IBM announced a range of analytical solutions for retail
As part of its “Smarter Commerce” initiative, IBM has released a range of analytical solutions that is aimed at delivering a consistent experience across multiple retail touchpoints including store, mobile and online, which the company terms as “omni-channel” shoppers.
According to IBM, CMOs, CIOs and e-commerce leaders are striving to better understand their most effective sales and marketing strategies. The new e-commerce software is designed to help retailers gain insights into all kinds of customer interactions, buying patterns and purchases across platforms. It will will not only help customers make better purchasing decisions and have a personalized shopping experience, but also increase sales by growing average order values, conversion rates and cart sizes for retail enterprises.
In addition, the new e-commerce software includes analytical capabilities based on integrated merchandising and search, designed to deliver more relevant search results. Retailers will obtain a view of cross-channel customer behavior including products viewed and purchased and amount of money spent. This historical data can also be combined with real-time customer interactions to provide targeted product recommendations.
Other new tools and features designed to allow better targeting of omni-channel shoppers include the IBM Attribution Modeler, which offers a complete view of cross-channel campaign performance by individual customers.
“The retail industry and consumer habits are changing faster than anyone could predict,” said Craig Hayman, General Manager, Industry Solutions, IBM. “The digital experience is influencing changes in the store and online and the winners are those that are making omni-channel retailing a reality today from pre-sale to post-sales service,” he added
IBM is currently working with leading retailers around the globe so that it can help them deliver Smarter Commerce experiences to their customers, including Cabelas, Cavender’s, Family Dollar, Office Depot, and SHOP.CA.
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