Cloud computing and big data are two major trends in retail today. Both are essential to a good data strategy.
Cloud storage is a model used to securely store data over a network of remote servers, making it accessible from anywhere on any device at any time.
Cloud storage gives retailers the ability to easily manage large amounts of data while having a secure place to store it. Plus, it all saves money.
Proper use of big data leads to significant sales growth
Marketers can use big data to calculate the value of each customer. Customers can then be offered customized discounts and good incentives to increase sales and improve customer experience.
Retailers also use data to decide where to open new stores, mexico phone number library which products will be best sellers, and how much of each individual product they need.
According to McKinsey , big data can help increase sales by around 60% across the supply chain. However, the same report notes that there is a risk of overestimating the power of big data and not taking advantage of other tools available to retailers.
Data-driven personalization
Companies can use data to personalize offers to individual customers based on their preferences. This can have a positive impact on sales, as the right offers are delivered to the right people at the right time.
On the other hand, data can help improve customer service to make shopping with you more convenient and enjoyable. This can be done by analyzing customer feedback or call center data.
To personalize communication, use purchase information, visit data, etc. In Passteam , you can set up integrations with CRM Quick Resto , Yclients and iiko . If you use another CRM system, you can use the CSV file import from your CRM.
Competitor Analysis
Another way to use data is to understand what competitors are doing to differentiate themselves. This can provide important information to improve your marketing strategies.
Some of the world's leading brands have recognised the impact big data can have and have invested in technologies that analyse its results.
L'Oréal, for example, uses cloud data integration across functions to develop innovative products. In the cosmetics industry, consumer demands change rapidly, and so do cosmetic products. L'Oréal is a global leader in consumer goods with approximately 37,000 employees in 130 countries. Cloud data integration provides access to information in real time. L'Oréal can create new products faster than its competitors and provide its customers with a more personalized service.
It is critical for retailers to understand how to effectively use data to achieve the best results. By understanding customer behavior and purchasing patterns, retailers can make informed decisions on how to improve customer service, personalize and engage with customers, increase sales, and create better marketing strategies.
The collected data gives owners a clear picture of their business across all channels. This shows the real needs and preferences of customers and helps create an engaging customer experience that will keep customers coming back again and again.