The advent of omnichannel shopping is proving to be both a challenge and an opportunity for retailers. While on the one hand it opens up opportunities to target customers at every stage of the buying cycle and create personalised experiences, on the other, retailers are faced with the challenge of creating an integrated customer experience. This involves delivering a digital strategy that unifies the customer’s online and in-store personas.
Do you feel overwhelmed by the mountains of enterprise data from different sources and no respite in sight? Despite this information overload, does insight seem to elude you? This proliferation of data across multiple platforms and the need for faster insight has made the traditional ETL (Extract, Transform and Load) data process ineffective at handling and integrating voluminous unstructured and structured information.
Data plays a crucial role in enabling businesses to deliver on their digital transformation strategies. In fact, as evidenced in the recent Cambridge Analytica scandal, it can make or break a business. By capitalising on enterprise information, businesses can unlock value to reveal hidden customer behaviour patterns.
Black Friday is that day of the year when buyers start scouring online and offline platforms for the best deals. The day signals the start of the Christmas shopping frenzy that culminates in January sales. Having caught on rapidly in the UK within the last ten years, UK shoppers are expected to spend £10Bn on Black Friday shopping this year.
It seems like a Catch-22 situation where businesses need data to derive meaningful insight and improve decision-making. However, transforming business dynamics entails that enterprises access information in a variety of formats across numerous business systems. As a result, enterprises are still getting to grips with the data that is supposed to empower them.
Agility in decision-making processes is the buzzword in the ever-changing and dynamic business environment. In my view, businesses want to act and improve their decision-making in real time. One of the important factors to bring agility to business decisions is to have effective, actionable insights on information available to business in days or weeks and not in months or years.