Retail Analytics: A Guide for Growing Businesses [07/18 Update]

Retail analytics is a process that helps to provide crucial data for businesses with regards to inventory, sales, supply chain activities, consumer demand, and more. By implementing an analytics-driven retail environment, organizations can make better decisions for procurement, marketing, merchandising, and other operational considerations. This, in turn, enables retailers to create a better buying experience and for identifying opportunities for organizational improvement. 

Some questions that we will answer in this blog include:

What are the benefits and importance of retail analytics?

What are some current trends in retail analytics?

How can AI impact retail analytics?

What are some challenges to effective retail analytics?

What are some common tools associated with retail analytics?

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A constant state of innovation: IBM

Thomas J. Watson Sr. joins Computing-Tabulating-Recording Company (CTR) in 1914 and over the next two decades transforms it into a growing leader in innovation and technology. He built a worldwide industry; it is called to International Business Machines Corporation (IBM) in 1924. According to Fortune 500, IBM is ranked as one of top 10 firms in 90’s. Let’s take a look at the roadmap of the IBM in the digital transformation, it consists not just software, hardware and services include cognitive solutions and cloud platform. IBM’s Bekas explains that we simply can’t scale enough hardware to solve this. “Ultimately, hardware can’t beat computational complexity. You need to have a combination of algorithmic improvement and hardware development,” Read more

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