Press release
Retail Analytics Market Share to witness steady rise in coming decade | IBM Corporation, HCL Technologies Limited, Oracle Corporation
Retail Analytics Market
Read more about Retail Analytics Market here: https://www.globalinsightservices.com/reports/retail-analytics-market/
Retail analytics is the process of analyzing data to better understand retail trends and optimize the shopper experience. By understanding how customers shop, what they buy, and when they buy it, retailers can make better decisions about inventory, pricing, promotions, and more.
Key Trends:
There are four key trends in retail analytics technology:
1. The shift from on-premise to cloud-based solutions: Retailers are increasingly moving away from on-premise analytics solutions to cloud-based ones. This is because cloud-based solutions are more flexible and scalable, and they allow retailers to access data and insights from anywhere.
2. The rise of artificial intelligence (AI): AI is becoming increasingly important in retail analytics, as it can help retailers to make better decisions about pricing, promotions, and product assortment. AI can also be used to personalize the shopping experience for individual customers.
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Key Drivers:
There are several key drivers of the retail analytics market. The first is the ever-increasing volume of data being generated by retailers. This data can come from a variety of sources, including point-of-sale systems, customer loyalty programs, and online transactions. This data can be used to track customer behavior, understand trends, and make predictions about future behavior.
Market Segments:
The Retail Analytics Market is segmented into component, deployment model, application, and region. Based on component, it is bifurcated into software and service. Based on deployment model, it is categorized into on-premise and cloud. On the basis of application, it is divided into supply chain management, merchandizing intelligence, customer analysis, data management, and others. Region-wise, the market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World.
Key Players:
The Retail Analytics Market report includes players such as IBM Corporation, HCL Technologies Limited, Oracle Corporation, SAS Institute Inc., Wipro Limited, SAP SE, Adobe Systems Incorporated, Fractal Analytics Inc., Manthan, and Tableau Software.
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