Isolating insights in real-time from distributed data sources, including social media, is key in continuously improving product and sales strategies.
Global retailers partner with ITC Infotech to leverage our Real-time Analytics Dashboard Applications for Retail (RADAR) to maximize their sales based on continuous and dynamic repricing. RADAR provides a comprehensive picture of a product or service by extracting social sentiments and combining it with competitive prices and promotions on the internet.
Isolating Insights In Real-time To Create Winning Pricing Strategies
Business Challenges
To maintain a competitive edge in the digital paradigm, B2C companies such as brick and mortar retailers, online retailers and hospitality service providers need to create continuous repricing campaigns and implement them in real-time through their pricing systems.
Solution Overview
- RADAR analyzes the impact of pricing changes and gauges social sentiment and buzz around the business offering by combining intuitive reporting with cutting-edge technology to crunch real-time data for impactful analytics
- Fast, accurate, efficient and reliable, RADAR is built on the ITC Infotech frameworks and integrates Hadoop’s technologies including HDFS, Apache, STORM, Apache SOLR, Oozie and Zookeeper.
- RADAR uses Apache STORM for real-time data processing and Apache SOLR for indexing and data analysis
- RADAR is powered by ITC Infotech’s proprietary text analysis engine
Results
Pricing optimization
- Continually monitor competitive price moves and realign pricing strategies to create winning offers
Product management feedback
- Use product feedback to drive improvements and monitor the impact of changes/upgrades to products
Targeted social media engagement
- Reach out to social influencers and help drive brand and product perception
Brand monitoring
- Stay on top of how your brand is being perceived in real-time
