When e-commerce and online retail first appeared, many people—including some experts—speculated that it signaled the beginning of the end of brick-and-mortar retailers. For a moment, there was near agreement that physical stores were a thing of the past, but this was a misconception.
As with other overblown predictions, the so-called end of retail stores didn’t happen. Instead, the industry was taken over by a new breed of tech-savvy retailers that harnessed the power of digital transformation and analytics to create unified, alluring experiences for today’s consumers. Retailers are still adapting to this new, digitally driven business model, but most are already reaping the benefits that the new digital ecosystem offers.
In this article, you’ll learn about the challenges that retailers can face in analyzing their business performance, and what they can do to improve on their data-driven initiatives.
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