Predictive Analytics

Modell’s Sporting Goods is playing to win when it comes to network security.

Operating more than 150 stores throughout the East Coast, New York-based Modell’s is protecting customer data and personal information residing within its infrastructure. Modell’s us using a software-based network security solution from Cyphort to actively monitor and detect suspicious activity.

A new approach to managing the store is taking flight at grocery chain Giant Eagle.

Abandoned carts get plenty of attention. Retailers run reports on lost revenue from abandons. Email campaigns start hitting customers as soon as an hour after they abandon. A day later, another email comes.

Targeting cart abandoners is definitely effective. Statistics show that as much as 25% of lost revenue can be regained via abandoned cart emails. But what if you didn't lose that revenue in the first place?

We'll never live in a zero abandonment world. But we can definitely limit the chances of abandonment.

Abandoned carts get plenty of attention. Retailers run reports on lost revenue from abandons. Email campaigns start hitting customers as soon as an hour after they abandon. A day later, another email comes.

Targeting cart abandoners is definitely effective. Statistics show that as much as 25% of lost revenue can be regained via abandoned cart emails. But what if you didn't lose that revenue in the first place?

We'll never live in a zero abandonment world. But we can definitely limit the chances of abandonment.

In the next few years, retailers around the world are set to substantially increase their investments in e-commerce software, with five vendors spearheading the growth.

According to a new study from Research and Markets, the global retail e-commerce software market will expand at a compound annual growth rate (CAGR) of 12.95% during the period 2014-2019. Research and Markets has identified Magento, Oracle ATG Commerce, PrestaShop, Shopify and WooThemes as the five key retail e-commerce vendors.

The National Retail Federation confirmed what many retailers already knew and made a downward revision to a holiday forecast that initially called for 3.7% growth.
 
Citing what it called “unforeseen events,” the National Retail Federation (NRF) said sales during November and December increased 3% to $626 billion, down from an earlier forecast which envisioned growth of 3.7%.   
 

Sally Beauty Supply is applying analytics to the literal consumer touchpoint where revenues are made -- the point of sale.

Sally Beauty is teaming up with prescriptive analytics provider Profitect Inc. to analyze sales and other data recorded at its in-store POS terminals. After a two-week implementation, Sally Beauty now has better insight into trends and patterns associated with areas of leaking profit, including shrink, damage, costing errors, waste, process mistakes, and lack of training.

Dick’s Sporting Goods is applying advanced analytics to better understand what products it should sell, and at what cost.

Dick’s is partnering with predictive analytics solutions provider First Insight, to help make faster and more accurate decisions in the areas of product design, merchandise buying and pricing decisions on thousands of goods and designs.