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Big Data in Retail: Opportunities and Challenges - Gaining competitive advantage through better understanding retailers’ business and IT priorities

Big Data in Retail: Opportunities and Challenges - Gaining competitive advantage through better understanding retailers’ business and IT priorities

Summary

Big Data in Retail: Opportunities and Challenges, report discusses retailers' Big Data and analytics related business and technology challenges, and provides a market forecast until 2020 by retail and IT segments. The report analyzes various approaches to analytics, data management and provides advice on how to generate value from data-driven solutions.

Big Data and Analytics provide substantial opportunities for retailers since they already have a wealth of data that can be used for analytics to optimize processes, increase sales and launch new services. Detailed customer profiles can be built on Big Data, cost savings achieved through supply chain efficiencies and superior customer experience offered, which can lift the brand image. Big data solutions allow that data from individual stores can be compared with figures and insight gathered from eCommerce operations, interactive customer apps and log data from systems and sensors across the organization. Social media and socio-economic data can also be integrated into the analysis, as well as input from warehouses and suppliers.

Scope

  • The fast-growing market for various Big Data and analytics solutions in retail provides hardware and software vendors, as well as cloud service providers, systems integrators, and consultancies with notable business opportunities
  • Most of the hardware innovations that are currently happening in retail such as various IoT solutions have an analytics element that helps to better understand customer behavior and market trends, and optimize various processes from warehouse management and staffing to store traffic and eCommerce websites
  • Retailers feel the pressure from competitors advancing in their usage of data for better targeting customers and look to improve their brand image, marketing efforts and operational efficiency
Reasons to buy
  • Gain insight into retailers' Big Data and analytics related priorities. This reports helps you to pitch Big Data and analytics solutions to retailers and understand how these are linked to key business systems, as well as the role that Big Data plays in innovative retail concepts.


  • Background: Retailers' Business Challenges
  • Analytics Opportunities and Technologies
    • Analytics in Store
    • Back-end Analytics
    • Business Intelligence Technologies
      • Table figure 1: Business Intelligence Technologies
    • Data Collection Technologies
    • Data Processing and Data Centre Infrastructure Technologies
    • Vendor Overview
      • Table figure 2: Big Data Software and Hardware Stacks
  • Retailer Usage Cases
    • Macy's 360 degrees view of its customers
    • M&S runs analytics on Hadoop and uses visualization tools
    • John Lewis relies on real-time operational insights
  • Implementing Big Data Strategies in Retail
    • Big Data Opportunities
      • Table figure 3: Retail data sources and flow
    • Key Challenges
      • Table figure 4: Key business challenges impacting retailers in adopting big data & analytics
  • Market Opportunity
    • Big Data in Retail - Global Market by Technology
      • Table Global market for big data in retail by technology - spending in US$m
      • Table Global market for big data software in retail by technology - spending in US$m
      • Table figure 5: Software and services driving big data growth in retail (US$m)
      • Table Software and services driving big data growth in retail (US$m) 2016 2018 2020
    • Big data in retail - Global Market by Retail Segment
      • Table figure 6: Global market for big data technology by retail segment - spending in US$m
      • Table Global market for big data technology by retail segment (US$m)
      • Table figure 7: Technology adoption curve by retailer type and country
    • Big data in retail - global market by retail channel
      • Table figure 8: Global market for big data technology by retail channel - spending in US$m
      • Table Global market for big data technology by retail segment (US$m)
  • Future of Big Data in Retail
    • Latest Technologies
    • Retailers' IT budget allocation and IT priorities
      • Table figure 9: Usage of business intelligence solutions
      • Table Key demand and supply side trends driving big data in retail
      • Table figure 10: Driving forces behind retailers' big data strategies
    • Opportunities for ICT vendors
      • Table figure 11: Key opportunities for IT vendors catering to the big data in retail market
  • Advice for ICT Vendors and Retailers
    • Advice for ICT Vendors
    • Advice for Retailers
  • Appendix
    • Definitions
      • Table Retail categories
      • Table Retail channels
      • Table IT Domains (1)
    • Further Reading
    • Contact the author

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