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Insights Into Consumer Journey Using Big Data

Smart technology platforms and devices are making the modern consumers more involved than ever before. Brands need to understand what kind of information must provide and when to share it with consumers as it is important to analyze how a consumer uses this information when they begin their journey. The purpose is to attract more transactions and how they perceive and engage customers as the value of the customer experience drive sales and customer retention. This requires insight powered by data that can help you understand the experience of any customer across platforms.

“50 percent of companies who master the art of customer analytics are likely to have sales significantly above their competitors.” – McKinsey

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How Is the Retail Industry Transforming With Automated Pricing?


Until a few years ago, setting product costs were more intuitive than logical. Based on consumer feedback or a series of manual surveys as conducted by outsourced market research agencies, product costing had been largely overlooked because there wasn’t any better approach to it.

Advertising drove brands and had a marveling impact on the masses. However, as the retailers, big or small, try to decrease their products' time to market, the automation of product pricing has become increasingly important. That is, the ability to aptly change the prices of millions of items, to avoid waste, and to stay upfront with changing trends has retail players enticed to reach higher profit margins.