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food delivery companies

Why Online Food Delivery Companies Bet Big on AI and Machine Learning – A CXO’s Guide

food delivery companies

After several years of being confined to technology labs and the pages of sci-fi books, today artificial intelligence (AI) and big data have become the dominant focal point for businesses across industries. Barely a day passes by without new magazine and paper articles, blog entries, and tweets about such advancements in the field of AI and machine learningHaving said that, it’s not very surprising that AI and machine learning in the food and beverage industry have played a crucial role in the rapid developments that have taken place over the past few years.

Wonder why food delivery companies are keen on strengthening their AI and machine learning capabilities? We’ve got you covered. Request a FREE proposal for expert insights.

How Food Delivery Companies are Improving Performance Using AI and Machine Learning

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merchandising analytics

How Merchandising Analytics Helps European Retailers to Redefine Customer Experiences | Quantzig

The holy grail of modern retail business is to maintain an exceptional understanding of the consumer buying behavior, decision cycle, and path to purchase. Lack of complete insight into consumers buying behavior and journey leads to a decrease in customer satisfaction and loyalty. The European retail market is also facing a similar challenge. With the substantial increase in consumer data, it has become difficult for retailers in the European market to analyze the plethora of data and extract meaningful insights.

Quantzig’s merchandising analytics solutions help businesses to optimize merchandise assortments and store-front layouts. Request a FREE proposal today to gain comprehensive insights.

European retail players are increasingly leveraging merchandising analytics solutions to understand consumers’ purchasing behavior and deliver a consistent experience to customers. It also plays a crucial role in increasing ROI and improving outcomes.Re Furthermore, merchandising analytics is paving way for European retailers to improve enterprise-wide visibility, enabling actions that improve the product, placement, pricing, and promotion performance. In this article, our analytics experts have highlighted a few ways in which merchandising analytics is helping retailers to respond to customer needs at the right time and place resulting in improved customer loyalty and experience.

Merchandising analytics can offer actionable insights into visual merchandising displays and category planning to enable retailers to work smartly. Want to know how? Talk to our analytics experts now.


How Can Merchandising Analytics Improve Customer Experiences?

By optimizing in-store operations

Merchandising analytics solutions can help the retailer to analyze data obtained from the Internet of Things (IoT) devices and assists sales personnel to take necessary action in case of unexpected events. Also, it can help in optimizing store labor efficiency by capturing data of store personnel, including their in-store tasks and activities. Furthermore, this data can be used to create an optimized labor schedule.

Request a FREE demo to find out how our visual merchandising solutions can help you to optimize your promotional activities that are targeted at customer segments based on their buying behavior.

By focusing on customer centric assortments

With the increasing complexities in the European retail market due to growing political complications, and consumer expectations, it has become difficult for companies to know exactly what combination of product, place, and price will motivate consumers to buy more often. Merchandising analytics solutions are allowing retailers to develop customer-centric assortments that make it easier for customers to choose their merchandise when shopping in-store and online. Also, it is empowering sales teams with valuable consumer insights that help them perfectly align merchandise offerings with customers, markets, channels, and locations.

Gaining behavioral insights

In the customer-centric world, it has become essential for retail businesses to have the ability to capture and use consumer data optimally. With the use of merchandising analytics, businesses can analyze customer-buying histories and behavioral data to understand the typical purchase pathway of their potential customer segments. This can further help them prioritize specific customer outcomes such as reduced churn and improved cross-sell.

To learn more about the role of merchandising analytics in transforming retail business operations, Request for more information right away!

medical device industry

Three Applications of AI in the Medical Device Industry

Traditionally, players in the medical device industry have focused on delivering value through manufacturing and innovation alone. But this can no longer suffice as pressure on the medical industry has increased by three-folds owing to the foundational shifts in the business models. To succeed in the new normal those operating in the medical device industry will have to move out of their conventional roles and focus on integrating AI with their offerings to offer holistic solutions.

Today AI and analytics have become pervasive throughout the healthcare value chain, enhancing the ability of businesses to perform sophisticated data analysis to achieve improvements in numerous healthcare areas right from R&D to product development. Today, artificial intelligence plays a crucial role in managing patient data, streamlining medical diagnostics, and in enhancing the R&D efforts within the medical device industry. Moreover, with AI being analogous to human learning and decision-making, it has entrusted the ability to learn without the use of rule-based programming. This, in turn, has proved to be beneficial in empowering medical device industry players to model and gauge the impact of such transformations at a mind-boggling speed that has not been possible ever before.

