As the coronavirus pandemic spread across the globe, it has substantially impacted consumer behavior, product demand, and logistical services availability. So, store owners are turning to retail analytics to analyze risks and devise appropriate re-opening strategies. Several significant retail analytics firms are working on the creation of unique solutions to attract a broader customer base and increase their market position. The rapidly increasing eCommerce sector has significantly pushed merchants to use advanced analytical solutions to improve supply chain efficiency and reduce bottlenecks. Large retailers can use supply chain analytics solutions to improve inventory planning and forecasting, optimizing supply chain operations.
Apart from that, with the booming eCommerce and retail industries, cloud-based retail analytics solutions are becoming increasingly popular. They provide merchants with on-demand computing capability to manage enormous volumes of data and produce actionable insights promptly. Additionally, the rise of big data and predictive analytical models has enabled merchants to forecast future events by integrating data from applications, social media platforms, sensors, and other sources. Advanced analytics solutions are being adopted by the retail industry’s major organizations, which is positively boosting the market growth.
A high predisposition for enterprises is strengthening the market environment for emerging technologies such as artificial intelligence and machine learning in the retail sector for effective supply chain and inventory management solutions and giving a better consumer experience. The retail data analytics solution market is predicted to increase dramatically over time as these technologies progress.
At this moment, there are a variety of retail analytics solution providers entering the market to cater to the different needs of enterprises. To help them choose the solution that best fits their requirement, Retail Tech Insights has compiled a list of the most promising retail analytics solution providers. Besides, the magazine also comprises insights from thought leaders in the sector on the industry trends, best practices, recent innovations, and their advice for aspiring CIOs.
We present to you Retail Tech Analytics’, “Top 10 Retail Analytics Solution Providers - 2021.”