Retailers already know how to use customer data to run their brick-and-mortar operations. And they’ve been digging through reams of website analytics for at least a decade now. But data didn’t really get “big” until an explosion in smartphone use and social media addiction, resulting in the need for more agile, relevant marketing.
Thanks to consumers’ increasing use of mobile devices and social media, the volume and variety of data points continue to mushroom at a dizzying pace. What are the challenges and opportunities around leveraging Big Data, and how can retailers put together a plan to harness its power?