Analytics is changing the retail industry fast as more retailers begin to realize the importance of big data and how it will drive successful marketing decisions based on insights gained from customer intelligence and predictive analytics.
According to a Markets and Markets report, the retail analytics market is expected to reach USD 5.1 billion by 2020, boosted by increasing demand for customized analytics solutions in the emerging economies of Middle East and Africa (MEA) and Asia Pacific (APAC).
“In terms of technological advancements, the UAE and regional retail sectors have significantly evolved in recent years as more and more retailers now understand the role of big data analytics in enhancing better customer service and experience. This unique event will serve as a perfect platform to gain insights and the opportunities that retail analytics has to offer and the key role it plays in improving the efficiencies in daily business management and successful decision making,” said Marcel Yammine, General Manager, Gulf & Emerging Markets at SAS.
With MEA market alone projected to record the highest CAGR for the same period, SAS, an analytics player, is hosting the first SAS Retail Analytics Cruise on 16 March 2017, aboard the Lotus Mega Yacht, at Pier 7, Dubai Marina.
With the UAE retail market to be worth USD 54.5 billion in 2017, according to Dubai Chamber of Commerce, and industry forecasts that consumer spending is set to top USD 204 billion for 2017 across a range of industries, the one-day event will feature sessions from domain experts on using analytics for demand forecasting and planning optimization, customer intelligence and retail analytics, to help organizations become more competitive, reduce operational costs, increase revenues and optimize profitability and shareholders value.
Through this event, retailers and C-Level executives will learn ways of using analytics to their advantage and taking decisive action to deliver results. Additionally, attendees will gain insights into best practices, technology, skills and techniques that will facilitate marketing teams to improve sales, generate more revenue and optimize supply chain.
