Data Empathy: The Missing Ingredient in Data-Driven Decision Making

In today’s data-driven world, it is easy to get lost in the numbers. We collect, analyse, and visualize data to gain insights and make informed decisions. But what if we are missing a crucial ingredient in our data-driven approach?

Data empathy is the ability to understand and share the feelings of others based on data. It is about going beyond the numbers and understanding the human stories behind them. It is about using data to connect with people, not just measure them. Data empathy is important because it allows us to make more informed and humane decisions. When we understand the people, we are making decisions for, we are more likely to create solutions that are helpful and relevant.

Retail industry is using RFID technology to capture data from the products. This data is then communicated, stored, and processed for business intelligence. Retail industry can further capitalise on data empathy. Customer journeys are the steps that customers take to interact with a brand, from initial awareness to purchase and beyond. By understanding customer journeys, brands can identify where customers are dropping off and make changes to improve the overall experience.

Brands can use data to build customer personas, which are semi-fictional representations of ideal customers. Using customer personas, brands can better understand their target audience and develop marketing campaigns that are more likely to resonate with them. Brands need to be able to measure the impact of their customer retention initiatives to know if they are working. This can be done by tracking metrics such as customer lifetime value, churn rate, and repeat purchase rate.

To develop data empathy, we can start by putting people first. Start by understanding the people for whom we are collecting product-related data. What are their needs? What are their challenges? Data empathy is about being smart and humane. It is about using data to make a positive impact on the world. RFID helps collect product data to understand people better, not just to track their behaviour.

Data empathy will evolve as a powerful tool to personalise product recommendations, targeted promotions, and improved customer service. Retail brands can use ‘Fitting-Room-Analytics’ solution from i-TEK RFID. Our RFID solutions helps brands to track every product or apparel with the help of a RFID sensor installed at the fitting-room entrance. Brands can trace what is getting inside the fitting-room and what is getting sold. Brands can derive intelligence about products which are attracting eye-balls but never getting sold; or products that are sold without getting into the fitting-room.

Fast and accurate capture of product-related data also improves the inventory and supply-chain management for retail brands. Retailers can minimise stockouts and increase customer retention with iTEK RFID solutions.

To know more, visit https://infoteksoftware.com/