Tech Tide Report

TechRadar™: Retail Analytics Q3, 2014

The Best Solutions Already Have Broad Adoption

October 24th, 2014
Sucharita Kodali, VP, Principal Analyst
Sucharita Kodali VP, Principal Analyst
Brendan Witcher, VP, Principal Analyst
Brendan Witcher VP, Principal Analyst
With contributors:
Carrie Johnson , Laura Naparstek

Summary

As retailers look to become customer-obsessed in the age of the customer — through personalization 2.0, a single view of the customer, big data processing, and omnichannel engagement — fresh offerings of retail analytics emerge to monitor, measure, and optimize these new industry trends. Seduced by promises of incremental revenue through investments in the complex technologies that drive these disruptive initiatives, eBusiness professionals lean on retail analytics more than ever before in hopes of finding previously undiscovered insights about customers and their business. In this document, we examine the wide range of solutions available today that allow for discovery and communication of meaningful patterns of data from the retail world, which we label collectively as retail analytics. To complete this evaluation, we employed Forrester's proprietary TechRadar™ framework to look at the current value of various retail analytics solutions, the level of adoption for each of these technologies, and their prognosis in a rapidly evolving digital landscape. The goal is to provide eBusiness professionals with a perspective on where they should focus their energy and what to watch from the sidelines.

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