We produce an overwhelming amount of data every day, roughly 2.5 quintillion bytes. According to an IBM Study, 90% of the world’s data has been created in the last two years. It was perhaps the beginning of the “big data era” everyone talks about. Today, this big data is driving business operations and reshaping industries. Retail is one of the most widespread and dynamic industries around the globe. It is also the industry that has benefited the most from analytics; the greatest by-product of big data.

But why do retailers need analytics? Retailers face cut-throat market competition. Keeping up with industry trends is essential to stay ahead in the race, especially in this omni-channel business space. Also, as a customer-centric industry, retailers are constantly under the pressure to serve customers better and retain them for longer periods. And, it’s not so easy to satisfy customers and match up to all their expectations.

Retailers therefore need analytics to be able to understand business information better, gain meaningful insights and overcome these challenges by making data-driven decisions.

Retail analytics is the process of studying retail business information and providing actionable insights on the various critical aspects of retail, such as supply chain, inventories, customer demands, and more.

Top business houses are already leveraging analytics for retail success and making the most of it. Here are the 5 best reasons you must consider investing in retail analytics, if you haven’t already.

Consumer Behavior Insights

Analytics allows retailers to study consumer behavior and understand their buying patterns. This is perhaps the biggest reason why retailers are investing in big data analytics. A study conducted in the US reveals that while 96% people search for products online, 65% purchases are actually done offline.

Consumer behavior insights enable retailers to understand why these things happen and offers a solution to improve sales. It is especially a boon for e-commerce businesses, where heaps of customer details, such as most searched items, items added to cart, abandoned cart items, etc. are easily accessible.

Marketing Strategies

Effective marketing is when you hit the right target using the right channels. Retail analytics helps marketers strategize their activities efficiently based on consumer behavior patterns and run profitable campaigns. As much as 13% retailers have already adopted “digital first” as their preferred marketing strategy.

For instance, a family apparel store owner would be interested in knowing where his millennial customers are most active and which channels are best to approach middle-aged customers for a festive offer. Analytics helps with such minute details and helps pick the right campaign for every customer group.

Personalized Offers

Customers love attention, and offering personalized deals is a great way to show your customers that they are important. 75% consumers are more likely to buy from a retailer that recognizes them by name, recommends options based on past purchases.

But the trick lies in offering personalized deals to the right customer at the right time. Analytics helps businesses track down transaction histories and consumer preferences. It indicates what the customer wants, and allows retailers to offer similar choices at affordable rates, closing sales most effectively.

Store Optimization

Although omni-channel retail is the new trend now, 49% consumers still go for in-store shopping because they prefer to touch, feel or try a product before buying. One of the biggest advantages of adopting retail analytics is that it helps in streamlining not just online retail operations, but also helps boosting brick-and-mortar store performances.

It helps retailers analyze minute details like how often a customer visits the stores and how long he stays in which section and making further sales easier. With the help of analytics, it is also possible to stock up sufficient inventories based on consumer demands and market trends.

Customer Satisfaction

9 out of 10 customers like to shop at stores that offer free delivery. Whereas, 42% of customers rely on user reviews before buying a product. Customer satisfaction is the key catalyst behind retail success.

By using analytics, retailers are able to offer the customer exactly what he wants and engage him most effectively. This in turn helps in building a positive brand image, gaining trust and developing long-lasting retail relationships.

All in all, it is important for all businesses across all industries to understand that this is not just the era of big data, but also the era of “Analytics of Everything”, where analytics is everywhere, the powerful driving force behind successful businesses. There are more reasons to adopt analytics than to avoid it. It is probably the best decision to adapt retail analytics at the earliest; before it becomes an absolute must.

