Can Predictive Analytics Help Retailers Dodge a J.C. Penney-Style Debacle?
Barbara Thau of Forbes Magazine has a column today about how ForeSee’s predictive analytics help retailers like Perry Ellis, NFLShop.com, and Hickory Farms improve the customer experience and, as a result, the bottom line. The three examples highlighted in this article are just a few of the hundreds of retailers we work with across channels and around the world. An excerpt from the article:
. . . retailers are increasingly turning to ForeSee for its predictive analytics capabilities.
The company conducts customer satisfaction surveys for retailers, the results of which are fed into ForeSee’s statistical engine to forecast what changes to the in-store experience will fly (or flop) with shoppers before those tweaks are actually made. . .
Predictive analytics stands in stark contrast to how retailers typically test changes to their business: by trial and error.
Check out the article here.