Big Data in Retail - Examples in Action

108,220 views
117,539 views

Published on

This use case looks at how savvy retailers can use "big data" - combining data from web browsing patterns, social media, industry forecasts, existing customer records, etc. - to predict trends, prepare for demand, pinpoint customers, optimize pricing and promotions, and monitor real-time analytics and results. For more information, visit http://www.IBMbigdatahub.com

Follow us on Twitter.com/IBMbigdata


Big Data in Retail - Examples in Action

  1. 1. big data, big opportunities:retail industry
  2. 2. It is the busiest shopping time of the year
  3. 3. and one video game is flying off the shelves.
  4. 4. In the past, storesthat reacted to thisdemand the fastest...
  5. 5. had the advantage.
  6. 6. But today, top retailers are using BIG DATAto gain a competitive advantage
  7. 7. Predicting trendsedicting trends
  8. 8. and preparing for future demand.edicting trends and preparing for future dema
  9. 9. BestMart wants to become the salesleader for video games this season.
  10. 10. Their work startedmonths ago...
  11. 11. First, BestMart needs to predict the hot gaming item for this season.
  12. 12. Big data analytics combines enterprise data with other relevant information
  13. 13. to create predictive models of trends.
  14. 14. BestMart also uses big data to predictareas where demand would be greatest.
  15. 15. Now they can stock up anddeliver the right number ofgames to the right channels.
  16. 16. Then, big data insights can providethe base for price optimization models.
  17. 17. Real-time analytics help BestMartsynchronize prices hourly with demand, inventory and the competition.
  18. 18. Next, BestMart wants to pinpoint thecustomers who will likely buy this game
  19. 19. by segmenting customers according to expected buying behavior
  20. 20. contacting them as they wish to be reached
  21. 21. when they are in the right location
  22. 22. and engaging them withpersonalized real-time offers.
  23. 23. Finally, BestMart wants to know what other items customers would likely purchase with this game.
  24. 24. Big data performs deeper analytics on all data
  25. 25. to find meaningful patterns and hidden insights.
  26. 26. BestMart uses this insight to create an exclusive console and game bundle.
  27. 27. Ultimately, retailers using big data technology
  28. 28. are able to provide a smarter shopping experience
  29. 29. to influence purchase decisions
  30. 30. and edge out the competition.
  31. 31. Learn more about big data at IBMbigdatahub.com

×