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Raju G

Retail Recommendation Engines to Improve Customer Relationships
Retail Recommendation Engines to Improve Customer Relationships Raju G

Great People. Amazing Tours. Beautiful Paris.

Retail Recommendation Engines to Improve Customer Relationships

In the modern retail ecosystem where the consumer is in control of the marketing channels, cloud based contact center can offer your retail business a solution to connect to the consumers across multiple touch points. Cloud based service offerings can not only enhance omnichannel experience, but also streamline data flow and optimize your computing operations.    

Recommendation system with purchase data is at the heart of the technological change in the retail sector that has transformed the way retailers interact with their customers. Retailers are now moving away from traditional marketing and finding newer ways to engage with their customers more efficiently and meaningfully by going the digital transformation way.

Recommendation engines encourage customers to explore newer products. They provide better and richer alternatives for items the customers plan to purchase. They also recommend options under various categories like related items, popular products, items bought together, and more.

These experiences are important to keep customers loyal to a retailer and consequently improve the retailer’s ROI. Netflix may not be a traditional retailer, but it is easy to understand how lost the viewers would be had it not been for its super-efficient, ever evolving recommendation system!

Recommendation Systems with Purchase Data

Recommendation Systems with Purchase Data

Recommendation systems with purchase data are introduced at specific points in the journey of shopping and at the end of the journey so that the customer feels fulfilled with their experience. For this, several players use decision tools. Called “automatic recommendation systems,” these tools analyze a customer’s purchase behavior and set the stage for  digital ubiquity in retail. By employing complex algorithms, they help retailers identify products the customer may buy if they were to display it to the customer.

Let us look at how the recommendation engines really work towards creating and maintaining an enriching customer relationship.

#1. Wide Products at Disposal

Recommendation engines are data crunchers. They have complex algorithms that gather information on consumers behavior in digital retails by browsing history of customers. They highlight the best-suited and best-selling merchandise based on customer reviews and ratings. The right recommendation engine also aide retailers to send emails and keep the customers updated with the latest trends in the category of the purchased item. Thus, these engines create a long-term sustainable relationship with the customer.

#2. Concise Presentation of Products

Many retailers use recommendation engines for targeted marketing via email campaigns and website pages. Thus, they are capable of recommending several products from different categories. All these results are based on browsing history and have a higher likelihood of being bought when presented at the right time and in the right manner. These algorithms also browse through numerous merchandises listed in the retailer’s database, and present buyers a much narrow selection of items that they would likely purchase. Implementing artificial intelligence can save time and deliver a better user experience. This feature helps create a strong trust factor as customers know the retailer’s capabilities and how seriously they take this relationship.

#3. Customer Satisfaction

journey to intelligent automation

Recommendations engines make the journey to intelligent automation seamless for the retailers and much more enjoyable experience for the customers. In instances where the visitor left the site for some reason, the recommendation engines play a vital role in getting the attention of the customers back to the website. Features such as the availability of previous browsing data save time and energy of the visitor. It assists them to take the shopping activity further. The best recommendation engines make the whole process more engaging and increase the satisfaction rate of the visitors.

#4. Personalization

Machine learning and intelligent automation make recommendation engines act more like the customer’s friend or family. They are capable enough to give the right recommendations. As human nature, when shoppers feel indecisive about a purchase, they always look for a piece of advice from someone known to them. The trust factor comes from the fact that they know the buyer well and will give good recommendations. Product recommendation engines collect data to personalize offers and ensure that customers are happy with their purchase. Retailers can earn customers’ trust and loyalty by proving how well they understand them.

#5. Retain Happy Customers

AI recommendation engine in retail empowers retailers to present multiple relevant options to the customers that complement their requirements. It makes it easy for customers to avail loyalty points which in turn helps the retailer to retain customers and keep them engaged. Machine learning and data science technologies record, cleanse, normalize, and aggregate data which results in an extensive inventory of actionable recommendations for the customers.

AWS Neptune – The Graph Database Solution

Accelerating digital transformation in retail is Amazon Neptune. At the core of Amazon Neptune is a purpose-built, high-performance graph database engine. AWS Neptune is optimized for storing innumerable relationships and querying the graph with milliseconds latency. It makes it easy to build and run applications that work with highly connected datasets, as in the case of recommendation engines. Amazon Neptune stores relationships between information such as customer interests, friends, and purchase history in a graph and quickly queries it to make recommendations that are personalized and relevant. With AWS Neptune, retailers can use a highly available graph database to make product recommendations to a user. The recommendations are also based on merchandise purchased by others who have the same requirements and have similar purchase histories.

CONCLUSION

By going deeper into customers’ interests and preferences, product recommendation engines display more-relevant and predictive recommendations in today’s curt-throat retail digital transformation market. These tools are capable to access a broader range of merchandise to include niche items in shoppers’ recommendations.

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6 Types of Product Recommendation Engines Your Retail Store Needs
6 Types of Product Recommendation Engines Your Retail Store Needs Raju G

Great People. Amazing Tours. Beautiful Paris.

6 Types of Product Recommendation Engines Your Retail Store Needs

The retail product recommendation engine is becoming a key aspect in driving e-commerce sites and influencing user experiences. Thanks to them, the online stores are always open and they seem to understand what buyers might be looking for and often offer interesting choices. Not surprisingly, product recommendation engine is a vital aspect in the journey to intelligent automation in the retail industry.

What are Product Recommendation Engines?

Product recommendation engines use advanced algorithms that are deployed as a part of digital transformation. They first understand and build a unique profile for every customer. Then these engines filter through their product catalog and based on complex algorithms, recommend products that could likely be of interest to the visitor. It takes into account customer data including purchase history, preferences, and feedback. The gathered customer data is then automatically personalized into accurate recommendations. Since these algorithms are powered by AI and ML, it is evident that  implementing artificial intelligence can save time, assist e-retailers to influence sales and improve customer satisfaction.

