Big Data State Of Play
More organizations are storing, processing, and extracting value from data of all forms and sizes. Resulting in big data state of play. Systems that support volumes of both structured & unstructured data will continue to rise. The market is demanding platforms that assist data custodians govern & secure big data while empowering end users to analyze such data.
These systems will mature to operate well inside of enterprise IT systems and standards. Customers today are demanding analytics on all data & the world is moving in such a way that companies need to invest in technologies. It is important that retailers start thinking like a software company rather than a product company. All value additions that are captured with the help of technology will be dependent on the quality of the data.
Keep in mind, customer sentiments & brand power are two major factors driving the retail industry. For this reason, data analytics is extremely important for businesses in the retail industry. Therefore, the value of customer data is something you cannot afford to ignore whether you’re a small retail business or a big one. By understanding your customers, retailers can increase their value & thrive in this competitive world.
Information is power: the sooner you understand this, the better it will be for you.