Analyzing the Trends on the Future of Data and Analytics in Retail

Laura Davis-Taylor, InReality Chief Revenue Officer, touched base with MarketScale’s Tyler Kern to take a look back at NRF 2020, Retail’s Big Show.

Through its SaaS platform, coupled with IoT sensors, InReality provides Edge Device Subscription Packages that deliver customer analytics, driving insights and decisions for brands and retailers.

As such, Kern and Davis-Taylor hit the high points of NRF regarding data in retail, analyzing what the trends say about the future direction of data and analytics in the industry.

In particular, Davis-Taylor highlighted emerging methods for data collection, the “buckets” of retail data and how they’re intertwined, connecting online, mobile, and place-based data streams, and more.

“Inside these physical venues, these stores, (people want to know), ‘How many people were really here? Where were they?  How did they hang out? What did they look at? What got their attention? What kind of emotions did we actually generate or not generate? What did they do because of something we put in front of them?,’” Davis Taylor said. “Most importantly, how did all of those things either aid and abet or potentially detract from revenue?”

To keep up with all things retail, stay tuned to MarketScale’s Retail Industry publication here.