Digital Transformation for Retail Survival
Retail firms are under tremendous pressure to remain profitable. As online customers can easily compare competing products, retailers need to fully understand customer needs to launch successful, differentiated offerings; retailers that adopt big data and the IoT, more quickly than others, will be better poised to do so. All retailers, from the smallest to the largest, are under constant pressure to engage in lean inventory management, and digital transformation has become a necessity for every retailer on the planet.
The global retail analytics market size to grow from USD 4.3 billion in 2020 to USD 11.1 billion by 2025, at a CAGR of 21.2% during the forecast period.
Get It Right or Fall Behind
Every retailer tries to understand customer behavior, to effectively match their needs with product or service offerings. This is why retail firms invest heavily in big data, streaming, cloud technologies, MDM systems, and social media. But in spite of such investments, retailers are still finding it impossible to gain a complete view of the customer, product, supply chain, and competition, in real time. Without a data fabric in place, each of these separate technologies or systems remain disconnected.
How Data Virtualization Can Play a Critical Role
Data virtualization is a proven technology for establishing a data fabric. It is the only technology that can create combined views of big data, cloud data, IoT streaming data, social media data, and other legacy system data, in real time, without physically moving any data. With data virtualization, retailers can create a complete view of the customer, product, or supplier in a matter of weeks.
The Benefits of Data Virtualization
More effective cross-selling and upselling, online or in-store.
Enhanced promotional activities.
Optimized product mix, pricing, and placement.
Lean inventory control capabilities, for increased profitability.
Improved customer propensity analysis and targeted marketing activities.
DENODO CLOUD SERVICES
The only pure-play data virtualization product in the cloudAzure AWS GOOGLE CLOUD
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