What does data do for your brand?

Rajiv Prasad, CIO at Sàvant Data System, discusses the importance of data in forming one’s brand.

Tags: Data analyticsRetailSavant Data Systems (www.sdsdxb.com)
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What does data do for your brand? Rajiv Prasad, CIO, Sàvant Data System.
By  Rajiv Prasad Published  May 8, 2017

In 2017, due to the shift in digital disruption, consumers have embraced the world where they use digital channels to connect and communicate with brands. Consumers are developing their capacities for deeper digital connections amongst each other in the social media platforms, with companies and with the brands.

As mobile connectivity and social media continuous to evolve, consumers now have instant access to a wide range of e-retail websites for comparison shopping and a multitude of peer reviews. This has resulted in the heightened demand for a seamless shopping experience for products and services, which is to be customised to their personal requirements. Shying away from the traditional push promotional offers, for e-retailers to confirm their position in the market, they are required to provide consumers with unique offers which compel them to act now. At the core of every successful e-retail strategy is the primary concept of creating an addictive, unforgettable personalised shopping experience for online shoppers. This will initially be done by e-retailing leaders who will manage and analyse massive volumes of data in near real time through posts, clickstreams, as well as the purchase history.

Increase the competitive advantage through shopper insights

By pulling together data from disparate systems, retailers will be able to create a holistic view of the customer. This would entail the organisation to prioritise their processes in achieving that goal. Retailers would have to first hand understand which customer segments are required for personalisation, then leading to allocating which key customer interaction require a personal touch, and how much. This will initially narrow down the options for technology solutions and strategies to execute the process to achieve their goals.

The Big Data analytics platform is the key to enabling a personalised customer interface to produce growth and loyalty. Such platforms would consist of having advanced context-aware predictive analytics and data management, allowing businesses to establish touchpoints and intelligence about consumers, channels, supply chains, and operations. Retailers are also turning to web analytics more than before to discover trends and customer behaviours on their website and e-retail portals. With the high amount of traffic which most retailers are facing, retailers are integrating on-time decision engines, fraud detection, feedback management, customer profitability management, campaign segmentation and tracking, and price and promotion optimisation which enables the consumer-centric merchandising. With the data management, retailers can get a 360-degree view of consumers across all channels, understand trending topics and the targeted audiences.

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