It’s an exciting time for retailers as technology is driving a major disruption in the market. Whether you are just beginning to build a retail data analytics program or you have been gaining advanced insights from your data for quite some time, join Eric and Shish as we explore the trends, drivers and hurdles in retail data analytics
2. Modern retail is data driven
Location sales Remote sales
Try on and try out products
Face-to-face info
In-store behavior
Social connection/user reviews
Product/price comparison
Online history
Digital transformation
enables the best of online & offline
3. Top 5 Takeaways for Retail Data Analytics
Personalization
Artificial Intelligence
Blockchain in Retail
Autonomous Retail Stores/Frictionless Shopping
Iot
4. TRAVEL BLOGGER
LAST VISIT: DEC 21
HIGH SCHOOLER
LAST VISIT: APR 16
HIGH SCHOOLER
LAST VISIT: APR 23 WELCOME
Still looking for
a prom dress?
Talk to an
associate to see
the items from
your wish list!BROWSE
Retail Personalization0
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Weather
Auto-generated Offers
Local
Events
Time of
Day
Recognition
Software
Customer
Profile
POS
Data
Digital
Footprint Audience Wearables
Wish list
Hiking boots sale
Grab and go
More Frequent visits
Increased Sales
Higher Foot TrafficLocation
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WORKING MOM
LAST VISIT: MAR 3
Contoso
Eyewear
Connect with customers at the
right time, right place with the
right offers
• Generate relevant and targeted
offers using integrated data
sources
• Deliver timely offers based on
customer location and time of
day
Predict what customers want
before they tell you
• Anticipate customer purchases
based on profiles, needs and
significant events
• Create natural cross-sell and
upsell opportunities using
predictive analytics solutions
Ensure transaction continuity
• Strengthen next best action engine
by using outcomes of every
customer decision
• Improve offer uptake with better
propensity algorithms
• Prevent duplicate offers across
channels
Boost customer loyalty
and profitability
• Keep customers engaged and
delighted with personalized,
event-based offers
• Deliver engaging in-store
experiences using digital assets to
support interactions with
informed sales associates
Streamline operations
• Become an data-driven
organization
• Evolve from reactive to proactive
to help build, monitor, and
improve your brand
• Keep pace with rapid change and
innovate with cloud infrastructure
Your order is ready!
Pay in-app
to grab and go.
1
5. Engaging customers for repeat visits
7-Eleven
Objectives
7-Eleven wanted to connect
various sources of customer
data to provide a single
customer view, and use mobile
& live data to track the
purchase cycle and engage
customers in real-time
Tactics
The Plexure solution uses
a mobile app, IoT
orchestration, and
beacons to tailor
customer promotions to
personal preferences and
purchasing history
Results
• Linked fuel purchases to
convenience purchases,
positioning 7-Eleven as the
convenience store of choice
• Encouraged customers to return
to 7-Eleven locations, taking up
more offers more often
Built on Microsoft Cloud Technology
8. Mars Drinks optimizes operations, boosts
customer satisfaction using IoT & Analytics
Challenge
• Avert downtime and
out-of-stock products
• Improve operational
efficiency of partners in
the field
• Deliver better customer
service
Solution
• MARS DRINKS
identifies the optimum
time to stock and
service its vending
machines by using
Internet of Things (IoT)
technology
Benefits
• Improves timely product
stocking and operational
efficiency
• Increases customer satisfaction
• Drives business insights from
consumer behavior data
“Putting machines online, considering how a space is used, and looking
at people’s beverage consumption will unlock a wealth of information
that we haven’t been able to easily access before.”
— Jamie Head, Chief Information Officer, MARS DRINKS
9. Blockchain decentralizes data in a trustless environment
Traditional System
Centralized system
with stored ledger
Blockchain System
Distributed system
with distributed ledger
• Traditional ledgers are centralized and use 3rd parties and middlemen to approve and record transactions
• Blockchain safely distributes ledgers across the entire network and does not require any middleman
• The technology maintains multiple replicas like p2p torrent file sharing
10. Webjet Uses Blockchain in First-Of-A-Kind
Travel Bookings Solution
Challenge
• Webjet handles thousands of hotel
bookings every day that pass through
multiple operators. The high volume
of transactions and number of parties
involved in each transaction can lead
to discrepancies.
• Booking errors negatively affect customers’
experiences and undermine trust between
Webjet and its partners, and can also have
serious financial consequences.
Strategy
• Webjet and Microsoft
developed a first-of-a-kind
blockchain solution.
• The solution creates secure,
independent transaction
records that all parties can
see. Known as ‘Smart
Contracts, they streamlining
the booking and payment
process, and reducing errors.
Results
• The use of blockchain removes the risk of data
inaccuracy, boosts security and efficiency, and
enhances trust and accountability between
Webjet and its partners.
• The solution gives Webjet a competitive edge
and could set a new industry standard.
• Webjet has an exciting opportunity to grow
by facilitating transactions across the travel
industry and selling its solution into other
sectors.
“Microsoft’s ongoing investments in building the industry’s most trusted cloud platform around the principles of security,
privacy and control, compliance and transparency, along with its deep heritage in guiding businesses, including Webjet,
through periods of significant IT transformation made the decision to go on this journey with Microsoft a no-brainer.”
— John Guscic, Managing Director, Webjet
11.
12. Top Five Strategies for
Retail Data Analytics
My findings of NRF 2017
Eric Thorsen (@ericthorsen)
GM Retail and Consumer Products
Hortonworks