A growing number of consumers are discussing their retail & brand experiences online – leveraging a host of different social media platforms. 45 - 70% of consumers rely on social media before making a purchase decision. As a result, retailers are looking for ways to engage with their online audience, and monitor what they are saying about their particular brand. Retailers, today, want to listen and respond to people’s perceptions, both positive and negative. L&T Infotech’s (LTI) Sapphire addresses this need, and allows retailers to monitor, analyze and visualize the consumer’s sentiment.
Big Data Relevance
Social media applications generate a huge volume (petabytes, exabytes, etc.) of data. But, this data is generally unstructured, making it difficult to analyze. As the data size continues to increase, however, the cost of technologies that enable extraction of meaningful patterns from this data, continues to fall. This makes it easier for retailers to leverage the power of Big Data to provide differentiated competitive insights, thus predicting trends and bringing products faster to market.