Data-driven decision-making is no longer a luxury - it's an absolute necessity to remain relevant and competitive in retail. It's hard to stay on top of what consumers want, what your competitors are doing and what your next move should be. Big data, retail analytics and APIs can help you compete in the cutthroat retail sector, so you can make wise, fact-based decisions faster.
From NBC to Netflix, Big Data is shaping every industry today and it adds value to the key decision making process.
Big Data effectively analyses large volume and variety of data and opens new opportunities to gain deeper knowledge and better understanding to each customer.
Big Data helps in optimising inventory, predict demand elasticity and anticipate future demand.
The value of Big Data Industry according to McKinsey is more than 125 billion USD. Big Data can unlock 1.5 trillion USD in sales for retailers.
Big data is the collection of retail data on products and shoppers from in-store, online, mobile and social media channels. Big data simplifies all those omnichannel details by finding high-level patterns and trends. Retail data analyticstakes big data further by creating meaningful, actionable insights that you can apply in-store and online to improve business performance.
For smarter retail business decisions, we offer big data retail solutions, including standardized retail analytics and retail APIs, which use retail artificial intelligence.
Our sophisticated algorithm and categorization method maps all products and splits them into 1,100+ categories, based on our proprietary data clustering and normalization approach. (That's fancy for: You get accurate, consistent product data.) This robust categorization algorithm provides unmatched market benchmarking view with 95%+ accuracy levels - so you can feel confident in how your company compares to competitors.