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Home » Retailers Know Some of Their Collected Data Is Useless - But Which Part Is That?

Retailers Know Some of Their Collected Data Is Useless - But Which Part Is That?

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November 3, 2015
Forbes

The problem is similar to the oft-quoted adage "I know that half my advertising is wasted. I just don't know which half." Retailers know that some of their customer data is completely useless. They just don’t know which parts. And the sad part is, it’s probably more than half.

However, for all of retailers' current focus on collecting consumer data, there are several trends in play in retail today that suggest the race should not be about collecting consumer data, it should be about figuring out – and rapidly discarding – consumer data that has no value, in favor of focusing on consumer data that actually has an impact on the business. In other words, it's not about who has the most consumer data, it'll rapidly be all about who can use the right data to drive the biggest business results.

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Technology Business Strategy Alignment Global Supply Chain Management Retail
KEYWORDS big data analytics Business Strategy Alignment consumer data Forbes Global Supply Chain Management Retail retail IT Retail Supply Chain Management Supply Chain Analysis & Consulting supply chain IT Supply Chain Management: Retail Technology
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