Big data is changing business. Retailers can now compile and analyze massive, detailed datasets that standard software never could. But big data isn’t just big — it’s young. A poll of marketing, retail and IT professionals conducted by Brick Meets Click found most respondents had only heard of big data within the last three years.
It’s also elusive: No two definitions provided by the respondents were the same, but they agreed on its potential to shake up the industry and change things for the better. Big data works in real time -– covering shoppers’ movements within a store, their preferences and more. This could allow brick-and-mortar stores to compete with online businesses like Amazon that are already rocking personalization.
Check out the infographic below to see what else we know, or think we know, about big data, and how it could change the landscape of retail in a big way.
Infographic courtesy Baynote.
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