Podcast: The data game – are retailers ahead?
In this podcast, IBM Cloud’s Patrick Pitre, Analytics Client Architect and Renee Livsey, Director, Technical Sales discuss the emerging technology trends in retail and how the industry is ahead in the data game.
When it comes to disruption, the retail industry has experienced an explosion in the past several years. And a lot of that is down to the continual change in customer demand and the way data is handled and analysed.
While online shopping continues to see expansion, on the whole, the old buying journeys that begin and end in a physical journey are dying, but that doesn’t necessarily mean that there won’t be a physical footprint for stores in the future.
Stores are generally closing because consumers want everything delivered to their home. But people do still desire the flexibility to touch and feel certain products, and get that physical experience that you can only find in a brick and mortar store.
Retail is an industry which is learning faster than ever. Some stores are using analytics to become smarter about what consumers send back, and what they keep. So, is it that successful retailers are doing something different with their data that others aren’t?
Better analytics drive better approaches to market, but there’s a fine line with how you use the data you collect. And being transparent is going to be highly important – and that’s to protect both consumers and businesses.
The industry is focused on personalisation, and getting a 360 degree view of customers, but it’s not the only place that it should be focused. Every business needs, or should have, a competitive differentiator. For some it’s still customer service – something far from the world of data, machine learning and artificial intelligence.
In this podcast, Patrick and Renee discuss everything from the role the different demographics play in the analytics market, helping customers leverage data to build and design analytics solutions, to how machine learning and AI are set to change the industry yet again.
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