A Study of Big Data Analytics in Retail Marketing
Authors: Mr. Karan Lotale
V.K Krishna Menon College, Bhandup (East)
Guide: Mrs. Hiral Joshi
Assistant Professor, V.K Krishna Menon College, Bhandup (East)
Abstract :
In the rapidly evolving landscape of retail, big data analytics has emerged as a transformative force, reshaping how businesses understand and engage with consumers. By leveraging massive volumes of structured and unstructured data generated from customer transactions, online behavior, social media interactions, and supply chain operations, retailers can gain deep insights into consumer preferences, market trends, and operational efficiencies. This paper explores the role of big data analytics in retail marketing, highlighting its impact on personalized marketing, customer segmentation, demand forecasting, and inventory management. Advanced analytical techniques such as machine learning, predictive analytics, and real-time data processing empower retailers to make data-driven decisions, enhance customer experiences, and improve return on investment (ROI). Despite the opportunities, challenges such as data privacy, integration complexity, and the need for skilled personnel remain significant. This study underscores the strategic importance of big data analytics as a competitive advantage in the retail sector and suggests pathways for its effective implementation.
Keywords : Big Data Analytics, Retail Marketing, Customer Segmentation, Predictive Analytics, Personalized Marketing, Consumer Behavior, Data-Driven Decision Making, Inventory Management, RealTime Analytics, Market Trends, Machine Learning, Data Privacy, Supply Chain Optimization, ROI (Return on Investment),Digital Transformation
