Europe Retail Analytics Market - By Deployment Model, Vendors and Country - Forecasts and Trends (2015-2020)
In 2012, retailers in Europe made more than 3 trillion in revenue and accounted for more than 11% of the GDP. There are also more than 6 million companies active in this region. It employs more than 33 million people. Europe is home to many of the very big retailers in the world like Tesco, Carrefour, Lidl, Metro AG and Aldi. The retail market has undergone a lot of change with the arrival of internet and smart devices. In the earlier days, word of mouth, TV and print advertisements were the major ways through which retailers could launch new products but now internet and social media has changed the shopping habits of the people. These days online shopping has become a major market for the retailers. There is a lot of raw data that is produced whenever consumers log on and buy products online. Shops also have raw data when they feed in their sales value, footfalls and other parameters on their computer. This big data is analyzed and the information got from it, gives the retailers valuable insights to improve their sales and increase their revenue. This data can be used to industrialize the analytics discipline on an enterprise-wide scale.
Retail analytics helps the companies to not only capture new markets but also manage fraud and secure their operations by giving insights about various sources like Organized Retail Crime and supplier fraud. Retail analytics helps companies to be personalized to the customers and cater to individual needs of the consumers. In sectors like banking, this will be useful where the business intelligence acquired can be used to do personal banking. Retail Analytics will help the companies do demand forecasting and predict the demand for a product in the future. This will help the company keep their warehouse stocked up before the peak demand for the product. The report analyses the market based on application segregated by the end user industry including Supply Chain management, Marketing and Customer analytics, personalized services, Merchandising and Strategic Decision making. Detailed market shares are given and forecasts for the next five years are estimated.
The major companies in the market like Vitria, GE, Splunk and others are studied and their strategies are analyzed. Recent developments and their impact on the market are analyzed.
With continuous developments in Big Data analytics, this data can now be used to generate meaningful insights that can help in the generation of revenue and capturing untapped potential in the market. This data can now be used to industrialize the analytics discipline on an enterprise-wide scale. Apart from capturing new markets, Retail Analytics also enables firms to manage fraud and secure their operations by giving insights about various sources of shrink like Organized Retail Crime and Supplier Fraud. This helps them in optimizing their business procedures by incorporating this analytical data in their strategy and planning.
Retail analytics enables personalized services customized to the needs of individual customers; this is particularly useful in sectors like Banking, where banks can use this customer information and business intelligence to deliver solutions based on each account holder's individual financial needs.
Retail Analytics will help the companies in predicting the demand for a product in the future. This will help the company in keep their controlling their inventory before the peak demand for the product.
The Retail Analytics Market faces few issue due to the lack of skilled personnel, who are not efficient enough to derive the required insights from the retail data.
The report analyses the market on the basis of applications segregated by the end user industries like Supply Chain management, Marketing and Customer analytics, Personalized Services, Merchandising and Strategic Decision making. Detailed market shares and its forecast over the next five years are estimated.
Major companies in the market like Vitria, GE, Splunk, Angoss Software, Experian, and others are studied and their current market strategies are analyzed. Recent developments in this market and their impact on the market are also analyzed.
WHAT THE REPORT OFFERS
1.Europe Retail Analytics Market Overview with information on drivers and restraints
2.Retail Analytics Market Analysis and its applications in the industry
3.Identification of factors responsible for changing the market scenarios, rising prospective opportunities and identification of key companies which can influence the market on global and regional scale
4.Extensively researched competitive landscape with profiles of major companies along with their market shares
5.A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information
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