Data is described as the new oil of retail. E-commerce giants such as Amazon have leveraged data to deliver exponential growth, which shows no sign of abating. The pandemic-related changes in shopping behaviour have only accelerated the evolution. Data is not new to retail and retail business leaders have been using it to drive decision making for many decades. Yet, even though the topic has been widely discussed for years, many companies still have plenty of scope for improvement in order to fully benefit from data insights. The pandemic has further expedited the growth of data volumes, and not all retailers were ready for that to happen. Even if they had the right tools and systems to collect data in place, they often failed to take full advantage of its value

Most organisations have a general idea as to why they should collect data, but this doesn’t always result in a fully fleshed out data strategy.  This Data in Retail Report highlights the following key steps to create a robust plan in helping you to consider the types of data relevant to your business as well as sources and channels that deliver it.

Download this Data in Retail Report to learn more about the smart use of data and how it can be an important differentiator in multiple areas of any retail business.

In it, you’ll discover:

• The types of data you should collect,
• How to effectively gather data insights,
• How leading retailers have leveraged data insights to increase business success,
• How to avoid common mistakes retailers make in exploiting data.

If you’re looking for ways to better leverage data within your organisation, make sure to get in touch with our team at Objectivity. Our experts will analyse your specific business case and look for solutions in a complimentary initial workshop.