Increasing margins is critical to achieving sustained success in the retail industry.To maximize margins, leaders consider how to run the store more efficiently, how to deliver the best services to customers and how to grow new services. Traditionally, they have used rear-view mirror data to help accomplish these goals—that is, examining historical data from months prior and coming up with a plan. Today, retailers are relying more on proactive and contextual data in real-time. For instance, what are the online shopper’s preferences? Do they tend to buy button-down shirts and khakis or jeans an…
