Only data-savvy retailers will survive in tomorrow’s market


Today’s big data-driven marketplace only has room for the fittest.
This sounds a little scary, I know. For a long time, mastering the art of accurate and effective number-crunching was no small feat. Over the last decade, machine learning has grown and matured from a flashy high-tech tool to a business essential. But too many retailers still fail to acknowledge the incredibly positive impact artificial intelligence (AI) and big data can have on their businesses and are suffering as a result of their sluggishness.
AI is no longer an angsty teenager waiting to be taken seriously. It is fully grown and powerfully important. The sooner retailers understand this, the sooner they can leverage its advice and insights to their benefit — and there are a LOT of those. I’ll get to that in a minute, but first I need to make one thing clear. Investing in AI is not a luxury, it is something all retailers must do if they want to survive — and thrive — in today’s tech-savvy market.
Until now, most companies who (wisely) chose to take the plunge and invest in big data did so by outsourcing the work. While still a viable option, outsourcing is no longer the only choice for AI newcomers. As machine learning becomes more ubiquitous, its developers are working to make it more accessible to everyday employees who aren’t necessarily trained in extracting information from data. This is where the term digital insourcing becomes important. In short, it means that your trusted employees use offsite software subscriptions to make informed business decisions with ease and clarity. It is empowering, and retailers across a huge range of industries are taking notice

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