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Big data, big benefits – how retailers can win big from their data

Mark Gamble, Senior Director of Technical Marketing for OpenText Analytics | Feb. 7, 2017
Traditionally, retailers have always been ahead of the game when it comes to collecting customer data, however, with the landscape constantly changing, such incentives only provide a small amount of data to a larger puzzle.

Big data analytics is dramatically changing the retail landscape for both business and customer. Retailers can benefit immensely from an analytics-driven approach that will help them understand how their customers are using their products and services, and how their operations and supply chain are performing.

Retailers should look to apply big data analytics to generate deeper insights across the entire value chain of retail operations and streamline their decision making processes. Right now, the ability to utilise these analytic insights is a real competitive advantage, but in the not-too-distant future, it will be a necessity, and those that have failed to adopt a suitably transformative approach will find themselves lagging dangerously behind.

 

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