As time passes and businesses look for ways to increase their worth, the applications of big data analytics continue to flourish in new arenas, such as customer insight. Even as new consumption channels develop, retail sales continue to increase, and with increased consumption comes increased opportunity to learn about a growing, changing consumer base. Big data analytics play an important role in customer insight, through purchase recommendations, customer initiatives, market basket analysis, and more. The ability to learn about a consumer base is extremely valuable, and companies are beginning to realize big data offers what they need to successfully maintain business in an unstable market.
he overall trend for retail sales volume is up, despite considerable disruption to the channels consumers use to make purchases. Total retail sales are expected to grow 3.7% to 4.2% in 2017, driven in large part by online sales, which are forecast to grow 8% to 12% this year. Read More
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