Big data and the retail industry [#Infographic]
We thought we’d share this great infographic from Colourfast as it has some thought provoking stats about big data and the retail industry.
Every person, whether they like it or not, is transmitting data at all times via digital processes. Companies are working hard to make sense of the mass of data that’s being created, especially in terms of determining which data could help them create competitive advantage and ultimately more sales – think Amazon and how they used data to populate their “recommended for you” which suggests similar items their customers may like.
What’s clear is that the challenge is to not only to access all this information, but also to give it meaning by creating structure behind it.