While yesterday's five-and-dimes were made with touchable, material bricks, the stores of tomorrow will be constructed in the cloud on building blocks of data. Data will drive customer experiences that transcend physical limits and redefine the very notion of a store. Long lines, store hours and cash payments will dissipate in a new data-driven ecosystem of always-on relationships.
Every department of every retail organization should be collecting, analyzing and leveraging data to enhance the consumer experience. New types of business data are becoming available daily — from digital to store to beacon to social. To compete, retailers must shift away from disconnected data silos toward connected data graphs. . . . more