There’s an increasing amount of information available on shoppers and their buying habits. From product research to purchases to pick up, shoppers are interacting with your products online and in your store while using more technology to make informed decisions.
And as retail competition continues to heat up, innovative retailers are looking for ways to tap into big data and analytics to get a leg up and connect with their consumers in ways they never have before. Sixty-two percent of retailers report that the use of data and analytics is giving their businesses a competitive advantage.
So, how can big data help your business succeed? Big data analytics can influence every stage of the retail process. Imagine being able to predict what products will fly off your shelves, how you can price them to sell, and which of your customers will be most interested in buying them.
It might seem an overwhelming task, but (good news!) there are tools you can use that will help you gather, analyze and understand how to apply big data to help your business grow.To get you started, here are 10 of our favorite tools to help you leverage big data to delight your customers and ultimately bolster your business.