The impact of Big data analytics on the retail industry is
very clear. Technologies and tools are steadily mature. Big data analytics
is providing actionable insights on consumer buying patterns so that retailers
can increase sales volume and enhance customer search experiences.
With
indoor location-based technology, store owners can
retrieve a shopper’s search information and offer unique incentives to bring a
strong value-added component in their digital and CRM strategy.
According to Rakesh Panda, one of Technavio’s lead analyst for sensors research, Advertising companies such as Near use big
data analytics to understand consumer insights.
In fact, with the help of analytics, retailers can extract all relevant
information about consumers, based on their movements inside stores and
browsing patterns on the Internet. Based on the information gathered,
retailers can send relevant advertisements to these targeted consumers.