Increasing Profits by 5% Using Quantzig’s Big Data Analytics Solution
LONDON--(BUSINESS WIRE)--Oct 10, 2018--Quantzig, a pure-play analytics solutions provider, has announced the completion of their latest big data analytics engagement for an online retail client. The client, a leading online retail business player based out of Chicago, was facing predicaments with unoptimized price points and heavily discounted items that resulted in losses. The online retailer wanted to gain control of its multi-market pricing and gain recommendations associated with price points and discounts.
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Quantzig’s Big Data Analytics Helps A Leading Online Retail Business Player Identify Over 5% In Profit (Graphic: Business Wire)
According to the experts at Quantzig, “With the availability of large volumes of data from customer loyalty programs and other buying habits, online retailers can not only gain a comprehensive understanding of their customers but can also recommend new products, predict trends, and enhance profitability.”
Big data analytics helps organizations to leverage their data and use it to identify innovative opportunities. This, in turn, results in better business decisions, increases the efficiency of operations, boosts profits, and enhances customer satisfaction. The concept of customer service has progressed over the past several years and tech-savvy shoppers expect online retailers to understand exactly what they need and when they need it.
The big data analytics solution helped the client to optimize their price points. The online retail client was also able to reduce the amount of loss incurred by gaining control of their pricing strategies.
This big data analytics solution provided benefits that helped the client to:Determine the optimal product pricing structure Gain control of the multi-market pricing To know more about the benefits of Quantzig’s big data analytics solutions,
This big data analytics solution offered predictive insights on:Acknowledging opportunities for immediate and long-term revenue growth. Identifying profit opportunities To gain relevant insights and understand the scope of our analytics engagement,
Quantzig is a global analytics and advisory firm with offices in the US, UK, Canada, China, and India. For more than 15 years, we have assisted our clients across the globe with end-to-end data modeling capabilities to leverage analytics for prudent decision making. Today, our firm consists of 120+ clients, including 45 Fortune 500 companies. For more information on our engagement policies and pricing plans, visit:
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INDUSTRY KEYWORD: ONLINE RETAIL RETAIL
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PUB: 10/10/2018 09:44 AM/DISC: 10/10/2018 09:44 AM