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Analytics And Artificial Intelligence: Keys To Success For The Big Retail In 2019
Whether you have an online store or you are in the process of creating a new internet business, we are sure that you constantly think about how you can grow your income, improve the purchasing process and offer the best customer experience for retain them . Analytics and artificial intelligence are two key factors behind the success of the large retailers as it allows them to make better business decisions and increase their profitability by designing memorable and relevant experiences for their consumers.
Analytics in eCommerce? Start with a strategy
Analytics and artificial intelligence solutions strengthen relationships with consumers
The technology provided by analytics and artificial intelligence has helped them capture the attention of customers as well as guarantee their loyalty .
With almost endless options when searching for a product in both supermarket aisles and online stores, retailers and consumer product manufacturers must take advantage of the tools available to achieve these goals.
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In 2019 these tools include AI and analytics solutions that make it easy to get the most out of customer , price and supply chain data to transform it into better decisions and juicier profit margins.
During the 108th edition of the annual NRF convention, held in New York, the global analytics solutions company SAS has presented emblematic success stories that illustrate the direction the retail industry is taking with the big players that are already being benefited by these solutions.
One of the cases where AI and analytics solutions have been very beneficial is Ascena , the American retailer of women's clothing. With SAS analysis and marketing software, Ascena has managed to manage and analyze the data of all its stores, brands and channels.
This omnichannel analytics approach has helped company executives make critical business decisions , such as selecting the geographic distribution and size of their stores.
In addition, they have also been able to quickly implement improvements that increase customer satisfaction as well as set the most convenient prices in order to guarantee market share.
Another American chain store benefited by the power of analytics and artificial intelligence solutions is Belk , which has nearly 300 department chains in 16 states in the United States.
With these SAS analytics and AI solutions, you are driving your digital transformation in addition to your omnichannel efforts by offering the correct size and styles of merchandise , thereby improving customer satisfaction and profitability.
SAS solutions optimize omnichannel retail
Dan Mitchell , global director of retail at SAS commented through a press release that “all companies in the retail industry today must have analytical and artificial intelligence solutions to do a correct data management to get the make the most of the hundreds (or thousands) of online and offline touchpoints where they interact with potential and captive prospects . ”
In a market that is constantly moving and where proper communication is required at the right time with customers, retail companies will be able to build consumer trust with brands
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