Tata Consultancy Services (TCS) has announced new software that will allow retailers to utilise data from in-store sensors or IoT devices to create personalised consumer engagement strategies.
The software, 'TCS Customer Intelligence & Insights for Retail', is available from the company's digital software and solutions group.
Seeta Hariharan, General Manager and head of the Digital Software & Solutions Group, noted that IoT is blurring the line between online and conventional retailing even further. She added that IoT is pushing marketers into reconstructing the customer journey across virtual as well as physical worlds. Retailers are moving away from broader marketing tactics to highly timed, relevant interactions made in the right context and to provide real value to customers. They are moving to build emotional connections at touch-points with consumers, in order to move beyond discounting.
Retailers are increasingly looking into IoT to support customised marketing campaigns and sale closures. A TCS Global Trend study on IoT found that half of retailers are using this technology to monitor their customer data through mobile apps, and another 27.9% are using IoT to track data through in-store sensors.
The new TCS software aims to provide data-driven real representations of consumers by using behaviour-based customer personas that are continuously refined and informed. It uses the company's proprietary machine learning technologies, including the Adaptive Analytics Engine (A2E) and statistical algorithms. These technologies are applied to customer transaction, social media, loyalty, channel interaction and demographic data.
The A2E technology improves the accuracy of personalised offers, promotions, actions and other brand engagement interactions.
TCS Customer Intelligence & Insights for Retail is available as an integrated solution bridging the gap between systems integrators and advertising and marketing tech niche products. It can be deployed in as short as 30 working days.
Interested in hearing industry leaders discuss subjects like this and sharing their IoT use-cases? Attend the IoT Tech Expo World Series events with upcoming shows in Silicon Valley, London and Amsterdam to learn more.