|By Business Wire||
|February 12, 2014 08:30 AM EST||
IDC Retail Insights today announced a new report, Business Strategy: IDC Maturity Model Benchmark – Big Data and Analytics in Retail in North America (Doc #RI246594), which presents the results of the first IDC Retail Insights big data and analytics (BDA) Maturity Benchmark based on a study of 701 organizations including 100 non-food retailers and 100 food retailers and CPG companies. The new report is a companion to IDC Maturity Model: Big Data and Analytics — A Guide to Unlocking Information Assets (Doc #239771), and a complement to IDC Maturity Model Benchmark: Big Data and Analytics in North America (Doc #245197), which presents an overall analysis of the survey results for seven industry verticals taken together.
- ClicktoTweet: IDC Retail Insights Unveils New IDC Maturity Model for Big Data and Analytics in Retail
Big data and analytics have become top agenda items for a growing number of retail executives. Yet many retailers do not yet have mature BDA competencies across five critical dimensions — intent, people, process, technology, and data. This study presents benchmark data on the maturity of BDA capabilities of North American retailers, identifies the key capabilities that characterize retailers whose BDA programs have met or exceeded their expectations, and offers detailed guidance for achieving BDA success. In particular:
- In the broader societal and economic context of data-driven organizational cultures and emerging BDA-enabled business models, BDA will remain one of retail's top investment priorities for the foreseeable future. No stranger to massive, time-sensitive data volumes, retail is at the epicenter of emerging BDA opportunities in enterprise data, social media, digital and mobile advertizing, mobile metadata, instrumented store operations, and item-level RFID.
- Two classes of retailers are emerging, "BDA haves" and "BDA have nots," each comprising about 20% of the industry, immediately making BDA a defining basis of retail competitive advantage. With 60% falling in the middle, the structure of the retail industry will swing on the BDA capabilities.
- Retailers should invest in their BDA competencies as there is a positive correlation between BDA maturity and successful outcomes of BDA initiatives. High achievers "skew right" on the maturity curve, while low achievers "skew left." On average, higher levels of BDA maturity lead to better chances of achieving expected or greater-than-expected benefits.
- Obtaining BDA maturity is a multifaceted endeavor across five core dimensions — intent, people, process, technology, and data. Success depends on the absolute level of maturity in each dimension and on aligning the five dimensions at or near the same level of maturity.
- The top 10 traits that most distinguish high achievers extend beyond data and technology capabilities, areas that can garner inordinate priority, to include all five dimensions: mature BDA process management, executive leadership, line-of-business (LOB) utilization of BDA insights, collaborative cultures among lines-of-business and analytics groups, and skills in advanced analytics, data and content management, and management of BDA IT hardware.
Today's hype around big data ignores real challenges retailers face. IT and LOB managers in many retailers — some mistakenly — believe they have what it takes to harness the power of big data for improving data-driven decision making. However, the plethora of technology choices; the range of analytics, technology, and management skills; and the amount of hype make it difficult for retailers to prioritize resource allocations toward BDA projects and coordinate all the moving parts to successfully implement a cohesive BDA strategy. Retailers lacking mature BDA capabilities or well-conceived plans for acquiring these capabilities stand to lose ground to competitors with more mature capabilities able to deploy analytics pervasively to optimize operational, tactical, and strategic decisions.
"Many retailers today do not yet have the big data and analytics maturity to address the range of technology, staffing, data, process, and strategic intent requirements needed to capitalize on their data assets. IDC developed a BDA maturity framework to assist retailers in assessing their current capabilities and to evaluate gaps in reaching higher levels of BDA maturity," said Greg Girard, Program Director, IDC Retail Insights Worldwide Omni-Channel Retail Analytics.
For additional information about this report or to arrange a one-on-one briefing with Greg Girard, please contact Sarah Murray at 781-378-2674 or [email protected]. Reports are available to qualified members of the media. For information on purchasing reports, contact [email protected]; reporters should email [email protected].
About IDC Retail Insights
IDC Retail Insights assists retail businesses and IT leaders, as well as the suppliers who serve them, in making more effective technology decisions by providing accurate, timely, and insightful fact-based research and consulting services. Staffed by senior analysts with decades of industry experience, our global research analyzes and advises on business and technology issues facing the retail industry. International Data Corporation (IDC) is the premier global provider of market intelligence, advisory services, and events for the information technology market. IDC is a subsidiary of IDG, the world’s leading technology, media, research, and events company. For more information, please visit www.idc-ri.com, email [email protected], or call 508-935-4490. Visit the IDC Retail Insights Community at http://idc-community.com/retail.
@GonzalezCarmen has been ranked the Number One Influencer and @ThingsExpo has been named the Number One Brand in the “M2M 2016: Top 100 Influencers and Brands” by Analytic. Onalytica analyzed tweets over the last 6 months mentioning the keywords M2M OR “Machine to Machine.” They then identified the top 100 most influential brands and individuals leading the discussion on Twitter.
Apr. 24, 2017 05:15 AM EDT
SYS-CON Events announced today that Grape Up will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct. 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Grape Up is a software company specializing in cloud native application development and professional services related to Cloud Foundry PaaS. With five expert teams that operate in various sectors of the market across the U.S. and Europe, Grape Up works with a variety of customers from emergi...
