With a big enough database, it’s possible to determine highly specific actionable and profitable patterns in people’s shopping habits. a store recognizing that some women frequently purchase cotton swabs alongside their nail polish, for instance, might place these items closer together in the store to drive sales. The analytical connections don’t end there, as companies can draw real insights from seemingly unconnected pieces of data that will eventually contribute to the bottom line. The fields business intelligence and analytics exploded from this need by retailers to learn more about their consumers and do more with the knowledge. What many don’t…
This story continues at The Next Web
0 Comments