6 Types of Retail Product Recommendation Engines

  1. Posters

With the help of posters, retailers can advertise the most frequently bought items and influence customers. Poster based Product recommendation engines track buying patterns and assist the retailer with this information. With this data, retailers can curate interesting posters and email to new customers, or celebrate  personal milestones such as birthday or anniversary.

In this age of digital ubiquity in retail posters can be built around a host of relevant events or milestones using data collected across multiple channels.

  1. Rating-based Recommendations

The popularity of a product is a key influencer in a customer’s purchase decision. User ratings are used to build a perspective of popularity. Ratings can be both explicitly tracked or based on implicit customer behavior. Recommendation engines use a combination of natural language processors and advanced algorithms to review the data and create popularity ranks of similar products.

User ratings, product reviews, and social comments are types that can be explicitly tracked.

The retail product recommendation engine that is based on user-ratings additionally tracks customer behavior on the website like the number of clicks, how long did the mouse hover over a product, what sections of the product description did the user visit. Such browsing behaviors are implicitly tracked and used to make suggestions.

  1. Personalized Recommendations

Recommending targeted content reflects in higher transaction rates than highlighting best sellers or new products. By analyzing the browsing history and earlier purchase patterns, recommendation engines can suggest personalized products for the buyers. The personalized recommendation is helpful in “long tail” product sales and triggers the journey to intelligent automation.

However, personalized product recommendation engine requires a large amount of data about shoppers. It can thus be difficult to provide the service to new visitors. In instances where there is not enough data available on customers, the engine looks for all-purpose and larger category-filtered searches. In such cases, the engine uses metadata in place of customer-based data.

  1. Similar Products

Category-based filtering is another intelligent automation that helps in similar product suggestions. Along with meta-data-based similarity, similar product recommendations enhance the performance of the store. To be effective, a similar product recommendation engine needs clear product details. It needs attributes and categories of each product categorized properly to actually be able to work. This widget can be used for campaigns that address browser abandonment and basket abandonment.

  1. Collaborative Filtering Engine

The collaborative retail product recommendation engine works for both similarity and personalized recommendations as it revolves around collecting preference information from various users. It takes into account the frequency in the purchase history or browsing history of a couple of items by multiple users. It is also called “Customer Who Bought / Viewed This …”.

The collaborative filtering engine that run on ML algorithms are another way of accelerating digital transformation in retail. It recommends other items the customers might like based on what products the site visitors have been engaging with. The widget specifically requires data relating to the purchasing habits of other customers and is often used for welcome campaigns.

  1. Frequently Bought Together Engine

Frequently bought together engine can be a productive recommender if displayed on the cart page. At the time of checking out, if the cart page displays real recommendations to help customers with inter-related products that can be purchased together, it makes the shopping experience much more fruitful. The widget is a great way to generate more sales via cross-sell techniques.

The engine works on the belief that consumers behavior in digital retails can be mapped to other users who have similar tastes and same spending habits. This recommendation engine can be used in post-purchase emails such as the order confirmation emails. The buyer might not purchase the recommended product immediately, but chances are they will eventually buy it to get the most out of their latest purchase.

“Top Products”, “Latest Products”, “Recently Viewed” are some other favorable product recommendation engine. “Top products” is a good option to display the brand’s popular products. when there is limited or outdated customer data. “Latest products” widget helps promote the brand’s latest range and showcase what’s new. “Recently viewed” engine can be used in browsing abandonment emails and retargeting campaigns. It sends an email reminder to a customer who might have been distracted while shopping as no purchase was made.

Different product recommendation engines are suited for different campaigns. They play a crucial role  in today’s retail digital transformation market. Each one of them help e- retailers to take their business to the next level. Some technology solution providers have developed plug and play APIs to fill the gaps in the digital transformation journey.  As a retailer, all you need to do is find a trusted technology partner and get started.

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Impact of Digital Transformation on Back-end of Agile Retail Organization
Impact of Digital Transformation on Back-end of Agile Retail Organization Raju G

Great People. Amazing Tours. Beautiful Paris.

Impact of Digital Transformation on Back-end of Agile Retail Organization

The most striking trend witnessed by the retail industry in recent times is the unprecedented rise in the number of start-ups with their disruptive and innovative business models. But have you ever wondered what decides their future in the ever-competitive retail ecosystem? It is their ability to react at that crucial point where their growth starts adversely affecting their agility. The faster they recognise the impact of digital transformation on agile retail, the smoother is their transition from a promising start-up to a mature enterprise.

Scale Vs Agility: Maintaining the Right Balance

Most retail start-ups begin their journey modestly. They operate as a small independent unit with flexible supply chain, an easy-to-manage inventory model and a customer-friendly front-end experience. Their size allows them to stay agile and increase their sales volume rapidly. But with rising sales, they reach a tipping point where they must measure their scale vis-à-vis their agility. At this stage, it becomes necessary for them to create a solid digital backbone and develop a back-end that has the strength to endure exponential growth while being nimble enough to respond faster to customer needs.

Staying Agile is Staying Alive

But why only the start-ups? If you are an established retailer digital transformation impacts you too. The challenges may be different, but the solution is similar. It is imperative for you to break the legacy of centralised operating system and implement a digital adoption strategy. A simpler and leaner approach designed around customer experience can certainly keep your business going.

Retail behemoths across the world are solving their technology problems to address customer pain points. They are undergoing end-to-end value chain transformation to become agile digital enterprises. Embracing agile approaches seem to be the only way out for them to accelerate efforts to innovate and stay aggressive.

A Perfect Digital Strategy: Flexibility Meets Stability

Whether you are a start-up or an established player – one thing is sure. You need to digitally integrate and support every element of your backend operation that includes planning, supply chain, logistics, finance and procurement to enjoy the benefit of digital transformation services. Choose a digital core that is standardised, scalable and open. It should be an ideal mix of flexibility and stability so that you can cater to your customer needs without compromising on innovation and continually improve your deliverables.

The Four Pillars of Agile Retail

The success of digital transformation largely depends on how efficiently you fortify the four pillars of agile retail. Make sure you:

  • Collaborate across functions by breaking down silos. Create an environment where all your back-end verticals work as a team.
  • Always take a customer-centric approach where the decisions are driven by data collected from customer trends.
  • Constantly respond to change and remain dynamic. There is no merit in following a rigid plan.
  • Invest in working software rather than wasting time on comprehensive documentation.

