Retail analytics software offers flexible, scalable, and advanced solutions to retailers to make informed business decisions. It offers analysis across store operations, customer management, merchandising optimization, loss prevention, and supply chain management. Retail analytics can be applied to the entire retail chain to transform the business with stronger customer relationships, more profitable growth, and unique competitive advantages. Therefore, retail analytics solutions empower retailers to gain deep insights into retail operations, customer behavior, and marketing campaign effectiveness.

COMPETITIVE LEADERSHIP MAPPING TERMINOLOGY

Based on their performance in predefined criteria, the vendors are placed into 4 categories for retail analytics software: visionary leaders, innovators, emerging companies, and dynamic differentiators. The top 25 vendors in the retail analytics market have been evaluated. These vendors include 1010data, Inc., Angoss Software Corporation, BRIDGEi2i Analytics Solutions Private Limited, Capillary Techologies, Diaspark Inc., FLIR Systems, Inc., Fujitsu Limited, GainInsights Solutions Pvt. Ltd., Happiest Minds, International Business Machines (IBM) Corporation, Information Builders, IntelliVision, LoyaltyOne, Manthan Software Services Pvt. Ltd., Microsoft Corporation, MicroStrategy Incorporated, Oracle Corporation, QBurst, QlikTech Technologies Inc.. RetailNext, Inc., SAP SE, SAS Institute Inc., Trax, Visual BI Solutions, and Zebra Technologies Corporation.

VISIONARY LEADERS

Vendors who fall into this category receive high scores for most of the evaluation criteria. They have strong and established product portfolios and a very strong market presence. They provide mature and reputable retail analytics solutions and services. They also have strong business strategies. Vendors who fall under this category are International Business Machines (IBM) Corporation, Oracle Corporation, Manthan Software Services Pvt. Ltd., Microsoft Corporation, Fujitsu Ltd., SAP SE, SAS Institute Inc., QlikTech Technologies Inc.,and MicroStrategy Incorporated.

DYNAMIC DIFFERENTIATORS

They are established vendors with very strong business strategies. However, they are low in product portfolio. They focus on a specific type of technology related to the product. Vendors who fall under this category are IntelliVision, and Information Builders, and Zebra Technologies Corporation

INNOVATORS

Innovators in the competitive leadership mapping chart are vendors that have demonstrated substantial product innovations as compared to their competitors. They have very focused product portfolios. However, they do not have very strong growth strategies for their overall business. Vendors who fall under this category are BRIDGEi2i Analytics Solutions Private Limited, 1010data, Inc., Angoss Software Corporation, RetailNext, Inc., GainInsights Solutions Pvt. Ltd., Happiest Minds, FLIR Systems, Inc., and QBurst.

EMERGING COMPANIES

They are vendors with niche product offerings and are starting to gain their position in the market. They do not have very strong business strategies as compared to the other established vendors. They might be new entrants in the market and require some time before gaining a significant traction. Vendors who fall under this category are Trax, LoyaltyOne, Visual BI Solutions, Capillary Techologies, and Diaspark Inc.

Retail analytics includes merchandising analysis, pricing analysis, customer management, performance analysis, yield analysis, inventory analysis, and other applications, such as assortment and order optimization. These applications use retail analytics solutions to analyze data from every aspect of the retail industry and analyze the changing customer preferences. Merchandising analytics software provides analytical insights for huge data volumes of store-based operations.

SPACE PLANNING AND OPTIMIZATION

Space planning and optimization solutions provide specific space planning recommendations for a retail store or a cluster of stores. The space planning and optimization feature in the merchandising analytics solution provides a hard look at future space needs and helps with deciding the right size for the entire retail store network. The adoption of such solutions helps in making precise micro and macro-level decisions, thereby improving the operational efficiency of the enterprise. Forward-thinking retailers are leveraging the huge volumes of data from their overall network to enable effective floor planning and attract a greater number of customers. Predictive analytics and decision optimization technologies drive improved results for all-size retailers at the store level and help enhance sales.

PRODUCT CATEGORY ANALYSIS

The large and SME retailers have recognized probable opportunities in offering goods and services through tightly integrated physical and digital channels. Brick-and-mortar retailers have witnessed intense competition from varied e-commerce websites, which has led to a decline in their growth. In the saturated market, these retailers have shifted their focus from opening new stores to embedding consumer insights into their merchandising processes to enhance their sales and profitability. Adoption of the product category management solution enables retailers to manage each product category and maximize consumer demand.

