Technology

Data Analytics for Retail Business | Top Golang Web Development

DATA ANALYTICS FOR RETAIL BUSINESS

Business Problem
Retail industry is among top other industry segments realising the need of data driven business. Retailers who use predictive analytics achieve 73% higher sales than those who have never done it. Retailers are opting for Analytics solutions to study customer behaviour and thereby increase profitability and sales.

Client is looking for a Big Data analytics solution that will pull data from different sources to determine:

Know what customers are most likely to buy in advance
Determine the highest price a customer will pay for a product
Target recommendations and promotions
Practise better price management
Reduce fraud
Improve supply chain management
Enhance business intelligence
Business Solution
We developed a Big Data analytics platform using Golang, Python , and Hadoop to pull data from TeraData. The Platform can produce Analytics based on Historical Data, and at the same time, it offers Predictive Analytics based on Hadoop Data storage. The client has a Data volume turnover of 900GB annually.

This Data is in the form of Structured as well as Semi-structured Data which is sourced from Products, Customers, Departments, Orders, Transaction, Purchase History, and much more.

Our Data Analytics solution collects, stores and analyses data collected from SQL Server (Client Database Server) by scheduling job to pull relevant data.

Deciphering this massive amount of data the platform can determine:

Dynamic Pricing
This analytical platform has a great advantage in dynamic pricing as it responds to the competitive market rapidly by changing the prices of its products every 2 minutes (if required)
Clickstream Analysis
Click Stream analysis defines the pages the visitor visits on a website. Further it tracks the path visitor takes to reach to the final page to make a purchase. This helps businesses to reduce the steps and enhance usability. Enhanced usability results in minimizing the customer drop-outs.
Social Media Analysis
Customer sentiment analysis helps business owners knowing the positive and negative feedbacks of the customers using their products. These feedbacks are captured from social medias and gives business owners the insights of any difficulties customers are facing and take necessary actions to improvise.
360° Customer Analysis
Customer Satisfaction is the key for retailers to boost their sales. Retailers can leverage their businesses using data analytics solution. Our data analytics solution assist retailers in analysing the consolidated data captured from POS, online transactions, social media awareness and customer service centers.
Fraud Detection and Prevention
The predictive/ Big Data Analytics platform thus provides the Client with crucial information. This prediction aids them in taking accurate actions to avoid frauds.

Technological Solution:
The cluster for creating this platform includes:

18 Computers
1 is a Name Node with 96GB RAM, Hard Disk 6TB, Octa-core Processor
12 Data Nodes with 32 GB RAM, Hard Disk 2TB, Octa-Core Processors
Business Benefit
Customer Satisfaction
Increase sale
Data Processing time down to 1 week & even daily
Mainframe Cost Saving
Identify new product opportunities within our current market
Build unique customer profiles & personas in order to match solutions to specific customer needs
Improve brand image of our company
Avoid offer spam

Leave a Comment