

Ginza Six, a 500,000-square-foot retail complex in Tokyo, Japan opening April 20, 2017, has installed StepInside, an indoor positioning system (IPS) from Senion. StepInside is designed to help shoppers navigate the massive facility using their smartphones by showing them the shortest route to their destination. Ginza Six expects more than…

How Facebook And Amazon Play Into Mobile-First At eBags

There are a number of reasons why eBags is succeeding in the competitive travel goods space. But a focus on mobile-first is a primary driver of success: in 2016, year-over-year (YOY) sales via mobile grew 70% for both Q4 and full year 2016, while mobile traffic grew 67% for Q4 and 53% YOY. Co-Founder and EVP Peter Cobb shares his insights into eBags’ success, as well as his personal viewpoints on the retail industry, in this exclusive Q&A with Retail TouchPoints: Retail TouchPoints (RTP):eBags is committed to a strong marketing strategy using Facebook. Can you talk about the benefits of working with Facebook?

Industry Majors Make Strides In Predicting Consumer Behavior Via New Technologies

Retailers, it seems, have long made information technology investments to tell them what happened — what sold and how many; what products were popular in specific regions; and where additional products needed to be shipped to keep the shelves filled. Now, major retailers are leading the charge in creating information technology systems to tell them what will happen, so they can be better aligned with the customer and take advantage of trends as they happen. And it’s expected that as these predictive analytic systems become more commonplace among major retailers that the technology will soon make its way to the mid-sized and even smaller retailers.

Manthan Releases Updated Retail Analytics Platform

Manthan has unveiled the latest release of its flagship product, Retail Analytics. The release enables omnichannel retailers to leverage analytics to optimize their merchandising, operational and sales strategies across their POS and distribution channels. The new version of Retail Analytics provides retailers with analysis of demand by customer segments, geographies, promotions and events, across all online and offline channels.

70% Of Retailers Ready To Adopt IoT Platforms

Nearly 70% of retail decision-makers are ready to make changes needed to adopt the Internet of Things (IoT), and 65% plan to invest in automation technologies for inventory management and planogram compliance by 2021, according to the 2017 Retail Vision Study from Zebra Technologies. “Retailers’ number one business challenge to compete in this dynamic marketplace is inventory visibility,” said Tom Moore, Industry Lead of Retail and Hospitality at Zebra Technologies in an interview with Retail TouchPoints. “Best case, most retailers are 50% to 60% accurate from that perspective, so if they’re going to have any kind of e-Commerce strategy and leverage their in-store resources and inventory, they need to make sure that product is there.”

Digital Strategies Help Neiman Marcus And Home Depot Improve Omnichannel Personalization

Every retailer is seeking to reach the Promised Land of one-to-one customer personalization. Two brands that are leaders in their respective verticals — Home Depot and Neiman Marcus — use a variety of data-driven solutions to move them closer to this goal. Executives from both retailers shared key personalization strategies at a session titled Data: The New Currency For Retail Marketers, during the NRF Big Show 2017:

Sisense Develops BI Platform To Simplify Data Analysis

Sisense was launched in 2010 and offers a business intelligence and data analytics solution used to prepare, analyze and visualize data. This SaaS tool is built on technology that enables organizations to simplify complex data by empowering both business analysts and non-technical users to engage in end-to-end agile analysis of data from any source, with minimal need for IT involvement. Main product features include: Elasticube Manager, a data management platform that enables users to create simple data models while combining data from many disparate sources; Sisense Web Interface, a browser-based platform that lets users visualize and explore data through interactive KPI dashboards; and New beta features that combine elements of IoT, AI and machine learning and are designed to further simplify data analysis and make BI insights even more accessible and agile.

Supply Chain Integration Tightens Inventory, Boosts Accuracy For Nebraska Furniture Mart

Five years ago, executives at Nebraska Furniture Mart realized that the retailer's supply chain needed to be a major strategy driver within the organization. It was actually a logical conclusion: the omnichannel brand carries more than 650,000 SKUs, encompassing furniture, flooring, electronics and appliances, and nearly 25% of its product portfolio is brand new each year. Its vendors range from supply chain-savvy manufacturers like Sony, Samsung and GE to mom-and-pop companies building furniture in their barn and communicating via fax. By 2014, Nebraska Furniture Mart (NFM) had decided to move from its home-grown supply chain management system to an integrated system from Logility Voyager Solutions. Since then, the retailer has been involved in a continuous improvement process with the solution, leveraging its capabilities for benefits that are being realized throughout the company.

Yelp Partners With Marketing Cloud To Help Businesses Manage Location Data

  • Published in News Briefs
European digital location marketing cloud provider uberall has partnered with Yelp to help strengthen local businesses’ ability to engage with their customers and drive more foot-traffic to their stores. Yelp will now be available to uberall clients as a platform for managing their multi-location store data as well as monitoring their online reputations for each store within the cloud. These clients already leverage the…

Bluecore Debuts Marketing Decisioning Platform

  • Published in News Briefs
Bluecore has launched a new decisioning platform designed to help marketers organize large data sets, determine appropriate next steps and then quickly deploy campaigns across social, display, email and onsite channels. The platform, introduced at the eTail West 2017 conference, delivers personalized insights and audiences on the fly through a…

85% Of Businesses Plan IoT Deployments By 2019

  • Published in News Briefs
Businesses seeing better-than-expected returns from their initial Internet of Things (IoT) investments will lead to a boom in the technology by 2019, according to a global study of 3,100 IT and business decision makers across 20 countries. In the retail sector specifically, while just under half (49%) of respondents are…
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