Mobile Based Retail Analytics

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Mobile based retail services are the new buzz word in retail analytics industry. Adoption of smartphones and tablets have changed the way retailers run business. Due to tough competition retailers are exploring new ways to gather more information in less time and make decision at rapid phase. Every day is a new challenge with more number of factors contributing to their success in this highly competitive world. Retailers are expecting to make changes in their business according to customer’s preferences for which mobile based systems are making life easier with access to useful information on the go.

Mobile/ tablet based application, a new trend in the market, helps decision makers with all the relevant information to make important decisions even while travelling. By adopting modern technologies the efficiency of retailers are improving to a great extend. Applications are been built on Inventory, Finance, Commission, Employees, Business Intelligence, Performance Metrics, Sales, Customers and many other areas. Penetrations of smartphones are more than 100% in developed and developing countries; there is huge potential for the applications which provide valuable information in real-time on the go. During the recent shutdown of blackberry server, companies reported decrease in efficiency of their employees by 50-60% which clearly indicates the adoption of smartphone and its importance.

One of the leading tablet manufactures has taken the consumer market by storm and a number of retailer organizations started adopting it for customer service. According to Deloitte’s Predictions for the Technology, Media and Telecommunications Sector, 2011, 25% of all tablets will be purchased by businesses in 2011 and 25% of those businesses will be retailers. The average retailer currently is investing approximately $14,000 in tablet commerce tools, according to the Forrester Research study titled Why Tablet Commerce May Trump Mobile Commerce. Furthermore, the study also noted that 30% of retailers are currently planning to roll out a tablet strategy to help store associates increase in-store purchases.

Application developing companies are using modern technologies utmost, to make it cheap and reachable to decision makers in retail organizations. They have huge opportunity to develop application which can be used in different platforms like iOs, Android, Mango and so on. Most of the SaaS based applications are hosted through cloud computing and fees for the application could be usage basis. This enables retail executives, managers and key suppliers to access information whenever they need. The majority of applications can be customized as per business models. Due to advanced technology retailers achieve faster time to value by reducing deployment time and lower overall cost of ownership.

The new advancements are expected to increase retail efficiencies across boards. This helps retailers to get deep visibility to performances, products and resources, across their value chains. It helps in monitoring performance measurement, competitive analysis, sales forecasting measurement, price benchmarking and marketing communication.

Due to advancement of accessing data using different platforms, companies are concerned about security of data as their information is available through different sources. These applications are highly vulnerable to threads and risk losing information outside their organization. Latest entrants in the market are coming up with more security enabled systems and applications which are giving confidence to a retailer to adopt them.

Retail analytics marketing is changing in rapid phase from computer based systems to cloud based systems to mobile based systems. Telecommunication players competing against each other to release most advanced technology capable device and applications. Modern age devices are equipped with security features of high standards, user interactability, customized to business needs and many more. Decision makers are able to get information on real time at their finger tips which are enabling them to take their decisions in less time. Retail federations around the world are advising retailers adopting mobile based application on areas like adoption, training, implementation and many other aspects related to business operations.

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