E-commerce retailers have an advantage when it comes to customer insights. They know when customers are shopping and for what products. They know when an item is left in an online shopping cart and when an order is finally placed. Compared to traditional brick and mortar retailers, who have to deal with the unique challenges of foot traffic, on-site inventory and in-person customer service needs, e-commerce retailers will have the data available to provide personalised customer content and actionable insights to improve the shopper experience. However, with the convergence of the physical and digital shopping environment, it’s about time that analytics had a larger role in store operations.
Where to Start – What’s the Business Value?
Just like anything else in retail, navigating analytics requirements needs to be driven by adding business value. All technology decisions should be funnelled through a lens of strategic capabilities