Cheap data storage and high-performance analytics are going to change the face of retail sector. And big data is going to play pivotal role in this technological revolution. You can find other reports related to Big data at http://www.marketresearchreports.com/big-data
2. The Big Data Shift!
Major retail brands are shifting their
focus on big data as a means of
generating more revenue.
3. Few Facts About Big Data.
Post Big Data Implementation in Retail
Productivity Increased By Sales Increased
49% $ 9.6 Billion
50 % say that big data helps in meeting
consumer demand and facilitating growth.
Industry Mandate
72.7 % consider driving operational efficiencies
to be the biggest benefit of Big Data strategy
4. How Business Scenario is Changing?
100 years ago merchants knew their customers by face &
retail success was tied to availability and proximity of stores.
But now with expanding geography and multiple store
locations it is very challenging to keep track on customers at
individual level.
5. The Key to Success.
For a majority of
categories, consumers still prefer
to buy from physical stores for
both researching and purchasing
products. Since most retailers
nowadays employ multi-channel
strategy, physical stores is
becoming an prominent part of
the overall shopping experience
for their customers. The key lies in
creating a unique shopping
experience where customers
derive both value and pleasure
from visiting the physical stores.
6. Then, How Does One Create Personal
Shopping Experience?
Here comes Big Data into the picture. If you are a retailer and
you have never heard about Big Data before, few questions
must keep popping up in your mind. Like…
1) What is Big Data ?
2) Why do I need Big Data ?
3) How does Big Data work ?
4) What is the cost of Big Data
implementation ?
5) How Do I measure my ROI. ?
6) And few more…
7. Let’s Take up Case & Demystify Big Data?
John Brother’s runs a book store in a major
metropolitan city, along with the reputed
Chapel’s and Simon’s.
Simon’s John’s Chapel’s
8. The Answer Lies in the Problem.
During Holidays John brother's sale grows but
not as great as Simon’s and Chapel’s. Though
John spends heavily on marketing but still they
were far away from their goal “To become
most popular Book store in the city”
Simon’s John’s Chapel’s
9. The First Movers.
Simon’s John’s Chapel’s
John Brother’s heard the success story of Arizona based book
store and came to know about Big data. After a long meeting
with their stakeholders they agreed to invest in Big data
infrastructure.
10. The Infrastructure Setup.
John’s
John Brother’s asked for quotation from well
known Big Data Vendors and after doing a
cost/price feasibility study they chose one of
them.
The vendor came and setup the necessary
infrastructure for big data implementation.
Now lets do a deep dive into Big Data
technology and how it works?
11. From Where Does Data Collection Happen?
Digital
Signage
Customer
Mobile
Wi-Fi
Internet of
Things
Gesture
Recognition
Integrated Video
Surveillance
Associate Tablet
Loyalty Card Issued
by Book/Retail
Store
Social Networks
12. What Data It Collects ?
What book they like on Facebook ?
What book they tweet ?
What blog they read ?
• Name
• Age
• Date of Birth
• Transaction history
• Store visit frequency
• Point of sale data
• 3rd party demographic & psychographic data
• Geo-location data
• Product inventory and placement data
• Advertising impression data across media;
online, TV, radio, print, email
This is Big
data
13. Where Does This Data Go?
Big Data
Repository
Actionable Data
Business Analytics
Software
Data
Processing
From
Raw Data to
Actionable
Data
14. The Actionable Data
Actionable Data
With timely analysis John Brothers were able to find important data
which helped them strategize their future marketing plan.
15. How Does Big Data Work ?
Identifies the
Prospect via
Smartphone etc.
Big Data
Repository
Looks for
Prospect Location
& Profile
Information
ExpertSystem
Feeds the profile of prospect into real-time expert system
16. Big Data Paid Off
Now with Big Data technology John Brothers interact with their
customer at real time.
35% off on
Pre-holiday
season
Gift
Coupon on
Birthday
New Book
Arrived of
Author “X”
25% off on
bundle book
purchase
17. Measure Return on Investment
•Has the store traffic increased after big data implementation ?
•Has the revenue increased against per visit and per transaction?
•Has there been any significant reduction in non-buyer population?
18. The Final Message
Now John Brothers have achieved what they
craved for “To become the No1. book store in
the town and they have become No.1 now.
What John Brothers understood &
implemented, Simon and Chapel failed to
realize that. They are still wondering how this
change took place.
“Implementing big data is a business decision not IT decision .”