Big Data analytics is very essential in getting to know what a customer demands, including the pricing, marketing, supply chain, and merchandising. Retailers, nowadays, simply scuba-dive into the analytics, so hungry to get to know what the market actually demands from them, fulfilling the needs, marching ahead with the success.

When it comes to retail sector, competition has touched the heights; old-school thinking of decision making - such as sales history, employee experience and assumptions - are no more trendy or helpful. Today's retailers rely on facts, numbers, metrics, and a rigid plan to their business.

To overcome customer-centric decisions, retailers and many big names have used retail analysis to carve out the shopper needs, providing a flawless experience to the customer. A precise knowledge of what the customer requires, holds the biggest role; unless and until you grab the customer requirement, you won't be able to gain the loyalty. This makes the retailers to design the market as per the products which are highly in demand, personalizing it as per the customer desires. As per the records of Accenture, throwing a good shopping experience will always lead to excessive shopping, repetition of the purchases, customer referrals, customer engagement, and revenues.

There are companies which function mostly in silos - means that all their data insights and numbers are fragmented, filled across the pockets of the organization. This has become a bad idea these days, because integrating your efficiency and unifying your data, will help you get a clearer picture of your business results.

To enhance the operational performance across all the mediums, retail data analytics can always help the retailers and suppliers to check for the store-level demand and rectify it before the time comes. This, later ensures that the consumer demands are fulfilled. This also helps to manage the seasonal stocks, trend forecasting, and to generate opportunities to cross-sell to maximize revenue.

These days, businesses, they always prefer to know what the customer is saying about their brand. Because directly or indirectly, if they are selling a product, it’s always a customer who will either praise or spoil the name of the brand. Till it’s praising, none of the businesses mind, but as soon as it comes to ‘spoiling the brand name’ the businesses become precautious. This is the reason retailers or brands have started to survey and take feedbacks from the customers, to either rectify their misleading concept or to modify the products that might cause them a ‘bang’.

Though it has always been a difficult task to directly communicate with a consumer, but it has always been easier through surveys. People always spare enough time to dedicate their valuable feedback, specially to the brands which they feel is the closest to them (brand freaks, you know!).

This is how a retailer grabs the needs and complaints from a customer, making sure that they are getting the worth of their money. There is a concept called ‘Machine-learning based approach’, which enables the retailer to get along with the sentiments of the customers, making sure that they aren’t losing even a single of it. This makes the retailer to get into the crux, and thus helps in decision making.

Retailers work hard to get customers. This customer churn analysis feature helps you to understand on what the customer actually demands and how can you retain them. As soon as you plan to retain a customer, you are potentially improving the bottom-line.

You need to know what are the points wherein your customer will get hurt, and what are the points which will strengthen your customer. This will eventually help you to improvise the customer relations.

You need to know what are the points wherein your customer will get hurt, and what are the points which will strengthen your customer. This will eventually help you to improvise the customer relations.

Analyze and target the customers who are easy to fall away some better workflows designed with a better science and data.

This helps in understanding the customers, linking all their feedbacks with their data to enhance understanding their requirements and improve loyalty.

Understanding the market size, market stage, competitiveness, attractiveness, and trends are the key points that help to enhance to the Market Analysis. This eventually leads to a better targeted persona. As per this analysis, a retailer can easily make out the demands of a particular product, what needs to be implemented to overcome the demands, how are the present stocks dealing with the demands, etc.

This helps a lot to the retailer, as well as the consumer to get to know the things as well as overcome the demands.