Leveling the Playing Field: #MobileLocationAnalytics | #RetailCustomerAnalytics

This is an interesting article on how Mobile Location Analytics (aka Beacon Technology) is helping brick-and-mortar retailers compete effectively with online retailers by capturing customer behavior near and in the store.

You can read the article below, however, the question for you is how will you incorporate this new data source once it is provided to you by the retailer?

Will your rigid, difficult to modify, DSR incorporate this data stream in a timely manner – or the usual months or years that data model changes sometimes take in a data warehouse environment.

Contact us today to discover how Vortisieze analytics can rapidly adapt to new, sometimes ad hoc (think your latest spreadsheet creation), data sources.

Source: Leveling the Playing Field: Mobile Location Analytics

#MobileLocationAnalytics
#RetailCustomerAnalytics
#CPG
#CPGMarketing

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Retailers to increase IoT spend fourfold by 2020 to US$2.5bn | #BigData #TechnologyTrendsInRetail

Anticipating the winds of change, major retailers are expected to increase their investment in internet of things (IoT) technology fourfold to US$2.5bn by 2020.

In the commercial space, IoT in retail is one of the clearest examples where connected network technology could have a significant impact on customer interaction in stores.

In particular, retailers have already begun investing in IoT hardware, including Bluetooth beacons and radio frequency ID (RFID) tags that allow them to send information to them in-store and keep a tab on stock and price levels, respectively.
Read more . . .

How will your DSR handle all that new, differently structured data? (Hint – it won’t!)
Contact us today to discover how Vortisieze analytics can bring this, and many more, types of data to your analytics package.

Source: Retailers to increase IoT spend fourfold by 2020 to US$2.5bn

#BigData
#CPG
#CPGMarketing

#TechnologyInRetailIndustry

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#Retailing: Target Launches Beacon Test In 50 Stores – #TechnologyInRetailIndustry

 

Target, the second largest general merchandise retailer in the U.S., announced this morning that it will start testing beacon technology in 50 of its stores nationwide. With beacon technology, the company says it will be able to send information about deals as well as recommendations directly to consumers’ smartphones, provided they opt in to receive these alerts.

 

Initially, the beacon technology will work with those users who have the latest version of the Target iPhone app installed on their phones and have Bluetooth turned on.

Techcrunch.com is reporting this in an online article published on August 5, 2015.

Beacon technology is emerging as the newest way to technologically engage the consumer.  As you read the article you will probably begin thinking of new ways to promote your brand in partnership with the retailer.  Especially when the retailer begins to tie the recipient of the beacon to the POS at the cash register.

And – assuming retailers will make this data available to vendors and suppliers – this will provide a way to draw new insights into the consumer.  However, using an old-style data warehouse can slow the availability of these analytics because it requires a lot of planning and work to add a new data source to an existing DSR (demand sensing repository).

One of the benefits of the “big data” trend is the ability to bring in any data source – structured or unstructured – without impacting the existing data.  New data sources added within hours or days, not months or years.

Imagine designing a promotion that specially targets those who have demonstrated tendencies to purchase similar products (perhaps from your brand competitors) and pulling those consumers into your brand family.

It opens a new world in retailing and begins to level the playing field between brick-and-mortar and online retailers who have used similar techniques online through collecting the browsing and purchase history of consumers.

This is only useful when the data is available to the analytics engine to provide you meaningful insights to share with your buyer.  Big data technologies provide the ability to have new data & analytics delivered to you for insightful action.

Contact us today for a complimentary consultation.

 

Source:  Target Launches Beacon Test In 50 Stores

#TechnologyInRetailIndustry