Retail
Astronomical Clock
The 2nd century BC Antikythera mechanism of ancient Greece was used to calculate the positions of the sun, moon, and stars at any given point by use of complex mechanical gears. (courtesy Wikipedia)

Demand Forecasting for Supply Chain efficiencies

Analytics can help retail companies use their data effectively to equip themselves with accurate predictions of consumer demand….

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Retail industry is in its churn like many others, trying to appeal and understand its ever elusive and discerning customers, whose demands have put pressure on marketing departments to stretch to get to the core of what a customer really wants.

Technological developments, as well as increasing dimensions of the global virtual marketplace, have changed customer buying behaviour dramatically, making it imperative to get insights into the customer attitudes and behaviours to facilitate a more targeted customer relationship management.

Today the internet has changed the way customers purchase products & services and e-retailing is threatening physical displays and changing the paradigm of distribution channels in a big way. With all this major swings in the markets affecting volume and depth of service is expected. This will force marketers to revisit their business models and ready themselves for increased volatility and complexities. Businesses will need to innovate themselves to allow for quicker decision making so that they can respond to both opportunities and threats effectively.

In such a scenario Marketers need analytics experts like iQG, to gain an intimate understanding of the potential of such disruptive models and technologies, scope of open innovation to leverage customer anticipations to deliver value.

iQG’s analytics provides solutions in these booming yet uncertain times, offering solutions and strategies to win customer loyalty, operational adaptability, rethinking on revenue streams, sustainable cost reduction, improved sales and quality, re-evaluation of business models, product portfolios, service delivery tools, geographic coverage, optimal marketing spends, effective marketing mix management, selection of communication channels & technologies, price sensitivities, market transparency and redefinition of targets and deep understanding of segments.

At iQG, with use of statistics, mathematical models and algorithms we help businesses tap into the “wisdom of experience”, crunch historical data to generate useful forecasts. We enable our businesses handle uncertainty with accuracy, with the use of tools to make intelligence more actionable.