We are in a golden age of big data and analytics in which technology enables retailers to be more lean, efficient and competitive than ever. But retailers and consumer goods companies find themselves with technology and capabilities available to them that have far outpaced the workforce necessary to derive maximum value from them.
A new deal between IBM and The Weather Company promises to give retailers and suppliers access to a new range of insights to drive all manner of demand forecasting, merchandising and replenishment decision-making.
Vera Bradley will be deploying consumer behavior insights and location-based analytics provider ShopperTrak's Perimeter Analytics tool at each of its new U.S. stores this year, with plans to roll out the service across all corporate stores in the coming year.
Improving shopper insights in omnichannel retailing is the top ranked priority for retailers who fear other operators may be doing a better job than they are. That is one of the key findings in a new research report from industry leader EKN that shows retailers still have a long way to go when it comes to leveraging the power of analytics.