Customer centricity with predictive analytics in Indian retailing
by Sandeep Puri; Vineet Sehgal; Vivek Sharma
International Journal of Intercultural Information Management (IJIIM), Vol. 3, No. 3, 2013

Abstract: Predictive analytics is concerned with the prediction of future probabilities and trends. To create and enhance sustainable competitive advantage, retailers are trying to enhance their product offerings, service levels and pricing models. To differentiate, build customer centricity and provide excellent service, retailers need to match inventory and brand experience on the web, in stores and via mobile devices. Consumer data has become a competitive tool. To use it profitably, organisations have to be reoriented to shift the paradigm from customer relationship management to customer relationship building. Predictive analytics gives retailers data they can leverage to differentiate themselves, customise a shopping experience and make the retail organisation operationally efficient, customer-focused and highly profitable. Predictive analytics helps retailers understand their business and react quickly to changing markets, stay on top of consumer demand and increase profitability. It allows organisations to leverage existing investments from multiple sources, and it delivers the full range of integrated capabilities business users need to monitor the business, make better decisions and plan for better outcomes. The paper explores the importance of predictive analytics for retailers in India.

Online publication date: Tue, 29-Jul-2014

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