Lynx Analytics: Rebooting Data Analytics for Retailers
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Running an efficient supply chain is crucial for ensuring a cost-effective retail operation. However, to achieve this, retailers must match supply and distribution with customer demand. Only then can they minimize wastage, streamline inventory, and ensure that items are channeled to places where they will be bought by customers. And what better technology than predictive analytics to help retailers optimize their supply and demand planning? Predictive analytics can help with analyzing demand figures and identifying patterns in sales, shipments, and customer preferences. By pairing these numbers with external data, the software can forecast demand via predictive modeling and scenario-based planning.
A company that can help you in achieving this capability is Lynx Analytics—a provider of data analysis solutions. Founded in 2010 and headquartered in Singapore, Lynx Analytics is the ideal partner to help retailers harness data analytics and improve business outcomes through enhanced customer experience, sales effectiveness, and customer lifetime value. For this, the company offers off-the-shelf software products that incorporate the latest AI and machine learning (ML) techniques as well as consulting services for retailers to generate data-driven customer insights that can be put into action immediately.
Specifically, the company’s Customer Happiness Index (CHI), an ML-driven predictive analytics solution, helps retailers predict average revenue per user (ARPU), customer lifetime value (CLTV), 5G adoption propensity, net promoter score (NPS)—while identifying key drivers for these metrics for every customer. Retailers can use this information to help prioritize and decide which customer segments to target first.
Additionally, the company’s LynxSights—a web-based application—enables retailers to gain insights about their store visitors and catchment area with information including consumer demographics, sociographic, psychographics, competitor stores, population density, and footfall and traffic levels. This helps retailers to see and unlock the potential interests of their customers in order to plan their product mix, displays, discounts, promotions, preferable products, or time of purchasing, and even store location in order to generate in-store traffic and maximize sales. Additionally, with easy accessibility, retailers no longer have to be worried about managing different licenses and data sources.
What’s more? The company has developed LynxKite, a complete graph data science platform enabling retailers toput together complex data processing pipelines to gain value from graph-based mining insights and building models on top of it. It helps retailers turn data into graphs and interpret algorithm results interactively at any stage of calculations, easily experimenting with different customer-centric marketing approaches and tuning parameters. Besides, it effortlessly reveals hidden network properties, including demographic estimations, product recommendations, fiber network optimizations, and detects unknown clusters in dormant raw data.
Lynx Analytics is the ideal partner to help retailers harness data analytics to predict and improve business outcomes such as customer experience, sales effectiveness, and customer lifetime value
Today, what makes Lynx Analytics’s unified data analytics solutions stand apart from other contemporary solutions is the company’s extensive experience in the areas of marketing technology, artificial intelligence, individual customer journeys, and cross-channel marketing. Lynx Analytics understands the typical challenges retailers face with their customer service, and as such, Lynx Analytics tries to resolve these hurdles proactively for its clients.
Looking forward, Lynx Analytics is determined to follow its current trajectory in the data analytics side of the business. The company is continually looking at new solutions to expand its digital ecosystem shore up its capabilities—to bring more visibility and efficiency in data-driven customer insights.
Management Gyorgy Lajtai, Co-Founder and Managing Director
Description Lynx Analytics is the ideal partner to help retailers harness data analytics to predict and improve business outcomes such as customer experience, sales effectiveness, and customer lifetime value. For this, the company offers off-the-shelf software products that incorporate the latest AI and machine-learning techniques as well as consulting services for retailers to generate data-driven customer insights that can be put into action immediately