Impact of Big Data on Customer Retention in the Retail Industry

1. Researchpaper ImpactOfBigDataOn Customer RetentionIn The RetailIndustry Tags: Tutors India | Retail Marketing | Big Data | Retail Business | Inventory Replenishment | Inventory Management | Auto Replenishment | Dissertation Writing Service | Dissertation Topic SelectionHelp | Resit Dissertation | Powerpoint | Poster Copyright © 2019 TutorsIndia. All rightsreserved

2. TutorsIndia Lab @ TutorsIndia.Com Business & Management (B&M) Lab at TutorsIndia is involved in exploring novel research areas for the challenges faced by today’s technology-oriented business or organisation, the market, the economy, finance and sales. The research team explores and identifies troubling questions that exist in scholarly literature, in theory, or in practices that needs deliberate investigation. | Resit Dissertation | Powerpoint | Poster Copyright © 2019 TutorsIndia. All rightsreserved

3. 01 You will find the best dissertation research areas/ topicsfor future researchers enrolled in Business& Management. In order to identify the future research topics,we have reviewed the Business & Managementliterature (recent peer-reviewedstudies). 02 Overview Big data is concerned with the effective useof business information which can be used for informed decisionmaking. 03 Most of the retail transactions occur in siloswith minimum scope for sharing vitalinformation. 04 The potential for growth and expansion for theretail industry is much higher than any other industry due to increased purchasing power and standard of living. 05 | Resit Dissertation | Powerpoint | Poster Copyright © 2019 TutorsIndia. All rightsreserved

4. RetailIndustries-INVENTORY Inventory is a crucial resource for any business but for the retail industry it determines thefuture. In case of non-availability of inventory at the right time in the right place, there are great chances of losing the customer forever. A lost sale has multiple impacts on the business ranging from lost revenue, customer dissatisfaction, higher cost of procurement,etc. You will find the best dissertation topicfor future researchers enrolled in Business and Management. These topics are researched in-depth at the University of Glasgow, UK, Sun Yatsen University, Universityof St Andrews and manymore. | Resit Dissertation | Powerpoint | Poster Copyright © 2019 TutorsIndia. All rightsreserved

5. InventoryReplenishment Tutors India has vastexperience in developingDissertation topics for students pursuing the UK dissertation in Businessand Management. OrderNow Inventory replenishment has three vital tasks, namely sales forecast, inventorymanagement, andauto-replenishment. Big data is used in thesales forecasts focusing on understanding the buying behavior and pattern of customers. 01 02 03 04 Retail businesses most often maintain ExcelSheets or ERP to record sales, however, least is done on the predictive salesanalysis. With the help of big data,the business can be in a comfortable position of foreseeing future sales to amend the inventory position. | Resit Dissertation | Powerpoint | Poster Copyright © 2019 TutorsIndia. All rightsreserved

6. Inventory management includes a wide range array of functions including inventory control and logistics. InventoryManagement 01 By using big data retail businesses will be able to control the level of inventory in thebusiness. 02 Since over and under stocking has the directbrunt of operationalefficiency. 03 The culmination of the business data with data analytics will help retail businesses in a bigway by ensuring to avoid a lostsale. 04 Download our dissertation related Reference book & paperssuch as tutorials, proprietary materials, research projects and many more @ tutorsindia.com/academy/books | Resit Dissertation | Powerpoint | Poster Copyright © 2019 TutorsIndia. All rightsreserved

7. BigDataInInventoryReplenishment -RetailBusiness Increase the operational efficiencyof the business by obtaining real-time information about inventoryposition. 01 In order to identify the future dissertationtopics, we have reviewed the dissertation (recent peer-reviewedtopics) on\ both engineering and management. OrderNow 02 Increase customer satisfactionlevels. | Resit Dissertation | Powerpoint | Poster Copyright © 2019 TutorsIndia. All rightsreserved

8. CurrentChallenges A strong and robust analysis of data, the data collected from various stakeholders should be accurate and precise. Apartfrom 01 the correctness of the data, the methodof collection of data is alsocrucial. 02 Operational difficulties such asinsights of the industry, logics of the data set, etc need to bestreamlined. The industry has the potential to grow and become one of the most important sectors in international business,however, due to industry-specific issues, it isyet 03 to grab the eyeballs of thepotential workforce. | Resit Dissertation | Powerpoint | Poster Copyright © 2019 TutorsIndia. All rightsreserved

9. Conclusions Big data has the potential to largely contributeto unleashing the scope for the retailindustry. 01 It will help the business to comprehensivelyunderstand and collaborate data for better decisionmaking. 02 Business is incapable to handle data frommultiple stakeholders and use them in favor of the business, the only feasible solution is bigdata. 03 Big data also provides data security and privacy,the information collected and analyzed can be stored and used for thebusiness. 04 It can be concluded big data is capable torevolutionize the pace and nature of the retail industry across the globe. 05 | Resit Dissertation | Powerpoint | Poster Copyright © 2019 TutorsIndia. All rightsreserved

10. FutureScopes 01 Big data analysis will help companies to explore and captivate on the potential of using a large volume of data, compiled in a sensibleformat. 02 03 Due to the increased cost of logistics due to fluctuating fuel prices and inconsistent vendors, big data is considered as a perfect solution for concerns over inventorymanagement. Better collated data has the power to be considered as a competitiveadvantage. 04 Due to easy accessibility and high feasibility, e-business has become a major game- changer in the retailindustry. 05 The industry is looking at gathering information from offline and online customer patterns to enhance the overall customerexperience. | Resit Dissertation | Powerpoint | Poster Copyright © 2019 TutorsIndia. All rightsreserved

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