Business Strategy: The Big Data and Analytics Pillar of 3rd Platform Retail IT
|Authors:||Greg Girard, Dan Vesset|
|Document Type||Business Strategy|
|Number of Pages||17|
|Number of Figures||3|
This IDC Retail Insights report discusses about the returns on investment in big data and analytics — a pillar of 3rd Platform retail IT can be monetized through traditional levers of customer loyalty, revenue growth, cost reduction, and new business models. Value creation requires aligning big data and analytics projects with the three imperatives of omnichannel retail — insight, personalization, and personalized community engagement with the brand.
"Retailers will derive more value from big data and analytics as they successfully manage five dimensions of change — intent, process, people, data, and technology," said Greg Girard, program director, Retail Merchandising, Marketing, and Analytics.
Analytic applications, Applications, Big Data analytics and discovery, Big Data decision support and automation, Broadband, Data access, analysis and delivery, Databases, Hardware, Mobility, Networks, Order management, Search and discovery, Social networking, Software, eCommerce
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