Digital Transformation: Simplifying Retail Operation

Every agile retail organisation relies on a back-end operation that is driven by technology. Automation at every stage enables intelligent decision-making and timely adjustments. This gives the retailers an edge by creating unique and differentiated customer proposition. It also helps them expand product lines, introduce new services and personalise customer experiences.

To get down to specifics, here is how digital transformation impacts retail and its agility.

  • Breaking the Chain of Traditional Supply

It is not difficult to measure digital transformation in the supply chain of retail business. The way Digital Supply Network (DSN) is helping retailers reduce the traditional barriers of time and space is incredible. DSN is bringing transparency in operation and offering them new revenue opportunities. Its unique characteristics like always-on-agility, connected community and intelligent optimization support businesses to make informed decisions.

  • Giving New Direction to Logistics

Proper use of digital adoption strategy in logistics can drastically change the dynamics of your retail business. E-commerce is offering a level playing ground for small retailers to compete with the giants. Big data is facilitating a holistic understanding of the exact location of stock items. Robotic stock picking is empowering workers to maximise space availability. Warehouse automation will continue to improve efficiency and is all set to become popular in the near future.

Internet of Things is enabling retail giants like Unilever and P&G to reduce inventories and lower delivery costs. Amazon is effectively automating delivery methods by using drone-based deliveries. Similarly, Chinese e-tailer LightInTheBox is directly delivering to customers across the globe using digitally enabled logistics services.

  • Adding Value to Finance Functions

Digital finance is bringing a paradigm shift in the finance ecosystem by utilising disruptive technology, innovation, data and people. Be it automating repetitive finance processes through Robotic Process Automation, implementing Natural Language Processing (NLG) for efficient financial planning and business reporting or introducing Blockchain technology to eliminate intermediaries – digital   transformation can make your finance transparent and efficient.

  • Enabling Seamless Procurement with Digital Insights

Digital adoption strategy is already showing results in procurement and vendor management. Digital procurement solutions are providing retailers with useful data and better insights to frame supplier strategies. As a result, you can automate your transactional procurement, predict your strategic sourcing and establish a proactive relationship with your suppliers. Blockchain-based solutions are streamlining processes and making real-time vendor payment possible. Retailers are partnering with brands to design virtual showrooms using Virtual Reality (VR).

  • Removing Order Gaps through Accurate Predictions

Digital transformation is bringing accuracy to assortment-mix and planning process. It can answer specific questions like What is the right merchandise to hold? Or What is the right time for a product launch? You can seamlessly forecast transactions and plan your product mix correctly.

Tesco has successfully used predictive analytics tools to forecast the seasonal demand for ice-creams and manage orders in each of its stores. RFID chips allow Zara to instantly replenish the stock in its showrooms.

CONCLUSION

The impact of Digital Transformation in retail is immense. It can enhance your product experience, optimize operation and maximize revenue. However, the best way to measure digital transformation is to check out the smiles on your customer’s face. Only a reliable partner can show you the way with the right technology solution.

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2020 © Copyright InfoVision. All rights Reserved.

Retail Ecosystem – Collaboration in the Digital Age
Retail Ecosystem – Collaboration in the Digital Age Raju G

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Retail Ecosystem – Collaboration in the Digital Age

The retail ecosystem is an agile and ever-changing one where it follows the fickle-minded customer. A customer who is easily distracted by the trends and wants to live in the moment, desiring instant gratification.

While consumers today increasingly want to minimize the time taken in making purchase decisions, the retailers at the same time want to minimize the cost spent on supply-chain, logistics, and operations. Digital transformation helps to sustain retail businesses and adapt to this change by making collaborations between internal teams and the customers possible.

As a result we have teams that are making use of cloud solutions to be connected at all times. They share data between themselves, allowing the teams to analyze and react in real-time. Reports start becoming more relevant and precise.

Ability to collaborate with the customer also has never been so easy. The customers can now have a seamless and omni-channel experience, allowing them to always stay engaged with the brand. Similarly, brands can follow the behavioral changes that their customers are going through and adapt accordingly.  

Retail Ecosystem – Leveraging the Power of Process Automation

As digital transformation in retail disrupts the industry, it is also providing a level playing field for all by creating ecosystems. Retail ecosystems redefine consumer expectations and reshape retail value chains. An ecosystem is the art of clubbing various consumer services in a single platform or app. It can offer varied services such as e-commerce, chat, streaming, gaming, booking services, or payments, and has the potential to attract a huge customer base. This, in turn, becomes an attractive database for retailers to analyze critical consumer data in a competitive market.

However, the success of the ecosystem is not merely its catalogue of services and the efficiencies of scale that it offers. An ecosystem needs to appropriately leverage the power of automation. RPA in retail sector, as part of an ecosystem gives the retailers access to customer data analytics, extensive logistics networks and cloud services. It provides the capacity to launch new services and in new geographies.

Sales Automation

Multiple studies done with CPG companies have shown that almost 1/3rd of the sales processes can be automated. Most of the tasks performed by a sales executive are repetitive and can be freed up to meet with clients and market products. An efficient ecosystem can automate some of the processes like auto-assign visits based on priority, assign/re-assign optimized routes based on real-time traffic feedback, cancel visits to locations where orders can be auto-fulfilled, etc.  This leads to focused visits and better outcomes.

Similarly, advanced devices integrated with the ecosystem can capture and process images using artificial intelligence and minimize the need for retail and CPG sales executives to manually walk the aisles checking for brand trade promotion compliances. Furthermore, these can be done remotely, thereby freeing up the executive to discuss products and potential new clients.

Marketing Automation

The amount of data generated by the sales team is huge and is almost impossible to be analyzed and curated manually. This data processing and analysis when done in real-time allows marketing teams to personalize and curate campaigns that resonate with the mood of the customer. Automated analyses also provide a view on the efficacy of the marketing campaigns by using historical trends and capturing the pulse from the social channels in real-time.

