IBM announces big data appliance for retail
Retailers can use analytics to understand buying patterns across multiple channels, and build stronger customer relationships, says the company.
IBM rolled out a new Netezza analytics appliance to help retailers analyze up to petabytes of big data.
The new IBM Netezza Customer Intelligence Appliance provides retailers with big data analytics that allows them to analyze all customer interactions within their brand. This includes consumer sales data and online shopping trends to help retailers gain actionable insight on buying patterns.
According to the IBM press release, 70 percent of a customer’s first interaction with a product or service takes place online, placing more importance on the digital consumer experience.
The company said that retailers need to understand their customers from browsing through purchase and across all channels in order to be more competitive. Tapping into analytics is the key to converting petabytes of customer data into actionable insight, revealing their needs and wants, and driving smarter decision-making across a retailer’s organization.
The solution is a combined offering from IBM’s Cognos product line and business partner Aginity. The solution incorporates business intelligence and retail analytics software through which retailers can gain a single view of the customer spanning all channels and sales touch points including mobile, online and in store shopping.
Through its Smarter Commerce initiative, IBM is defining and leading a new market that it estimates will grow to a $20 billion opportunity in software alone this year, driven by the demands of rapidly shifting customer buying patterns in the era of mobile and social networks.
The new appliance is a part of the company’s Smarter Commerce initiative as it can help retailers deepen relationships with consumers and create a sense of brand intimacy.
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