With developments in AI and machine learning creating new opportunties for established and emerging companies across industries, it’s crucial for businesses to explore its true potential to succeed in the long-run. Request a FREE proposal to learn how we can help.

Three Ways AI is Transforming the Medical Device Industry

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marketing analytics

Everything Marketers Need to Know Before Implementing Marketing Analytics

Analytics has influenced all possible industries and business functions. Great importance has been placed on marketing analytics in recent times as it allows marketers to optimize all aspects of their marketing strategy. Today, digital marketing generates a lot of data that includes transaction data, online data, social media data, customer feedback, and customer data. The data collected can be used for further analysis to understand the customers and deliver favorable customer experiences. Marketing analytics can help decision-makers, right from the start by assisting in market segmentation, target marketing, and product positioning. But there are a few things that marketers must keep in mind while applying marketing analytics in business operations.

Our marketing analytics solutions can help you reduce maverick spend on marketing campaigns, identify irrelevant marketing channels, and improve marketing mix strategies. Request a free brochure of our analytics solutions right away to gain better insights!

MARKETING ANALYTICS BLOG

Tips for Marketers Before Implementing Marketing Analytics

Devise a smart marketing strategy

One of the primary steps for any organization to undertake before delving into marketing analytics tools is to devise an effective marketing strategy. There are many tools available in the digital marketplace that allows companies to construct tailor-made campaigns that revolve around their product and help brands speak highly about themselves. These tools are primarily based on the search engine audience sentiments that revolve around popular keywords, trending hashtags, and market trends among many others. They allow marketers to analyze and evaluate various aspects such as incoming leads, conversions, and website traffic. If marketers incorporate this workflow, key insights can be easily derived at the end of the campaign. These valuable insights can be applied to the next campaign or can be used adaptively if the campaign is long-term or recurring.

Talk to our analytics experts and learn how we can help you integrate data across all marketing channels and combine it into a common marketing view.

Data collection and segregation

Today marketers have access to troves of data sets generated by disparate sources. Marketers can convert these data into meaningful insights using marketing analytics. But to do so successfully, they must ensure that they have analyzed and collated data elements generated from all the sources which were involved in a marketing campaign. Data from social media, emails, POS machines, call centers, beacons, and Wi-Fi need to be collated and safeguarded. These data sets are unstructured and in different formats. This data can later be structured to get a clear understanding of how customers are shopping today.

Using integrated artificial intelligence and powerful statistical techniques, our analytics solutions can help you identify the right  marketing mix, to optimize your marketing spend. . Gain limited-time complimentary access to our analytics platform today.

Choose the right data visualization tools

The data generated must prove useful for the marketing teams and stakeholders if you are to gain meaningful insights from it. The key to getting this right is to choose the most appropriate data visualizations, which can help identify patterns and interpret the data. Thus, it is important to choose marketing analytics tools that allow you to choose or customize your visualizations instead of using default charts for displaying data.

Learn more about how marketing analytics solutions can help you create better predictions and faster learning curves than traditional rule-based methods.

Fintech Industry

Top Fintech Industry Trends That Are Helping Companies to Mint Money In 2019

Fintech industry is growing rapidly and has caught the attention of entrepreneurs, CEOs, and people at various levels of the hierarchy. Technology and digitization are the primary facilitators for making financial services more convenient. However, fintech industry trends are changing so rapidly in the industry that it often gets difficult for companies to keep up with them. Traditionally, innovations and other fintech industry trends have been restricted by regulatory uncertainties and a conservative approach on the part of the government on such modern amenities. However, the past few years have showcased a paradigm shift in these perspectives. As technological developments in financial services advance, they necessitate the need for transparency in financial systems. Also, regulatory authorities can strongly benefit from such developments. In this article, we have curated a list of the latest fintech industry trends that can help companies to reduce operating costs and improve business outcomes.

Quantzig’s advanced analytics solutions help companies in the fintech industry to transform business operations and create new business models that aid continuous process improvements. Request a free brochure of our analytics solutions right away to gain better insights!

Fintech Industry Trends 2020

Fintech Industry Trends

Payments through NFC

NFC, or Near Field Communication, is already redefining the way payments are made. Several countries are using this technology to enable contactless payments, where people can hold their bank cards up to a reader. It’s also built into most modern smartphones, and what is even more interesting is the fact that thishe technology can even be surgically implanted into a person so that they can make payments just with a wave of their hand. However, there is a long road ahead until humans can be seen walking around with implants. As NFC heads towards full maturity, it’ll be interesting to see the new ways in which we can use it, especially with more and more wearable devices entering the market.

