Quantzig, a global data analytics and advisory firm, that delivers actionable analytics solutions to resolve complex business problems has announced the completion of their latest retail analytics engagement for a leading German retail company. This success story investigates the factors that led to a fundamental shift in the organizational structure, enabling the client to distinguish themselves by reimagining their workflows and business processes. It offers valuable insights into the current retail scenario and explains how a retail analytics framework can help you tackle the challenges in the retail sector.
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In retail, where businesses can go quickly from rags to riches and vice versa, the customer’s perception of your brand is crucial not only to stay in business but grow your business as well. Implementing an advanced retail analytics framework enables retailers to uncover in-depth customer insights that can be leveraged to delight customers by engaging them in profitable ways. With high-performance analytics at the core and backed by more than two decades of retail experience, Quantizg’s advanced retail analytics framework enables retailers to find new and better ways of improving outcomes. This success story is one such example where we helped a leading fashion retailer to drive growth by implementing an AI-based retail analytics framework.
The Business Challenge
Retailers face challenges in deriving value from their data at every step of the process right from data acquisition to data integration and analysis. The client- a leading German fashion retail company faced challenges that spanned three core areas including:
- Delivery of insights to the right resource at the right time
- Lack of clearly articulated analytics strategy
- Poor data management ability
“A retail analytics framework presents retailers with game-changing opportunities as well as empowers them to gain a front-liner advantage through unique insights,” says a retail analytics expert from Quantzig.
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The Solution Offered & Value Delivered
The fashion retailer collaborated with Quantzig to devise a robust retail analytics framework to gain better clarity on customers’ needs and preferences to build a more personal relationship. Our retail analytics experts adopted a comprehensive approach to developing a retail analytics framework to address the challenges faced by the client.
The retail analytics framework also empowered the client to:
- Access valuable strategic take-outs to make crucial business decisions
- Optimize core business operations to ensure profitable outcomes
- Spot flash trends and improve marketing effectiveness through micro-targeting
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Quantzig’s retail analytics framework offered predictive insights on:
- Analyzing customers’ needs and preferences
- Targeting individuals based on their requirements
Analyzing the customer base better than the competition and having the ability to orchestrate business decisions at the speed of insight is the new competitive battlefield of retail. Learn more about the factors impacting the growth of retail businesses.
Recent Success Stories:
- Improving Wallet Share with Market Segmentation Analytics –A Success Story on How A Pharma Company Improved ROI by 3X
- Big Data Analytics Framework Empowered an Oil and Gas Company to Reduce Operational Costs by 37% Through Continuous Process Improvements
- Retail Analytics Helped a Belgium Based Retail Company to Analyze Customer Behavior and Drive CX
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Quantzig is a global analytics and advisory firm with offices in the US, UK, Canada, China, and India. For more than 15 years, we have assisted our clients across the globe with end-to-end data modeling capabilities to leverage analytics for prudent decision making. Today, our firm consists of 120+ clients, including 45 Fortune 500 companies. For more information on our engagement policies and pricing plans, visit: https://www.quantzig.com/request-for-proposal