The convergence of retail to an omnichannel experience drives new requirements to the data platform and the handling of data. While retailers have used analytics in their day to day operations for a long time, there is a shift towards reactions measured in seconds or milliseconds – converging the online and store experiences. Retailers must adapt and be able to analyze current and older data in real-time on a converged data platform, regardless of the data sources.
In this on-demand webinar we will walk you through the fundamental technologies for the various real-time use cases and their criticality for success in the retail industry. We will be covering:
- Personalization and Next Best Offers: offering real-time personalization when consumers shop online or in-store. Recognize your customer when they return to your site or app and match their preferences and history to products that have context.
- Supply Chain Management: real-time analytics is disrupting the supply chain sector, enabling more complex supplier networks. Huge volumes of data are analyzed to report warehouse inventory and POS inventory, as well as being used to predict production and shipment needs. This real-time efficiency verifies retailers have the right products and volumes at the right time – if not, offer relevant product substitutions in real-time.
- Fraud Detection: classifying a card transaction as fraud is based on complex logic of 100+ queries, all working coherently to identify potential fraud patterns. The moment a card is swiped, the database must determine whether to decline the transaction within milliseconds.