Big Data in Retail - Examples in Action
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Big Data in Retail - Examples in Action

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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, ...

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

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Big Data in Retail - Examples in Action Big Data in Retail - Examples in Action Presentation Transcript

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