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Big gains from big data analytics
 

Big gains from big data analytics

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While retailers are struggling to understand their digitally savvy shopper, consumer goods companies are looking at next growth markets as demand accelerates in emerging economies. ...

While retailers are struggling to understand their digitally savvy shopper, consumer goods companies are looking at next growth markets as demand accelerates in emerging economies.

There are challenges facing retail and consumer goods organizations, as they find new ways to collect and analyze data from consumers with a renewed focus on business intelligence.

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    Big gains from big data analytics Big gains from big data analytics Presentation Transcript

    • Big Gains from Big Data Analytics How Retailers and Consumer Goods Makers Can Benefit in a Digital World1 © 2012 WIPRO LTD | WWW.WIPRO.COM
    • HIGHLIGHTS Big Gains for Retailers & CG Makers from Analytics While retailers are struggling to understand their digitally savvy shopper, consumer goods companies are looking at next growth markets as demand accelerates in emerging economies. There are challenges facing retail and consumer goods organizations, as they find new ways to collect and analyze data from consumers with a renewed focus on business intelligence.2 © 2012 WIPRO LTD | WWW.WIPRO.COM
    • Understanding the Digital Immigrant  Phenomena like “show-rooming,” where consumers and shoppers may check out products at one retailer’s physical store but purchase them online from rival retailers shows consumers are less loyal than ever  By 2014, 17% of all consumer products will be bought online. That is still good news for bricks-and-mortar retailers because it means a significant part of the purchases will still occur in stores  Customers may look up a product online and purchase it in a store and get it shipped to their home or pick it up from a store. They may, on occasion, want to return the product as well  Today’s consumers and shoppers are looking for a seamless experience across channels. Retailers need to provide shoppers with a consistent and differentiated shopping experience across multiple sales channels in order to attract and retain their patronage Retailers around the globe are rapidly embracing technology to access and analyze more data and to better understand consumer behavior3 © 2012 WIPRO LTD | WWW.WIPRO.COM
    • The Journey from Art to Science In earlier days, retailers would study Today’s retailer is using advanced sales data at the end of the day or week analytics to understand not just which for information on the types of products products digitally savvy shoppers and sold, and the price points to plan future consumers look up and buy on their inventory levels and promotions websites, and those of rivals, but also what other products they bought and the relationships between them Retailers use technology to build data on IT tools are helping to generate a host of loyalty cards, responses to customer new data in addition to point of-sale data. satisfaction surveys, traffic counters at Social media also brings large but store entrances, and transaction data unknown potential for them. Business from Internet sessions, including what intelligence derived from advanced data consumers look at and what they buy, analytics flows back up supply chains to social media, in store technology such as help achieve efficiencies RFID chips, video and digital shopping assistants4 © 2012 WIPRO LTD | WWW.WIPRO.COM
    • Collaborative Strategies and the Way Ahead • Retailers and companies can collaborate to react faster, reduce Collaboration inventory and also reduce the total cost of ownership across the value chain • Collaboration is key as retailers sell with multiple partners Multiple Partners including banks, credit card companies and mobile phone service providers • Omni-channel retailing will be the big game changer, impacting Multi-Channel supply chain infrastructure, manufacturing, operations and related issues. • Mobility, cloud technology and social media are “the technology Technology Enablers disrupters or enablers, depending on which side of the table you are5 © 2012 WIPRO LTD | WWW.WIPRO.COM
    • Advanced Technology Tools Many companies have The retailer places that begun creating infrastructure on a Cloud technology private clouds, public cloud, and uses plays an important role public clouds and it in a pay-per-use as retailers and format. The cost of consumer goods hybrid cloud platforms to ensure infrastructure companies try to disappeared overnight, manage the new “big that information is seamless and and the operating data” loads cost got accessible in real time across all the locations variabilized6 © 2012 WIPRO LTD | WWW.WIPRO.COM
    • Precision Retailing, “Eaches” & New Frontiers  The granular level of customer data now available allows retailers to customize their offerings. In what is called “eaches” (customized for each customer) or precision retailing, retailers have prior information about customer needs and how best to reach out to them  Some consumer goods companies that cannot freely use conventional marketing channels are able to target specific customers with promotions through smartphones and tablets  Large multinational retailers and consumer goods companies are finding huge untapped opportunities in emerging economies. India recently made it possible for foreign investors to invest in multi-brand retailing, paving the way for the global retailers to launch operations there7 © 2012 WIPRO LTD | WWW.WIPRO.COM
    • For more details please visit the link below: http://www.wipro.com/Documents/big_gains_await_retailers _consumer_goods_makers_in_a_digitally_savvy_analytics- driven_world.pdf8 © 2012 WIPRO LTD | WWW.WIPRO.COM
    • About Wipro Council for Industry Research Wipro set up the Council for Industry Research, comprised of domain and technology experts from the organization, to address the needs of customers. It specifically surveys innovative strategies that will help customers gain competitive advantage in the market. The Council, in collaboration with leading academic institutions and industry bodies, studies market trends to help equip organizations with insights to facilitate their IT and business strategies. For more information on the Research Council visit www.wipro.com/insights or mail wipro.insights@wipro.com9 © 2012 WIPRO LTD | WWW.WIPRO.COM
    • About Wipro Technologies Wipro Technologies, the global IT business of Wipro Limited (NYSE:WIT) is a leading Information Technology, Consulting and Outsourcing company, that delivers solutions to enable its clients do business better. Wipro Technologies delivers winning business outcomes through its deep industry experience and a 360 degree view of “Business through Technology” – helping clients create successful and adaptive businesses. A company recognised globally for its comprehensive portfolio of services, a practitioner’s approach to delivering innovation and an organization wide commitment to sustainability, Wipro Technologies has over 135,000 employees and clients across 54 countries. For more information, please visit www.wipro.com10 © 2012 WIPRO LTD | WWW.WIPRO.COM
    • Thank You ©Wipro Limited, 2012. All rights reserved. For more information visit www.wipro.com No part of this document may be reproduced in whole or in part without the written permission of the authors. Wipro is not liable for any business outcome based on the views presented in this document. For specific implementation clients should take advise from their client engagement manager.11 © 2012 WIPRO LTD | WWW.WIPRO.COM