Prem Shankar Patel
Senior Manager
Prem brings nearly three decades of analytics and information management experience to Estuate. He is a recognized expert who has received several awards over the years. In 2003, he was awarded the Center of Excellence (CoE) Champion Award for introduction of advanced training and certification for BIDW architects and consultants. In FY03-04 and FY04-05, he received the Best Faculty of the Year Award for his significant and effective contribution as a faculty member in the delivery of BIDW training. Previously in 2005, he received the Feather in My Cap (FIMC) Award for defining metrics for BIDW projects and establishing organizational norms. Prior to joining Estuate, Prem worked in various strategic positions at Wipro Limited and R S Software (India) Ltd. He holds an M. Tech in Computer Science from the Indian Statistical Institute, Kolkata.
Nagaraja Kini
Founder and Chief Financial Officer
Nagaraja has more than two decades of engineering, business development, consulting, alliances and management experience in software development, integration and implementation. He has worked extensively with global teams to consistently simplify ERP implementations for businesses. Nagaraja brings with him the commitment, willingness, and capability to anticipate and act on the continually evolving needs of a business.
Prior to founding Estuate, Nagaraja served at Oracle as Director in Application and Industry Solutions group within Global Sales Support. Nagaraja holds a Master of Technology in Industrial Electronics from the National Institute of Technology, Surathkal, and a Bachelor’s in Engineering from the SJ College of Engineering, Mysore, India.
Marc Hebert
Chief Operating Officer
Marc joined Estuate in December, 2008 as its first Chief Operating Officer. Marc is a recognized expert on offshore outsourcing. He has appeared on CNN’s Lou Dobbs Tonight, was interviewed in Investor’s Business Daily, and has been widely quoted in major media publications, including the Wall Street Journal, Forbes, Fortune, Financial Times, New York Times and Boston Globe on offshore outsourcing. He is recognized as an “IBM Champion” for his role in expanding the market for IBM’s Information Lifecycle Governance product line.
Prior to Estuate, he served in leadership roles at large global corporations, including as the CMO at Virtusa Corporation; EVP, Marketing and Alliances for Sierra Atlantic; and Vice President for eight years at Oracle Corporation. Marc holds a Bachelor of Science degree in experimental psychology from Harvard University, and an MBA from Stanford University.
Seemakiran Upadhya
Global Delivery Head and Managing Director, India
Seemakiran brings to Estuate more than 25 years of experience in the IT industry. She has been successful in building high-performing teams for the Delivery, Sales, and Operations departments. She was instrumental in setting up Estuate’s India center. Prior to joining Estuate, Seemakiran worked at Satyam, where she developed, tested, and implemented software projects in Oracle Technologies across multiple domains. She is highly proficient at working with a global client base.
Seemakiran holds a Bachelor’s degree in Electronics & Communication Engineering from Karnataka University.
Prem Shankar Patel
Senior Manager
Prem brings nearly three decades of analytics and information management experience to Estuate. He is a recognized expert who has received several awards over the years. In 2003, he was awarded the Center of Excellence (CoE) Champion Award for introduction of advanced training and certification for BIDW architects and consultants. In FY03-04 and FY04-05, he received the Best Faculty of the Year Award for his significant and effective contribution as a faculty member in the delivery of BIDW training.
Previously in 2005, he received the Feather in My Cap (FIMC) Award for defining metrics for BIDW projects and establishing organizational norms. Prior to joining Estuate, Prem worked in various strategic positions at Wipro Limited and R S Software (India) Ltd. He holds an M. Tech in Computer Science from the Indian Statistical Institute, Kolkata.
Sreekantha B. S.
Head Strategic Projects
Sreekantha brings to Estuate more than 33 years of experience in IT. He has successfully sold and delivered over 130 turnkey software projects worldwide for various clients across a variety of sectors - from software, finance, manufacturing, utilities, services, and more.
Prior to joining Estuate, Sreekantha led Buzznet (a Malaysian software company) for 17 years and Inventa Corporation (a US-based software company having an office in Malaysia) for 6 years. Through his experience, Sreekantha brings in-depth knowledge of software engineering, delivery, and implementation of software projects across all technology sectors that have emerged over the last 30+ years. Sreekantha holds a Bachelor of Engineering in Electronics & Communications from Mysore University and a Master of Business Administration in Marketing from Newport University, USA.
Naveen Shankar
Associate Director – Talent Acquisition