Talk to our analytics experts to know how cognitive technologies and algorithms can help  identify future trends and drive  continuous improvements in business growth.

Multi-currency digital wallets

Most of us would have experienced the difficulty of having to exchange currencies at some point in our lives. The rise of new fintech indutry trends has eased the disruption of currency exchange systems which, until recently, have been exclusively ruled by traditional players. The past few years have witnessed a steady growth in digital wallets primarily because of the security they offer. Digital wallets store user’s payment information securely and compactly; thus, eliminating the need to carry a physical wallet.

We offer customized analytics dashboards that can help fintech companies to drive profitability by eliminating the cumbersome manual task of integrating information and modifying data. Gain limited-time complimentary access to our analytics platform today.

The evolution of cryptocurrencies

Cryptocurrency is a digital currency that makes use of blockchain technology and operates in a decentralized network format. Blockchains are distributed digital ledgers that record a group of transactions in groups connected using digital keys. Initial Coin Offerings (ICO) is one of the essential fintech industry trends that stakeholders of financial services should pay close attention to in 2020. It has proved to be a significant source of funding for leading companies and startups. ICOs are events that usually extend for one or more weeks where buyers can purchase newly issued tokens in exchange for established cryptocurrencies like Bitcoin.

Implementation of AI across the stack

Artificial intelligence is a technology that has marked its presence in most of the industries, and the financial services industry is not far behind. In 2019, we saw fintech industry trends brimming with developments on the Artificial Intelligence front, and it is expected to get bigger and better in 2020. With the evolution of AI, companies in the fintech industry will be able to make more efficient decisions and find comprehensive solutions to their business problems. 

Learn more about the trends that are going to impact the fintech industry in 2020.

visual merchandising

How Visual Merchandising Can Boost Pharmacy Sales | Quantzig’s Expert Series

visual merchandising

People today tend to associate visual merchandising with retail, making it seem like it’s solely reserved for clothing and the CPG goods segment and not the pharma retail space. However, one cannot ignore the fact that customers today are well-informed and are looking for not just the products of their choice but a personalized shopping experience. Besides, if you’ve stocked up on all the essentials in your pharmacy and no one is purchasing them, then it may be very likely that you follow a flawed visual merchandising strategy.

However, there is a common problem that haunts businesses from various retail segments, and it revolves around restricted growth owing to obsolete systems that don’t facilitate visibility, promote efficiency, or enable change. The other challenges faced by retailers across segments include – lack of cross-channel visibility, inability to identify new opportunities, and growing customer needs.

We can help you extract the right data and make crucial decisions through the use of industry-specific models that offer explicit guidance on the impact of data-driven decision making in retail. Request a FREE brochure of our analytics solutions for comprehensive insights.

How do you get the insights to succeed and grow in a customer-driven pharma retail landscape?

From inventory to customer service management, pharmacies today need to gain a deeper understanding of what motivates customers to purchase products at each stage of their buying journey, regardless of the channel or touchpoint. Quantzig’s visual merchandising analytics solutions provide a single source for consolidated transaction information across your organization. It also enables better business visibility, coordinated cross-functional processes, and efficient exception management by providing retailers with the insight to understand factors driving the performance of pharma merchandising.

Our unique combination of people, process and technology is what sets us apart in the analytics market. Talk to an analytics experts and learn how we can help you.

Why Pharmacies Need Visual Merchandising?

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Big Data

Big Data Challenges in the Media and Entertainment Industry

The media and entertainment industry is growing at an unprecedented rate, with companies finding it difficult to keep up with the pace. The challenges arise due to pressures to keep the costs down while trying to improve revenues. Further complications arise as the media consumption habits of customers are highly fragmented. The trend of one big company dominating the market is gradually fading away, providing an opportunity for small players to complete successfully. One of the most significant trend observed in the media industry is the shift in media platforms from traditional channels to online mediums. As a result, it paves the way for the media industry to implement big data and data analytics technology to gain more profound audience insights. With a new source of data available to the media companies each day, companies can efficiently understand customer needs and deliver content that pleases the audience. However, with the rapid adoption of digital technologies, the media industry does face a few big data challenges which slows down their progression. To fully realize the potential of digital Free demotechnologies, the companies should successfully tackle these big data challenges.

Big data challenges in the media industry

Data privacy concernsData Privacy

Numerous leaks of personal information and media have been making the headlines recently. Consequently, consumers are being more sensitive towards their data and are concerned on how their personal data is being used. Additionally, policymakers have also addressed their issues and have implemented regulations for businesses that handle personal data. Such big data challenges can pose problems when it comes to accumulating sufficient user data, without which accurate analysis cannot be performed. Regulations have also been in place for companies that broker personal data to media houses.

