Dive summary:
- Many brick-and-mortar retailers are turning to big data in order to increase profits and remain competitive with online merchants, most notably Amazon.
- According to a report, economists remain skeptical of big data due to system errors which may have negative impact on the relationship with its customers.
- For many retailers now moving toward big data to interact with its customers, the inevitability of unforeseen consequences is worth the benefit of real-time analytics.
From the article:
As a retailer, you could come to the same conclusion: that the benefit of real time analytics and the enhanced shopping experience that results is well worth the inherent risk of making mistakes that produce the exact opposite result. However, if you conclude otherwise it may be hard to find an alternative.