In the current world of advanced communications, there is a significant rise in the amount of data that is generated daily. Data can come from multiple sources, such as social media, sensory devices such as thermostats, and from personal devices such as mobile phones.
These data that are generated can actually be put into use if there are effective tools in mining them. However, how do we know what data can be mined and what useful information can be gathered from them?
Friday, May 16, 2014
Friday, May 2, 2014
In our previous article, we talked about why data and analytics is important to brick and mortar retailers, and also some of the technologies available to capture these data. However, data on its own does not serve any purpose. What is more important is how these data are put to use, to reduce inefficiencies and maximize profits. Having spoken to many retailers, here are some of the ways that the data has been or can be utilized to help improve the business.