1 Darden School of Business, University of Virginia, Charlottesville, VA, USA.
2 The Ohio State University, Fisher College of Business, Columbus, OH, USA.
3 Jack Welch College of Business, Sacred Heart University, Fairfield, CT, USA.
4 Sahara Group, Lagos, Nigeria.
5 Fisher College of Business, The Ohio State University, Ohio, USA.
6 Quinnipiac University, Hamden, CT, USA.
Research Article
World Journal of Advanced Research and Reviews, 2024, 23(02), 880-889
Received on 30 June 2024; revised on 08 August 2024; accepted on 10 August 2024
The advent of real-time data analytics has revolutionized the eCommerce and retail sectors by providing unprecedented insights into customer behavior. This study investigates the integration of real-time data analytics to derive strategic customer insights, enabling retailers to enhance decision-making, improve customer experience, and drive growth. Using a mixed-methods approach, including quantitative data analysis and qualitative case studies, we explore the impact of real-time data on customer segmentation, personalization, inventory management, and marketing strategies. The findings highlight the potential of real-time analytics to transform retail operations and suggest practical implementations for maximizing its benefits. Real-time data analytics is critical for creating dynamic customer segments and tailoring personalized marketing campaigns that improve engagement and conversion rates. Additionally, optimizing inventory levels through real-time insights reduces stockouts and overstock situations, enhancing supply chain efficiency. The study also underscores the importance of immediate feedback for marketing strategies, allowing for real-time adjustments that maximize campaign effectiveness. Through case studies of leading retailers, we demonstrate the practical applications of real-time analytics in both online and brick-and-mortar settings. These insights can guide eCommerce and retail businesses in leveraging real-time data to achieve competitive advantage and operational excellence.
Real-Time Data Analytics; Customer Insights; eCommerce; Retail; Personalization; Inventory Management
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Olamide Raimat Amosu, Praveen Kumar, Adenike Fadina, Yewande Mariam Ogunsuji, Segun Oni and Kikelomo Adetula. Harnessing real-time data analytics for strategic customer insights in e-commerce and retail. World Journal of Advanced Research and Reviews, 2024, 23(2), 880-889. Article DOI: https://doi.org/10.30574/wjarr.2024.23.2.2407