About this video series:
From data analysis to mobile networks and cross-channel integration, retailers and brands face decisions on myriad innovative retail technology solutions today. The benefits can be game-changing, but it's too easy for decision-makers to become distracted by features that may not contribute to business performance or growth. In this set of seven RetailWire thought leadership videos, sponsored by Oracle Retail, you'll hear from four experts who have made careers out of helping retailers and brands apply technology in ways that support their company missions. Watch each new video as we explore the theme of "Delivering On Your Brand Promise" from different retail tech vantage points.
There's no denying the massive influence of Big Data on retailing today. In a recent survey of C-level retail execs by Oracle, 90 percent said their organization is collecting and managing more business information today — 98 percent more, on average — than two years ago.
How are retailers dealing with this "data deluge"? Interviewed on the topic for our new video series, retail consultant Mark Heckman said he believes, "Many companies are still struggling." The Oracle study supports that: 30 percent of retail executives give their organization a "D" or "F" in preparedness to manage the data deluge. And yet there's recognition of the potential benefits as 93 percent believe that as a result of failing to fully leverage the data they collect their organization is missing out on revenue opportunities — as much as 10 percent of revenue per year.
In this first in a series of thought leadership videos focusing on "Delivering On Your Brand Promise," four RetailWire BrainTrust panelists consider the current state of Big Data in retail and cite retailer examples that give a glimpse of the future is leading for companies taking progressive steps.
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