Data as a Strategic Asset
In the rapidly changing retail industry, data as an enabler to insights and growth has become a fact. Based on the client’s situation, a strategy was developed where data was considered as the main strategic asset for further efficiency and improved customer experience. The strategy outlined how culture, people and technology come together to get the true value from data.
The retail landscape is changing rapidly. Digital transformation that is sweeping the retail industry would not be possible without data. Data is the enabler of new technologies, solutions, and business opportunities. It is important to understand the value of data, how to work with it in improved ways and how to manage it.
“The key enabler for efficiency, growth and improved customer experience is data”
Purpose of the assignment
The client was driving business change and innovation and to do this better they need to improve how they work with data as an asset. This includes obtaining data from the greater ecosystem, capturing and generating data from within, and utilizing it.
Influence Tech developed a strategy highlighting the client’s vision in relation to their challenges, current gaps and outlined initiatives to obtain benefits. The strategy did not only address data as an asset, but how culture, people and technology come together to get the true value from internal and external data.