Retail is a tough and highly competitive market, made harder in recent years with ever-shifting customer expectations.
That’s why having a clear view of what your customers want – and predicting what they’ll demand next – has become more important than ever, writes Sam Sibley, Strategic Partners & Alliances Manager, at Exasol.
But when there are thousands of people visiting your stores and e-commerce sites, the feasibility of personalising the experience for each individual customer can seem like an impossible task.
At the same time, making use of data insights can improve segmentation and help build upon your personalisation strategy, while enabling you to deliver marketing campaigns that are more accurate and cost-effective.
Ultimately, data-centricism is about keeping data at the forefront of every business move and decision, and it’s key to achieving a a single-customer view – as it is only through data that you’re able to truly understand your customer needs.
A recent survey of 500 business decision-makers revealed that 82% of retailers are committed to implementing a data-centric strategy in the next five years, with almost a third stating this is already in place.