We have entered the era of Big Data, but few Retail businesses have yet achieved success in terms of transforming business performance, in spite of being Big Data rich
ANALYTICS
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Successful exploitation of big data - both internal and external - is critical to retail success. But it requires leadership and a transformation in the way the the business thinks, operates and organises.
BIG DATA NEEDS A PLAN
Big Data exploitation needs a Plan all of its own. Businesses need to decide:
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Which Data to exploit
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What analytical tools to use
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What Organisation to build
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What investment to prioritise
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ANALYTICS & INTEGRATION
Data is buried within the organisation as well as externally, in social media, at Suppliers and at competitors. Exploitation needs powerful analytics tools, advanced data integration capabilities and a focus on actionable outputs if the power of the data is to be translated into enhanced business performance
CHANGE LED FROM THE TOP
Change has to be driven from the CEO's Office and the new Analytics Organisation needs to be empowered and supported right across and down the business. It's not just about new technology - it's about a new way of managing the business