Big Data and the retail industry are a great combination as the retail industry is known for collecting massive amounts of data. Ranging from Point-of-Sales data, customer loyalty program data or social data, it can all be harvested, combined and analysed for new insights. Big Data makes a true Omni-channel strategy possible and could increase conversion rates, as shown by the infographic developed by Wipro. Of course it is not that simple to develop a Big Data Strategy and the companies surveyed state that they do face some important challenges that the need to overcome before they can really benefit from all the data.
How Big Data Gives Retailers a Competitive Edge and Boosts Growth – Infographic
