| |OCTOBER 20218ith a major portion of the time involved in contribution for big data analytical architecture and driving implementations for enterprises of large scale, he has proved his worth for business development with technical intervention.While retail has always been a fast-moving and constantly changing industry, the disruptions caused by the COVID-19 pandemic have upended its every facet. In this dynamic environment, the `shop' is never closed, making it imperative for industry players to pivot to an omnichannel approach that combines physical stores, e-commerce, and virtual showrooms ­ all in a non-stop timeframe.In this scenario, the retail industry must look to adopt Business Intelligence (BI) solutions that leverage emerging technologies such as Machine Learning (ML), Artificial Intelligence (AI), and Data Science to streamline their processes, be efficient and remain profitable. BI and analytics help retailers gain actionable insights from the vast sea of data available and devise strategies to attract and retain customers.With data at the heart of everything, leveraging BI to tap into the right information at the right time can help retailers make informed, data-driven decisions. Through BI, companies can create a single source of truth that integrates data coming from all systems and channels. This enables to identify any correlation between datasets that were previously siloed. By generating insights from this single source of truth, companies will be in a better position to create robust business plans. These solutions provide deeper insight into multiple areas, whether it is sales, marketing, supply chain, or inventory management.Visual Analytics- Simplifying Data ConsumptionBI allows retailers to visualize their tremendous amount of data in a concise manner and correlate multiple factors. For example, companies can visualize and know the hidden trends and discrepancies of their sales process and make the right changes. Another practical example of how IN MY OPINIONWAI POWERED BUSINESS INTELLIGENCE: THE NEXT CRITICAL STEP IN RETAIL SECTORBy Rajesh Murthy, VP, Intellicus TechnologiesExperienced in big data analytical architecture and implementations for renowned companies and contributing to the growth of business
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