Digital Experience Platform for Enterprises

  It's safe to say that inventory is at the heart of the ever-evolving retail industry. For businesses worldwide, managing inventory to ensure a pleasant and seamless customer experience has become one of the primary focuses in today's highly competitive retail landscape. The inventory software market is growing rapidly and is expected to exceed   $3 billion by 2024 , with cloud-based software claiming over 30% of that market share. Data analytics, IoT, and Cloud Computing are now some of the most highly sought-after technologies in the supply chain sphere. Good inventory management practices can be a game changer when it comes to achieving exceeding customer expectations and maintaining healthy profitability. While comprehensive inventory control and accurate sales forecasts are reliable strategies, that's just the tip of the iceberg as far as inventory management is concerned. The challenges are as diverse as the global and local markets in which retail businesses operate...

  This holiday season, 30% of global retail sales will be through  digital channels . Are you ready to make the most of it? The evident effects of COVID-19 on consumer behavior have pushed retail models   to integrate more online channels. In the new normal, most customers are engaging with  three to five  channels during buying journeys. On top of that,  reports  suggest that the paradigm shift towards online shopping is a permanent one that will remain even after stores reopen. As a result, this year’s holiday season is going to be one of the most challenging for retailers. And the road to meet new customer expectations is via digitalization. Retailers need to elevate  digital experiences  across channels with consistent information dissemination, on-demand customer support, and timely issue resolution. Significant scaling and refining of digitalization approaches throughout their value chain can remodel operations and stream revenue. By bl...

  With the increasing demands of customer-centric brand presence and digitally broadcasted product launches, enterprises today often face hurdles stemming from poor data handling. Many businesses today, especially global enterprises, have many separate applications and systems (i.e., ERP, CRM and SCM) where data can quickly get fragmented, duplicated and outdated. If not managed carefully, the fragmented data can lead to divisional misalignment and suboptimal decision-making. In such a scenario, enterprises find it increasingly difficult to provide accurate answers to most basic questions on performance metrics or KPIs. This causes significant roadblocks in the business growth path. Master data management (MDM) can help address this need through information consolidation and thereby providing a "single source of truth."  How can MDM help? MDM supports a number of use cases for enterprises across products, customers, stores/locations, employees, suppliers, digital assets and m...

With the advent of the internet and the popularity of smart, always-connected devices, the retail industry has experienced quite a revolution. The vast amount of data available online has enabled customers to research, compare, and make more informed purchase decisions. At the same time, major advances in data analytics have made it possible for retailers and brands to uncover and interpret customer behavior patterns, both online and in-store. As retailing swings between the binary of outright customer loyalty and excessive cart abandonment, it’s not difficult to understand that success hinges on more than just customer impulse. Brands overly obsessing over high growth must realize that at the core of a highly personalized and contextualized retail experience, lies data – consistent, correct, complete, and appealing data. A myriad of decisions, both big and small, have to be made every day to ensure success in the retail space. From de-listing a particular product and adjusting staffin...

A decade ago, an organization could have just created an online store, displayed its catalogue on the website, and that would have been enough to maintain a digital presence and attract customers. A couple of years back, having a mobile persona or application was a must-have to keep up with the growing competition. However, today’s digital commerce demands a lot more. So, what does a successful digital presence entail today? Is it about accessibility? Is it about multi-channel consistency? Or, is it about uniqueness? But above all, digital presence today is more about frictionless customer experience across channels. These experiences closely follow product pricing in the buying journey, eventual purchase, and the overall satisfaction quotient. If the trick about a website experience is organizing products by categories, the mobile experience demands an appealing visual style. At the same time, the visual appeal and user interface of a  digital commerce platform ...

The importance of customer satisfaction is undeniable. Product managers continuously work toward improving customer satisfaction, especially in the digital e-commerce landscape. And to do so, they are often faced with fundamental questions that customer strategy teams have been trying to answer for decades. What is the significant component of customer satisfaction? What makes the buying experience seamless, informative, and engaging? Is it none other than product data? Today, customers tend to conduct product research online before making any purchase — be it online or offline. With the rising demand for seamless shopping experiences, product manufacturers face the dual challenge of seamlessly managing the data deluge and maintaining omnichannel data consistency. If your eCommerce strategies do not address this product data competency, customer experience delivery, sales, and returns are sure to suffer. Assist your customers with solid product information management With t...

What difference will artificial intelligence and emerging technology make to marketing in 2020? CMO asks the experts Technology is changing faster than marketers can keep up, offering up an eternal land of promises. Increasingly, hard decisions need to be made regarding which technology to implement and whether it can be tied back to measurable marketing objectives and improvements. Technology for technology’s sake can wind up being a costly exercise with no discernible point. CMO spoke to the experts about which marketing technology will make the difference in 2020. 1.  AI for customer engagement Leading the list, of course, is artificial intelligence (AI). As the technology continues to evolve in leaps and bounds, so too does its applications in marketing. From next best action, to collating and providing deeper data insights, it seems AI will be the marketer’s right-hand tool for many years to come. In fact, we’ve barely touched the surface as yet. As  P...