Lack of financial muscle

One of the most significant big data challenges in the media industry is the lack of financial muscle for media start-ups and SMEs. While accounting for cost factors to implement data analytics, companies need to look at various factors including data storage costs, infrastructure costs, data processing costs, and human resource costs. Although it is relatively easy to start a new company producing content, games, or apps, it can be tough to scale up without significant investments. Thankfully, the advent of cloud storage and SaaS solutions have provided a way out for start-ups and SMEs.

Difficulty in talent acquisition

Talent Acquisition

There is a significant imbalance in the supply and demand of data scientists all across the world. The imbalance is mostly in terms of shortage of supply of analytics professionals. Furthermore, the demand for data scientists has been increasing exponentially, and there aren’t many professionals to fill the void. As a result, companies have to pay out hefty salaries to such professionals usually upwards of $100,000. The problem of talent acquisition is one of the key big data challenges in the media industry, which cries out for professionals in data journalism and product management.

Low penetration rates of high-speed broadband

A large part of the content delivered to the audience today is via online mediums. To facilitate this, high-speed broadband is a must. However, the penetration rates of high-speed broadband services haven’t been that impressive across the world as it is limited mostly to metro cities. Firstly, it reduces the potential customer base and then gathers data from only urban segment consumers. Analysts cannot gain insights into customers who lack access to high-speed broadband and thus resort to traditional mediums.

Piracy, copyrights, and account sharingAccount sharing

Piracy and copyright issues have been there in the media and entertainment industry for a long time. However, the advent of digital medium has created new big data challenges, the problem of account sharing. For the majority of video streaming sites, a large number of people gain access by sharing account information and passwords. Analysts will have a tough time performing analysis on customer preferences as they cannot pinpoint the demographic details of the user. Both the child and the adult may be using the same account, so an effective judgment is impossible on whether the child or the adult prefers a specific genre.

To know more about big data challenges in the media industry, data analytics, predictive analytics, and media and entertainment industry:

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retail analytics

Q&A: Why Canadian Retailers Can’t Afford to Ignore Retail Analytics

Today advanced technologies such as – AI, big data, and machine learning have moved from the peripheries to the center, fundamentally remodeling the retail landscape in Canada. This has not only expanded the toolset available for retailers to respond but has given rise to a new category of analysis in the form of ‘retail analytics’ which employs sophisticated techniques and tools to gather, prepare, and analyze data to uncover deeper insights, craft predictions, and generate personalized recommendations.

Retail analytics offers unprecedented potential to understand customer preferences and behaviors to create an integrated and responsive ecosystem through partnerships and mergers and acquisitions (M&A)—to help retailers position themselves for success in a rapidly evolving environment. However, while envisioning the possibilities for new approaches and technologies, Canadian retailers need to be clear about both the potential of these new tools and the risks that can arise when implementing a new retail analytics based approach. 

To reap the promise of advanced retail analytics, businesses need to build the functional capabilities that will allow them to operate as an insight-driven organization. Request a FREE brochure of our retail analytics solutions to learn how we can help you.

Amid the omnichannel buzz that has prompted retailers to deploy advanced analytics tools and techniques across platforms, brick and mortar stores remain a focal point in retail strategies, given the large volumes of transactions that take place in-store. The need for retailers now is to create an open line of communication with consumers without becoming overbearing.

We caught up with Sudarshan, Solutioning and Strategy Architect at Quantzig, for his views on the power of retail analytics and its impact on the future of the retail industry in Canada.

Can beacons bring new opportunities with big data for brick-and-mortar retailers in Canada?

With retail analytics bringing in massive transformations, there is a great potential for businesses to use beacon technology to offer integrated, holistic, customer experiences both online and in-store. Also, the growing popularity of beacon technology can be attributed to its ability to reinvigorate the traditional brick-and-mortar retailing system and offer personalized services that can’t be availed online. Such technologies in combination with advanced retail analytics solutions can help unlock the true potential of data, paving the way for a data-driven culture.

Talk to our analytics experts to gain comprehensive insights on the benefits of retail analytics.

What according to you is holding them back from leveraging retail analytics?

With online channels and ecommerce platforms playing a huge role in driving sales, its crucial to analyze new ways to drive instore sales. Leading players might be way up the ladder, but few retailers are still learning to tackle the data deluge. What’s crucial to note is that retail analytics can help drive measurable growth as it affects several key aspects of retail. Businesses must assess and gauge the impact of such solutions by partnering with leading analytics solutions providers who can help them develop the best-fitting strategy.

