{"id":10061,"date":"2021-08-10T05:28:15","date_gmt":"2021-08-10T05:28:15","guid":{"rendered":"https:\/\/www.soil.edu.in\/?p=10061"},"modified":"2026-02-05T12:04:53","modified_gmt":"2026-02-05T06:34:53","slug":"analytics-in-the-retail-tech-world","status":"publish","type":"post","link":"https:\/\/soil.edu.in\/blog\/analytics-in-the-retail-tech-world\/","title":{"rendered":"Analytics in the Retail Tech World?"},"content":{"rendered":"<style>\n.inner-pic {\n    display: none;\n}\n.blog-pic {\n    width: 100%;\n    float: left;\n    text-align: center;\n}\n.blog-pic img {\n    width: 70% !important;\n}\n.new_blog_section p strong {\n    font-family: 'Franklin Gothic Book', arial;\nfont-weight: 900;\n}\n.new_blog_section ul li strong {\n    font-family: 'Franklin Gothic Book', arial;\nfont-weight: 900;\n}\n.new_blog_section p a {\n    color: #008037;\n}\n.text-new {\n    width: 100%;\n    float: left;\n}\n.new_blog_section .new_blog_right_sidebar ol li {\n    background-image: none !important;\n    list-style-type: decimal;\n    display: list-item !important;\n    padding: 0px 0px 15px 10px !important;\n}\n.new_blog_section .new_blog_right_sidebar ol {\n    padding: 0px 0px 0px 40px;\n    margin: 0px 0px 0px 0px;\n}\n.blog_wrapper_full .one_column {\n    padding: 0px 0px 0px 0px;\n    margin: 0px 0px 0px 0px;\n}\n.pic-new {\n    width: 100%;\n    text-align: center;\n}\n.pic-new img {\n    width: 100% !important;\n}\n.new_blog_section h6 a {\n    color: #008037;\n}\n.text-new1 {\n    width: 100%;\n    float: left;\n    font-size: 25px !important;\n    text-align: center;\n\tmargin: 20px 0px 20px 0px !important;\n}\n<\/style>\n<p>As the world is moving towards digitalization,  the retail industry is also moving ahead  to match the pace of the digital world and bring about a transformation in understanding customer behavior. It is of utmost importance  that we cater to the needs, wants, demands and desires  of end users by creating  dynamic and interactive platforms for the customers. Retailers without technology would be left out behind. <\/p>\n<div class=\"blog-pic\">\n<p><img decoding=\"async\" src=\"https:\/\/www.soil.edu.in\/blog\/wp-content\/uploads\/2021\/08\/analytics-in-the-retail-tech-world.jpg\" alt=\"Analytics in the Retail Tech World?\" title=\"Analytics in the Retail Tech World?\"><\/p>\n<\/div>\n<p>Smart customers expect their preferred retailers to be aware of their choices and predict their next move before they themselves make up their mind. A platform  integrated with Analytics and  its predictive tools can help  retailers know what is required  by which customer at what time. Retailers  must align their business operations  and automate their customer-facing  challenges, using optimization techniques in their mobile platforms. So, this  indicates that <strong>Analytics is becoming a critical part of our business world.<\/strong><\/p>\n<p>A platform  integrated with analytics can help businesses and individuals understand  their customers, not by filling  those traditional feedback forms, but by their time-to-time actions where one  can track each and every customer and their pain point, without even asking.<\/p>\n<p>Amazon, the e-commerce giant, is  one of the key organizations that has adopted a data-driven culture. On each  order, the firm collects over 2,000 historical and real-time data points.  Amazon uses data to optimize sales by automatically personalizing the browsing  experience for its customers based on their previous purchases.<\/p>\n<p>Shell, an oil-based company,  used an analytics platform to run predictive models to anticipate when its  various oil drilling machine parts will fail. Data was utilized to determine  when to buy machine parts, how long to store them, and where to store inventory  goods. Thus, analytics helped Shell save millions of dollars, which reduced  inventory analysis.<\/p>\n<p>Automobile giant, Nissan uses  Google analytics to track and gather detailed information about the product  preferences of its customers. By accessing this information, the company  understands which vehicles are in demand and makes strategic decisions towards  reaching their target audience.<\/p>\n<p>Analytics helps internal and external stakeholders make appropriate and informed decisions, not on the basis  of assumption but purely on the basis of data. <strong>So, isn&rsquo;t it the right  time that retailers look for integrating Analytics on their platform?<\/strong> Isn&rsquo;t  it the right time that we invest on leveraging our Analytical knowledge?<\/p>\n<p><strong>By Sahana M<\/strong><br \/>\nPGPM \u2013 Business Leadership,  Class of 2022<\/p>\n","protected":false},"excerpt":{"rendered":"<p>As the world is moving towards digitalization, the retail industry is also moving ahead to match the pace of the digital world and bring about a transformation in understanding customer behavior. It is of utmost importance that we cater to the needs, wants, demands and desires of end users by creating dynamic and interactive platforms &hellip; <a href=\"https:\/\/soil.edu.in\/blog\/analytics-in-the-retail-tech-world\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Analytics in the Retail Tech World?&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":10062,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"posts_by":[],"audience":[],"industry":[],"faq":[],"class_list":["post-10061","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.8 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Analytics in the Retail Tech World? - Blog - Get to know the details of SOIL&#039;s PGPM and PGDM courses<\/title>\n<meta name=\"description\" content=\"SOIL Institute of Management one of the top MBA colleges in India throws light on the analytics in the retail tech world. Continue reading.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/soil.edu.in\/blog\/analytics-in-the-retail-tech-world\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Analytics in the Retail Tech World? - Blog - Get to know the details of SOIL&#039;s PGPM and PGDM courses\" \/>\n<meta property=\"og:description\" content=\"SOIL Institute of Management one of the top MBA colleges in India throws light on the analytics in the retail tech world. 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