Quantzig, a leading analytics advisory firm that delivers customized analytics solutions, has announced the completion of its free resource on the top trends in retail analytics. Consumer goods brands looking for growth in 2019 and beyond need to take a closer look at their retail strategies. Retail analytics offers detailed insights into the swiftly growing customer preferences and demands. Top retail companies are leveraging big data solutions to devise their marketing and pricing strategies. Data-driven business strategies and promotions have proven to be much more beneficial and accurate as compared to assumption based decision-making.
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Top Retail Analytics Trends Set to Transform The Retail Industry in 2019 (Graphic: Business Wire)
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Top Retail Analytics Trends Set to Transform the Retail Industry in 2019
Predictive and prescriptive analytics
Predictive analytics and prescriptive analytics are going to change the retail scenario dramatically in 2019. It helps businesses accurately analyze the past and forescast future events by using data and conducting robust data analysis. Predictive analytics can also guide retail companies in shifting their approach from reacting to customer orders to proactively shaping demand and ensuring the availability of the right product at the right time.
Identifying the right media mix and devising the most profitable sales strategies can be a daunting task for businesses. However, businesses can leverage retail analytics solutions to derive a desirable outcome. Request a free proposal to know more about our portfolio of retail analytics solutions.
Curated relationships between retailers and suppliers
Retail analytics can help in building a better relationship between suppliers and retailers which can further result in the development of a better retail strategy based on the customer response and demand. Also, this can help in improving the in-store performance by analyzing the customer base efficiently.
Product assortment analytics
Product assortment analytics creates a huge impact on in-store sales and conversions. Earlier, retailers who have either neglected or poorly planned their product assortment strategy have witnessed a drastic decline in sales. Product assortment analytics can help businesses to integrate their customer behavioral data with their purchase history to segment customers and serve them in a much better way.
To read more, download this free resourcehere
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About Quantzig
Quantzig is a global analytics and advisory firm with offices in the US, UK, Canada, China, and India. For more than 15 years, we have assisted our clients across the globe with end-to-end data modeling capabilities to leverage analytics for prudent decision making. Today, our firm consists of 120+ clients, including 45 Fortune 500 companies. For more information on our engagement policies and pricing plans, visit: https://www.quantzig.com/request-for-proposal
View source version on businesswire.com: https://www.businesswire.com/news/home/20190424005723/en/
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