Unlocking the Power of Data in Retail
Retailers face some critical business challenges that revolve around the changing needs of the consumer: since the consumer is more demanding, the offer needs to be good enough to convince him to buy. Increased consumer access to information and the many competitors on the market mean that the consumer is looking for a great shopping experience, rather than just cheap pricing.
The retail sector is struggling to find growth compared to other industries, as most practices and technologies used are old, and retailers do not adjust to the fast-changes of consumer needs. This whitepaper discusses essential retail figures around big data, and how performing big data analysis and using new technologies can help you increase customer lifetime value and sales, reduce costs, adapt stocks to seasonality and trends, and improve your business decision process.
- Executive Summary
- Market Overview. Trends in Retail.
- Key Business Challenges for Brick & Mortar Retail Companies
- Key Business Challenges for Online Retailers
- Picking the Ripe Fruits of Big Data in Retail
- IT Infrastructure for Retail
- The Bigstep Products and Where They Fit
- End Notes & References