In 2019, global retailers are expected to continue to grow their analytics initiatives. These initiatives are beginning to drive competitive advantages for data-driven organizations, from large global entities to smaller shop retailers. Predictive analytics and prescriptive analytics are going to bring a lot of changes in the retail scenario dramatically in 2019. It helps businesses accurately analyze the past and forecast future events by using data and conducting robust data analysis. Retail analytics software has become more sophisticated and easy-to-use.
Visualization makes data more meaningful as well as illustrative to gain the attention of the audience. Augmented Reality is another excellent example of how visuals can be handled. AR capabilities are highly beneficial for internal operations and external projects. It is a vital tool to aid meetings and other daily activities, to facilitate analysis and planning. Machine Learning and Artificial Intelligence are two trending technologies allowing to aggregate impressive amounts of information. The AI assistants will adjust to the buyers and will train themselves for the particular buyer as customers today have keen demand for personalization. The second significant point of AI and neural networks is precise demand prediction and dynamic pricing. Corporate giants are using smart algorithms not only to predict possible changes and customer behavior but to analyze a situation on the market, overall and for specific outlets.
This edition of Retail CIO Outlook features companies that are at the forefront of offering retail analytics consulting/services such as CX Insights, and Pinnacle Analytics. Retail CIO Outlook’s editorial board has assessed and shortlisted some of the most prominent organizations in the industry. We present to you – “Top 10 Retail Analytics Consulting/Services Companies in APAC – 2019”.
