In recent times, corporates around the world have started adopting data analytics as a powerful tool to help them optimize various aspects of their business. Retail is no different. Uncertain economic conditions, expensive real estate, narrow margins, and shifting customers – all these factors are pushing retailers to find innovative ways to retain customers and improve bottom line.
There are many ways in which retailers can apply analytics in their business. Some of the world’s most successful retailers have aggressively adopted and exploited analytics to help them gain continuing competitive advantage.
In this whitepaper, we summarize how a retailer can gain the same competitive advantage by applying analytics in 8 different areas.