Apr. 24, 2017 05:00 AM EDT Reads: 1,672
The 20th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held June 6-8, 2017, at the Javits Center in New York City, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Containers, Microservices and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportunity. Submit your speaking proposal ...
Apr. 24, 2017 04:45 AM EDT Reads: 103
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo 2016 in New York. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place June 6-8, 2017, at the Javits Center in New York City, New York, is co-located with 20th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry p...
Apr. 24, 2017 04:15 AM EDT Reads: 139
SYS-CON Events announced today that Super Micro Computer, Inc., a global leader in compute, storage and networking technologies, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Supermicro (NASDAQ: SMCI), the leading innovator in high-performance, high-efficiency server technology, is a premier provider of advanced server Building Block Solutions® for Data Center, Cloud Computing, Enterprise IT, Hadoop/...
Apr. 24, 2017 04:15 AM EDT Reads: 1,811
Amazon has gradually rolled out parts of its IoT offerings in the last year, but these are just the tip of the iceberg. In addition to optimizing their back-end AWS offerings, Amazon is laying the ground work to be a major force in IoT – especially in the connected home and office. Amazon is extending its reach by building on its dominant Cloud IoT platform, its Dash Button strategy, recently announced Replenishment Services, the Echo/Alexa voice recognition control platform, the 6-7 strategic...
Apr. 24, 2017 04:00 AM EDT Reads: 4,810
Bert Loomis was a visionary. This general session will highlight how Bert Loomis and people like him inspire us to build great things with small inventions. In their general session at 19th Cloud Expo, Harold Hannon, Architect at IBM Bluemix, and Michael O'Neill, Strategic Business Development at Nvidia, discussed the accelerating pace of AI development and how IBM Cloud and NVIDIA are partnering to bring AI capabilities to "every day," on-demand. They also reviewed two "free infrastructure" pr...
Apr. 24, 2017 02:45 AM EDT Reads: 852
In his keynote at @ThingsExpo, Chris Matthieu, Director of IoT Engineering at Citrix and co-founder and CTO of Octoblu, focused on building an IoT platform and company. He provided a behind-the-scenes look at Octoblu’s platform, business, and pivots along the way (including the Citrix acquisition of Octoblu).
Apr. 24, 2017 02:45 AM EDT Reads: 800
Everyone wants to use containers, but monitoring containers is hard. New ephemeral architecture introduces new challenges in how monitoring tools need to monitor and visualize containers, so your team can make sense of everything. In his session at @DevOpsSummit, David Gildeh, co-founder and CEO of Outlyer, will go through the challenges and show there is light at the end of the tunnel if you use the right tools and understand what you need to be monitoring to successfully use containers in your...
Apr. 24, 2017 01:15 AM EDT Reads: 1,691
Developers want to create better apps faster. Static clouds are giving way to scalable systems, with dynamic resource allocation and application monitoring. You won't hear that chant from users on any picket line, but helping developers to create better apps faster is the mission of Lee Atchison, principal cloud architect and advocate at New Relic Inc., based in San Francisco. His singular job is to understand and drive the industry in the areas of cloud architecture, microservices, scalability ...
Apr. 24, 2017 01:00 AM EDT Reads: 3,225
Data is an unusual currency; it is not restricted by the same transactional limitations as money or people. In fact, the more that you leverage your data across multiple business use cases, the more valuable it becomes to the organization. And the same can be said about the organization’s analytics. In his session at 19th Cloud Expo, Bill Schmarzo, CTO for the Big Data Practice at Dell EMC, introduced a methodology for capturing, enriching and sharing data (and analytics) across the organization...
Apr. 24, 2017 12:30 AM EDT Reads: 6,335
The explosion of new web/cloud/IoT-based applications and the data they generate are transforming our world right before our eyes. In this rush to adopt these new technologies, organizations are often ignoring fundamental questions concerning who owns the data and failing to ask for permission to conduct invasive surveillance of their customers. Organizations that are not transparent about how their systems gather data telemetry without offering shared data ownership risk product rejection, regu...
Apr. 24, 2017 12:00 AM EDT Reads: 1,049
Grape Up is a software company, specialized in cloud native application development and professional services related to Cloud Foundry PaaS. With five expert teams that operate in various sectors of the market across the USA and Europe, we work with a variety of customers from emerging startups to Fortune 1000 companies.
Apr. 23, 2017 11:45 PM EDT Reads: 1,997
Financial Technology has become a topic of intense interest throughout the cloud developer and enterprise IT communities. Accordingly, attendees at the upcoming 20th Cloud Expo at the Javits Center in New York, June 6-8, 2017, will find fresh new content in a new track called FinTech.
Apr. 23, 2017 11:30 PM EDT Reads: 2,193
SYS-CON Events announced today that Interoute, owner-operator of one of Europe's largest networks and a global cloud services platform, has been named “Bronze Sponsor” of SYS-CON's 20th Cloud Expo, which will take place on June 6-8, 2017 at the Javits Center in New York, New York. Interoute is the owner-operator of one of Europe's largest networks and a global cloud services platform which encompasses 12 data centers, 14 virtual data centers and 31 colocation centers, with connections to 195 add...
Apr. 23, 2017 11:00 PM EDT Reads: 1,606