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Why you need to implement omnichannel retailing straightaway

There was a time when retailers could only fantasize about selling everywhere. It was a retailer's version of a Utopian dream. Then came technology and big data analytics, and boom, omnichannel retail suddenly was achievable. Omnichannel shopping is really a continuity of the shopping experience. Technology has blurred the lines between brick and mortar shops and online shopping, and between devices. With footfalls dropping, and the retail space getting even more

5 ways to a better customer experience

How many times have your customers remarked after an interaction with your business - what an excellent experience? Whether you are a B2C or B2B company, the customer is king (sounds clichéd but it’s true), and customer satisfaction is your business’ ultimate aim, if it has to remain competitive. For that, you need to look at things from a customer’s perspective, not from a seller’s viewpoint. The spotlight, thus, is always on

How data driven decision-making helps restaurants buck the trend

A couple of blogs posts ago we had talked of how data was fast becoming a very critical component in a restaurant's kitchen. Bloomberg Gadfly columnist Shelly Banjo, who covers retail and consumer goods, recently wrote a column on how almost all the big restaurant chains in the United States had reported a drop in sales in Q2, 2016, hinting at an industry downturn. While we are not getting into the

Data is most important item on a restaurant menu today

Which is the single most important ingredient in today’s restaurant business? It’s data. Surprised? Don’t be. In the face of extreme competition, restaurants, especially quick service restaurants (QSR) (where time is of essence) are increasingly turning to data analytics to reduce costs, increase revenue, and pump up profits. It’s an industry where time is money, where margins are small but volumes, large. In today’s digital world, electronic transactions have opened the sluicegates

Why Adaptive Personalization is getting critical for business

Way back in 2010, one of the conclusions of the IBM ‘Global CEO Study’ was the acknowledgement by 88% of CEOs that their priority was to get their businesses closer to customers in the next five years. Yet here we are, at the start of 2016, and it would not be an exaggeration to state that many global businesses are still far from achieving this target. Many companies still find themselves

The many benefits of customer segmentation

This is the last in the series of the ‘Operationalizing Data Analytics’ blog posts but certainly not the least important. Readers may recall an earlier post in this series called, ‘How To Build A Customer Profile Base’. Today’s post is the next logical step ahead - segmenting your customers. So getting straight to the point – what does segmenting mean and why and how should businesses do it? In any business,

Drawing up a prospects list for your business

In my previous blog post, we learned how to build a customer profile database, and the challenges while doing so. Taking off from there, today, I shall explain how to go about making a prospects list. Definition: A prospects list is a place very much like a catalogue of those people or companies most likely to benefit from the products or services offered by you or your company. In fact, the

How to build a customer profile database

As I had promised in my previous post, I start off today's post by explaining how an Enterprise can operationalize analytics. The biggest challenge before any Enterprise, be it a B2B or B2C company, is – getting to know the customer. Build a customer interactions database. This is the first of the six important steps in operationalizing analytics for any company, and often one where many falter. But before you go

Retail is increasingly relying on data analytics to retain customers

The digital transformation of retail and the need for Analytics There used to be a time not so long ago when shopping was a flat, unidimensional experience. There was the retailer and there was the customer. The first had something to offer; the latter could either take it or leave it. Somewhere in this equation there used to be some sops on offer like price cuts or freebies as customer bait. Computing

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