4 Fundamental Ways Data is Changing the Face of Retail
How do the promises of data become real business results?
Data, undeniably, is everywhere – and day after day, as the digital world transforms more human actions into data-generating experiences, its volume continues to grow. Data is changing the face of retail.
All that data represents a massive opportunity for retail businesses. Intelligence. Optimisation. Innovation. Revenue. Expansion. And edge. So where do data-driven insights have the most impact? And what types of benefits can you expect to see?
In the digital era, customers are more informed and more empowered than ever. For the first time in history, no matter where they are, they can instantly compare products, features, and prices. They have also come to expect personalised, convenient experiences.
Retails managers need to use this explosion in the availability, volume, and velocity of data to their advantage. Together with the increase in accessibility and sophistication of analytics solutions to reimagine and revolutionise the retail processes.
The impacts of data-driven transformation tend to fall within four main categories:
- Customer Intelligence
- Reimagined Processes
- New Business Opportunities
- Balanced Risk and Reward
Analytics provide unprecedented opportunities to capitalise on the three major shifts transforming the retail landscape today. This e-book will show you how those three shifts map to the four fundamental outcomes that analytics deliver
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