Retailers have collected enormous amounts of transactional data for a long time. Today’s digitally enabled shoppers not only investigate products in-store, they also extend their research into the digital domain. This non-transactional data created during consumers’ digital experiences define “big data” in retail.
According to recent research by Penton’s retail and restaurant groups, companies are using data gleaned from consumers’ digital activities to better understand consumer preferences before they see it in sales. This allows companies to respond quickly to shifts in demand, pricing, promotions and assortments by influencing customer choices with targeted and timely value offers.
However, most retailers still have a lot of questions about how to gather and utilize their data in order to leverage this powerful set of technologies.
In this webinar we will discuss:
- A primer on how big data is best used in retail
- Recent data on how your peers are using big data
- What you need to know to refine or jumpstart your big data efforts
- How to simplify the management of this data
- Stories of how other retailers have significantly enhanced their businesses with data analytics
Moderator: Julie Gallagher, Senior Content Manager, Supermarket News
Brian Kilcourse, Managing Partner, RSR Research LLC. Brian Kilcourse is a recognized thought leader in the United States on how businesses innovate to deliver differentiating and sustainable value through the power of information. Brian is a managing partner at Retail Systems Research LLC (“RSR”), a company focused on helping companies develop winning strategies with its industry leading research focused on the extended retail industry. Prior to RSR, Brian was CEO of a B2B media company and CIO/SVP for a major West Coast retailer.
Tim Hood is an experienced retail technology executive with creative problem solving and communication skills. He has deep experience in all facets of the retail technology industry which range from market analysis and product definition through enterprise and application architecture to the management of the development and release process.