An article by Steve Lohr in Sunday's New York Times explores the challenges and opportunities that an increasing array of consumer channels and purchase data is presenting to retailers.

An article by Steve Lohr in Sunday’s New York Times explores the challenges and opportunities that an increasing array of consumer channels and purchase data is presenting to retailers.

According to Lohr:

Retailing is emerging as a real-world incubator for testing how computer firepower and smart software can be applied to social science — in this case, how variables like household economics and human behavior affect shopping.

From internal sources like point-of-sale and shipment-tracking data, web shopping data, social media awareness and engagement data or smartphone browsing, to macro consumer metrics like census data, the challenge to better understand consumption drivers across channels and devise strategy with all this data is great.  Retail analytics specialists like SAS Institute are stepping up to this challenge of helping retailers make sense of it.

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