The document discusses how big data analytics can help retailers optimize their business operations and customer interactions. It explains that big data allows retailers to maintain a 360-degree view of each customer by understanding their preferences, behaviors, and attributes. This enables personalized engagement and targeted marketing. Big data also helps retailers optimize pricing by anticipating trends, streamline supply chain and inventory management, and enhance customer service by analyzing customer support interactions and feedback. Overall, the document outlines how big data is essential for retailers to target and retain customers while improving business decisions and reducing costs.

1. k.Sivapriya
II.Msc(IT)
Nadar saraswathi college of Arts and Science
Theni

2.  To stay competitive, retailers make better
buying decisions, must offer relevant
discounts, convince customers to hop on new
trends, and remember their customers’
birthdays—all while making the business run
behind the scenes. How do they keep up? Big
data in retail is essential to target and retain
customers, streamline operations, optimize
supply chain, improve business decisions, and
ultimately, save money.

3.  Big data analysis can predict emerging trends,
target the right customer at the right time,
decrease marketing costs, and increase the
quality of customer service. Common benefits
of using big data in retail include:
 Maintaining a 360-degree view of each
customer — Create the kind of personal
engagement that customers have come to
expect by knowing each individual, at scale.
 Optimize pricing — Get the most value out of
upcoming trends and know when, and how
much, to decrease off-trend product prices.

4.  Streamline back-office operations — Imaging
maintaining perfect stock levels throughout the
year and gathering data from registered
products in real-time.
 Enhanced customer service — Unlock the
customer service data hiding in recorded calls,
in-store security footage, and social media
comment.

5.  The “360-degree view” term gets thrown
around a lot, but what does that mean? It all
boils down to a comprehensive picture of a
customer that is as accurate as possible.
Retailers need to know a customer’s likes and
dislikes, their likelihood of using coupons, their
gender, their location, their social media
presence, etc.

6.  Big data gives businesses an advantage when
pricing products. Consistently monitoring
relevant search words can enable companies to
forecast trends before they happen. Retailers
can prepare new products and can anticipate
an effective dynamic pricing strategy.

7.  Anyone who has worked in retail has
experienced that sinking feeling when their
stock is depleted. For the rest of their shift, that
manager will be dealing with angry customers.
Ideally, companies would eliminate this
situation entirely. While that may not always
be possible, big data can help companies
manage supply chain and product distribution.

8.  Think about the last time you called a toll-free
number. Usually, there is a warning that your
call will be, “recorded for quality
purposes.” big data analysis can bring top
issues from those recorded calls to light, and
then measure the success of company-led
quality changes over time.