HBR research reveals who’s winning with data analytics and how
Imagine a retail business using last year’s sales data to determine what goes on store shelves during the holiday season, while a competitor captures what shoppers put in their carts and uses that data, in real time, to modify the product lineup to tempt them to buy more. Who wins?
This is what’s happening in retail today as tech-savvy, online-first brands enter the industry with a modern, data-driven bang. New research from Harvard Business Review Analytics Services found that 42 percent of retailers rely on static and backward-looking standardized reporting and analysis for their digital data analytics strategy, while 43 percent of tech companies have embedded data and analytics into all processes and decision-making, and many have implemented predictive or prescriptive analytics to automate business decisions.
In this eBook, we:
- Explain why retail’s biggest competitor now is the tech industry.
- Outline three key data strategies retail must embrace to compete with tech companies for consumer loyalty.
- Show how a well-known e-retailer delivers successful data-driven customer experiences.
With Snowflake, retail executives can leverage the cloud to unify their data and access it in real time to get the coveted 360-degree view of their customer, build omni-channel campaigns, and increase sales. Find out more in our eBook!