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More than ever before, retailers are struggling to keep their customers interested in a very competitive marketplace. With an ever-growing omnichannel environment; online, in-store, mobile, and social, retailers are fighting to remain competitive while reducing customer churn rates (loss of customers).
Retailers depend on timely, accurate reporting and analysis of sales performance data to determine consumer trends so that they can change their pricing and marketing strategies as and when the market changes. Retail technology tools such as predictive analytics and price intelligence form the foundation for a real-time competitive strategy. To address these challenges, retailers need to make aggressive investments in Big Data & Analytics enabled-technologies that will assist them to gather intelligence on customer buying trends and experiences.
To gain quicker insights from their large and fast-changing data, retailers use Carrel Technologies Ltd.’s Big Data & Analytics solutions, which allow for operational data to be captured in-memory as transactions occur so that analytics can be performed against rich data sources and uncover insights in real time. This in-turn helps retailers succeed in the market, big or small, no matter their market strategy.