retail analytics Archives

How advanced is data analytics transforming the retail industry?

January 24, 2023January 24, 2023Big Data and Fast Data, Business Insightsdata analytics trends, retail analytics

Reading Time: 3 minutes Traditional brick-and-mortar retailers have been radically overhauled by data analytics, which has swept the industry off its feet. To assess consumer needs, enhance supply chain administration, and boost profit; it has introduced a new perspective. Additionally, it aims to optimize revenues by maximizing brand strategy, discount coupons, and ensuring that excess inventory loss is kept to a bare minimum. Furthermore, data analytics aids in evaluating Continue Reading

Retail Post Covid-19: How Technology ensures an Omnichannel Experience while remaining Profitable

July 8, 2020July 7, 2021Business Insightscovid 19 business impact, retail analytics, retail post covid 19, technology in covid 19

Reading Time: 6 minutes Consumer behaviour has forever transformed with the onset of the COVID-19 pandemic. Retail, like all other industries, has been disrupted in its own ways. To begin with, the closure of most physical stores due to lockdown measures and social distancing has left retail businesses looking for new channels to reach their customers. Retail has seen one of the most significant shifts till date after the Continue Reading

MachineX: Anticipate Customer behavior for Retailing

February 18, 2020February 20, 2020AI, Artificial intelligence, ML, AI and Data EngineeringArtificial intelligence, behaviour driven development, Machine Learning, retail analytics

Reading Time: 4 minutes In this blog, we are going to see the power of Customer behavior Anticipation and how it can derive the success of the retail sector. Nowadays, Machine learning is playing an important in the success of different sectors. we can talk about Healthcare, Finance, Manufacturing, Agriculture, now even in Education. Retail is one of the sectors, which is getting huge benefits from machine learning and Continue Reading

MachineX: Demystifying Market Basket analysis

February 5, 2020February 5, 2020AI, Analytics, Artificial intelligence, ML, AI and Data Engineering, pythondata science, Machine Learning, MachineX, retail analytics

Reading Time: 7 minutes In this blog, we are going to see how we can Anticipate customer behavior with Market Basket analysis By using Association rules. Introduction to Market Basket analysis Market Basket Analysis is one of the key techniques used by large retailers to uncover associations between items. It works by looking for combinations of items that occur together frequently in transactions. To put it another way, it Continue Reading

MachineX: Top 10 data Science use cases in Retail

November 19, 2019November 21, 2019Analytics, Business Insights, ML, AI and Data EngineeringAnalytics, data science, Machine Learning, retail analytics

Reading Time: 8 minutes In this blog, we will see some of the data science use cases in Retail industries and how it is transforming the customer experience. We are all aware of the troves of data, retail businesses generate on a daily basis. However, this repository of critical data is worthless if it cannot be translated into valuable insights into the consumer’s minds or market trends. While all Continue Reading

Real-Time Analytics in Retail: The Key to unlock customer insights

November 5, 2019December 4, 2019Business InsightsBig Data Analytics, data science, real time analytics, retail analytics

Reading Time: 4 minutes Retail today is in the midst of an exciting revolution in which power has shifted from the retailer to the customer. Customers today have high expectations. They anticipate that companies will meet them where they are and when they want. They respond to experiences that are timely, targeted, and tailored to their specific needs—and reject those that aren’t. But, what’s the best way for businesses to differentiate themselves today?