LONDON--(BUSINESS WIRE)--Quantzig, a global analytics solutions provider, has announced the completion of their recent whitepaper on the key areas where retail industry players can apply analytics.
Analytics and data are transforming the way businesses function today. Analytics, when applied in pricing strategies, customer retention strategies, loyalty programs, space planning, and innovation can be effectively used for profitable growth. The uncertainty in economic factors, changing industry landscape, and customer preferences are forcing players in the retail industry to adopt innovative solutions to improve their bottom line. In this whitepaper, Quantzig lists the key areas where retail industry players can apply analytics.
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“Retail analytics helps produce profound insights across the entire value chain of retail firms including- sales, marketing, procurement, customer management, store operations, and supply chain,” says an expert from Quantzig.
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Key areas where retail industry players can apply analytics:
- Forecasting retail trends: In the present retail market, businesses have many innovative tools that help them measure current trends in the industry. However, analytic solutions and algorithms help them stay a step ahead by predicting retail trends to examine and focus on key areas that need improvements.
- Pricing and profitability management: Pricing is a very important lever that helps advance both top-line and bottom-line growth to drive profitability. Retail analytics helps to expand the way retailers set, evaluate, and differentiate their pricing strategies from that of their competitors in a justifiable manner.
- Enhancing customer engagement: The process of finding, retaining, and refining customer experience has become imperative with retailers gradually focusing on obtaining new capabilities to capture and apply customer insights.
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Download the complete whitepaper on the key areas where retail
industry players can apply analytics here:
Quantzig is a global analytics and advisory firm with offices in the US, UK, Canada, China, and India. For more than 15 years, we have assisted our clients across the globe with end-to-end data modeling capabilities to leverage analytics for prudent decision making. Today, our firm consists of 120+ clients, including 45 Fortune 500 companies. For more information on all of Quantzig’s services and the solutions they have provided to Fortune 500 clients across all industries, please contact us.