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TransformingRetailIndustrywithBigDataAnalyticsSwanieTolentinoMarch242014IBMPointofView
Dramaticforcesacrosstheindustryrequirenewapproachestohelpacquireandretainconsumershareofwalletwhilemaximizingprofitabilityandreturns…Consumersarerapidlyacceleratingadoptionofnewsocialmobiletechnologies.PathtoPurchaseisforeverchanging.EmpoweredConsumersSources,Volumes,
Velocityofconsumerbehaviorandpurchasetrenddataareexploding.Manyretailersarenotequippedtostore,manage
andreact.DataExplosionConsumerspendingisincreasinglysensitivetooftenchangingglobalandlocaleconomicconditions.Inventory,LaborPriceForecastingContractions.EconomicVolatilityE-tailingreducesbarrierstoentrantswhoofferpathstopurchaseincreasinglyattractivetotoday’sconsumers.Competitionis
foreverchanging.OpenMarketplace
Rememberthese?RetailersthatonceruledarenowonstrugglingtosurviveNowchallengedbytheseandothers…Thebattleforconsumerloyaltyandshareofwalletcontinuesandisincreasinglyfierceanddifficulttosustain
Storemanagers
…couldanticipatelocalcompetitivepricechangesandtakeproactiveactionsMarketing...couldgleanfromsocialmediaadditionalpersonacharacteristicsformoreprecisecustomersegmentationandtargetedoffersMerchandising...couldpredictwhatwillbethehottestsellingtoyfortheingChristmasseasonbasedonhistoricaldata,socialmediabuzzandvendorsmediabuyingtrendsSupplyChain...couldeffectivelyre-routetruckstoavoidcostlydelaysbasedonreal-timetrafficandweatherdataHumanresources...couldcost-effectivelygetjobopeningsadvertised,filledandimproveproductivitymonitoringofnon-sellingemployeesProcurementVendorManagement...couldexecutebetterbuyingdecisionsbasedonhistoricgranularperformanceBigDataFinance...couldanalyzemassivetransactions,improvetheuseofcashacrosstheorganizationanddetectfraudandarr
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