If you look at Amazon, Macy's.com or any e-commerce site, they have so much data and they use analytics to constantly improve the way they run their websites," he said. "Then you walk through the front door of Nordstrom or Victoria's Secret and nobody has any idea what happens."

In 2007, after spending more than seven years at Cisco, Agratchev left the company to co-found RetailNext, a San Jose tech firm that collects, analyzes and packages data about shoppers, including the time they spend at a store and whether they're a new or returning customer. The company, which has about 190 employees, recently announced $125m in funding and some of their biggest clients include Bloomingdale's, Brookstone, American Apparel and Pepsico.

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