Big Data, fast data and the data deluge are taking the world of digital businesses, especially the customer-focused ones, by storm.
Technology is enabling businesses to collect shopper data from touch-points, analyse it and derive insights to make informed decisions, whether it is to provide a better customer experience, run marketing promotions or decide product assortment or gain tighter stock control.
However, the volume, variety and velocity of such shopper data is a great challenge and retailers are embarking on massive efforts to make sense and glean insights from it, to stay one step ahead of competition.
Retail CXOs today need a way to measure the impact of their "Insights" initiatives and investments.
(Source: The Hindu Business Line )