Future of Retail: How Companies Can Employ Big Data to Create a Better Shopping Experience
derning Shiny Day
From healthcare to finance to professional sports, data is being collected and analyzed like never before — but much of […]
From healthcare to finance to professional sports, data is being collected and analyzed like never before — but much of it goes on behind the scenes where the average person may not even notice. The retail sector, however, is different. By definition it interacts with average folks in a way that few other industries do, and retailers are interested in learning as much about their customers as they can. In the process, they are radically altering the buying experience for customers — both online and, increasingly, also in the world of bricks and mortar stores.
One company that hopes to give traditional retailers the kind of analytic tools available to ecommerce firms is RetailNext. The firm has developed a computer program that uses a store’s security cameras to give managers all kinds of information about how consumers interact with the store.