The use of data analytics should be used as natural as electricity

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Data use is like electricity, a self-image that needs to be firmly established among all stakeholders. Data helps to make better decisions and manage the entire value chain smarter. The aim is making data from online more usable on the ground.

Case

WALMART

 

The retail chain Walmart is rolls out test stores to collect data and find solutions for both physical stores and online shops.


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Digitalization and AI can support in various areas: assortment and inventory management, greater personalization across all marketing channels as well as in delivering better and more relevant marketing campaigns for customers with marketing analytics. So there are numerous possible applications!

Jan Starken

bonprix

Data analytics should be what you eat at breakfast.

Aslı de Munnink

Borusan Otomotiv

As a retailer, I need to be aware of what my brand promise is, how I can best fulfill it and how I retain the customer through it. Part of that is the result of making greater use of data analytics. The need of customers to store conveniently, i.e., how / where / when they want, without having to make a big distinction between different channels, will remain beyond the pandemic.

In view of the constantly growing assortments, especially in the food industry, the only way today is data management. You can only make decisions and understand the success/failure of a product with data. Only with data can we also reduce food waste. And the topic of customer cards or loyalty programs is another crucial driver for more intensive data use.

The topic of data analytics is an enormously important point for companies that want to and will prove themselves on the market in the long term in order to remain competitive. We have important customers or members who work with a customer app, for example, which is also integrated into the CRM. This is an ideal way to see which purchases have been made by the customer in the past. That gives clarity about which clothing items and which size are relevant. And this has of course been particularly beneficial for the retailers who had this data available when the lock down came. The retailers were then also able to put together a great package tailored to the right type of customer. The data-based advice and service will last beyond the pandemic in order to be successful in the market.

A 360-degree customer view is what every retailer dreams of. In reality, you still have a very fragmented picture in terms of all the data silos, so customer perception starts from scratch every time.

Axel Kress

Microsoft

Data usage needs to be self-evident for everyone, which must be available within the company and which is the basis of every decision. It is increasingly becoming a key factor. Data is the gold of the future. This is still massively underestimated by many and we are only just beginning to learn what’s behind it.

First and foremost, it’s all about customer perception. Retailers need to develop this understanding of what the customers want and use that as a tool in their business concept.

Aziza Freutel

Textilwirtschaft

Data helps to make better decisions. It simply tells you more than your gut feeling and helps you to serve and support your customers better. Of course, you have an extremely large amount of data at your disposal. Then you simply need the organization and the resources to interpret this data, because just collecting data doesn’t help.

Jochen Schmidt

Swarovski

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