Through this tutorial you will learn Big data applications and Big data uses in retail sector with examples along with use of RFID in retail. You will learn concepts related to Big data in retail industry like retail asset management, production tracking in retails industry, inventory control, Shipment, Regulatory Compliance, and Service and Warranty Authorizations and many other retail Big data use cases with examples.
2. Use of Big Data in Retail Industry
With the growth in retail industry with millions of transactions spread across multiple disconnected legacy systems, it is impossible to see the full picture of the data that is getting generated as Retail stores typically run on legacy POS systems that batch update on a daily basis and often do not communicate with each other. Daily updates are provided and the systems do not interact with each other.
Due to increasing market size, it can be an impossible task for a marketing analyst to understand the strength and health of their product or campaign and reconciling the data. Transaction data in its raw form helps a company understand its sales pattern. Savvy retailers can use big data – combining data from web browsing patterns, social media, industry forecasts, existing customer records and many other data to predict trends, prepare for demand, pinpoint customers, optimize pricing and promotions, and monitor real-time analytics and results.
3. Use of RFID Data in Retail
Let us see use of RFID in retail industry.
A radio frequency identification tag (RFID) tag, is a small tag which contains a unique serial number. It is placed on objects like shipping pallets or product packages. The tag can be attached to all sorts of things like merchandise, shipping containers, vehicles etc. An electronic scanner can then use radio signals to read or track the ID tag.
For example, to check inventory, a warehouse worker might use a hand-held RFID reader. The data on the tags might be numbers only, but once scanned, the numbers can be checked against a computer database to know exactly what the company has on hand. This can be used for identifying situations where no unit of a particular item is available on shelf in retail environment. In this manner, it helps in better tracking of shelf availability.
Various applications of Radio Frequency Identification Data in retail are asset management, production tracking, and shipping and receiving. RFID usage isn’t limited to the retail sector only. The pharmaceutical industry is already exploring how RFID tags could help identify counterfeit, and potentially harmful, drugs.
4. More Uses of RFID in Retail sector
Let us see few more uses of RFID in Retail:
5. Asset Management
RFID can help in asset management as below:
6. Production Tracking
RFID can also be used for production tracking as below:
RFID has been used in a number of practical applications, such as improving supply chain management, tracking household pets, accessing office buildings, and many more.
RFID technology can be used to track products similar to bar codes technology, but RFID also carries additional benefits. It does not need line of sight to read the tag, has a longer read range as compared to bar code reader, and tags can store more data than bar codes.
7. Shipment, Regulatory Compliance, and Service and Warranty Authorizations
Radio-frequency identification (RFID) technology is used for transferring data, for automatically identifying and tracking tags that are attached to objects and contain electronically stored information.
Various other uses of RFID include:
Logistics and transportation are major areas of RFID technology implementation. In the railroad industry, RFID tags identify the owner, identification number and type of equipment and its characteristics. This can be used with a database to identify the source, destination, etc. of the commodities being carried.
RFID technology is being incorporated to support maintenance on commercial aircraft. RFID tags are used to identify baggage and cargo at several airports and airlines.