Clear Demand was the first to architect a pricing platform from the ground-up on Big Data so retailers can quickly capture and analyze data from any source – store, online, mobile, social media, loyalty programs and weave a consistent and competitive pricing strategy. A popular industry definition of big data describes it as “data that is difficult to capture, store, process and analyze using traditional database and software tools”.
Why is it important?
Knowledge (data) of what shoppers want will level the playing field between online and brick & mortar
Retailers have the data. What they need is more actionable information on how to drive sales and profits.
Unstructured data from mobile, social, online cannot be easily consumed by typical database technologies.
Retailers require Big Data Analytics to harvest a pricing strategy now delivered across multiple channels.
In isolation, big data is not the solution. The solution requires tools and analytics which interpret these big data inter-connections
More data is not the answer. Retailers have the data. What they need is more actionable information on how to drive sales and profit.
Shoppers have more options and price information than ever before requiring retailers to be more rigorous and intentional in presenting their price proposition.
Price has become a more substantial lever in creating an interconnected customer experience, instrumental in reinforcing a brand promise and competing effectively.
Big Data Platform: Part of Clear Demand’s Complete Lifecycle Pricing Solution.
Align pricing with shopper preferences & strategy across channels.