Claims:We claim:
1) The system and method for targeted promotions in retail by using big data technology is comprising of the contents such as;
a. Any high definition smart computing device;
b. Any open-source framework like Hadoop for data analysis which stored data on big data; and
c. The web application of targeted promotions in retail
2) The system claimed in claim 1 wherein, test and quantify the impact of different promotional tactics on customer behaviour and conversion.
3) The system claimed in claim 1 wherein, retailer can use customer’s purchase and browsing history to identify needs and interest and then personalize promotions for customers.
4) The system claimed in claim 1 wherein, retailer can monitor customer purchasing behaviour and social media activity to rive timely offers to customers to insect online purchases with a specific retailer.
, Description:FIELD OF INVENTION
The present invention discloses the system and method for targeted promotions in retail by using big data technology. The invention is related to retail sector, in particular promotion of retail product. Big data is one of the best technologies which can be effectively used for retail industry.
BACKGROUND OF INVENTION
A sales promotion is a marketing tactic used by retailers to drive sales. It involves offering shoppers a deal that would enable then to either purchase a product for a lower price or get more value of the sale.
Sales promotions are short-term incentives to buy products. Marketing managers use sales promotions to stimulate buying and increase consumer interest in a product. Examples of promotions include discount sales, free samples, coupons, refund, prizes, display, demonstrations, contests and premium.
Promotion refers to the methods used by a business to make customers aware of its product. Advertising is just one of the means a business can use to create publicity.
To increase sales, attract new customers, and retain current customers, many retail stores implement various sales promotion techniques. Understanding how to effectively run and track retailer’s sales promotion campaigns are essential to increasing the effectively run and track sales promotion campaigns are essential to increasing the profits in store.
Promotion of anything and promotion to anyone is not the great idea. In both cases it takes time, money and effort of retailer. But as a result, it not gives expected result.
Currently, there is not a such system which can tell which promotion of product item is best to which customer, as it requires great analysis and information.
The present invention gives the solution for above problem.
The present invention discloses the system and method for targeted promotions in retail by using big data technology. Big data analytics in retail can provide numerous other insights regarding retailers. Targeted promotions analytics allows retailer to understand how customers act across all of retailer’s digital and non-digital channel and interaction points of promotions.
Big data analysis represents the ability to make data-driven decisions, based on a summary of relevant, trusted data, often using visualization in the form of graphs, charts and other means. Targeted promotions analytics typically generate massive amounts of data.
OBJECTS OF THE INVENTION
The main object of the invention is that, system and method for targeted promotions in retail by using big data technology.
Another object of the invention is that, test and quantify the impact of different promotional tactics on customer behaviour and conversion.
Another object of the invention is that, retailer can use a customer’s purchase and browsing history to identify needs and interest and then personalize promotions for customers.
Other object of the invention is that, monitor customer purchasing behaviour and social media activity to rive timely offers to customers to incest online purchases with a specific retailer.
SUMMARY OF THE INVENTION
The present invention discloses the system and method for targeted promotions in retail by using big data technology. The web application for targeted promotions in retail is created. Big data analysis provides data related to impact of different promotional tactics on customer behaviour and conversion. Also, it uses customer’s purchase and browsing history to identify needs and interest and then personalize promotions for customers. It will monitor customer purchasing behaviour and social media activity to drive timely offers to customers to incest online purchases with a specific retailer.
BRIEF DESCRIPTION OF DRAWINGS
Fig 1 shows flowchart of the system and method for this invention.
DETAILED DESCRIPTION OF THE INVENTION
The present invention discloses the system and method for targeted promotions in retail by using big data technology.
Big data is the vast volume of structured or unstructured data that is readily available at collective fingertips. These large data sets are analysed to reveal previously unknown patterns and provide insights into businesses, human behaviour, and more. Big data analysis is used for everything from financial services, to gauging someone’s productivity, to even monitoring the weather.
The key feature of big data is to analyse, understand and interpret it in order to give user a full a picture as possible about the targeted promotions in retail.
The system and method for targeted promotions in retail by using big data technology is comprising of the contents such as;
Any high definition smart computing device
The web application of targeted promotions in retail
Any open-source framework like Hadoop for data analysis which stored data on big data
Big data consists of five stages such as-
Data sources- web and social media, machines, Sensing, IoT
Content format – structured, semi-structured, unstructured data
Data stores – document oriented, column oriented, graph database, key value
Data Staging – cleaning, transform and normalization
Data processing – Batch and real time
The system and method for targeted promotions in retail by using big data technology is comprising of the following steps such as;
Step 1) The web application for targeted promotions in retail is created
Step 2) User/marketing team member open the web application
Step 3) Big data technology analyses information related to customer behaviour, preferences and previous purchases in retail sector
Step 4) User/marketing team member can see the information provided by big data technology
Step 5) User/marketing team member analyses the data to increases targeted promotions
The role of big data technology in invention application is as follows –
Big data analysis provides data related to impact of different promotional tactics on customer behaviour and conversion. Also, it uses customer’s purchase and browsing history to identify needs and interest and then personalize promotions for customers. It will monitor customer purchasing behaviour and social media activity to drive timely offers to customers to incest online purchases with a specific retailer.
The invention application has some advantages for the invented system, such as;
Retailers are able to understand their customer’s behaviour better and make future decisions on what will work best for their store. They know what the customer usually buys and are able to figure out what the customer will buy next time. So only particular item promotion will be done for particular customer.
Invention keep focus on personalize promotions for customers which saves time. Money and effort.
Invention monitor customer purchasing behaviour and social media activity to rive timely offers to customers to incest online purchases with a specific retailer.