It's no longer business as usual in the retail industry. It's not enough to know your customers and to provide them with the best services and products. One tiny piece of information --where the customers are -- is the game changer. Retailers can use location data to obtain this information. Location data refers to the trajectories of people and objects. In the retail industry, … [Read more...] about How to Use Location Data to Get Ahead of the Competition
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The Role of Big Data in Black Friday and Cyber Monday Shopping
Have you ever wondered how companies can afford to sell off their products at such low prices during the massive sales events, such as Black Friday or Cyber Monday? As you can suppose, none of their decisions is made randomly. To prepare for such events, retailers need to build a detailed pricing strategy, conduct customer segmentation and, most importantly, constantly collect … [Read more...] about The Role of Big Data in Black Friday and Cyber Monday Shopping
How AI Is Changing Retail Banking
With technological advancement, artificial intelligence is set to touch and modify the financial sector, specifically retail banking in many different ways. It's still the beginning stages of AI adoption for most banks. A Narrative Science survey highlighted that 32 percent of financial executive participants utilize AI technology, such as voice recognition and predictive … [Read more...] about How AI Is Changing Retail Banking
How Smart Point-of-Sale (POS) Machines Can Revolutionize the Future Of Shopping
It's been nearly two years since the October 2015 deadline for US merchants to become EMV (chip and pin card technology) compliant passed. While the US was considerably late to join the party (Europe and Asia have implemented this technology years ago), payments have become safer with a marked decline in fraud. Amidst this shift lies a hidden opportunity for online retailers … [Read more...] about How Smart Point-of-Sale (POS) Machines Can Revolutionize the Future Of Shopping
Virtual Reality – Shaping the Future of Retail Industry
Right from artificial intelligence (AI) to augmented reality (AR) and virtual reality (VR), the latest, emerging technologies are shaping the retail industry at an expeditious pace. Albeit, not yet in the hands of every customer, virtual reality (VR) is gaining a lot traction in the e-commerce industry, lately, and is finding its place in the technology market. Virtual reality … [Read more...] about Virtual Reality – Shaping the Future of Retail Industry
