Customer Analytics: The Bedrock of the Retail “Singularity”

We’ve called for the industry to do away with the adjective “Omni-channel” when describing retail; for today, there is no other kind. Retailers must be able to deliver a consistent, seamless experience to customers, with the ability to execute based on customer-centric scenarios, rather than product or channel-centric ones. We call this the Retail Singularity. Strong customer analytics, in terms of managing internal and external data, applying proprietary and use-case specific analysis models to make sense of this data, and delivering the insights contextually to the right person at the right time, is a foundational capability in this new age of retail. Download Full...

2013 Big Data in Retail

In a short period of time Big Data has traversed a familiar hype cycle – from exuberant optimism to disillusionment. In EKN’s view, retailers will do well to focus on pertinent issues it brings into focus: Namely, the opportunity to improve customer-centric and operational decision-making by building deeper insight from a massive stream of internal and external data. However, retailers must approach Big Data as they would any other business strategy, which is to ask 3 important questions; Is this for us, how ready are we and how do we set ourselves up for success? EKN’s 2012 Big Data report was a first of its kind, detailed look at Big Data in retail. This report is based on an additional survey of 70+ retail industry executives, and includes new findings as well as comparison with those from last year. Download Full...