Analytics solution for omni-channel merchandising

Abstract

With the development of e-commerce, the business competition has risen significantly. Moreover, the channel of retail in Taiwan has evolved from single channel to multiple channels. Nowadays, customers’ loyalties are not easy to retain due to a large number of choices of chain stores, warehouses, and e-commerce in the market. When a desired product is not available in one place, customers can still easily obtain it or choose the substitution by visiting other physical locations or the Internet, which results in loss of customer loyalty for a business. Therefore, as customer can easily change his mind in the multiple channels, how to rapidly understand customer needs is very important. This paper focuses on a development of omni-channel analytics solution platform using the field in cosmetics business as a demonstration. The platform provides business solutions to help corporations better understand their own brands and products sensibility in different merchandised channels, what customers really see and how they react. We provide a spectrum of techniques including data matching, aspect sentiment analysis, an integration and analysis of online auctions, online forums and social networks and other sources of data, such as real-time detection of sales trends or customers’ evaluation and response of the goods. With these valuable information, an advantage of understanding market trends in order to immediately develop market strategies and advanced knowledge of various events influenced by positive and negative effects can all be expected to help the industries prevail against competitors and win public opinions.