Monday, August 12, 2013

Big Data in the Retail Industry

Imagine as a business being able to create competitive advantage by using Big Data. Imagine being able to predict the hottest trends for the season in the busiest time of the year. Big data together with prediction models trends can be a very powerful tool to use. Business will be able to predict demand and target customers in a smart way. With this information, business can create value by adding insights for price optimization, having real time inventory data and other key aspects that are relevant to the business.

Big data is here to stay and to help businesses perform deeper analysis on all types of data. It helps finding meaningful patterns and insights in order to create competitive advantage, by being able to provide a smart shopping experience to customers.

Take a quick look to the video on how retailers could use big data in order to create competitive advantage.

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