Top Retail Analytics Companies

Retail Analytics provides analytical data on inventory level, supply chain movement, consumer demand, sales and things that are crucial for making right marketing and procurement decisions. It gives detailed information about the customers as well as insight into business and processes of  retailers with the scope and need for improvement. This analytics on demand and supply data can be utilized for maintaining an optimum inventory level and implementing effective market planning.

We bring you a list of 10 retail analytics companies which are helping retailers in effective planning and decision-making through business and consumer insights.

1. RetailNext

It is a patent technology which delivers comprehensive, real-time analytics that empowers worldwide retailers, shopping centers and manufacturers to collect, analyze and visual

ize in-store data. It provides big data solutions for brick and mortar challenges. It uses video analytics, wifi detection of mobile devices, data from point of sale system and other sources to inform retailers about consumer behavior. This versatile platform integrates with a number of store data sources, including promotional calendar, staffing systems, and even weather services to analyze how numerous factors impact shopping behavior.

2. Euclid analytics

This company offers analytics which provides a solution for essential visitor insights to power personalized experiences, long-lasting loyalty, and online-to-offline attribution.

3. Backbase

It is a Netherland-based company founded in 2003. It delivers Bank 2.0 Portal Software that provides a new user experience layer on top of underlying infrastructure and IT systems. It gives financial flexibility and speed to create modern portals that truly empower their customers.

4. Orbital Insight

With the remarkable advancement in computer vision and cloud computing, orbital insight is turning millions of images into a big-picture understanding the world that is quantitatively grounded in observation, creating unprecedented transparency, and empowering global decision makers.

5. Kwik

It is a US-based firm, founded in 2014. It is a platform where retailers and service providers can sell directly to the consumers. Customers simply connect the Kwik button to their Wi-Fi network, enter their details via a user-friendly app and select the items they want to re-order. Once that is done, they are ready to go.

6. Profitlogic

Founded in 1977, the company provides independent network value-added multimedia products and services for telecom networks. Net4Call was acquired by Oracle in 2006.

7. Radius Networks

It offers mobile proximity technologies used by app developers, major retailers, restaurant chains and other brick and mortar operators to generate customer traffic analytics.

8. Scandit

It is a Switzerland-based private company which was founded in 2009. It has established itself as a leader in the emerging BYOD (Bring Your Own Device) scanning market for employees and consumers and also provide a more cost-effective alternative to traditional, dedicated hardware device scanners.

9. Modcam

It has a compact sensor with built-in video analytics for people tracking in retail and offices. It can help in optimizing office space, temperature, lighting, etc. Retailers can detect shopping behavior in every inch of their store and get to know what drives performance.

10. Benchmark Intelligence

It provides a product suite which helps restaurant and retail chains collect customer data and analyze their performance by taking customer feedback. They are trying to improve the overall customer experience by adopting new technologies like artificial intelligence or business intelligence.

Conclusion

Retail analytics has become the most important and useful tool for  retailers and is being used by most of them. It enables fact-based, insight-driven decision-making to manage their strategic, operating and financial performance, and create shareholder value. Retailers can also adopt different ways to derive more customer intelligence and operation insights from their overflowing database and make effective marketing strategies.