Forecasting Automation

An extremely critical activity for manufacturers is their ability to forecast the demand to plan their production lines. The effectiveness depends on their ability to rightly categorize their products and consequently order, pre-order the parts/ products with their vendors. This is an area where automation is key and can help achieve very high accuracy when backed by a robust retail ecosystem.

Back Office Automation

Some of the easiest and quickest areas of automation which many retailers have already adopted are the back-office operations. Retail ecosystems that have effectively integrated robotic process automation can have streamlined processes for a variety of tasks. Managing orders from different sources and processing their invoices with accuracy and speed is one example. Similarly, exception handling in cases of errors, notifying vendors and reprocessing their orders can also be handled by process automation.

Contact Center Automation

Many digitally mature retailers have introduced automation in customer engagement while ensuring the human touch. Most of the interactions at the contact center are repetitive and can be handled by a bot powered by artificial intelligence. They are now adept to process text or audio as you write and speak and provide resolutions. This has greatly improved the speed at which queries are resolved, and if there are subsequent tasks to be performed, they are getting automatically assigned to the right teams. The contact centers are now becoming more efficient at processing and analyzing data they receive and can focus on understanding their customers better.

Before retailers invest in digital transformation or put together retail ecosystems, they will do well to engage digital transformation advisory services that they can trust. Such an advisory service will help them implement a digital strategy that encompasses the entire organization and not just a point-in-time initiative.

CONCLUSION

Change is the only constant and is at the core of retailers’ success strategy. A cultural shift is required for retailers to embrace agility and be in relentless pursuit to serve unmet customer needs.

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InfoVision is a Global IT Services and Solutions company offering Strategic Resources, Enterprise Applications and Technology Solutions. InfoVision’s specialized Technology Solution offerings include Mobility, Outsourced Product Development, Business Intelligence and Big Data Analytics, DevOps, IoT, Testing Services and Cloud Services. InfoVision’s Integrated Value Delivery capability is the combination of proven talent, technical depth, delivery discipline and domain expertise.

2020 © Copyright InfoVision. All rights Reserved.

Rapid Rise of Retail Cloud Computing
Rapid Rise of Retail Cloud Computing Raju G

Great People. Amazing Tours. Beautiful Paris.

Rapid Rise of Retail Cloud Computing

In the modern retail ecosystem where the consumer is in control of the marketing channels, cloud based contact center can offer your retail business a solution to connect to the consumers across multiple touch points. Cloud based service offerings can not only enhance omnichannel experience, but also streamline data flow and optimize your computing operations.    

Efficient and Transparent Retail Operation

Cloud computing in retail allows retailers to manage, store, and analyse data through a server hosted over the internet. As more and more enterprise applications move to the cloud, it can be safely said that cloud computing is quietly transforming the retail ecosystem. The industry is becoming more competitive every day. Retailers are realising the need to expand their reach by opening multiple stores. They have to rely more on real-time insights to manage supply chains. Cloud computing services can reduce cost, improve efficiency and enhance customer experience.

Key Drivers of Cloud Computing in Retail

The accelerated implementation of cloud computing in retail is attributed to several factors: 

  • Faster Implementation of Functionality: Time is money in retail. IT team has realised the importance of speed in deploying a new e-commerce solution or a web-based planning tool. Cloud computing can bring down the time of implementing a new technology from years to months.
  • Reduced Operating Model Cost: Controlling IT budget is critical for retailers. Cloud computing helps them to pace up the new IT initiatives without compromising on operating model cost.
  • Scalable across Multiple Locations: As mobile commerce becomes more popular; brick and mortar retail stores need to build a robust IT infrastructure. Cloud computing is a better alternative than expensive traditional software models to scale up their IT assets across multiple locations.
  • Operating Budget Vs Capital Spending: In this challenging time, cloud computing models can significantly turn a company’s capital expenditure (Capex) into operating budget expenditures.

Cloud Based Services Offer Insightful Data for Future Growth

Data is an effective tool for retailers to track consumer journey across multiple channels. It can answer many impending questions about consumer behaviour like buying pattern, seasonal demand, new trends etc. Cloud computing in retail can help businesses of all sizes to store huge amount of data, analyse it at every touch point and take insightful decisions. It facilitates free flow of information throughout the organisation and gives them a roadmap to make winning strategies for the future.

Higher Visibility for Better Monitoring of Supply Chain

The impact of cloud computing on supply chain management is one reason of its rapid rise in the retail sector. Cloud based contact center connects every part of the business and gives retailers higher visibility to monitor their supply chain across the enterprise. It captures real-time location data on inventory to prevent stock-out and maintain optimized inventory levels. Cloud migration also makes it easy for retailers to manage consignment details, digital documents and brokers.

Systematic Approach for Reduced Overhead Costs

Technology is the mainstay for growth of the retail industry. Cloud service offering makes sure that this growth does not come at the expense of overhead cost. Cloud migration is a systematic approach that gives retailers the flexibility to store data and choose plans according to their need. It mitigates the risk of high initial investment while helping them to achieve the same level of efficiency.

Unified Computing System for Transparent Operation

The emergence of omnichannel retail has made it imperative for enterprises to integrate operations for transparent functioning of their business. Working in silos can be detrimental to growth. Cloud based contact center can break the silos and unify the different components.

Advanced Analytics for Personalized Product

Every customer has a unique set of expectations. Cloud analytics for MSP are important because they offer retailers real-time access to customer data. Analytics make it possible for a store associate to instantly refer to the sales history of a customer and personalise the recommendations & offers. This can be helpful in an omnichannel retail model where the customer journeys are fragmented across different channels.    

Dependable Technology for Enhanced Security

Security and reliability are two important parameters that retailers consider before switching to a new technology. Compromising on data security is never an option for them. They always insist on investing in IT infrastructure that is dependable. Cloud stored data is generally considered to be safer than data stored on own servers. Moreover, the cloud analytics MSPs follow highest level of security like preventive & detective control and back-up procedures that makes it reliable. Therefore it is surely the right IT infrastructure for regulatory compliance.