Naveen is a seasoned professional in the field of Human Resources and brings to Estuate a rich experience of 14 years. He holds more than 12 HR-related certifications, including some in the space of Diversity & Inclusion. Over the years, he has been consistently recognized as a change maker in his respective organizations.
Before joining Estuate, Naveen led ForthPage as the Director-Cofounder. He has also worked with organizations such as General Electric, Time Inc., and Lumen Technologies in critical HR-centric roles. Naveen holds a Master of Business Administration from XLRI - Xavier School of Management, Jamshedpur.
Piyush Singh
Practice Head - Insurance
Piyush has fifteen years of work experience, including one year with Estuate. Piyush holds a Master of Computer Applications degree from Bharati Vidyapeeth University, Pune. Piyush is a highly accomplished professional with a wealth of experience in IT services and product engineering. Piyush has worked with PwC and Accenture in the past and his last positions were Delivery Manager and Dev Lead respectively.
He has received the Great Performance award from PwC and the ACE award from Accenture. Piyush has also delivered many end-to-end projects on a medium to large scale.
Subbarao Satyavolu
Vice President - Service Delivery, Americas
Subbarao is a results oriented Senior Leader with 30+ years experience in Enterprise Solution Consulting, Enterprise Program Management, Digital Enterprise Transformation/IT Modernization, Product Engineering, Governance, Risk & Compliance (GRC), IT Service and Operations Management (ITSM/ITOM) and Strategic Account management. Global experience in building & managing high performing teams in solving complex business & technological challenges for the clients
Subbarao is a proven problem solver with extensive experience in the IT industry. He has been recognized as an outstanding performer by his employers, Hitachi/Sierra Atlantic and Computer Sciences Corp (CSC). Subbarao has also been certified in Six Sigma and Project Delivery Excellence by CSC University. In addition, Subbarao is certified in Supply Chain Management and IT Infrastructure Library (ITIL). He holds an M. Tech in Computer Aided Engineering from Indian Institute of Technology (IIT) Kharagpur.
Satya Bobba
SVP, Global Head of GRC and Customer Success
Satya Bobba brings more than 20+ years of experience in building market-leading enterprise SaaS products and solutions. Her experience spans engineering, cloud strategy, business development and customer success. Her passion is to help customers achieve GRC goals while simplifying their processes and reduce implementation costs. She brings more than 14 years of domain experience in building and delivering GRC solutions to top enterprise customers across Financial Services, Life sciences, Hi-Tech, Healthcare and Quality verticals.
Prior to joining Estuate, she worked at MetricStream as AVP Cloud Strategy, Global Head of Platform Engineering and Head of Advanced Engineering GRC Products and Services. Earlier in her career, at AOL and Netscape she held technical roles in enterprise server technologies and personalization frameworks. She has a bachelor degree in Computer Science from Andhra University.
Prasanna Kulkarni
Vice President - Sales and Marketing
Prasanna is a seasoned Technology & Sales leader with over two decades of valuable global experience. Prasanna has been with Estuate for the past 5 years, leading the Sales and Marketing department with excellence. Prasanna holds a Bachelor of Engineering from GCoE, Amravati and a Stanford Advanced Program Management qualification from Stanford Center for Professional Development. Before joining Estuate, Prasanna held various leadership roles at HCL, Wipro, Nihilent Technologies, and Godrej.
Stanley Perumal
Global Practice Delivery Lead
Stanley Perumala is the Global Practice Delivery Lead with 8.6 years at Estuate. He holds a Masters degree in Computer Science from International Technological University, which is his area of specialization. Stanley has 16 years of experience and has held various positions at Netpace, Cognizant and Hewlett-Packard.
He has received multiple accolades for his achievements such as building an innovation segment with zuora and leading the BRM practice. Stanley is a key contributor for the BRM practice, having built the team from the ground up and building the core team for the same.
Prakash Balebail
Founder and Chief Executive Officer
Prakash brings more than two decades of software development & implementation experience, including over 16 years in several key roles in Oracle Corporation. His management principle has been to provide commitment to continuously improve how he serves all of his customers, partners, and employees by anticipating their needs and exceeding their expectations through a culture of creativity & forward thinking.
Prior to founding Estuate, Prakash was the Senior Director in Oracle Applications Global Sales Solutions team, which built complex Oracle E-Business Suite application demonstrations for Sales activities. Additionally, he had leadership roles in the development of Oracle’s much-acclaimed Business Flow Accelerator (BFA) for the E-Business suite. During this time, Prakash also built the highly-regarded India operations team from the ground up. Prakash holds a BS in Electrical Engineering from Karnataka University in India.