The rules of the marketplace have changed for retailers. Consumers are more empowered than ever before as they incorporate new technologies and actionable information into their daily lives. With the Internet and social media, consumers now have instantaneous access to a wealth of content about retailers and their products. This gives them the power to seek a more personal and smarter shopping experience.
To differentiate, build customer centricity and provide excellent service, retailers need to match inventory and brand experience on the Web, in stores and via mobile devices. Consumer data has become a competitive tool. Once applied to the business, it has the power to transform. Predictive analytics gives retailers data they can leverage to differentiate themselves, customize a shopping experience and make the retail organization operationally efficient, customer-focused and highly profitable.
IBM SPSS Predictive Analytics works across the entire operation, helping retailers address three major business imperatives:
• Developing smarter merchandising and supply chains
• Building smarter retail operations
• Delivering a smarter shopping experience
This whitepaper explores the practical applications of predictive analytics within retail and how it can be used to deliver a smarter shopping experience.
Contents
- Data Drives the Experience
- Personalized Mobile Marketing
- What Does the Research Reveal?
- Predictive Analytics Takes Retail to the Next Level
- What’s in Your Basket?
- Data-Driven Decisions Deliver Better Results
- Applying Predictive Analytics
- Your Analytics Journey
- The Maturity Model
- IBM Leading the Way in Retail
- A Smarter Merchandising & Supply Chain
- Building Smarter Operations
- Conclusion
