BLOG

4 Retail Analytics Trends Driving Business Outcomes in 2019 & Beyond

May 14, 2019

As the retail landscape grows increasingly complex, leveraging retail analytics to better understand the business environment is more of a necessity for retailers looking to up their game. Looking ahead to 2019 and beyond, our experts predict that there would be a significant surge in analytical investments by players across industries. Such initiatives are poised to drive competitive advantages for data-driven organizations, both large, well-established entities as well as smaller retail chains. At Quantzig, we’re continually capturing inputs from our clients, and over the course of the year, we’ve noticed a few trends that have affected several business aspects of retailers. Our analytics experts have curated a list of the top four retail analytics trends that are key drivers of transformation in the retail industry.

Want more insights on the top retail analytics trends? Get in touch with our experts to gain in-depth insights into the retail analytics trends that are set to change the retail landscape this year.

Top 4 Retail Analytics Trends: 2019 and Beyond


Customer Experience is more Important than Ever

Today success in the retail industry revolves around offering great customer experiences. To succeed in the competitive retail landscape businesses are focusing on adopting a more customer-focused approach rather than a product-focused one. With such transformations in full swing, there’s a need for a renewed focus on customer metrics. Though companies understand the role of customer satisfaction in sales growth, not every retailer can understand the potential of customer metrics, and how they impact customer journeys. However, as customer metrics begin to take center stage, retail analytics trends that focus on improving customer churn, customer retention, NPS, emotional scoring, and digital reach are poised to become the key drivers of business success.

AI-Powered Retail Analytics Helps Maximize Business Outcomes

AI-based retail analytics trends have brought about several transformations in the retail industry. As such, retailers all over the globe are actively looking at harnessing the power of artificial intelligence to drive profitability. The use of artificial intelligence techniques is poised to bring about several changes in the retail landscape. The adoption of AI-based retail analytics trends is expected to aid business growth in the following ways:

  • Accurate prediction of inventory levels to increase on-shelf availability
  • Better pricing decisions
  • Natural language generation to become a core part of the analytics stack for enterprises

Have you considered investing in retail analytics in 2019? If yes, it’s probably the best decision. Learn more about the benefits of retail analytics from our experts.

Retail Analytics takes Inventory Awareness to New Levels

In today’s highly competitive and quickly changing retail environment, businesses that are equipped to meet and exceed customer expectations have a clear competitive advantage. Retailers capable of tracking and monitoring their inventories will be better positioned to maximize business growth. After all, all it takes is one bad experience due to bad inventory data to lose your customer’s trust.

5G Networks allow Retailers to take a Leap Forward

Today the world is on the cusp of another technological innovation. A few years ago, mobile BI was not really the area of focus for retailers due to the lack of BI development tools. However, the majority of such issues have been resolved today, and 5G networks are expected to lay the infrastructure for autonomous vehicles to communicate with the internet and deliver goods from retailers to their customers. Faster connectivity will eventually make it possible to leverage real-time, augmented, and virtual reality tools.

Ready to Harness Game-Changing Insights?

Request a free solution pilot to know how we can help you derive intelligent, actionable insights from complex, unstructured data with minimum effort to drive competitive readiness, market excellence, and success.

Recent Blogs

Workforce Management Trends of 2021

Workforce Management Trends of 2021

Driven by the disruption of COVID-19 and enabled by technology, the world’s business leaders can redesign workforce management and redefine ways of working. Organizations are now rethinking workforce management, planning, performance, and experience strategies. Now,...

read more
Tech Trends 2021

Tech Trends 2021

After disruptions caused by the coronavirus crisis starting in 2020, businesses are looking forward to getting back on course and becoming sustainable. 2020 has created havoc and made holes in long-standing norms about how companies operate. It has become evident that...

read more
Sustainable Supply Chain and Big Data Analytics

Sustainable Supply Chain and Big Data Analytics

Sustainability concerns are sprouting up in every industry. A growing population of consumers now prefer eco-friendly and sustainable businesses. Organizations are striving to address this concern, while improving internal systems and processes, by developing supply...

read more

Industries

Our advanced analytics expertise spans across industries, sectors, and functions, which enables us to deliver robust, agile solutions to all our clients. These are our core competencies, formed through years of experience.

Insights

Our free resources shed light on our extensive expertise and equip you with information to accelerate decision-making, growth, and innovation.