The collaboration community will provide a vast amount of data that provide a great deal of value to the retail host from the research and analysis opportunities. This big data analysis will provide the greatest opportunity for return and value on a continuing basis as long as the collaboration community remains active. The value from this data will be derived throughout the retailer’s business by providing real time data based on real life responses from a wide variety of sources. As the community grows, the data available for research will increase, providing the basis for continued benefits in product and services developments and offerings.
It is a generally accepted concept that big data provides value through the combination and analysis of vast amounts of data. The trick to realizing this value is a pipeline that provides the data to feed the analysis. This is where the collaboration community comes into the picture. The collaboration community platform and framework provides this pipeline of data in a continuous stream. This data allows for an immediacy of analysis to confirm results and hypotheses that will become invaluable to the retailer and each of the retailer’s partners. The response and the data collected from the collaboration community will provide value and return to the entire retail supply chain. This is where the long term value will come into play.
There are two factors that provide the basis for long term value:
- The data collection will build as the community grows and as the retailer host identifies research and analysis opportunities.
- The collected data can be easily modified to increase the types of data points collected as the analysis suggests additional research opportunities.
The big data analysis will provide the long term return from the collaboration community and this value will continue to grow as the community grows.
The beauty of this opportunity is that you can begin the collection of the data with a very low budget and investment to simply capture the data in the cloud. This can then easily be expanded over time and provides the data to mine as necessary in the future. This aligns perfectly with the strategy to begin the community utilizing cloud tools and services with a low level of investment. As the community, membership and participation grows the data analysis opportunities and value will grow. This will allow for low initial investment while still providing the opportunity for future expansion and data utilization and analysis when the time and the business needs warrant.
And now for the audience participation portion of the show…
ECommerce will have wide ranging impacts on both the retail and manufacturing sectors. How can you focus these abilities to improve the consumer's experience? Improving the consumer’s experience will require a re-evaluation of the sales channels, the manufacturing channels and practices and the supply chain channels and practices from the raw materials to the consumers’ homes. In order to ensure and maintain success in this new reality you must harness the tools and capabilities in many new areas. How can you support these continuously changing requirements?