big data in retail industry

big data, big opportunities:

retail industry

It is the busiest shopping time of the year

and one video game is flying off the shelves.

In the past, storesthat reacted to this demand the fastest...

had the advantage.

But today, top retailers are using

BIG DATAto gain a competitive advantage

Predicting trendsPredicting trends

and preparing for future demand.

Predicting trends and preparing for future demand.

BestMart wants to become the sales leader for video games this season.

Their work started months ago...

First, BestMart needs to predict the hot gaming item for this season.

Big data analytics combines enterprise data with other relevant information

to create predictive models of trends.

BestMart also uses big data to predictareas where demand would be greatest.

Now they can stock up and deliver the right number of games to the right channels.

Then, big data insights can provide the base for price optimization models.

Real-time analytics help BestMart synchronize prices hourly with demand,

inventory and the competition.

Next, BestMart wants to pinpoint the customers who will likely buy this game

by segmenting customers according to expected buying behavior

contacting them as they wish to be reached

when they are in the right location

and engaging them with personalized real-time offers.

Finally, BestMart wants to know what other items customers would likely

purchase with this game.

Big data performs deeper analytics on all data

to find meaningful patterns and hidden insights.

BestMart uses this insight to create an exclusive console and game bundle.

Ultimately, retailers using big data technology

are able to provide a smarter shopping experience

to influence purchase decisions

and edge out the competition.

Learn more about big data at IBMbigdatahub.com