STOREFRONT LAYOUT ANALYSIS

Storefront layout management is as important as space planning and product category management, to maximize floor space for customer and inventory capacity. Retailers are adopting analytics with customizations regarding the effective management of their floor space, as the smallest amount of unused space could cost the potential revenue of the firm. Thus, it is imperative to strategically design the retail store layout and maximize the overall profit.

PRICING ANALYSIS

Retailers have identified product pricing as one of the most prominent aspects of their growth and have worked accordingly on refining their overall pricing strategy. Despite the fact that predictive pricing models offered by different software vendors can manage their pricing and promotion strategy, enterprises have focused on implementing full-fledged profit optimization tools. Performing smart competitive pricing analysis can provide retailers with quickly accelerated growth.

CAMPAIGN MANAGEMENT

Campaign management solutions primarily focus on increasing customer traffic in the brick-and-mortar stores, which will ultimately lead to increase in in-store revenue and customer satisfaction. The adoption of campaign management solutions increases the effectiveness of the overall brand campaigns and promotion programs. To engage more customers, manage customer loyalty, and withstand the competitive environment, retailers need to adopt cross-channel campaign management solutions, which would enable them to merge customer data from multiple channels and deliver the right message at the right time through the appropriate medium. The historical data also assists in determining how each marketing element contributes toward the organization's overall success, volume impact, and business revenue

LOYALTY MANAGEMENT

Large enterprises have increasingly adopted customer loyalty programs to try and address the challenge of every customer. Retailers adopt strategies to target the mass-market with a general campaign. The majority of the retailers are experts in identifying and knowing their customers to improve their overall effectiveness and enhance their market shares. However, the analytics solutions help them in providing a holistic view of that data. Various parameters, such as loyalty management applications are focused on the analysis of customer-centric data and integrate previously available customer data to segment the customers, based on purchasing history, demographics, and other factors. They help retailers target new customers and enhance customer acquisition abilities. Furthermore, they provide segment-specific data that can help in customer retention by loyalty management and segment-specific offers.

CROSS-SELL/UPSELL AND POINT OF SALE

Cross-selling/upselling and point of sale (PoS) analytics solutions complement and extend the capabilities of marketing and customer analytics solutions. One of the biggest challenges for retailers is to target the right customer with the right offering. For the right positioning of the offering, retailers analyze customer buying patterns, history, and demographics, which is the primary reason for the high growth in this business function. The adoption of these solutions helps retailers manage daily store operations and understand customer requirements.

CUSTOMER MANAGEMENT

The customer management and analytics portfolio enable the retailers to deploy personalized engagement on data-driven insights about customer behavior. The solutions are designed to create ideal responses for every single customer interaction. The key requirement for understanding consumer behavior is getting quantified data on their real-time activities. Vendors provide consumer management analytics solutions that help in consistently tracking the quantity and frequency of product purchases, frequency and duration of customer visits, price sensitivity, mostly preferred areas of purchases, customer response to promotional activities, and other such activities.

CUSTOMER SEGMENTATION, RETENTION, AND ACQUISITION

Customer churn is the reality that each enterprise must deal with. Retail analytics software vendors are involved in developing a proactive approach to reduce customer churn and manage customer retention. However, the extent of retailers’ customer retention tactics often comes down to generic loyalty programs, nurture campaigns, and discounts.

FRAUD AND RISK MANAGEMENT

The nature of fraud and risk management is reactive. Retailers keenly adopt fraud and risk management analytics solutions to increase their detection rate and reduce the overall risk. Fraud and risk management for retailers uses different analytic software solutions provided by different vendors with customized features, such as the core SAP Fraud Management product to cater to retail-specific customizations.

DEMOGRAPHIC ANALYSIS

Retailers, irrespective of the industry they cater to, are exposed to numerous challenges, ranging from a demographic shift in operations to changes in customer behavioral patterns and preferences, from shortages in supply to seasonal changes in demand for products, and so on. The adoption of retail analytics software that deal with huge volumes of historical and real-time data, such as predictive analytics solutions, helps retailers to statistically forecast such dynamic changes in the external and internal environment of the enterprises, thereby enabling them to make the right business decisions.

PERFORMANCE ANALYSIS

Performance analysis is a critical application in any retail analytics software, as it can gauge the performance indices of both high-performing and low-performing brands. Moreover, the software can help measure the capabilities of a workforce and determine how much business they are able to generate for the company. The performance analysis is subdivided into workforce optimization and top-performing categories and product identification.

