Big data is being generated by everything around us at all times. Every digital process and social media exchange produces it. Systems, sensors and mobile devices transmit it. To extract meaningful value from big data, you need optimal processing power, analytics capabilities and skills.
Loopscale as your business intelligence and analytics partner provides the ability to gain insight in your organization, which is critical for the success and It has a direct impact on decision making and help in handling the complex issues.
- Customer and Market Analytics
- Customer loyalty
- Customer Behavioral Analytics – Demographics, Geography
- Customer Life Cycle Analytics
- Risk Analytics
- Credit Rating
- Fraud Analytics
- Customer Service Request Health status
- Collection and Recovery
- Operational Analytics
- Sales Analytics
- Internal Process and Operations Analytics
- Finance Analytics – Top line bottom line
- Production/ Inventory
- Product performance
- Marketing Analytics
- Segmentation and Profiling
- System Integration Expertise in the Analytics space
- Customer and Market Analytics
Client is a major retail groceries stores.
What we did?
Delivered a cloud based Big Data solution to a local supermarket to track customer purchases and share analytical data with consumer packaged goods manufacturers. The initiative is aimed at optimizing buying and marketing strategies to help improve sales and profits for store owners as well as their suppliers. To improve its retail data analytics and data sharing capabilities, the retail store turned towards the cloud based Hadoop Big Data Platform.
Also the system provides ability to track the product feedback, customer perception, via social media like Facebook, Twitter to get an unprecedented view into customer behavior, preferences, and product perception..
Loopscale Inc. provides custom software design and development services. In addition, we offer system integration, networking and database management. Loopscale is privately owned, managed, and headquartered in Boston, MA. It is guided by experienced and highly efficient IT project managers and business analysts who have a combined 100 years of experience in providing technology for various sized businesses in United States and Europe.
The Future of Big Data
Big Data is the biggest game-changer for marketing and sales. Organizations today face overwhelming amounts of data, organizational complexity, rapidly changing customer behaviors, and increased competitive pressures. New technologies as well as rapidly proliferating channels and platforms have created a massively complex environment. At the same time, the explosion in data and digital technologies has opened up an unprecedented array of insights into customer needs and behaviors. Some companies are already turning that Big Data promise into reality. Those that use Big Data and analytics effectively show productivity rates and profitability that are 5 – 6 percent higher than those of their peers.
The companies that succeed today do the three things well:
- Use analytics to identify valuable opportunities. Successful discovery requires building a data advantage by pulling in relevant data sets from both within and outside the company. Relying on mass analysis of those data, however, is often a recipe for failure. Analytics leaders take the time to develop “destination thinking,” which is writing down in simple sentences the business problems they want to solve or questions they want answered. These need to go beyond broad goals such as “increase wallet share” and get down to a level of specificity that is meaningful.
- Start with the consumer decision journey. Today’s channel-surfing consumer is comfortable using an array of devices, tools, and technologies to fulfill a task. Understanding that decision journey is critical to identifying battlegrounds to either win new customers or keep existing ones from defecting to competitors. Some 35 percent of B2B pre-purchase activities, for example, are digital, which means B2B companies need to invest in web sites that more effectively communicate the value of their products, SEO technology to make sure potential customers are finding them, and social media monitoring to spot new sales opportunities. One online retailer, for example, tailors its offers and discounts based on predictions of how likely a valued customer is to defect.
- Keep it fast and simple. Data worldwide is growing 40 percent per year, a rate of growth that is daunting for any marketing and sales leader. Companies need to invest in an automated “algorithmic marketing,” an approach that allows for the processing of vast amounts of data through a “self-learning” process to create better and more relevant interactions with consumers. That can include predictive statistics, machine learning, and natural language mining. These systems can track key words automatically, for example, and make updates every 15 seconds based on changing search terms used, ad costs, or customer behavior. It can make price changes on the fly across thousands of products based on customer preference, price comparisons, inventory, and predictive analysis. One bank in Latin America transformed itself from a little-known player into an institution that was ranked 11th in market capitalization worldwide in part through algorithmic marketing. It captured ATM interactions and fed next-product-to-buy algorithms to call centers, which service operators could use to make suitable offers during the customer’s next interaction.