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19


The digital industrial revolution transforming retail


how big data is By Michael Ross co-founder and chief scientist at DynamicAction


T


he retail landscape is undergoing a seismic scale of change. While some retailers are doing well, with a great proposition, fantastic execution and strong leadership,


many more are struggling. But anyone (with the exception of Amazon) who claims to be in control is deluding themselves. It is only when you hit a road bump that the illusion of control crumbles away. When the world is so complex and is


changing so quickly, a lack of control can quickly translate into a business problem. As soon as things get worse (and they always do)


leaders have no idea what’s actually driving performance. The answer is in the data, but that doesn’t


make it easy to manage. Many retailers are still making the same decisions, in the same organisational silos, with the same logic and on the same frequency they’ve always done. They are then surprised that nothing changes. The retailer of the future must think


differently. At the core of this change is the need to re-engineer decisions – to rethink some of the fundamentals of retail. Big data provides the raw material for navigating this change.


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