Predictive Analytics In Omni Market

Retailers and their supply chain partners including carriers, manufacturers and other service providers have come into a treasure trove of data for analytics and the challenge is using this data to guide their interactions with consumers and other supply chain partners to improve the retail omni market shopping and purchasing. The wireless and network capabilities provide these partners and retailers with a great deal more data than was available from the brick and mortar outlet only and they are taking advantage of this information in many ways to improve consumer shopping and also the products and services offered to consumers. Combine the data available with the connectivity of the collaborative network and the consumers have the opportunity now to collaboration with the retail market as a whole to transform the way that consumers interact with the marketplace.




You see the reactions from the data analytics now in every outlet that interacts with consumers, from delivery services supported by the individual retailers to the final mile delivery customization now offered from UPS and FedEx. These services will start to expand across multiple partners with the expansion of the collaborative marketplace. This is the next frontier really, to socialize teh predictive analytics to put together combinations of services and offerings crossing the entire marketplace. All partners in the marketplace should be building the social network capabilities to allow theme to fully utilize the data and improve the support and interactions with the consumer.




The marketplace now is made up of a series and groups of partners that support different aspects of the consumer shopping experience. This is changing and flattening the relationships across the network that creates a flat social network with the center being the consumer and the network being the partners supporting the individual consumers shopping experience at that point in time. The partners in the marketplace must use data collected from consumers utilizing predictive analytics practices to determine the types of goods and services that will support the consumer demands at that point in time. This means that the collaborative network is critical to the marketplace to meet these needs.




This end result of this transformation of consumer shopping and the marketplace is that there is no single partner in the network that can support all the needs of the consumer and that the goods and services must have the capability to be put together at the point in time of the consumer shopping. This calls out the importance of the collaborative network to support the consumer demands across retailers, suppliers, carriers and specialized service providers. Another important point of this observance is both the importance and the benefits of retailers participating in the collaborative network and the benefits to the retailer of this network. The collaborative network allows the retailer to focus on the activities that differentiate them from others and utilize the collaborative network to support the standardized processes and procedures. This is extremely important for retailers, and especially the large retailers, because they can then focus on the data collected to support refinements and improvements in predictive analytics.