A. Commit initial efforts to customer-centric outcomes It is imperative that organizations focus big data initiatives on areas that can provide the most value to the business. For most retailers, this will mean beginning with customer analytics that enable them to offer better, more finely tailored products based on a better understanding of customer needs and predicted behavior patterns. Retail organizations can use customer insights to generate enhanced products, improve brand performance, drive customer loyalty, adjust pricing and improve customer satisfaction. To effectively cultivate meaningful relationships with their customers across all retail channels (e.g., store, online, e-mail, mobile, etc.), retailers must connect with them in ways their customers perceive as …show more content…
The most logical and cost-effective place to start looking for new insights is within the organization’s existing data store, leveraging the skills and tools most often already available. Looking internally first allows organizations to leverage their existing data, software and skills and to deliver near-term business value. In addition, companies gain important experience as they then consider extending existing capabilities to address more complex sources and types of data. While most organizations will need to make investments that allow them to handle larger volumes of data or a greater variety of sources, this approach can reduce investments and shorten the timeframes needed to extract the value trapped inside the untapped sources. It can accelerate the speed to value and help organizations take advantage of the information stored in existing repositories while infrastructure implementations are underway. Then, as new technologies become available, big data initiatives can be expanded to include greater volumes and variety of