WORKFORCE OPTIMIZATION

Workforce optimization is one of the novel ways to enhance the overall efficiency of the workplace as well as the workforce. Retail chains could use analytics to monitor CCTV footage of the retail store and thereby deploy the right number of salesforce, where the crowd intensity is maximum. Employee attendance could also be monitored using analytics, where the track of check-in and check-out processes of employees can be integrated within the retail analytics software.

Further, as tracking technology evolves, the analytical capabilities of the software can be extended to measure the effectiveness of the workforce. The behavior of the workforce and the sales conversion rates can be closely monitored using the retail analytics software.

TOP-PERFORMING CATEGORIES AND PRODUCT IDENTIFICATION

Analytics can be used to recognize the top-performing categories and products that would be helpful to increase the store traffic. In e-commerce paradigms, the top-performing categories could be displayed on the website’s landing page, which will be instrumental in attracting customers. Similarly, leveraging the power of analytics and tapping on customers’ past shopping behavior, similar top performing products could be directed to them, ensuring a net increase in the basket size of the customer.

Moreover, after identifying top-performing categories and products, the stores could decide on pricing them differently. Demand forecasting and inventory management of such top-performing brands could also be capitalized using advanced analytical techniques.

YIELD ANALYSIS

Demand analysis is one of the key application areas for retailers. Retailers want to estimate the consumer demand for a particular product or service. Demand analysis is one of the most important considerations for a variety of key business decisions, such as sales forecasting, marketing and advertising spending, expansion planning, and numerous other manufacturing decisions. Involving predictive as well as prescriptive analytics could help to forecast the demand properly. Involving prescriptive analytics could also be instrumental in identifying business areas, which are high in demand and need special attention. Marketing and advertising initiatives taken by a company are directly related to demand analysis.

BASELINE FORECASTING

Baseline forecasting is an important application to estimate the future demand using past or historical data, and tools, such as machine learning and AI are used to predict a demand accurately. Baseline forecasting helps retailers to meet with their inventory objectives.

SALES FORECASTING

Applications for sales forecasts play a vital role in any retail organization, as they help retailers to minimize product stock-out and hence optimize inventories. These applications consider the historical data and other dynamics, such as season, promotional influence, and price changes for forecasting sales.

MARKET BASKET ANALYSIS

Market basket analysis or affinity analysis is a technique where retailers try to identify the products that are likely to be bought together. For instance, a shopper buying jeans would also be interested in buying a matching t-shirt. With the introduction of electronic POS systems, rich amount of data is generated, which categorically reveals a lot about a customer’s shopping behavior as well as the ongoing market trends. Recommendation engines with their ability to predict consumer behavior based on past purchases, online searches, and past shopping patterns can be used to significantly increase sales conversion by the retailers. Market basket analysis is an inexpensive way of cross-selling and upselling products and improving customer experience. 