Compatible Platform for Faster Innovation

The biggest advantage of a cloud computing platform is its ability to respond to the ever-evolving needs of the business. It lets retail businesses innovate faster by minimizing the time they spend on procurement planning, capacity expansion and budget approval for capital expenditure which normally takes more time to execute in a self-hosted server.

CONCLUSION

There are many reasons why retailers are embracing cloud computing. While it gears up the enterprise to meet the challenges of a customer-centric retail system, it also reinforces the backbone of operation. Cloud migration can connect you to new opportunities and expand your retail business. It is a wise investment for the future of a retail enterprise. InfoVision’s technical staffing services can help your enterprise applications move to the cloud effortlessly.

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InfoVision is a Global IT Services and Solutions company offering Strategic Resources, Enterprise Applications and Technology Solutions. InfoVision’s specialized Technology Solution offerings include Mobility, Outsourced Product Development, Business Intelligence and Big Data Analytics, DevOps, IoT, Testing Services and Cloud Services. InfoVision’s Integrated Value Delivery capability is the combination of proven talent, technical depth, delivery discipline and domain expertise.

2020 © Copyright InfoVision. All rights Reserved.

The Future of Cloud Computing Solutions in Retail Business
The Future of Cloud Computing Solutions in Retail Business Raju G

The Future of Cloud Computing Solutions in Retail Business

In today’s digital world where even the best of retail businesses can’t function without the adoption of technology, cloud computing in retail industry is a powerful tool to realize your future business goals. As a retailer, it is important for you to recognize the fact that you can no longer focus only on improving products and services. Your organization needs to also invest on technology to connect with its customers and read the pulse of their changing behavior. Cloud computing in retail offers you a feasible and cost-effective solution to strategize, plan and execute your future course of action.

It is no coincidence that cloud computing service providers are experiencing a steady increase in demand from the retail industry. But this growth is just the tip of the iceberg. Gartner has forecasted that 90%* of the organizations will be using cloud services by the year 2022. If you are planning to migrate to cloud, but are not able to decide whether it is the right platform for your business, it is high time you learn about the impact of cloud computing on retail business.

Making Anywhere, Anytime Inventory Management Possible

Cloud computing in retail gives companies a wide visibility of their stocks. It automates the supply chain and empowers retailers to manage inventory from anywhere, anytime. Cloud solution helps them overcome the fear of stock shortage by offering them access to real-time data, cloud architecture and analytics platforms. This is particularly effective for retail companies who have to manage multiple stores in different locations. As more and more retailers face the challenge of expanding their reach, cloud migration can help them check and monitor stock, accurately predict demand and optimize inventory cost.

Ensuring Superior Data Security

Retail enterprises collect a lot of sensitive data related to inventory, sales and customers every day. It is crucial for them to manage and store the data securely. Cloud computing in retail industry offers superior safety nets like advance firewalls, encryption, internal firewalls and event logging which local servers can’t. Cloud contact center security handles data with utmost care and prevents incidences like network infiltration, Ransomware and DDoS attacks. With data threats becoming more widespread, retailers need to migrate to cloud to avail up-to-date data security that can guard them from future risks.

Increasing Return On Investment

Cloud driven enterprise mobility solution is not capital-intensive. Like any other B2C business, retailers need to deal with a larger audience base and maintain an IT infrastructure for regulatory compliance. Cloud computing is a great option for them to attain the desired flexibility and scalability to optimize their Return On Investment (ROI). It adds efficiency to operations and contributes to the bottom line of the company. As competition rises in the retail market, cloud computing is all set to emerge as the preferred technology for retail business.

Enhancing Customer Experience

Customer experience is central to the success of a retail store. A happy customer leads to repeat footfall and referrals. Retailers can streamline their operations by adopting cloud computing in their store. Shifting to cloud-based POS systems can facilitate faster and hassle-free check-outs. In a world where customers have less time at their disposal, retailers are more likely to embrace a technology that reduces transaction time and enhances the customer experience.

Accelerating Decision Making

Obtaining data is of no use to enterprises unless they can utilize them fully. The high-power computing resource and statistical models offered by cloud computing service providers can enable faster decision-making. Retailers can judge the consumer behavior by depending on the tools made available by cloud analytics MSPs and then base their marketing strategy accordingly. They can then store the same data in the cloud and adjust the price, offer a discount or recommend a product to customers by constantly studying their buying pattern. The ability to add precision to the marketing strategy is making cloud computing a trusted choice amongst retailers.

Assuring Faster Disaster Recovery

Cloud disaster recovery model helps retailers to store data, take back-up and retrieve data remotely. As the entire process is automated, retailers save precious time in protecting valuable data during emergency. Another advantage of using cloud computing in retail is that it does not require constant maintenance and support. Therefore, it is a scalable, cost-effective and reliable platform that can safeguard retailers from disasters.

Conclusion

There is no doubt that the future belongs to cloud computing. The successful migration of retail companies like Amazon, StockX and Walgreens to cloud computing proves that it is here to stay. The way it can revolutionize your retail business is unimaginable. It is not just cost-efficient and flexible to adopt, but also reliable and safe to use. The technical staffing service of Infovision can help you make a swift transition to cloud driven enterprise mobility solution.

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InfoVision is a Global IT Services and Solutions company offering Strategic Resources, Enterprise Applications and Technology Solutions. InfoVision’s specialized Technology Solution offerings include Mobility, Outsourced Product Development, Business Intelligence and Big Data Analytics, DevOps, IoT, Testing Services and Cloud Services. InfoVision’s Integrated Value Delivery capability is the combination of proven talent, technical depth, delivery discipline and domain expertise.

2020 © Copyright InfoVision. All rights Reserved.

Improving CRM Practices with Salesforce IoT Cloud
Improving CRM Practices with Salesforce IoT Cloud Raju G

Improving CRM Practices with Salesforce IoT Cloud

Those who wonder why Salesforce implementation services are so sought after, all they need to do is reflect upon the very nature of businesses. The only thing in business that has not changed over time is the customer. No matter what the business maybe about, it would amount to nothing if a customer is not convinced to make a purchase.

