FEATURES Figure 6-1 In-Memory Computing Cycle
This faster, different approach to analysis is made possible by technology advancements in three areas:
Moore’s Law1 results in significantly faster processing speeds and rapidly declining memory prices;
The mainstream availability of 64-bit processors raises the amount of memory a computer can utilize. A 32- bit processor can use a maximum of 4 gigabytes of memory, whereas a 64-bit processor can use 18 billion gigabytes—a factor of 4 billion more.
Hardware manufacturers have shifted from favoring a few fast processors to a multicore architecture that utilizes multiple lower-power, lower-speed processors working in parallel.
Using In-Memory to Become More Customer Centric Consider the kind of customer-centric information
Source: SAP Precision
relevant, useful data. The data must then be organized, combined and otherwise managed so that the right pieces of information are brought together to form a complete and rich picture—a view of a single consumer, group of consumers, the competition or suppliers. In the next step, analysis, sophisticated algorithms may be used to perform predictive analysis, modeling, scenario planning and more. The resulting real-time information must react the right people who make the right decisions, yielding actions that affect a transaction or behavior.
The Power of In-Memory Computing In-memory computing combines a flexible,
multipurpose, and source-agnostic in-memory appliance, powerful software and optimized hardware. Storing and analyzing data in local memory, in-memory computing eliminates latency issues related to transferring and loading data from the disk. Unique memory-optimized data structures mean faster processing with no boundaries on volume, granularity or timeliness of data. The results of these complex analyses and transactions affect decisions related to pricing, promotions, spot purchases and more. With in-memory computing, retailers can instantly
explore and analyze all transactional and analytical data from virtually any source. Operational data is captured in memory as business happens, and flexible views can rapidly expose analytics based on customized key- performance indicators. External data can be added to analytic models to expand real-time analysis across an organization.
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captured at the time of purchase: the line items, combination of products purchased, pricing information, payment method, store location and so on. The amount of data accumulated during a single customer transaction is staggering, but consider how much these data grow when accounting for all transactions in all stores over a full year. Storing and managing big data in real time is great, but the real game-changing moment happens while deriving business-focused insights based on those data. Without the full context made available by millions of transaction records, these insights would never be made. The only way retailers can know their customers and
deliver the right merchandise to the right place at the right time is by capturing these historical data in-memory. Only then can data become insights, and insights become actions.
Access Precise Data to Make Informed Decisions In processing and consolidating massive amounts of
data from multiple sources, people are empowered with the information they need, at the level of detail they need, when they need it. For example, real-time, what-if analysis can help a perishable-food buyer determine the projected profitability of additional pallets of produce, or decide whether a discounted exotic vegetable is a worthwhile investment. In-memory computing can remind customers of a gift card or promotion from a previous shopping experience. Real-time insight can be gained into stock availability, down to the shelf level, automatically alerting employees to restock shelves and avoid out-of- stock situations. Furthermore, results can be used to
1 An observation, made by Intel co-founder Gordon Moore, that the number of transistors and resisters on a chip doubles every 24 months. INTERNATIONAL COUNCIL OF SHOPPING CENTERS
RETAIL PROPERTY INSIGHTS VOL. 20, NO. 1, 2013
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