TechCrunch
More and more retailers are learning the importance of big data and how it can be applied to improve sales, but few have the core expertise to understand how to gather, organize, and to analyze it. To help them do so, Toronto-based startup Rubikloud has raised $7 million in Series A funding from strategic investors.
Rubikloud was founded with the idea that it could help online retailers use big data to boost their sales. By understanding consumer behavior and applying data analytics on the fly, the company believed it could improve conversion rates by making changes in real-time during the checkout process.
But over time, the company learned that the same type of data analysis it was producing for online retailers could also be applied to businesses that had brick-and-mortar stores as well. In fact, since 80 percent of sales for omnichannel retailers happen in the offline world, understanding how customers shopped in real-life was potentially more lucrative than converting them online.Read More