Best Retail Analytics Software

Comparing 40 vendors in Retail Analytics Software across 102 criteria.
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Selected by small-360Analysts
3.6 Online
Manthan Retail Analytics software comprises a comprehensive suite of analytical solutions that deliver critical, action-oriented insights across the retail value chain. Manthan Retail Analytics provides a comprehensive performance management solution that enables omnichannel retailers to make profitable decisions about buying, pricing, assortment, and operations. Under customer analytics, the company provides a set of packaged applications and synergistic services, which help businesses understand customers, predict customer behavior, and provide analytics-driven targeting and personalization.
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IBM offers a range of applications in the global retail analytics software (like IBM Acoustic Analytics), which allow retailers to gain significant insights from the data generated by the applications deployed in their systems. The company offers its innovative analytics solutions through the IBM Acoustic Analytics and IBM Watson Analytics software. Keeping in line with the market trend of moving data to the cloud, IBM offers cloud-based guided analytics, data visualization, and predictive analytics to help data scientists uncover hidden data trends. This has assisted the company in providing differentiated offerings to its customers.
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Oracle provides universal, enterprise-level BI solutions with the Oracle Retail Analytics software, which includes Oracle Retail Merchandising System (RMS) and customer analytics modules. Oracle Retail Analytics is pre-integrated with the company’s retail applications and is designed to accommodate data from other data sources. The company is focused on delivering an enhanced service experience to retailers with a cloud-based strategy. Oracle provides the Oracle Retail Insights Cloud product family with a combination of more than five fully integrated Oracle BI applications.
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Microsoft has slowly carved a niche space for itself in the global retail analytics market by delivering the Cortana Intelligence Suite, which is instrumental in offering cost-effective tools and services to the retailers who are looking to gain insights from the data generated from the various applications deployed in their systems. The suite utilizes advanced analytical algorithms, such as predictive analytics, to offer real-time insights into the data generated by applications, PoS, IoT devices, and social media.
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Fujitsu provides a wide range of highly reliable computing and communication products, and advanced microelectronics solutions. IT products and systems, software, network, and electronic devices are a few of the company’s primary product offerings. The Fujitsu solutions segment consists of infrastructure solutions, industry solutions, business and technology solutions, and Fujitsu cloud. 
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MicroStrategy helps organizations and retailers promptly deploy analytical and security applications. The MicroStrategy retail analytics software suite provides concrete applications and meets the BI demands of organizations. The company provides its end-users full breadth of capabilities, including big data and data discovery solutions. Additionally, distribution analytics, enterprise reporting solutions, enterprise mobility management solutions, and Usher provide real-time data and share actionable insights to enhance the overall performance of enterprises. MicroStrategy analytic solutions are deployed across various industry verticals, including banking, healthcare, insurance, telecommunication, food and beverage, media, retail, and municipal government.
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SAP offers SAP Retail analytics software, which helps retailers in decision making on the key parameters, such as price and promotion optimization, loss prevention, demand forecasting, merchandise and assortment planning, POS analysis, and product affinity metrics analysis. The company offers its solutions and services to retailers who want to gain operational efficiencies and minimize expenditure costs.
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Information Builders provides software solutions for BI and analytics, enterprise integration, and data integrity. WebFOCUS, the company’s software, features an integrated portfolio of centralized and decentralized capabilities, which include data management, predictive analytics, and operational intelligence. The company’s iWay software solutions can work on any platform and can also interoperate with proprietary technologies. These software solutions provide various functionalities, such as data analysis, 360° enterprise view, and hierarchy management, to ensure information consistency and uniformity across enterprises. Platform-as-a-service (PaaS) makes WebFOCUS and iWay readily available through a variety of deployment options, including cloud, hybrid, and federated hybrid cloud.
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BRIDGEi2i works with many Fortune 500 companies globally and solves business problems across various business functions, such as sales, marketing, supply chain, risk, and HR. The company’s key products include an AI-powered sales enablement suite, a 360 . customer experience management platform, a personalized recommender system, and a model governance and monitoring solution. Sales Decision Engine (SDE) is BRIDGEi2ifs AI-powered sales enablement platform that offers complete visibility and control over various sales processes and delivers actionable insights for better decision making.
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In the global retail analytics market, SAS Institute offers retail omnichannel analytics solutions. Enterprises use the SAS retail analytics software for precise merchandise planning and price optimization. The increasing adoption of retail analytics solutions helps retailers drive higher profits, minimize inventory costs, and increase customer satisfaction. The analytics solutions are further categorized into merchandising intelligence, supply and demand planning, customer experience and insight, cyber security, data management, and advanced analytics.
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2.7
Qlik offers QlikView, a business discovery platform that provides self-service BI applications to customers and empowers them to drive innovative business decisions. The platform allows retailers to analyze customers, products, and transactions across various channels and geographical regions. The agile platform integrates data points from numerous applications deployed within an organization’s systems, such as PoS, merchandising, digital advertising, social media, marketing, sales, and finance. It also identifies potential revenue, margin, and profit opportunities.
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2.4
The 1010data platform is an all-inclusive platform that offers several retail applications to customers. The powerful platform offered by the company combines analytical tools for data blending and application building to gain data insights, which ensure a superior customer experience. The platform delivers rich governance capabilities with cloud deployment and helps in offering real-time insights to enterprises. The agile platform offers significant insights into customers’ shopping behavior.
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RetailNext has provided some of the most advanced in-store retail analytics softwares. They have developed models to analyze everything that happens in your store, including customer reactions and their satisfaction level with products. They collect data from maximum sources possible, and the analytics platform compares and correlates the entire data into proper categories.
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Intellivision mainly works at producing Smart Retail analytics softwares consisting of AI-based video analytics products for the retail environment. The motto is to make advancements over the primary channels and to ease business for retailers. These innovative solutions work at formulating in-store customer experience and uplifting them.
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Zebra Technologies Corporation is a platform for retail analytics delivering smart system software under different sectors to achieve a performance edge. Zebra creates an advantage over other digital software that enhances the business results, thus producing happy customers. Zebra technologies connect it's users and data effectively through various products, analytics, and solutions. With years of experience under different industry sectors, the platform delivers comprehensive guidance for optimizing operations.

