Version 1
: Received: 24 July 2024 / Approved: 25 July 2024 / Online: 25 July 2024 (13:41:08 CEST)
How to cite:
Johnson, O.; Brown, W.; Wilson, G. The Role of Big Data Analytics in Retail Marketing and Supply Chain Optimization. Preprints2024, 2024072058. https://doi.org/10.20944/preprints202407.2058.v1
Johnson, O.; Brown, W.; Wilson, G. The Role of Big Data Analytics in Retail Marketing and Supply Chain Optimization. Preprints 2024, 2024072058. https://doi.org/10.20944/preprints202407.2058.v1
Johnson, O.; Brown, W.; Wilson, G. The Role of Big Data Analytics in Retail Marketing and Supply Chain Optimization. Preprints2024, 2024072058. https://doi.org/10.20944/preprints202407.2058.v1
APA Style
Johnson, O., Brown, W., & Wilson, G. (2024). The Role of Big Data Analytics in Retail Marketing and Supply Chain Optimization. Preprints. https://doi.org/10.20944/preprints202407.2058.v1
Chicago/Turabian Style
Johnson, O., William Brown and George Wilson. 2024 "The Role of Big Data Analytics in Retail Marketing and Supply Chain Optimization" Preprints. https://doi.org/10.20944/preprints202407.2058.v1
Abstract
This research explores the pivotal role of big data analytics in enhancing retail marketing and supply chain optimization. As the retail industry undergoes rapid digital transformation, big data analytics has emerged as a critical tool for gaining competitive advantage and improving operational efficiency. The study delves into the various applications of big data analytics, including customer segmentation, personalized marketing, demand forecasting, inventory management, dynamic pricing, and supply chain optimization. It highlights how retailers leverage data from diverse sources to gain insights into consumer behavior, market trends, and operational performance, leading to more informed decision-making. The findings underscore the significant benefits of big data analytics in enhancing customer experiences through targeted engagement and personalized service. Additionally, the research addresses the ethical considerations and challenges associated with data privacy, security, and potential biases in analytics models. It emphasizes the importance of maintaining high standards of data quality and ethical practices to ensure the responsible use of data. The conclusion reiterates the transformative impact of big data analytics in the retail sector, suggesting that while it offers substantial advantages, careful management of its challenges is crucial. The study provides valuable insights into how retailers can harness the power of big data analytics to drive growth, innovation, and long-term success in an increasingly competitive and data-driven market environment.
Keywords
Big data analytics, Retail marketing, Supply chain optimization, Customer segmentation, Demand forecasting, Personalized marketing, Ethical considerations
Subject
Business, Economics and Management, Business and Management
Copyright:
This is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
