Big Data -based Retail Analytics will give you concrete data-driven answers to your most important questions.
How often does your inventory match customer demand?
Too little inventories means lost revenue and too much increases your cost and reduces profitability.
What if you could forecast customer demand far more accurately?
Big Data Analytics can help you make far more accurate forecasts by taking into consideration multiple internal and external factors. We will use historical data, seasonality trends and sentiment analysis to predict demand levels. The impact on demand from your sales and marketing efforts can also be taken into account in the predictions.
Your procurement managers will have clear insights about how much to stock and when. No more guesswork to optimize your supply chain.
What is the optimum price that I can charge my customer?
Determining the right price at which you will maximize your revenue and profit is always a challenging task. Big data analytics makes it far easier for you to arrive at an optimum price. Rather than make your prices static, you can set dynamic prices depending on various factors like buyer behavior, seasonality, demand and supply trends, external events, price elasticity, competitor pricing, and more.
Price always plays a crucial role in any buying decision. Stop leaving price optimization to guesswork. Know what the right price should be with the power of big data analytics.
Retail Analytics Techniques
Determines optimum prices at which you can maximize your revenue
Predict your sales volume and inventory requirements with far greater accuracy