Customer analytics investment provides exciting opportunities for the growth and development of retail sector workers in Egypt to help them remain competitive in the region, according to a report by strategy and technology consulting firm Booz Allen Hamilton.
The report, titled “Next Generation Retailers: Power Up Your Analytics”, sheds light on how data analytics can be incorporated into a company’s business processes in Egypt to benefit from internal and external data. Internal data includes customer profiles, demand, and transactions, while external data includes social media, traffic, and weather. This data would help Egyptian retailers tailor what they offer their customers, with the aim of enhancing sales, while optimising the return on investment.
The report also highlighted the fact that data analytics can be used to improve the customers’ value and improve their journey, as well as help retailers exceed their expectations.
“Conditions in Egypt are indicating a favourable environment for growth in the retail sector. The demand on the retail sector is high due to Egypt’s population of 88.5 million, with nearly 50% being under the age of 25,” according to Oxford Business Group.
“We have found that there is immense pressure on retailers brought on by changing shopper dynamics. Retailers must understand changing customer behaviour and shopping preferences to provide a seamless shopping experience that will, in turn, create new revenue streams beyond the shop floor,” Danny Karam, vice president at Booz Allen Hamilton MENA, said.
Working in the Middle East and North Africa region for nearly six decades, Booz Allen Hamilton has partnered with public and private sector companies in business strategy, digital innovation, data analytics, cybersecurity, and resilience, as well as many other fields. The firm’s revenues reached $5.41bn until 31 March 2016.