Retail

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Current State and Opportunities

Challenges
 
Opportunities
Rapidly Evolving Customer
Consumers are rapidly accelerating adoption of new social & mobile technologies.
Customers are empowered and often resort to "showrooming” leading to squeezing retail margins
Customer intimacy through 360 view combining internal & external data
Open Marketplace
E-tailing reduces barriers to entrants who offer paths to purchase increasingly attractive to today's consumers.
Competition is forever changing making demand prediction tougher.
Predicting customer trends through advanced analytics; Improved hyper personalized offerings
Economic Volatility
Consumer spending is increasingly sensitive to often changing global & local economic conditions.
Inventory, Labor & Price Forecasting Contractions.
Improve supply chain, logistics & operational efficiency through LEAN, JIT, IoT
Data Deluge & Dark Data
Sources, Volumes, & Velocity of consumer behavior & purchase trend data are exploding.
Many retailers are not equipped to store, manage & react.
Deploy Big Data & Analytics driven initiatives, dynamic pricing; Location based promotions

Retail consumers are rapidly adopting new social & mobile technologies which empowers them and they increasingly resort to “showrooming” leading to squeezing retail margins. Additionally, competition is constantly changing making demand prediction tougher. While volumes of data are exploding, retailers are not currently equipped to leverage this available yet “dark data”.