However in the last few years we have seen the evolution of commerce. From being essentially local comprising of face to face interactions, commerce is now global whose primary deterrents could be loss of network or mobile connectivity.

Today people and objects are connected to the internet to access information, communicate with other people and to do business. As a result of which the concept of IoT (Internet of Things) evolved. IoT is the technology which connects people and devices in order to make life easier.

As IoT is evolving from buzz word to best practices, businesses are looking to generate value from the huge amount of data that is being generated as a result. To that end, customer relationship management can be improved drastically using a platform such as Salesforce to integrate IoT.

Salesforce Implementation – An Important Step for Every Business

A customer relation management(CRM) system often refers to a web application or a particular software which helps the organisation focus on individual customers. Salesforce is one such relationship management service which also sells a suite of complementary suite of enterprise application support focused on customer service. Salesforce is one of the largest and most popular cloud platform providers in the world. It offers its CRM solutions through various platforms such as

  • Sales Cloud: Incorporates marketing, sales, customer service and business analytics into a single platform
  • Service Cloud: Helps companies that sell services and/or products. Features such as call centre, email and chat, google search, contracts and entitlements can be used. Salesforce Media services is one of the more popular services under this.
  • Marketing Cloud: The marketing cloud incorporates integrated solutions for customer journey management, email, mobile web personalization, content management and so on. A simple search for marketing cloud case studies can reveal how beneficial this is proving for organizations who have gone for Salesforce implementation.
  • IoT Cloud: A sophisticated platform for storing and processing IoT data.

There are others as well like Commerce Cloud, Community Cloud, Analytics Cloud and App Cloud. A CRM platform helps companies target different audiences and can be used across departments to ensure that all customer facing teams are empowered with the right data to create the best possible customer experience.

Evolution of Salesforce IoT Cloud

As mentioned earlier, Salesforce IoT cloud  provides a platform to store and process data. Salesforce consulting firms have been laser focused on finding new ways of combining device data and customer data which empowers organisations to build a completely customer centric business.

The Salesforce IoT cloud captures customer data everywhere today, be it human interaction or sensors or devices or website engagements, or email history, mobile events and so on. This kind of data is a treasure trove of information for a business to work on for better customer engagement. On the other hand, security is a top technical concern for organisations that deploy IoT systems. This is because companies have almost no control over the sources and nature of hardware and software utilized in their IoT networks. Many connected devices have little or no cybersecurity protection. However Salesforce IoT helps to build an IT infrastructure with regulatory compliance by utilizing access tokens for secure access.

CRM Practices Benefit with Salesforce IoT Cloud Implementation

Salesforce integration with IoT devices enables businesses to keep customer data updated and address their growing expectations in the following ways:

  •  No Code Approach

Salesforce IoT Cloud allows business associates to carry out their IoT processes without much IT knowledge.  This reduces cost and enables organisations to test business ideas more readily.

  • Enhanced Data Analytics

Salesforce uses Einstein Analytics, a business analytics software built in the cloud to enhance cloud processing. Einstein Analytics enables users to build and customise their own analytics apps using prebuilt components. The importance of managed IT infrastructure helps to achieve this in an organised manner.

  • Improved Customer Acquisition

Today the impact of cloud computing on retail business is undeniable. This is evident from the  fact that every product connected to the cloud, enables the sales team to access information about every single product.  Based on this the sales team can analyze the data to predict customer behaviour and requirements.

 While benefits vary by department or industry, 6 benefits that help every user are

  • Trustworthy reporting
  • Dashboards that showcase data
  • Improved messaging with automation
  • Proactive service
  • Efficiency enhanced by automation
  • Simplified collaboration

Harnessing the full potential of Salesforce IoT Cloud requires a focused approach to it. Managed service providers  are Salesforce consulting firms, with technical staffing services  that help with extensive CRM services. The Salesforce implementation consultants will help the organisation to explore options, research data, offer recommendations, begin development and implementation and provide support.  Salesforce implementation services include support right from installation till thereafter ironing out several changes on the path to achieving optimal business growth.

IoT has the potential of taking customer satisfaction to a much higher level than that which exists. Service based on actionable IoT insights empowers an organisation to be able to look into the future with respect to customers needs. Utilizing IoT and CRM brings forth innovative ways of connecting with customers. Salesforce is already ahead of the competition in adopting IoT technology.  The commitment to digital transformation by the CRM vendor, Salesforce, is obvious with the Salesforce IoT platform. The Salesforce implementation services will ensure the integration into the business needs of the company.

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7 Things the Salesforce IoT Cloud Can Do
7 Things the Salesforce IoT Cloud Can Do Raju G

7 things the Salesforce IoT Cloud can do for you

Salesforce IoT Cloud – the IoT service by Salesforce helps businesses deal with big data gathered through various operations, locations, and connected devices. Its proactive approach aids in developing a relationship with customers thus improving customer interaction and retention. It provides insights on how to reshape organizations to conduct business more fruitfully. Salesforce cloud services helps companies maintain the big data generated through customer interactions use it in meaningful ways.

  1. Connected Customer Profiles

Cloud migration is almost a necessity for  businesses to have a winning edge in today’s competitive world. Salesforce IoT Cloud is one such platform that businesses can use to create complete customer profiles. The data from customers’ connected devices can then be used to improve customer management. Control apps used in IoT Cloud platform send service notifications to cater to demands of the business. Sensors receive real-time data and transmit the same to keep the customer profiles updated.

  1. Customer Context

For a business to grow, it needs the right data that will help it stay ahead of its rivals. Salesforce IoT ensures providing the customers with adequate information, predictions, and analysis to conduct the right operations. Customer Context stores and analyzes past behaviors and actions that play a vital role during real-time decision making. The Customer Context takes into consideration customer location, customer history, service history, and technical staffing services and combines it with IoT device data to suggest the next plan of action.

