I am excited to share with you an upcoming webinar “From Data Tsunami to Actionable Insights: Empowering the Enterprise.” This event, which is hosted by SAP EcoHub and features Retail on BPX, and SAP BusinessObjects Analytics in retail will cover the timely need for retailer to empower the enterprise so as to take confident and timely actions amidst the expanding sea of data.
Historically retailers have had a wealth of information residing in their point of sale systems and the growth of loyalty programs over the past two decades. The addition of e-commerce sites continued to add to this customer and product relationships and data. Current trends in social media, mobile-, and e-Commerce are creating further challenges by generating a whole lot of new data (1200 Exabyte in 2010) – structured and unstructured, based on actions and non-actions – while adding to the complexity of integrating all of this information in a Using Business Intelligence in an Uncertain World. How will you untangle all this data and take steps to prioritize and make sense of it? What metrics will you use to evaluate and act on this new data? Can you incorporate that with your existing merchandising and planning decisions, your supply chain processes, and in store operations?
Information is transforming traditional business and creating new business model opportunities, even cutting the role of the middle man. Consider the recent ‘opening’ of New York’s Fashion Week with live streaming on the web and fashion’s haute couture labels appealing directly to consumers: imagine the opportunities flowing from this new interaction and the resultant data; or the impact on the labels’ existing supply chain. At the same time, consumers are more willing to share certain data (such as location) in exchange for more context-aware relevant advertising and couponing. Retail analysts, such as RSR, have also called for the personalization of the customer experience not just on the web but also in the store. Such personalization requires an understanding and integration of the available data and a fresh approach to engaging tech-savvy customers.
The competitive landscape is sure to feel the impact of this flood of data with new entrants leveraging social media as a starting point in building their business as selling has become social and users are connecting more with brands. In addition to traditional approaches on Twitter and Facebook, established brands are also experimenting in novel ways to leverage social media.
For those enterprises eyeing faster retail growth through expansion to international markets such as China, India, or Brazil will face further data challenges – imagine the amount of data, not only sales but also socially-derived, based on a projected retail sales in China of USD $3.2 Trillion by 2013 (compare to annual historical U.S. retail sales).
With this as backdrop, our panel of experts will discuss:
- How to make sense of the Data Tsunami
- Models to consider new types of data coming out of the dynamic consumer-product relationship
- How to achieve visibility across your enterprise
- How enterprises can switch from static data representations to delivering actionable and dynamic data at the right time to the right user
- Richard Hastings, noted retail strategist of Global Hunter Securities, LLC and a regular on CNBC
- Russ Hill, SAP Senior Director, Global Retail Industry Marketing
- Mechelle Stone, SAP Senior Retail Solution Engineer
- Mohamed Amer, SAP Vice President Trade Industries
See you there and bring your questions!!!