5 Best Practices For A Successful Retail Data Strategy
Leading retailers are blazing a path toward better insights with a new, modern approach to data — self-service analytics. This approach allows business people to ask and answer their own day-to-day questions, and find faster avenues to bring new ideas to the market. This new methodology, where IT manages data governance, ultimately frees IT from the antiquated reporting queue and simultaneously allows them to focus on other mission-critical projects.
In the report Growth Strategies: Chasing the Consumer With Technology, Retail Systems Research found that retail "winners" are more likely to utilize data visualization for both structured and unstructured analytics: "A majority of winners also seek to operationalize predictive analytics with [a] visual presentation of data, apparently in a bid to make the results of predictive analytics available to operators in the selling environment."
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