Having better and well-performing information enables companies to make smarter decisions about their customers. Smartphones and their apps provide an intensive framework that yields a wealth of new opportunities. Since they are programmable, they enable the development of data collection tools to record various behavioral aspects of the user, ranging from how the device is used across different contexts to analyzing spatial and social dimensions of the everyday life of the user through sources such as GPS, call logs, and Bluetooth.

What’s trending hugely now is that smartphones can also be used for greater insight into how products are purchased, when, where, and why. An example for this is Dynamic Buy-buyer, a retail inventory management app that combines both purchasing and stocking into one streamlined solution. Buyers are given the tools to maximize cost-per unit and restocking of high-revenue items. This app is also designed to let buyers know when they are getting a good deal on purchases done outside of the standard buying cycle.

If the buyer can see inventory requirements in real time and comes across a good deal on a popular item, they can glean the information they need without having to communicate to the back office about inventory requirements.