In today’s data driven environment, big box retail is driven by the ever-growing nature of huge volumes of data. It is becoming more and more adept at managing and harnessing the power of data to drive its industry. These retailers amass a large amount of data across their supply chain and customer touch points. Digital customers and social media are feeding a massive data explosion. In this environment, these savvy retailers have learned to master industry and customer trends to be highly competitive in their respective markets. Recent studies on data growth indicate that:
- Data is projected to grow over 800% in the next 5 years.
- Of that data, 80% will reside as unstructured data.
- Digital content as grown 30 fold in the past 10 years.
Retail has been at the forefront of capitalizing effective data management. The industry requires more than just simple data management tools. Retailers must access customer and product information, as well as understand and anticipate customer preferences and trends, which will ensure their competitive relevance.
As we move into the future of the fast paced retail market, there are three pillars of data that all retailers will need to embrace:
- Data Management Solutions: Handling unstructured data and large data volumes, as well as structured data that is not modeled.
- Structured Data Solutions: Structured data process needs leveraging data management constructs to address large volumes.
- Analytics: Analytics through effective data management that process large amounts of data for immediate and real time response.
With these factors in mind, Data Ladder is THE choice for retailers looking to capture significant advantage in this fast paced industry. The stakes are high and no other vendor can provide the insights and advantages Data Ladder brings to the retail environment. Contact us today to see how Data Ladder can help you capture your market share.