Modern technology has transformed the way corporations collect retail data. As a result, the experience of shopping is unlike it ever was before. Technology has changed the way businesses operate. Because the customer has a more direct hand in the way transactions are processed, more companies are taking a customer-centric approach.
Being customer-centric means the customers wants and needs are everything. To identify those wants and needs, you have touse data. Data allows us to take general information about an individual, categorize everything into a sample size of the average customer and create new ways to cater to them specifically. Because of the shifting demands of the customers, the market is constantly changing. Businesses need to keep up with the change and stay ahead of the curve or risk losing their customer base to competitors.
Author: Nathan Sykes