A recent report from Cisco suggests that in-store analytics could add a staggering $61 billion (£45 billion) of value to retailers worldwide throughout 2018. The report states that retailers can significantly improve their workforce efficiency using real-time information, operational analytics, workforce management tools and shopping analytics.
With this kind of added value at stake, it is essential that retail businesses understand what they can do to ensure that they are getting the most out of big data and analytics. Gathering and analysing as much useful data as possible allows retailers to gain a competitive advantage, giving them the tools to completely rethink the physical environment of their stores as well as offering more personalised, convenient and flexible experiences for their consumers. This enables them to differentiate themselves against the competition and live up to the increasingly demanding expectations of contemporary shoppers.