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THE DE-SILOFICATION OF DATA IN RETAIL

Published: Thursday, October 24, 2019

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Across the retail sector, there are three fundamental shifts that need to occur in the digital transformation journey. The first is the rise of the empowered consumer. The second is the omni-channel development of the agile supply chain. The third is the changing role of the store, which must focus more on engagement and creating an experience for customers. 

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    Across the retail sector, there are three fundamental shifts that need to occur in the digital transformation journey. The first is the rise of the empowered consumer. The second is the omni-channel development of the agile supply chain. The third is the changing role of the store, which must focus more on engagement and creating an experience for customers. To achieve this, the de-silofication of data is essential, ensuring the retail operation is faster, smarter, and more customer centric.

    These fundamental shifts have had a marked impact on both the global and local retail sectors. This is underpinned by digitally empowered consumers who have changed the face of retail forever. The agile supply chain means that major “perks” like immediate shipping and free returns are now the new normal for customers. These shifts also mean that retail stores are no longer a place just to buy products. Despite being primary sales channel, stores are transforming into customer engagement centers and critical supply chain hubs.

    To keep pace with these shifts, retail must do business in a new way. “In today’s data-driven economy, analytics have become essential to competitive edge. However, one thing is stopping many retail organisations from taking full advantage: silos. We must connect fragmented data, people, and ideas to succeed in the global digital ecosystem,” states Kree Govender, Managing Director at SA Qlik.

    With de-siloed data, businesses gain access to powerful, trustworthy insights, empowering them to make business decisions that make a difference. According to Paul Winsor, Director: Retail Market Development, Qlik EMEA Region, new store technology breeds new insight. “Retailers thriving in this complex new world are responding with agility to these three major shifts in the retail landscape,” states Winsor. “To succeed, retail organisations must realise that analytics must be an integral part of the decision-making process. Using visual analytics in retail holds four key benefits: increased revenue; reduced costs; improved governance; and improved operational excellence.”

    A key consideration in this de-silofication process is moving from "all data," to "combinations of data," to "data insights". To achieve this, data literacy and augmented intelligence play a fundamental role in creating a data-driven culture. “To develop the data-driven cultural organisation, information must be tailored to the business process. Role specific apps are required to ensure different employees, managing different processes are sufficiently supported. To succeed, this shift requires that complexity is reduced as user population increases,” concludes Govender.

     

    Issued by Perfect Word Consulting (Pty) Ltd

    For more information, contact perfectword@trinitas.co.za.

     

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    About Qlik  

    Qlik® delivers intuitive platform solutions for self-service data visualization, guided analytics applications, embedded analytics and reporting to approximately 40,000 customers worldwide. Companies of all sizes, across all industries and geographies, use Qlik® solutions to visualize and explore information, generate insight and make better decisions. At Qlik, we optimize Business Intelligence (BI) by harnessing the collective intelligence of people across an organization. We focus on empowering people—by enabling everyone in an organization to see the whole story that lives within their data.

     

    About SA Qlik

    SA Qlik (previously known as QlikView SA) aims to accelerate growth for Qlik in Southern Africa directly or through its specialized Partner channel.  SA Qlik’s portfolio of products meets customers' growing needs from reporting and self-service visual analysis to guided, embedded and custom analytics. Over 1800 customers rely on Qlik solutions to gain meaning out of information from varied sources, exploring the hidden relationships within data that lead to insights that ignite good ideas.

    These solutions bridge the gap between traditional BI solutions and inadequate spreadsheet applications. The in-memory associative search technology that Qlik pioneered, pioneered the self-service BI category, allowing users to explore information freely rather than being confined to a predefined path of questions. Appropriate from SMB to the largest global enterprise, Qlik’s self-service analysis can be deployed with data governance in days or weeks. The platform’s app-driven model works with existing BI solutions, offering an immersive mobile and social, collaborative experience. Headquartered in Radnor, Pennsylvania, Qlik does business in more than 100 countries with over 40,000 customers globally. For more information, please visit www.saqlik.com.