Company News • 06.03.2015
Report: How Big Data can help retailers
The impact of Big Data and analytics in brick-and-mortar and online retailing
The report "Big Data keeps online and brick-and-mortar retailers from hitting the wall" provides an analysis of the rapidly growing MRLA market as defined by Stratecast. It examines how retailers can harness the power of analytics solutions to address the disconnects between what shoppers want and what retailers are delivering – and how they can engage shoppers through intelligent, effective use of information.
OrderDynamics is cited for the way its Dynamic Action product helps solve the “data disconnects that haunt retailers’ online and offline operations” – the Ghost Economy – and how its prescriptive Big Data and analytics software can improve profitability. The report highlights case study examples from OrderDynamics customers Brooks Brothers, Laura Canada, and T.M. Lewin, underscoring how they are improving operations through an omni-channel view of products, customers, channels and marketing.
“OrderDynamics’ Dynamic Action is addressing many of the critical issues faced by retailers today – how to increase full price sell-through, decrease merchandise returns, improve profits and deliver a seamless customer experience across all channels,” said Jeff Cotrupe, Industry Director – Big Data & Analytics, Stratecast | Frost & Sullivan.
“Through my research, Dynamic Action emerged as a true disruptor in the retail market, and retail’s early adopters and innovators are already catching on,” he continued. “If there are still retailers who question the crucial central role of Big Data in this new retail reality, Dynamic Action provides a visible and emphatic answer. If retailers are to survive and thrive, it is imperative that they leverage this new capability to integrate marketing, merchandising, customer and operational data across channels; to understand it; and to have prescribed actions for how to act upon it in real time.”
Dynamic Action helps some of the world’s leading retailers improve their omni-channel operations. It incorporates Big Data across online and offline channels and applies artificial intelligence to transform the cross-organizational data into specific recommended actions for products, customers, channels and marketing. The prescribed actions are ranked by impact to the retailer’s business, to speed accurate decision making. Retailers can then manage workflow within Dynamic Action to see hundreds of profit-driving recommendations through to reality.
Please click here to download a complimentary copy of the new Stratecast | Frost & Sullivan report, Big Data Keeps Online and Brick-and-Mortar Retailers From Hitting the Wall.