The retail experience has changed dramatically in recent years as there has been a power shift over to consumers. Shoppers can easily find and compare products from an array of devices, even while walking through a store. They can share their opinions about retailers and products through social media and influence other prospective customers.
To compete in this new multi-channel environment, we’ve seen in this guide how retailers have to adopt new and innovative strategies to attract and retain customers. Big data technologies, specifically Hadoop, enable retailers to connect with customers through multiple channels at an entirely new level by harnessing the vast volumes of new data available today. Hadoop helps retailers store, transform, integrate and analyze a wide variety of online and offline customer data—POS transactions, e-commerce transactions, clickstream data, email, social media, sensor data and call center records—all in one central repository.
Retailers can analyze this data to generate insights about individual consumer preferences and behaviors, and offer personalized recommendations in near real-time. Key to this is the ability to optimize merchandise selections and pricing that are tailored to a consumer’s likes and dislikes.
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