Infographic: Big data and retailers
Savvy retailers are harnessing the power of big data by combining data from a number of sources such as web browsing patterns, social media and industry forecasts. They are using big data to predict trends, prepare for demand, optimize pricing, and ultimately to improve each customer’s experience to increase acquisition and retention rates. Supermarkets are combining their loyalty card data with social media information to detect and leverage changing buying patterns. While customers are getting timely offers and deals that match their needs. A 2012 Gartner report predicts that data will grow 800 percent over the next five years and 80 percent of the data will be unstructured.
The following infographic by Colourfast Printing represents the information beautifully.
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