Tag Archives: Consumer data

The IOT is here – what should retailers do next?

Retailers and consumers are just getting to grips with the pretty recent move toward omni-channel retailing. As a result, the gap is closing between the online and physical world of retail, creating one convenient shopping system. Yet now suddenly the next big thing is here – the Internet of Things’ (IOT) an even more convenient way of life that is offering people the reality of a fully-fledged digital lifestyle for retailers to tap into.

There are more than 10 billion wirelessly connected

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3 steps to harnessing big data in retail

Retailers have increasing amounts of data at their fingertips, but this is nothing without: 1. a clear strategy of what to use and how to use data in order to compete with other retailers and 2. the correct deployment of a model that can extract and deliver the information required.

For retailers to fully exploit data and analytics three mutually supportive capabilities must be adhered to:

1. Choose the right data

Retailers should identify, combine, and manage multiple sources of data. In doing so

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Poll looks at personal data in retail

A poll on personal data in retail by Retail Week and ICM suggests that consumers are more likely to be in favour of the use of their data by retailers if they see a form of personal gain from it.

The intrusive method of retailing has got many consumers backs up with the majority being against personal information, derived from bank statements and mobile phone data, being used to target their custom.

However, if the retailers can offer the consumers a form of reward by way of discounts/ vouchers

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Behavioural analytics technology tells if it fraud or not

As the advances of technology within the retail space make purchasing ever easier for the consumer, they too open the door to potential fraudulent activity. With this in mind, retailers, banks and creditors will be pleased to know that there is a solution to this fear by way of machine learning analytics that can both protect and understand the shopping nature of every consumer.

Callcredit, the second largest credit reference bureau in the UK and an expert

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