Traditional and online retailers are leading the pack in data collection – from point-of-sale and customer loyalty data to demographics – and they are amassing huge data stores. Unfortunately, collecting data is not enough. Savvy retailers are looking to predictive analytics to unlock the power of their data. Access to the right data mining and predictive analytics solutions can make or break a retailer in today’s volatile economic climate. Retailers using predictive analytics are setting the bar in customer retention, inventory optimization and low-cost promotions which drive increases in profitability and market share.
Predictive eCommerce and Retail Applications Include:
- Market Basket Analysis
- Customer Segmentation
- Customer Profitability
- Response Modeling
- Predict Buying Behavior
- Pricing Optimization
- Real-time Recommendation Generation
- Loyalty Program/Churn Analysis
- Promotion Planning
- Inventory Optimization / Merchandise Planning
- Marketing Campaign Optimization
Where do you want to start?