When it comes to value and impact of data analytics in the industry of retail, more so in the e-commerce segment because it enables a retailer to provide various forms of customized experiences to all the customers. Paired with the effectiveness of smartphones, customers are now well connected and well informed than ever before. Personalization is no longer a mere feature of luxury marketing and shopping experience, as it has become a powerful tool for directing the journey of a consumer for a retail business. In order for retailers to grab the attention of the buyer and drive revenue, it is mandatory to deliver content that is centered around the purchasing behavior of the buyer.
A study can easily drive this point home of a more connected and informed user. In the year 2015, Asia Pacific users accounted for 46 percent and North American Users at around 20 percent who purchased products via a device, whether it is a tablet, computer, or a smartphone.
It is often noted that users look for a consistent buying experience regardless of the channel. This is the main reason retailers try their level best to provide the experience of an Omni-channel. With the amount of online interactions and digital footprints left, the application of big data analytics solutions would prove to be really beneficial. These solutions hold the capacity to empower every retailer and marketer understand their customer’s requirements such as information they sought and the amount they are willing to shed. It is these kind of information that always stay uniform in their history of purchase, irrespective of whether they shop through online portals or physical stores, from a smartphone or a PC.
For an ecommerce web development company, the main driving factor behind the development and implementation of strategies by the retailer is the analytics solutions, which revolves around three main principles which are given below:-
Better Information
Users usually expect improved and customized services form the side of retailer as far as offering type and pricing of products are concerned. A retailer can easily leverage information of the customer, apart from finding other streams of date for related information. Moreover, it only assists them in acquiring useful insights into what other customers are purchasing at the moment.
Better Alignment
Efficient redesigning and reviewing the strategies paired with the offered services now form a large part of the plans of customer engagement. Implementing an approach that is centered around the customer, rather than channel, needs the application of big data solutions across the consumer funnel and organization for driving consistent and relevant digital experience.
Better Response
There is a need for retailers to develop their strategy in accordance with what their users require and address all these requirements in an environment that is categorized by competition. When it comes to Prioritizing, it is one of the key elements in effectively meeting the requirements of the consumer.
The above three principles around which Analytics Solutions revolve, are enough to convey the message that how much Big Data Analytics solutions can be beneficial for your retail business. To conclude, make use of these solutions and witness your business reach new heights of unimaginable success.