NRF 2018: The Value of Prescriptive Analytics in Retail
Retailers have long gathered data — think back, for instance, to the introduction of barcodes and scanners in the ’70s — but the trick is to use that data to derive actionable insights. We talk with Profitect CEO Guy Yehiav about the evolving use of analytics in retail.
Watch and read more stories from NRF 2018 here.
Guy Yehiav, CEO, Profitect
Vanessa Jo Roberts, Editorial Director, BizTech
- Predictive analytics tell you what could happen; prescriptive data analytics suggest actions to achieve results.
- Prescriptive analytics provide the most value when they are tied to desired outcomes.
- Mutiple touchpoints in the retail chain provide retailers the opportunity to use analytics to improve customer service in response to results-based data.