Use Case

A large retail chain wanted to grow their revenues by 30% last year and their leadership team partnered with us for data analytics work.

Retail Industry Data Analytics Companies Retail Analytics use case

Predicting the next hot children’s clothes

In the previous season, certain types of clothes were flying off the shelves but some stores were quickly out of stock. This year the COO wanted to make sure such lost sales wouldn’t happen.

Retail Industry Data Analytics Companies Retail Analytics child clothes

Work started months ahead

We gathered past data such as transactions history, customer demographics, store locations, fashion trends, movie releases, social buzz to correlate factors that contributed towards some fashions to do extremely well compared to others. Prediction algorithms were developed to prepare for the new season.

Retail Industry Data Analytics Companies Retail Analytics challanges

Challenges

Gathering data that is relevant. Combining structured and unstructured data. Combining data from social media, fashion trend research data, competitive market data, market research, forums, blogs, twitter, pinterest, customer loyalty data to make sense of what the present hot trends are, real-time analytics.

Retail Industry Data Analytics Companies Retail Analytics outcome

Outcome

Better anticipation of inventory by store

  • Dynamic pricing of certain products
  • Reaching out to customers through their channel of preference (email, text, social channels) and making them relevant offers/coupons at the right time.
  • Bundling products together in a better way
  • Help company grow their revenue and understand their customer better