LONDON--(BUSINESS WIRE)--Global procurement intelligence advisory firm, SpendEdge, has announced the release of their ‘Retail Analytics Services Procurement Research Report.’ The insights and data in this report provide a strategic analysis of the supply markets, factors influencing purchasing decisions, procurement best practices, pricing models, supplier landscape, and an analysis of the supplier capability matrix for the professional services industry. This report breaks down the data and analysis behind the strategic procurement of retail analytics services and acts as an all-inclusive guide for making smart purchasing decisions.
“The growth of the retail analytics services market is triggered by the rapid growth in the number of organizations using analytics services,” says SpendEdge procurement analyst Tridib Bora. “An increasing number of new analytics service firms in developing countries, especially in APAC, are providing actionable insights to retail chains across the region,” added Tridib.
Key Report Features
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Supply Market Insights
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Negotiation Strategies
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Procurement Best Practices
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Category Risk Analysis
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Cost Saving Opportunities
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Key Supplier Analysis
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Pricing Models
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Supplier Capability Matrix
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Report Insights
- The exponential rise in volume, variety, and velocity of data that is being generated across the globe is expected to double approximately in every 18 months. This has resulted in data explosion across different sectors, including retail sector. The retail industry has witnessed an exponential rise in volume, variety, and velocity of data across different regions and sales channels. This is leading to the market growth for the global retail analytics services market.
- Purchasing managers must collaborate with service providers that use end-to-end retail analytics solution. This will help in real-time self-service visualization and data discovery across multiple platforms.
- Retail chains have their stores across locations where the sales/inventory data are predominantly stored and handled in silos. Retail chains find it increasingly difficult to collect all the company’s data under one platform as the sales are from a wide variety of channels. Henceforth, it is difficult to integrate the data acquired from different channels, and this causes data quality issues.
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Retail Analytics Services Pricing Trends
The two most widely implemented pricing model in the retail analytics market are transactional-based pricing and FTE-based pricing. The transactional-based pricing offers high transparency in pricing and closely mapped spend by optimizing purchasing managers’ business cycle. However, FTE-based pricing model helps to reduce managerial complexities as prices are fixed at the beginning of the contract.
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