Reflektion™, an innovator in retail predictive analytics, today announced Xpedition, an analytics workbench for e-Commerce retailers and national brands that delivers daily customer insights and sales forecasting at a more granular level than ever seen before in the industry.
Xpedition is designed specifically for e-Commerce business owners wanting to understand how key customer segments contribute to their businesses today and in the future. The challenge today for many retailers is that they have data about traffic sources, website navigation and product sales, but not a clear, consolidated view of their customers. They tend to rely on historical market studies or third-party demographic segments to define who is shopping and buying. With Xpedition, retailers and national brands can build customer segments and gain immediate insights about how those groups are behaving and responding to promotions, pricing and products.
A wide array of business intelligence tools serve the broad retail industry today, but no single tool offers a comprehensive and predictive view of customer behavior and performance. In fact, most are focused on just one of three layers – data collection, analytics or visualization – even though all layers are needed to provide actionable customer insights. Xpedition is different because it offers an all-in-one solution with prediction capabilities based on proprietary machine-learning algorithms. For retailers and brands with existing visualization tools or reporting system, analytics from Reflektion can be easily integrated into other systems via APIs.
Today’s customer insight solutions focus on marketing channel performance and product sales, but only have limited visibility into what customers are actually doing,” said Sean Moran, president and CEO of Reflektion. “Oftentimes, retailers and brands can’t analyze the volume of data about what visitors respond to and how purchasing actually occurs. With Xpedition, retailers and brands are able to look at and analyze their core customers so they can personalize and tailor the customer experience to increase revenue. There are so many applications of these insights, from more efficient marketing spending to better assortment planning and product launches.”
Xpedition efficiently processes large product, transaction, customer and social datasets using the latest Big Data technologies, helping brands build individual user models so they can deliver the best promotions and products for each customer. Xpedition also predicts customer behavior using machine learning to identify product trends and likely sales performance. By providing e-Commerce brands with predictions of where their businesses are going in the near term, Reflektion helps them achieve their business goals as e-Commerce continues to grow and change rapidly.
Xpedition allows businesses to define key customer segments or rely on the Reflektion Platform to derive customers segments, based on the latest data and sophisticated algorithms, important but often undiscovered by business managers. Daily dashboards provide a snapshot of results and forecasts for both user defined and statistically derived segments of the business.
Sign up for the free insideBIGDATA newsletter.