Tata Consultancy Services (TCS) announced new software designed to help retailers to leverage insightful data from in-store sensors and other Internet of Things (IoT) devices.
The Indian IT major said the Customer Intelligence & Insights for Retail is available from TCS’ Digital Software & Solutions Group.
Retailers are increasingly using IoT technologies to boost customer loyalty through customized marketing campaigns.
According to the TCS Global Trend study on IoT, 50 percent of retailers are using IoT technologies to monitor customer data via mobile apps and 27.9 percent are using it to track data via sensors in physical locations such as stores.
“The Internet of Things is further blurring the line between traditional and online retailing, forcing marketers to reconstruct the customer’s journey with their brands across both physical and virtual worlds,” said Seeta Hariharan, general manager and group head, TCS Digital Software & Solutions.
“Retailers are moving from hit-or-miss marketing to highly relevant, timely interactions delivered in the right context. Their goal is creating binding emotional connections at every touch point with consumers to withstand the lure of discounting.”
The new software uses behavior based customer personas that are continuously informed and refined using proprietary machine learning technologies such as Adaptive Analytics Engine (A2E) and statistical algorithms, as well as demographic, social media, psychographic, customer transaction and loyalty data.