#450: Black Friday Special: Real-time Data & AI for In-store Retail Operations, with Joe Shasteen, RetailNext

We are presenting our 2nd annual Black Friday special episode, where we focus on an aspect of retail, looking back on the current year, as well as to what retailers should be keeping in mind for next year.

With the prevalence of online shopping and growing ecommerce providers, brick-and-mortar retailers require business intelligence tools dedicated to in-store analytics to stay competitive in an omnichannel world.

Today we’re going to talk about real-time data and AI for in-store retail operations.

To help me discuss this topic, I’d like to welcome Joe Shasteen, Global Manager, Advanced Analytics at RetailNext.

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SYNOPSIS

Real-time data analytics can empower employees to make better decisions and meet customer needs by providing a clear understanding of their preferences and behaviors. This enables retailers to adjust strategies and approach to deliver a personalized and tailored experience for each customer.

For instance, when a store experiences a high influx of customers, real-time data analytics can alert employees to crowded areas, allowing them to allocate additional staff members to manage queues and provide assistance. This ensures that customers do not have to wait for extended periods and receive prompt service.