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Big Data in Retail Industry

Bestmart aims to become the leading retailer for video games this season by leveraging big data analytics to predict trends and customer behavior. By analyzing various data sources, they can optimize stock levels, synchronize pricing based on real-time demand, and offer personalized promotions to targeted customers. This strategic use of big data is intended to enhance the shopping experience and improve competitiveness in the retail industry.

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big data, big opportunities: retail industry
It is the busiest shopping time of the year
and one video game is flying off the shelves.
In the past, stores that reacted to this demand the fastest...
had the advantage.
But today, top retailers are using BIG DATA to gain a competitive advantage
Predicting trends edicting trends
and preparing for future demand. edicting trends and preparing for future dema
BestMart wants to become the sales leader for video games this season.
Their work started months ago...
First, BestMart needs to predict the hot gaming item for this season.
Big data analytics combines enterprise data with other relevant information
to create predictive models of trends.
BestMart also uses big data to predict areas where demand would be greatest.
Now they can stock up and deliver the right number of games to the right channels.
Then, big data insights can provide the base for price optimization models.
Real-time analytics help BestMart synchronize prices hourly with demand, inventory and the competition.
Next, BestMart wants to pinpoint the customers who will likely buy this game
by segmenting customers according to expected buying behavior
contacting them as they wish to be reached
when they are in the right location
and engaging them with personalized real-time offers.
Finally, BestMart wants to know what other items customers would likely purchase with this game.
Big data performs deeper analytics on all data
to find meaningful patterns and hidden insights.
BestMart uses this insight to create an exclusive console and game bundle.
Ultimately, retailers using big data technology
are able to provide a smarter shopping experience
to influence purchase decisions
and edge out the competition.
Learn more about big data at IBMbigdatahub.com