In retail, the art of the deal is far more complex than offering the lowest price. Retailers need deep knowledge of their customer’s behavior, products, value propositions, cost structure, platforms, and sales channels to boost success and cultivate customer loyalty. Developing and maintaining a winning position requires mastery of modern technologies married with pragmatic business strategy. 3Cloud’s proficiency in both gives our clients the competitive edge.
Thanks to the digital era, retail has undergone a wave of innovations. While we see sensational articles in the news proclaiming the death of retail, all you have to do is look around and you’ll see that consumption is in full swing. Retail isn’t going anywhere, it’s just rapidly shifting shapes.
Record numbers of consumers now conduct in-depth, online product research across multiple devices prior to making a purchase. Accessing and understanding the vast amounts of numbers and data points the customer research and purchase process generates, and using it to inform operations, is now critical to retail success.
Relying on data produced at various stages of the retail journey is nothing new; good retailers have kept track of cost of goods sold for centuries. But even the greatest bookkeepers have been forced to focus on measures in their rearview. Looking at historical data aggregations for sales trends, decision-making was often left to the lucky few with a “God-given” gut feel.
Modern technology, through the proliferation of sensors, mobile devices, and cloud scale data storage and processing power, is producing an explosion of data. The ability to stream, aggregate, store, analyze, and ultimately automate prescriptive actions or remediation has turned retail into predictable game.
Key advances in cloud platforms, like Microsoft Azure, enables retailers of every size to store massive amounts of data, measure every single data point, and to focus on the single most important areas.
While retail has seemingly become a science, there’s still an art to mastering the techniques required to win in today’s digital era. At 3Cloud, we’re focused on helping our retail clients modernize their practices and technology through the use of cloud scale analytics on Microsoft Azure. Our data-driven platform designs and retail Insights-as-a-Service capabilities give users at every skill level the ability to maximize insight from their data.
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If you’re struggling to wrangle fast-moving data, mine your data in real-time, find trends, and feed it all back, whether to decision-makers, apps, or customers, 3Cloud can help.
Our trusted experts envision, design, and implement modern retail analytics platforms that help our clients do more than dominate their category; we can optimize your customers’ path to purchase, help you achieve personalized marketing offers, increase your operational effectiveness, and build true loyalty to your brand. Contact us today to learn more, or check out some of our retail solutions here.
