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The current retail landscape is highly volatile. Businesses face various challenges, including operational and supply chain disruptions, shifting consumer patterns, and competition from e-commerce sellers.
Now more than ever, retailers need to leverage data to remain relevant and competitive. Data is critical for strategic planning and building personalized products and services that align with consumer needs, driving customer loyalty, and repeat purchases.
According to the Harvard Business Review, data processing has become increasingly difficult for retailers, many of whom face an information deficit due to the pandemic. Brick-and-mortar retail sales dropped significantly after the outbreak of COVID-19, impacting sales data. Now, retailers are struggling with limited data supplies and compromised data sets.
To survive, retailers need to take stock of their current data inventories, establish a rapidly processing framework, analyze and visualize all of their information.
Datameer has the tools to make this happen.
Datameer is a powerful SaaS data transformation platform that runs in Snowflake – your modern, scalable cloud data warehouse – that combines to provide a highly scalable and flexible environment to transform your data into meaningful analytics. With Datameer, you can:
It is how Datameer is helping retailers adapt and thrive in the new normal. Let’s look at various ways.
In-store shopping data is limited due to the pandemic. As such, retailers need to capture customer insights on social media, e-commerce sites, and customer service interactions — like live chat and mobile.
Retailers use Datameer to transform data into data models directly in Snowflake that aggregate customer behavior data from disparate locations, bringing it together into one self-service platform for rapid analysis and visualization. It enables them to build campaigns and experiences that align with customer expectations.
E-commerce has changed the way consumers shop for products. In the not-so-distant past, consumers mostly researched items online and picked them up in stores. Many shoppers choose to explore things in stores and then shop for them online when they get home.
Omni-channel retailers are now using Datameer to transform, shape, and organize their disparate marketing and merchandising data loaded into Snowflake to create highly personalized in-store experiences.
Inventory management is trickier than ever right now due to widespread product shortages, supply chain issues, and changing consumer spending patterns. Possible shutdown concerns also make it challenging to plan and stock shelves for upcoming seasons.
To streamline inventory management, retailers use Datameer’s easy no-code or low-code data modeling features, making it possible to create advanced and accurate inventory predictions. It enables retailers to make faster, more informed decisions when it comes to choosing which items to stockpile.
R&D teams rely heavily on data when designing and prototyping new products and services. It is a highly collaborative process that requires sharing data and bringing new products to market.
Datameer sharing and collaboration features enable R&D analysts and engineers to exchange valuable knowledge about their data and data models as they move through the development process, making R&D a real community effort.
Getting customers to your website is the first step. Getting them to make repeat purchases is the ultimate goal. It requires understanding who is coming to the website, making purchases regularly, and determining why they are spending money with your company.
Retailers use Datameer to transform and model data into highly detailed profiles and behavior models – allowing retailers to analyze customer behavior analytics, improving conversion rates and, ultimately, leading to more robust bottom lines.