Salesforce Thunder

Thunder, the event-processing engine in Salesforce, helps in capturing, filtering and responding to the events occurring real-time and even perform database management and data analytics. It enables users to set filters to identify relevant data from data streams. Thunder streamlines the accumulated data to make it usable for analysis and machine learning.

  1. No Code Platform

Salesforce IoT Cloud platform applies a low code approach. It allows businesses to carry out their day-to-day IoT activities without any direct interaction with the IT department. Salesforce IoT Cloud is capable of taking care of the bulk of processes after the right triggers and responses are put in place. These triggers and responses send the IoT device data to Salesforce core systems such as Service Cloud, Marketing Cloud, and other platforms. Furthermore, it automatically creates an action item. Salesforce cloud services can automatically create a Lead form for a customer whose product is about to fail.

  1. Identify Prospects

With Salesforce IoT Cloud where each product is connected to the Cloud, the sales team can identify items that are outdated and nearing a warranty time limit. The team is also aware of the items that need to receive a new update or the ones that are performing below the required standard. Data analyzed by Salesforce cloud services also help create custom offers and send them to customers before a warranty deadline. As a result, Salesforce IoT Cloud helps in improving customer acquisition and retention through a completely automated process.

Set Rules to Check Product Performance

Organizations need to set a rule based on performance metrics to benefit from cloud computing in retail. Whenever a product performs below a metric, an automatic entry is made to the Sales and Customer Support teams. The respective team can then analyze and predict customer behavior and customer needs and do the needful.

  1. Data analytics

Across the CRM, customized actions can be taken based on the data analysis obtained from managed services provider. A critical step here is to process data collected from enterprise systems, external data, website logs, and sensors available on IoT devices. Salesforce IoT Cloud produces visualization reports, predictions, trends, and patterns.

Salesforce Einstein Analytics

Salesforce uses Einstein Analytics to enhance data processing. It helps CRM users work with sensor data, relevant ERP records, website logs and other relevant channels. Impact of cloud computing on retail business can be humongous. With all this data, CRM users get an in-depth picture of how the products and services are used, and can accordingly predict trends.

  1. Seamless Integration with Other Applications

Salesforce IoT Cloud is a complete package in itself and can be used as a standalone service for data storing and processing. However, it can also be integrated with other Salesforce products or third-party systems such as enterprise application support used by the company. The unified integration ensures steady flow of useful data from sources and between versatile enterprise systems.

  1. Salesforce IoT Cloud and AWS

Several organizations use both Amazon Web Services and Salesforce for effective IoT solutions as they understand the importance of managed IT infrastructure. In this arrangement, AWS IoT Device Management receives information generated through connected devices. The data is organized in AWS and AWS IoT. An AWS IoT connector connects this data to Salesforce IoT Cloud. The data is sent to the respective platform such as Salesforce Customer Success Platform, third-party CRMs, or other output devices through Salesforce IoT Cloud. Based on the data analysis result, customized actions can then be taken across the CRM.

Conclusion

Salesforce IoT Cloud is a huge platform for businesses irrespective of their verticals to respond to the changing customer needs and their proactive approach to solving customer issues. The IoT cloud platform is the future for businesses to provide the much-needed support to their customers.

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InfoVision is a Global IT Services and Solutions company offering Strategic Resources, Enterprise Applications and Technology Solutions. InfoVision’s specialized Technology Solution offerings include Mobility, Outsourced Product Development, Business Intelligence and Big Data Analytics, DevOps, IoT, Testing Services and Cloud Services. InfoVision’s Integrated Value Delivery capability is the combination of proven talent, technical depth, delivery discipline and domain expertise.

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How To Integrate Salesforce and SAP With Best Practices
How To Integrate Salesforce and SAP With Best Practices Raju G

How to Integrate Salesforce and SAP with Best Practices

A salesforce and SAP Integration seems to be the way forward in achieving better brand value and profits for the organization. Salesforce is a cloud based customer relationship management software solution for sales, service, marketing, analytics and building customized applications. SAP on the other hand stands for Systems, Applications and Products in Data Processing that assist enterprise software to manage both their business operations and customer relations. A salesforce SAP integration brings in the possibility of better customer service leading to enhanced business profits.

Businesses embracing both a salesforce to manage front end information about their customers and SAP on the backend have a unique advantage in managing and tracking customer relationships.  Organizations that integrate the two gain added business function through enhanced productivity and insights that create new value. This in turn enhances customer interaction.

Benefits of Salesforce SAP Integration

The advantages of integrating Salesforce and SAP are plenty.

  • Effective data management with business intelligence capabilities
  • Improved invoice creation
  • Real time error management
  • Processing of orders in real time for optimal outcomes
  • Accelerated cash flow
  • Maximizing ROI (Return on Investment)

However despite their prevalence, getting the Salesforce SAP integration right is a challenge many organizations face. Both are complex solutions built to be proprietary, standalone offerings that are not designed to work with another software. SAP is built as a back end solution and many of its offerings were created much before the age of cloud computing in retail business. In contrast Salesforce is a cloud pioneer and created for front end use.

Mapping out an organization’s processes would be the best place to start with when Salesforce and SAP integration is being considered. Approaching integration through the lens of a process rather than simple data mapping or end to end connectivity will make the business more scalable and efficient. The rapid adoption of cloud technology is impacting how enterprise application support is developed and implemented to assist in the same.

Salesforce SAP Integration Challenges

 Integration requires the right approach and the right enabling technologies. Technical issues could include adapters and interfaces, communications, semantic mediation, format conversion, security and the core approach to be taken.  Some of the challenges commonly encountered are

  • SAP is an on premise software whereas Salesforce is a cloud solution
  • Synchronizing and contact data from SAP to Salesforce
  • Salesforce users generate quotes using products and price book information that need to be linked with corresponding opportunities in SAP. Whereas product and pricing information in SAP need to be synchronized with Salesforce.
  • The need to process opportunities in Salesforce till order and execution in SAP also need to be considered.
  • Relevant data such as related order history and current financial status need to be accessible in real time for the Salesforce user.

