Realizing the Potential of Retail Analytics

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Author(s): Swapnil Saurav (JDA Software, India)
Copyright: 2018
Pages: 17
Source title: Supply Chain Management Strategies and Risk Assessment in Retail Environments
Source Author(s)/Editor(s): Akhilesh Kumar (Indian Institute of Technology Kharagpur, India)and Swapnil Saurav (JDA Software, India)
DOI: 10.4018/978-1-5225-3056-5.ch004

Keywords: Business & Management / Business Science Reference / Operations and Service Management / Supply Chain Management

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Abstract

Few industries are changing more rapidly than today's retail sector. A still-turbulent economy, new selling channels, advanced digital technologies, and increasingly demanding consumers all challenge retailers to find new ways of remaining relevant and competitive. The purchasing decision journey for consumers involves multiple steps, many of which are now being captured, digitized, and transformed into metrics and data. As this data becomes an implied derivative of essential retail and consumer technologies, the focus is shifting from how to acquire the data to how to extract insights from it— insights that can be turned into differentiation and competitive advantage for the retailer and a better shopper experience for the consumer.

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