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What Digital Transformation Means to Retailers | @ThingsExpo #DX #IoT #M2M

Retailers are closing stores at a record path and the driving force behind the acceleration in store closings is Amazon

A recent BusinessWeek article titled “America’s Retailers Are Closing Stores Faster Than Ever” summarizes the epidemic that retailers are facing today (see Figure 1).

Figure 1:  Growing Epidemic of Store Closures

Retailers are closing stores at a record path and the driving force behind the acceleration in store closings is Amazon, who now accounts for over 50% of all on-line retail sales (see Figure 2).

Figure 2:  Amazon’s Growing Dominance of e-commerce; source:  “Competitors Can’t Keep Up With Amazon’s Growth

What are retailers to do when the tricks and techniques that worked in the past just don’t work in today’s real-time data and analytics driven business world?  Business models that worked in a world that valued size and location quickly fall apart in a world where retailers are leveraging customer, product and operational data and analytics to provide a highly personalization shopping experience and anticipate customers’ shopping desires to provide a wider range of highly-relevant, and easily accessible products (think Amazon 1-Click®).

Check out my interview on DealCrunch titled “How Dell EMC Helps Retailers Realize the Value of Their Data by Analyzing It to Predict Business Outcomes and Improve ROI” that discusses how retailers can take advantage of their customer, product and operational data to compete in this real-time, predictive retail world to optimize key operational processes, reduce security risks, uncover new revenue opportunities and provide a more personalized, more prescriptive customer experience from research and selection to product usage.

The post What Digital Transformation Means To Retailers appeared first on InFocus Blog | Dell EMC Services.

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More Stories By William Schmarzo

Bill Schmarzo, author of “Big Data: Understanding How Data Powers Big Business”, is responsible for setting the strategy and defining the Big Data service line offerings and capabilities for the EMC Global Services organization. As part of Bill’s CTO charter, he is responsible for working with organizations to help them identify where and how to start their big data journeys. He’s written several white papers, avid blogger and is a frequent speaker on the use of Big Data and advanced analytics to power organization’s key business initiatives. He also teaches the “Big Data MBA” at the University of San Francisco School of Management.

Bill has nearly three decades of experience in data warehousing, BI and analytics. Bill authored EMC’s Vision Workshop methodology that links an organization’s strategic business initiatives with their supporting data and analytic requirements, and co-authored with Ralph Kimball a series of articles on analytic applications. Bill has served on The Data Warehouse Institute’s faculty as the head of the analytic applications curriculum.

Previously, Bill was the Vice President of Advertiser Analytics at Yahoo and the Vice President of Analytic Applications at Business Objects.

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