Bigstep Resources

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Bigstep for Retail

Abstract:

We shift the focus from incorporating thousands of charts to filtering for you the essential retail figures around big data. You may then correctly evaluate whether your company has an actual use for big data at this moment in time.
The retail sector at this point is struggling to find growth compared to other industries. Most practices are old, and retailers do not adjust to the fast-changes of consumer needs. Use of new technologies is employed in the struggle to find growth, yet lousy implementation raises costs and does not change things for most retailers.
The online sub-sector performs better than the overall sector, but for the past years, the growth seems to have slowed down as well.

What’s Inside?

The consumer is looking for a shopping experience rather than just cheap pricing, as many competitors are on the market and consumer access to information has severely increased. This whitepaper is exploring ways of:

  1. Increase customer lifetime value & sales:
    Get data on your customers and process it into insight to get a 360-degree view of your target customer.
  2. Reduce costs:
    Reduce personnel and operational costs, and thus make the business more efficient.
  3. Adapt stocks to seasonality and trends:
    Adapt to seasonality and therefore adjust inventory replenishment so that merchandise sells fast and customers quickly find what they are looking for on your shelves or online catalogues.
  4. Improve the business decision process:
    Uninformed decisions or decisions that are taken too slow compared to the rapidity of everyday life in 2018 perpetuate throughout your organization. Decision-makers need to be rapidly and correctly informed.

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