London 8th November 2018 9:30am GMT – Research published today by in-memory analytics database creator, Exasol, reveals that 82 per cent of retailers are committed to implementing a data-centric strategy in the next five years, with almost a third stating this is already in place. The research found 58% of retail decisions are being guided by data, although almost half are yet to implement a single customer view in the omnichannel era.
Retailers are relying on data to drive better insights and decision making to address specific challenges within their businesses, but the adoption of data analytics is not universal. Respondents stated they used data for decisions on sales and marketing campaigns (70%), price optimisation to overcome issues around diminishing margins and increased competition for revenues (64%), and better supply chain management (55%). However, the study also revealed that many retailers have not yet implemented a strategy that provides a holistic...
