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Just How Important Is Big Data for Retailers?

In a competitive business landscape like retail, access and usage of big data is a source of competitive advantage. In the past, entrepreneurs relied on intuition to make marketing decisions. Now, data rules how commerce is being done.

According to David Pittman, one use of big data is to predict trends and prepare for future demand. Big Data can also be used to optimize pricing models.Retail companies need to be always up to date with the needs and wants of their customers whichever channels they may be, so that they can innovate and be ahead of their competitors.

Source: smartdatacollective.com
Author: Jonha Revesencio

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