Intelligent Analytics: Predicting Holiday Sales Success
Analytics can tell retailers how well a product is selling with a certain category of customers in a specific market and how poorly with another group in another market. It can tease out valuable insight, such as whether online ads are more effective against one competitor but not another. It can recommend a defensive strategy aimed at maximizing revenue, such as running a TV campaign targeting a specific set of customers in a specific market.
To be successful in today’s highly competitive environment, marketing must be personalized, delivering timely and relevant communications to the right targets. A sophisticated analytics system can do just that by considering – in real time – each customer’s preferences, shopping habits and past purchases, along with a wealth of other factors.
Analytics is a powerful tool that can help retailers better understand, predict and give customers what they really want. Those retailers that do will have a distinct advantage in the marketplace this holiday season.