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Creating value from data

Big Data in retail: a wealth of information can be obtained from data generated at the POS, which can be used to create more appealing, tailor-made offers for customers as well as allowing resources to be used more efficiently. The central element behind this? Intelligent services.

The digital world provides many opportunities for high-street retailers to tailor their approach to customers and adjust their offer to the market. With the right tools, retailers can capture consumers’ buying behaviour in real time across all channels. As a result, they can offer products that align with customer interests, create up-to-date reports on the success of their campaigns and offers, or dynamically adjust their pricing to the market. Sales, market and demographic forecasts can be used to avoid staff shortages and respond to trends proactively. Not least, customer loyalty and engagement with target groups can be improved in the long term.

The challenge lies in building the right infrastructure to capture relevant data and prepare meaningful insights. Enter Wirecard’s innovative solution, which makes an ecosystem for data-driven services available to physical retailers. Analyses rely not only on point-of-sale information, but also on abstract data, which Wirecard, as an international payment expert, collects. Special algorithms are used to evaluate and present the data via dashboards: KPI reports and analyses of customer value, satisfaction, segments, pricing, and much more. Physical retailers benefit from an efficient infrastructure, which enables them to optimise their offers and programmes without spending a lot of money.