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FLIR has launched various innovative tools to help in retail analysis to help companies become more sensitive to customers and their needs. They have recently launched the Brickstream People Counting Sensor with Employee Filtering Solution, which helps one understand the customer traffic data in a more comprehensive and precise way.
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2.1
Visual BI has brought about several expert solutions in retail enterprises and retail analytics software is an important tool to handle the arrays of voluminous data that draw on customer’s behavior. The software helps in understanding what the customer wants and how should you act accordingly. They have created a robust mechanism to work around these analytics which can really help the company’s growth and outcomes.
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2.1
Qburst has acquired years of experience to deliver some compelling retail analytics softwares in these competitive times for them. It understands what the customer wants in the current consumer-based environment when everything is readily available in the market. It is important to inculcate trust, and loyalty with customers for the brand and the relationship needs to be sustained by constant improvisation.
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LoyaltyOne has worked for years to gather data from across the world and understand the behavior of shoppers. They have pushed the usage of loyalty programs which can help create insights to get better at promoting products and deliver them to the right customers. They deem it essential to personalise communications.
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GainInsights has worked on building various models that help clients to develop customer-centric strategies that can help in improving retail marketing. It is important in today’s times to understand a customer’s behavioral graphs when they have an array of products to choose from. As a company gains more leverage, loyalty and trust are established, which determines the success of the retail brand.
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1.8
Trax has provided several powerful and consistent tools to collect measure and analyze retailer’s data. There are different tools to be applied in various processes, namely- in-store execution, market measurement, shelf strategy, and store management. All these processes are essential to gauge the retail industry and come up with better products in this competitive market.
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Capillary Technologies aims to understand what customers want from their brands by using Artificial Intelligence by creating precise solutions through retail analytics software via various tools to gather data.
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Diaspark has mainly worked on the comprehensive system of jewelry retail analytics. They have developed a dual interface that works on particular operations related to the jewelry market. There are various real-time operations including special orders, repair, inventory and CRM, which are handled. Detailed analysis and report is produced, which helps in gaining insight into sales performances and more.
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6SENSE is a massively powerful retail analytics software to use. The use of this software helps businesses and enterprises to close business deals and helps them to find the correct answers to many questions with the use of Big Data, AI and machine learning abilities. The software helps in prioritizing various kinds of data, even from unknown buyers. It can be personalized and is multi-channel software.
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AgilOne is an excellent software to use for customer acquisition and to understand the audience base. With features like behavioral analysis, data integration, customer segmentation, predictive meaning, and customer profiling, the software offers the complete AI-support advanced enterprises require. The software allows users to find better and advanced business insights as well as help with the execution of various ideas for business.
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Angoss Software Corporation's predictive data analysis is now known as Altair Knowledge Works. With world-class service, this software allows the users to find the correct insights depending on the industry and allows the users to take the correct actions. The software takes the complexity out of the analysis and makes use of data to find the best business solutions.
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Alteryx believes in staying focused on the specific and individual needs of each customer. The company helps retailers to understand the preferences of customers in a time when so many new channels have changed the way of shopping and its experiences. It provides deeper insights in retail analytics.
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Civis is a big data-powered software that allows the users to understand the customers and buyers better. Known for its ease and person-level predictions, this software goes beyond a simple analysis of customer data. It analyses the data stored by enterprises and SMEs to give a better understanding. Civis is not just guess-work; it offers real answers and remedies for pressing questions.
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Domino Data Labs is one place where one can find the data science tools, apps, results, models and knowledge. Dominos Data labs provide the best developing, validation, delivery, and monitoring models with an open technology platform. They provide the option of using the customers’ choice of tools, infrastructure, and languages. The data scientists of the Domino Data lab deliver faster models appropriate ITE tools and languages even without worrying about DevOps, which are the scalable infrastructure that automatically tracks your work.
