TCS Analytics Software to Offer Tailor-made Customer Engagement Strategies Leveraging IoT for Retailers
MUMBAI, INDIA: TCS launches new analytic software to help retailers improve personalized customers experience by analyzing the customer requirements either from in-store sensors or Internet of Things (IoT) devices. The new solutions offered from TCS’ Digital Software & Solutions Group, ‘TCS Customer Intelligence & Insights for Retail’ helps retailers compete more effectively to improve customer experience and fulfil their demands.
The retailers are implementing IoT technologies to boost customer loyalty through organised marketing campaigns. The customer demands are also analysed during the opening or closing of a sale in a particular area. The TCS Global Trend Study on IoT found 50 percent of retailers using IoT for monitoring the customer data through mobile apps and 27.9 of them were foundusing it for tracking data via sensors.
The retailers require unique, data-driven details of customers to provide more lucrative offers to the customers. The new TCS software analyzes the customer personas using proprietary machine learning technologies such as TCS' Adaptive Analytics Engine (A2E) and statistical algorithms, applied to demographic, social media, customer transaction, channel interaction and loyalty data. The A2E technology is implemented to enhance the accuracy of highly personalized actions, discounts, and other interactions with an aim to expand the brand value.
The new solution counters the situation arising with continuous random, irrelevant and untimely offers that occurs when the retailers lack the knowledge about customer preference. The TCS Customer Intelligence and Insights for Retail provides a bridge between systems integrators and growing array of ad tech and marketing tech niche products.
"The Internet of Things is further blurring the line between traditional and online retailing, forcing marketers to reconstruct the customer's journey with their brands across both physical and virtual worlds," says Seeta Hariharan, General Manager and Group Head, TCS Digital Software & Solutions. "Retailers are moving from hit-or-miss marketing to highly relevant, timely interactions delivered in the right context that add real value to their customers. Their goal is creating binding emotional connections at every touch point with consumers to withstand the lure of discounting."