In-memory analytics database creator, Exasol, has discovered that 82 percent 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.
Its research found 58 percent 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 percent) price optimisation to overcome issues around diminishing margins and increased competition for revenues (64 percent), and better supply chain management (55 percent).
