Big Data in Industry Many believe that Big Data is a new asset which will help companies catapult others to become the best in class. What is it about Big Data that is so appealing across industries? Simply, data is intertwined into every sector and function in the global economy and much of modern economic activity would not be able to take place without data. Big Data relates to large meres of data which can be brought together and then analyzed to inform decision making and discern patterns. The insights which Big Data brings, will become the basis of competition and growth for companies worldwide through further enhancing productivity as well as generating significant value for the global economy by increasing the quality of goods and services. Previous trends in IT investment and innovation such as cloud adoption and the impact of this on competitiveness and productivity can be mirrored by Big Data which serves as a crucial way for large companies to outperform their competition. Across industries, time-honored competitors and new entrants to the market will use data-driven strategies to compete, innovate and seize value. The knowledge that big data brings informs the creation of new services and the design of future products. In fact, some companies are using Big Data to conduct controlled experiments to inform better management decisions. http://www.extentia.com/service/big-data www.extentia.com/contact-us

1. USES OF BIG DATA IN
RETAIL

2. What is Big Data?
■ Any voluminous amount
of structured, semi-
structured and
unstructured data that
has the potential to be
mined for information
■ Large/complex data sets
that traditional data
processing applications
cannot deal with

3. What is Big Data?
■ Often refers to the use of
■ Predictive analytics
■ User behavior analytics
■ Certain other advanced data analytics methods that
extract value from data

4. Big Data Overview

5. How is Retail Leveraging Big Data?
■ Changing how retailers approach customer
personalization and assortment planning
■ Identifying product attribute drivers
■ Collecting customer sentiment and social media data
■ Uncovering influential customers through social
media
■ Analyzing loyalty programs to identify profitable
customers
■ Creating store clusters based on customer data

6. How is Retail Leveraging Big Data?
■ Recommendation Engines
■ Based on a customer’s purchase history, what is he/she
likely to purchase next?
■ Customer 360
■ Customers expect companies to
■ Anticipate their needs
■ Have the products wanted on-hand
■ Communicate in real time (via social media)
■ Adapt to their needs as they change

7. How is Retail Leveraging Big Data?
■ Path to Purchase
■ Analyzing a purchase or the path to
purchase
■ Price Optimization
■ The right price on a product can
mean the difference between
making a sale and losing a
customer
■ Fraud Detection
■ The use of predictive capabilities to
create a baseline sales forecast at
the Stock Keeping Unit (SKU) level
■ If a product deviates noticeably
outside of that range, it could
indicate some fishy business

8. Future of Retail Using Big Data
■ Big Data and IoT
■ Stores will be enabled with
sensors that detect a nearby
shopper with the app on their
phone or tablet
■ The app will deliver timely
incentives and offers to help
■ Turn over more products
■ Introduce shoppers to new
products that they were not
aware of

9. Future of Retail Using Big Data
■ Big Data and social media
■ With better data analytics,
retailers can filter out all of
the useless noise and zero in
on real data which applies to
what they need to know
■ Their customers
■ Public perception of their
brands
■ How people respond to their
products

10. Future of Retail Using Big Data
■ Big Data and pricing
■ Big Data can also be used to
establish better pricing models
like
■ Would customers pay more if the
product included X feature?
■ Would the product sell more if
the price was $1 less?

11. Future of Retail Using Big Data
■ Big Data and supply chain
■ Determine the region where a
new product is going to be the
most/least popular and the
best route to get more stock
delivered there

12. Future of Retail Using Big Data
■ Big Data and store designs
■ Big Data can help with
■ Product placement
■ Display colors and styles
■ Floor plans
■ Arrangements of cash registers
■ Staffing and scheduling
■ Some stores have improved
revenue significantly by making
minor adjustments to the
layout of their retail stores

13. More Information
■ If you have an idea or want to innovate, contact us on:
www.extentia.com/contact-us
■ Write to inquiries(at)extentia.com or
call +91 20 6728 5200 (India)/+1-408-627-4094
(United States)