Blogs
Business intelligence plays a crucial role in the retail industry, enabling retailers and eCommerce businesses to gain real-time insights into their sales, inventory and customer data. With a number of tools to gather and analyze data from various sources, it…
With the manufacturing sector’s focus on agility and efficiency, the emergence of industry 4.0 is heavily focused on making decisions in real-time events. Real-time analytics in manufacturing is taking manufacturing analytics to reach new heights. From collecting sensory information of…
The World Economic Forum has said that by 2025, individuals and companies throughout the world will produce an estimated 463 exabytes of data each day. On the other hand, nations around the world started implementing data privacy norms and demanded…
Amazon is known for its highly efficient inventory management practices. But, do you know what makes its inventory management practices successful? Forecasting. Yes, Amazon uses advanced forecasting algorithms and predictive analytics solutions to accurately forecast demand and optimize stock levels.…
Consumers today are prioritizing sustainable products, to show their commitment towards the environment. Because of this, retail businesses today are implementing different strategies to meet consumer demands for sustainable products. However, due to lack of ability to drive insights from…
In part 1 of this blog series, we covered an in-depth understanding of what predictive analytics is, and how it is different from forecasting. We also explained with some real-world examples, how big brands like Amazon are transforming their business…
What will be the future demand for my products or services? Which customers are most likely to churn? What are the potential risks? What are the factors influencing customer satisfaction? These are just a few examples of the questions that…
One of the leading private banks in India was facing challenges related to credit risk management and fraud detection. It was leading to unsatisfied customers and higher customer churn – ultimately affecting the business revenue. To address these challenges, the…
The retail industry has faced significant challenges recently, experiencing a greater impact on all fronts. In response to evolving customer demands, product offerings have adapted accordingly. Even before the pandemic, changes in consumer behaviour were already reshaping the retail business’…
Every business asserts that the quality of their product or service is what sets them apart. However, this statement may have held in the past, but it no longer solely determines why customers opt to engage with a retail business.…