Gain limited-time complimentary access to our retail analytics platform and figure out how analytics can help you gain a competitive edge in today’s complex retail scenario.

Key Areas Where Retail Analytics Can be Applied

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entertainment industry

Major Challenges Facing the European Entertainment Industry

The European entertainment industry is growing at an unprecedented rate, and several companies are finding it difficult to keep up with the pace. Challenges arise due to the growing pressures to keep the costs down while trying to improve revenues and the highly fragmented media consumption habits of customers. The trend of one big company dominating the market is gradually fading away, providing an opportunity for small players to complete successfully. One of the most significant trends observed in the media and entertainment industry is the shift in media platforms from traditional channels to online mediums. As a result, it paves the way for the European entertainment industry to implement big data analytics technology to gain more profound audience insights.

With new sources of data available to the media and entertainment companies every day, they can efficiently understand customer needs and deliver the right content to address the needs of the audience. However, with the rapid adoption of digital technologies, the entertainment industry is poised to face critical challenges that may slow down their progression. In this article, we have listed major challenges facing the European entertainment industry, a knowledge of which can help media and entertainment companies to adopt a smart approach and stay ahead of the curve.

Quantzig’s big data analytics solutions help companies in the media and entertainment industry to develop the best promotional and product marketing strategies to attract and retain customers. Request a free brochure of our analytics solutions right away to gain better insights!

Challenges Facing the European Entertainment Industry

Challenges in the European Entertainment Industry

Data privacy concerns

Today consumers are being more sensitive towards their data and are concerned about how their data is being used. Additionally, policymakers have also addressed their issues and have implemented regulations for businesses that handle personal data. Such challenges can pose problems when it comes to accumulating sufficient user data, without which accurate analysis cannot be performed.

Our big data analytics experts can help you analyze digital media consumption patterns and behavioral data that can help you provide personalized experience to your consumers. Talk to our analytics experts now. 

Lack of financial muscle

One of the most significant challenges in the European entertainment industry is the lack of financial muscle for media start-ups and SMEs. While accounting for cost factors to implement data analytics, companies in the European entertainment market need to look at various factors including data storage costs, infrastructure costs, data processing costs, and human resource costs. Although it is easy to start a new company producing content, games, or apps, it can be tough to scale up without significant investments. Thankfully, the advent of cloud storage and SaaS solutions have provided a way out for start-ups and SMEs.

We offer customized analytics dashboards that can help media and entertainment companies to increase digital conversion rates by offering micro-segmentation of customers to their advertising networks and exchanges. Gain limited-time complimentary access to our analytics platform today.

Piracy, copyrights, and account sharing

Piracy and copyright issues have been a major area of concern in the media and entertainment industry for a long time. However, the advent of the digital medium has created a new challenge of account sharing. For the majority of video streaming sites, a large number of people gain access by sharing account information and passwords. Analysts will have a tough time performing analysis on customer preferences as they cannot pinpoint the demographic details of the user. Both the child and the adult may be using the same account, so an effective judgment is impossible on whether the child or the adult prefers a specific genre.

Learn more about the challenges and opportunities in the European entertainment industry

marketing analytics

Marketing Analytics Solutions for the Retail Industry | Factsheet

marketing analytics

As product commoditization and standardization of services continue to fuel the radical shift towards a data-driven culture in retail— ‘marketing spend’ is poised to continue its unprecedented rise. Moreover, with leading retail organizations struggling to find the best-fit strategy to maximize benefits from their marketing investments its quite evident that a major retail challenge revolves around optimizing marketing spend.

In such a scenario, insights into marketing spend can not only help you drive bottom-line savings but can give you more control over your marketing strategies. Quantzig’s marketing analytics solutions for retail comprise of a comprehensive suite of advanced analytics solutions curated by considering the challenges faced by retailers today. Our marketing analytics solutions can help you uncover bottlenecks and new opportunities as well as streamline operations for greater efficiency and control.

Request a FREE Brochure of our analytics solutions to gain comprehensive insights into our marketing analytics capabilities.

WHAT IS IT?

Today there is a growing need for retailers to measure and optimize the impact of their marketing investments to improve the return on their marketing spend (MROI). Using advanced statistical models and machine learning techniques, Quanztig’s marketing analytics solutions aim to help retailers achieve their business objectives by offering actionable insights into past marketing activities and predicting the future effect of marketing tactics on sales. The intention is to drive business value by offering unprecedented visibility into marketing activities and factors that help drive sales.

How Can Quantzig’s Marketing Analytics Help Retailers? (more…)

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