Analytics

How do consumer products (CP) companies grow their revenues? There are many considerations, including what price they set, how they manage the size of their products, and the assortment mix of those products. A question as simple as, "Will customers buy this product individually or in a set of six?” can be a highly impactful…

Everyone talks about how to make the most of their data. Data impacts everything, from customer onboarding, distribution, and omnichannel payment flows. As data volumes grow, they also expand in complexity. As the world becomes increasingly digital, it’s creating a tsunami of data, which many businesses weren't prepared for, especially in the wake of the…

In today’s COVID-19 landscape, companies are expected to predict future revenue, prevent risks, and react to opportunities quickly in order to drive profitability. As such, they need a reliable way to ensure projections align with revenue and real-time market conditions. That’s why forecasting is a necessity for retailers as it enables them to ensure they…

E-commerce sales have accelerated dramatically throughout the pandemic. Gartner found that nearly half of consumers increased their online shopping last year. More transactions mean more generated data; data that e-commerce providers can use to improve customer engagement and overall business performance. With augmented analytics, e-commerce players can accelerate the process of turning data into actionable insights…

With pressure to optimize sales in the wake of the pandemic, retail marketers are looking to real-time customer, commerce and market data to accommodate changing buying behaviors and capitalize on growth opportunities. A recent study collected insights from leading retail brands to determine how well they gather, integrate and leverage data to personalize marketing and…

Don’t let the hoopla fool you: brick-and-mortar retail is here to stay. This is particularly evident by the news that Amazon.com, the company that aimed to sell everything online, might build a chain of department stores. After numerous retailers announced their plans to close several physical locations, it seems the world’s largest e-commerce company will…

Despite hopes that this year’s back-to-school shopping season would mark a return to form after a year marred by COVID-19, foot traffic data at the nation’s top retailers indicate the season missed optimistic expectations. Foot traffic from July 5 to Aug. 31 shows that shopping this year aligned more closely with last year’s trends than…

The holiday shopping season is pivotal for retail revenue generation. Over November and December, National Retail Federation (NRF) studies have found that American households each spend nearly $1,000 on holiday items — ranging from gifts and decorations to traditional foods. With in-store operations mostly resumed, 2021 holiday shopping is looking more familiar to consumers. However,…

Optimize pricing, promotion and supply chain movements ... This is the wish list of any business, especially e-commerce retailers. But how can you leverage data to get there? Data analytics is a vital part of any market analysis, and new automated solutions can lift the customer service experience and internal management of your brand. Here’s…

Nowadays, the majority of businesses that operate in retail and hospitality industries rely on point-of-sale (POS) systems to streamline their back-office operations and allow a better understanding of their customers. Unfortunately, many of these businesses don’t realize the full potential of these systems due to the lack of expertise in data analytics. However, POS software development today…