There are several options to achieve optimal integration and the idea is to leverage the best approach for the organization’s integration requirements. The importance of managed IT infrastructure is enhanced during such important operations, a point that every organization must make note of.

Step-by-Step Process of SAP and Salesforce Integration

The main steps for integration of SAP and Salesforce are as follows

  • Login to Salesforce Development Account
  • Go to setup option and type API in the Quick Find box
  • Download the required WSDL file
  • Use the Salesforce WSDL to create the required SOAP project
  • Create WSDL/XSD with the help of the following steps
  • Create an upsert request using SOAPui
  • Subsequently create XSD for that request using external tools
  • By importing the external definition, that was created in the previous step, create another ESR object
  • Message map by creating SOAP requests
  • Next an API lookup code is needed for session ID and server URL
  • Thereafter an ID configuration is needed
  • In order to do that first create 2 ICOs by getting data from ECC then sending it to Salesforce

Infovision with their cloud migration expertise and as a managed service provider with their technical staffing services is a trusted partner for achieving  Salesforce SAP integration.

Conclusion

The aim of every company is to earn revenue. Integrating Salesforce to SAP is an essential step towards this since there is a central need to bring these frameworks together in order to meet the prerequisites of the business.

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7 Myths of Cloud Computing
7 Myths of Cloud Computing Raju G

7 Myths of Cloud Computing

The usage of cloud technology is increasing and so are the cloud computing myths. When first introduced, misconceptions about new technologies are common and cloud computing is no different. Although being cautious and approaching emerging technologies with some skepticism may not be very wrong, it is vital to separate the myth from reality. Most of the cloud computing discussions are filled with misinformation leaving doubts about the functioning and benefits of cloud computing.

Being fully aware of the advantages and issues to look out for of the cloud-based model puts a company in a better position to reap in the benefits of cloud computing.

Top 7 Cloud Computing Myths

Cloud Computing is a Costly Affair

Moving to the cloud may not initially save money. However, in the long run it is designed to reduce the overall IT spend. The cost incurred to move operations to the cloud depends on factors such as the amount of data to be stored, the number of users availing the service, and the scale  of enterprise application support and backup needed. The good thing is, cloud providers build the cost of security and maintenance into their service.

Where do you save?

Most cloud providers use a subscription model. Firms pay only for what they use. The cloud is capable to scale to the needs of the business quickly. Companies do not have to spend on servers that they require at a later stage. As usage decreases, so does the cost of cloud computing. Firms do not need staff for on-premises hardware updates and maintenance. Thus, the total cost of ownership reduces.

You Lose Control over Your Data on Cloud

If there is anything you lose control of, it is not of your data but of the liability of maintaining a physical server. After cloud migration, you will not be required to swap hard drives or install extra RAM as your business scales. Control of the data is still with the business as they regulate who and how users access the data and how efficiently the data can be used in work processes.

Chances of Cyber Attack Increases in Cloud Computing

Is cloud computing secure or not? Is this one of your worries? Like any other technology, cloud computing is vulnerable to cyber threats, data breaches, and DDoS attacks. However, businesses should be assured of their data privacy. Cloud providers have security measures such as encryption and sophisticated firewalls in place to fend off most attacks. Managed services provider will encrypt all data, both in transit and rest. Furthermore, they connect to the cloud via dedicated private lines, instead of the public internet thus strengthening the security aspect. Thus, when in the cloud, firms and their cloud provider share the security responsibility by following the best cyber security practices at their respective ends.

Migration to Cloud is Quick and Easy

Migration to cloud is relatively straight forward. However, moving to the clouds without the right groundwork, blueprint, and cloud strategy is risky. It is important to build a cloud-ready foundation before the actual migration. The best cloud transition strategy includes descriptions of guiding principles, required skills, organizational changes needed, oversight responsibilities, and the technology architecture that facilitates efficient transition and successful operation.

Cloud Migration is All About Unaffected IT Infrastructure and Minimal Impact

Cloud computing is almost like a major platform shift. It changes application capabilities with respect to agility, functionality, scalability, and cost. Failing to commit to cloud computing risks maintaining outmoded IT practices, placing the enterprise at a competitive disadvantage. The impact of cloud computing on retail business is immense. Retailers who lag behind in adopting cloud technology fail to compete with faster productivity and competitive pricing of their rivals who are powered by cloud computing. As a result, most are out of the business shortly after.

Cloud Computing is an Answer to All Business Processes

One of the most pervasive myths of cloud computing is that it is the way ahead for all processes of a business. On the contrary, unless there are cost savings on the agenda, moving a legacy application that doesn’t change much doesn’t need migration to a cloud-based model. Cloud computing fits best where there is a need for flexibility and the business has the ability to pay for only what is needed and when. Worth noting, every business can benefit from the public cloud, but most businesses need a hybrid combination of public, private, and dedicated infrastructure.

Moving to Cloud is End of the Road

Cloud is an operating model and technology. Therefore, to achieve success with the cloud, conglomerates have to understand the importance of managed IT infrastructure and adapt their operating process to fully leverage cloud ideologies. Companies can go for different approaches of cloud computing. They can opt for re-hosting often via infrastructure as a service or get a complete changeover to an application implemented by a Software as a Service provider. Whatever path is undertaken, it is essential to understand the model and have realistic expectations.

What else you need in your plan?

Once the migration has been successfully obtained, the work has just begun. Ongoing cost and performance management has to be considered. Firms must include post-migration actions in their cloud implementation plan.

Once you decide that cloud computing is the way ahead for the firm’s further growth, research on the do’s and don’ts. Determine what type of cloud service is best for your company and go for a reputed company known for the best cyber practices that will serve you what you need.

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InfoVision is a Global IT Services and Solutions company offering Strategic Resources, Enterprise Applications and Technology Solutions. InfoVision’s specialized Technology Solution offerings include Mobility, Outsourced Product Development, Business Intelligence and Big Data Analytics, DevOps, IoT, Testing Services and Cloud Services. InfoVision’s Integrated Value Delivery capability is the combination of proven talent, technical depth, delivery discipline and domain expertise.

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