Big Data ReportRetail Technology Report

Big Data in Retail - Thematic Research

Big Challenges ahead for Retailers’ Big Data Journeys

Big data provides retailers with various opportunities for gaining competitive advantage. However, this is not as easy as it sounds. Retailers often do not know where to start when embarking on the big data journey.

Before the choice of specific technologies and vendors is considered, it is important to have a clear business plan behind any proposed big data strategy. It should be linked to overall business objectives rather than tech-driven solutions favored by some CIOs.

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  • What you will discover
  • The amount of digital data stored in the world grew relatively slowly until about 2010, at which point it took off exponentially. It is still growing at a compound annual growth rate (CAGR) of 24%. Cisco forecasts global IP traffic to rise from 121 EB/month in 2017 to 278 EB/month by 2021.
  • BDA typically has four dimensions – High Volume (there is lots of it), High Velocity (it needs to be analyzed quickly), High Variety (it comes in many different formats) and High Veracity (it can be difficult to understand).
  • Big Data Growth drivers – The Cloud, IoT, AI, ML, Robotics, VR, AR, Cybersecurity and so on, are the big investment themes of tomorrow and they all have one thing in common: they generate huge amounts of data.
  • Ever since BDA, the world’s 300 or so hyperscale data centers that form the internet’s brain are under remorseless pressure to upgrade their IT infrastructure.
  • Optimizing latency is the biggest challenge facing hyperscale data centers. The next big thing in data center technology is silicon photonics – the transfer of data between chips using rays of light. In theory, silicon photonics enable computing at the speed of light.

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The report highlights the latest trends in the big data theme and the key drivers behind the worldwide growth in big data

Major business challenges can be overcome by introducing a Big Data solution that is tailored to each retailers’ needs. Big data provides endless opportunities for analytics within retail organizations including real-time in-store analytics, web analytics for e-commerce sites, as well as supporting back-end and cloud-based resources.

This report identifies the leading technology players, who should benefit from the emergence of BDA, as well as the leading retail players with advanced BDA solutions.

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