Title: Customer centricity with predictive analytics in Indian retailing

Authors: Sandeep Puri; Vineet Sehgal; Vivek Sharma

Addresses: Institute of Management Technology, Raj Nagar, Ghaziabad, India ' HSBC, Salarpura Softzone, Bellandur, Bangalore, India ' Olam Vietnam International, AB Tower, 76 Le Lai St. Ben Thanh Ward, Ho Chi Minh City, Vietnam

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.

Keywords: customer centricity; predictive analytics; India; retailing; customer relationship management; CRM; retail industry.

DOI: 10.1504/IJIIM.2013.057738

International Journal of Intercultural Information Management, 2013 Vol.3 No.3, pp.207 - 218

Received: 23 Oct 2012
Accepted: 07 May 2013
Published online: 29 Jul 2014 *

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