IBM CORPORATION Presence in Retail Analytics Software
The company has strategically invested in R&D to bring about new product developments and enhancements. Witnessing the proliferation of mobile applications, the company unveiled its mobile application, which is intended to expand and extend the retail experience. The user-friendly app provides deep insights into customers’ buying trends. These insights can be used to customize marketing and campaign strategies effectively. The application became a huge success instantly, and is used by more than 5,000 customers globally. IBM follows a mix of organic and inorganic growth strategies to boost its presence in the global retail analytics market. The company launched the Watson Analytics platform in 2014, and is bringing quite a few innovations in its product portfolio. Similarly, in October 2016, a new product was introduced by the company that was aimed at professionals working across various business functions, such as marketing, commerce, supply chain, and human resources. Inorganic strategies, such as partnerships, acquisitions, and alliances are also a part of the company’s mainstream objectives to promote its growth in the retail analytics market. For instance, in March 2017, IBM entered into a global strategic partnership with Salesforce, which enabled both the companies to jointly design solutions by taking advantage of AI. With the partnership, IBM Watson and Salesforce Einstein would be able to seamlessly connect with each other to offer improved levels of intelligent customer engagement across marketing, sales, services, and commerce.