big data

data collected in a retail store

How Useful is the Data Collected in a Retail Store?

How much data does your store collect every day? More importantly, how is that data used to help your store improve its sales, systems and services?

For many retailers, the answers to these questions are unclear. Does that sound like you?

The Internet of Things (IoT) is one of the hottest buzzwords in retail right now. In its simplest definition, it is the connection of one device to another. Usually, data (commonly referred to as “big data” because of how much information is gathered) is collected alongside this connection to improve retail store decision-making.

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The question many retailers are now asking is, how useful is the data collected in a retail store and what type of data should you be gathering?

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A Straightforward Explanation of the Internet of Things in Retail

You’ve probably heard the terms before. “Internet of Things” and “big data” are often used in conversation about work, home life, and your business. But what do they really mean? More importantly, how can they help you?

Retailers are often overwhelmed by this new technology. Although it sounds enticing on the surface, imagining the implementation of it is a little tricky.

If you’re looking for a simplified explanation of these and other terms specific to your retail business, look no further.

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