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EXAGO INC, a leading BI solution provider, offers business solutions and business analytics. The software is designed in a manner that can be embedded in web-based applications and help the customers to find self-services and generate operating reporting whenever required. It also offers dashboards and scheduling capabilities to the users’ customers. EXAGO INC is a web-based solution for end-to-end BI for SaaS companies.
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Frequently Asked Questions (FAQs)
Today’s retail environment is more competitive than it was a few years back. Retailers are struggling to stay ahead in the competition. Due to increased customer preferences and demand for one-click solutions, most of the retailers have started thinking of newer ways to cater to customers’ needs. Therefore, retail analytics has started gaining major traction among retailers to provide actionable insights from customers’ data. Analysis has been incorporated in every aspect of the retail space. Whether it is merchandising or customer management, retail analytics has offered proven solutions for every retailer. With rapid growth in online retail, it has become the need of the hour to utilize the tremendous volumes of data generated by every online click for strategizing promotional activities and trade promotions.
The global retail analytics market expected to grow from USD 3.14 billion in 2016 to USD 8.64 billion by 2022, at a Compound Annual Growth Rate (CAGR) of 19.7%. Retail analytics has gained major market traction across the globe, due to its capability of analyzing the huge data volumes flooding the retail industry. The unprecedented proliferation of internet connection has transformed the way the world interacts. Exponential rise in social media, cloud computing, and online banking is just the tip of the iceberg and has significantly improved the way consumers engage with the online world. Technologies such as IoT, connected devices, and smart cities are utilizing data more productively. Developed economies have leveraged the internet connection prolifically, and the majority of the new users are emerging from low and middle income countries that are centered across Asia. There is a golden opportunity for retail analytics software vendors to capitalize on this unprecedented growth of internet users. The rising eCommerce sector is changing the traditional way of shopping. Targeted email campaigns, social media advertising, increased levels of personalization, and cognitive analysis of customers are expected to be the key enablers driving sales numbers and increasing the effectiveness of customer loyalty programs. Moreover, with more connected devices, retailers would be looking toward adopting retail analytics to tap into the huge volume of data being generated. Real-time analysis of customers’ shopping behavior, market basket analysis, and loyalty analysis would be aimed at providing customized offers to increase customer retention.
Retail Analytics Market Dynamics Drivers Growing internet penetration Advancement in technologies such as machine learning, AI, and augmented reality Increased use of data-intensive platforms and rapid adoption of social media Restraints Lack of skilled personnel High initial setup cost Opportunities Advent of cloud-based analytics Growing inclination of vendors toward merging in-store and digital operations Challenges Complexities in gathering and integrating data from omnichannel eCommerce streams Rapidly changing consumer preferences
The new innovative application areas are: Merchandising Analysis, Pricing Analysis, Customer Management, Performance Analysis, Yield Analysis, Inventory Analysis, Order management, Transportation management, Assortment and cluster planning and real-estate planning
The retail analytics market comprises software and service providers, such as 1010data (US), Angoss Software (Canada), BRIDGEi2i (India), Capillary Technologies (Singapore), Diaspark (US), FLIR Systems (US), Fujitsu (Japan), GainInsights Solutions (India), Happiest Minds (India), Information Builders (US), IntelliVision (US), IBM (US), LoyaltyOne (Canada), Manthan Software Services (India), Microsoft (US), MicroStrategy (US), Oracle (US), QBurst (India), Qlik Technologies (US), RetailNext (US), SAP (Germany), SAS Institute (US), Trax (Singapore), Visual BI Solutions (US),and Zebra Technologies (US). These Retail Analytics Software Vendors are rated and listed by us on the basis of product quality, reliability, and their business strategy.
Major Retail Analytics Market Developments: In March 2017, Oracle launched the Oracle Retail Merchandising solution on the Oracle cloud platform. The cloud-based retail merchandising offerings optimize mobility, improve customer engagement, and enhance the user experience, thereby improving Oracle’s competitive position in the market.. In January 2017, Fujitsu launched a new version of Retail Engagement Analytics 2.0, a cloud-based solution that uses RFID and IoT technologies to monitor and analyze real-time customer behavior, and provide actionable insights to maximize sales conversion rates. The new solution features video analytics and queue management to help brick-and-mortar retailers collect and analyze a variety of data sources for improving the overall customer retail experience. In October 2016, IBM introduced new Watson solutions aimed at professionals working across a gamut of business functions, such as marketing, commerce, supply chain, and human resources. The company offers IBM Watson Customer Experience Analytics to comprehend a variety of customer behavioral patterns, such as shopping patterns and buying trends.