Customers leave behind an incomprehensible amount of data while they go about shopping. Making sense of that data and reacting in real time are the two things that will keep companies one-step ahead of their customers (and competition) in the present-day customer-centric world.
Today, the average customer is spoilt for choice. Every time he goes shopping, he expects highly personalized, relevant offers. One poor interaction with a brand, and poof, the customer’s gone, almost-certain never to return. Customer retention’s turning into customer obsession, and only companies with the ability to paint a highly granular image of their customers will survive. Marketing teams cannot take 24 hours or more to react, their response to customer needs must be almost instantaneous.
Two things are a must for marketing success today - Big Data and Analytics. A slideshow
In the first part of this blog post, we had read about how data analytics is being used by restaurants and fast food chains in customer segmentation.
Today, we will look at how analysis helps to build, or rather, re-build a restaurant’s menu. That’s right. Analytics can play a big role in not only determining a menu but also working “behind the scenes” and improving kitchen efficiency.
One of the oft-quoted examples
Big Data and its analysis has come as a disruptor for the food industry, more so for restaurants. There was a time when restaurants were largely run on the gut feelings of a manager or the whims and fancies of the owner. Those days are fading away.
Restaurants now have a new “help” - data analytics - to get a leg up over competition, as well as to grow, leveraging on
As we did read in the first part of this blog post, the chatbot space is relatively new. Not all bots are equal, and not many are configured around Artificial Intelligence (AI) yet. But that’s gonna change real quick.
Remember, bots are built with a purpose. For now, there are two types of chatbots out there – one built with limited programming for a limited purpose, and the other with AI,
It’s now clear that chatbots are not just a passing ship in the night. Over 2.5 billion people worldwide use messaging platforms like WhatsApp, Facebook Messenger, or Telegram, all of which are chatbot centric. Twitter, for example, introduced a bot-like feature within its Direct Messaging service to enable brands to interact more frequently with customers.
Thus, bots are here to stay, but the question that businesses must address today is –
In the first part of this blog, we looked at how Artificial Intelligence (AI) has changed the supplier side of the retail eco-system, especially on two fronts - Price and Product Offering. In this post, we shall analyze how it has affected the buyer's journey at almost every step of the way.
As most of you will know, a buyer's journey starts from the awareness stage, where he comes to learn
Never before have customers been more in control of the retail trade than today. But are they really? Or has the retailer wrested control of the exchange? Let's revisit this in the light of new technologies and sensors deployed in this "game".
In the sixties through the eighties, Sears, Walmart and K-mart kind of super stores aggregated purchase information to decide what to buy and stock their shelves. Improving the scale
Do you meet Express Analytics' criteria for being an omnichannel retailer? Read on... and don't forget to take the test.
How do you know whether your business has the potential to play with the big boys? Take our test:
Can your customers buy online and pick up in store?
When your business has a brick and mortar storefront, one of the greatest issues is getting people to come to the store as
Artificial Intelligence (AI) is changing the way you shop online. Specifically, it’s driving a change in two areas – search and customer service.
Advancements in AI like deep learning and machine leaning combined with the rise in mobile commerce are now being put to use by retailers and e-commerce sites such as Amazon to improve the lives of online consumers. Both are software that learn to perform complex tasks without active