Firm partnered with Artefact Middle East and Africa for the digital transformation project
Nakheel Malls has launched a data transformation initiative as part of its wider customer-centric strategy. The initiative aims to provide benefits to retailers and customers across its assets, and is said to leverage machine learning algorithms and AI-enabled data products.
The fully governed, advanced platform provides key insights to more than 3,000 tenants by studying retail habits, purchases and experiences of over 90m customers, Nakheel Malls explained.
It also said that the technology includes a state-of-the-art data lake that is constructed from a unique governance system. The five-year project aims to introduce retailers to new solutions to deliver tangible financial value, generate insights and support on building a solid data infrastructure for the entity, the firm noted.
“In today’s digital era, it is more critical than ever to provide relevant data analytics to assist retailers and enhance our offerings to consumers. We are proud to partner with Artefact in this digital transformation and to embark on a realistic, empathic journey that will enable us to further understand our customers’ needs and provide our retail partners with in-depth analytics to support their business growth,” said Omar Khoory, chief Hospitality and Assets officer at Nakheel Malls.
As part of its digital growth strategy, Nakheel Malls recently introduced dragonmart.ae, an e-commerce platform that provides shoppers the ability to sort and discover over 35,000 products found at Dragon Mart across 11 high-level categories within the comfort of their homes, the statement said.
Dr Oday Salim, data manager at Nakheel Malls added, “With the rapid development of data technology, Nakheel Malls identified the need to adopt the latest advanced solutions to achieve our customer-centric strategy. Our cutting-edge analytics program has helped us to navigate the shift in customer expectations and needs as a result of the pandemic, and has fostered a change in company culture, making us more data driven. New use cases are being tested and integrated into retail operations leading to both machine learning and AI in a five-year plan.”
Rahul Arya, managing partner at Artefact Middle East and Africa remarked, “Recent events have accelerated data transformation within the Middle East’s fast-paced retail sector. This data platform has enabled Nakheel Malls to respond quickly to the changing environment with a robust data strategy and advanced data use cases that enable the group to respond to customers across any time zone, location or device, and deliver outstanding customer experiences.”