Retailers, who have the widest stores of data available among marketers–thanks to those ringing registers, e-commerce sites and inventory management systems—are not sure they are using data constructively, according to an Economist Intelligence Unit report. Check out some of the results of the study, “The data storm: Retail and the big data revolution.”

1. The data storm:
Retail and the big data revolution
Source:“ “The data storm: Retail and the big data revolution.”
Economist Intelligence Unit, survey of c-suite retail executives, sponsored by Wipro

2. The top uses of retail data are marketing-related
Source: “The data storm: Retail and the big data revolution”
Economist Intelligence Unit, survey of c-suite retail executives, sponsored by Wipro
In which areas do you see big data analytics yielding the biggest gains?
Brand loyalty 64%
Multi-channel sales 54%
Pricing 30%
In-store experience 28%

3. of c-suite retailers think data is
delivering the sales boost they
expect; the same number don’t
see it delivering consistent value
30%
But accountability remains an issue
Source: “The data storm: Retail and the big data revolution”
Economist Intelligence Unit, survey of c-suite retail executives, sponsored by Wipro

4. Contact center data
Collect 32%
Collect and analyze 40%
Plan to collect 12%
Don’t collect 16%
Location based data
Collect 34%
Collect and analyze 44%
Plan to collect 10%
Don’t collect 12%
A lot of useful customer data gets collected
but much of it goes unused
Source: “The data storm: Retail and the big data revolution”
Economist Intelligence Unit, survey of c-suite retail executives, sponsored by Wipro

5. But Big Data can help sales
Source: “The data storm: Retail and the big data revolution”
Economist Intelligence Unit, survey of c-suite retail executives, sponsored by Wipro
Which of the following has big data enabled you to do?
Expand sales by recommending the next logical item 52%
Make multichannel customer tracking more profitable 50%
More effective seasonal pushes 42%

6. 72%
can’t say if more
personalization would
alienate their customers
The problem could be retailers traditionally focused too
much on sales, not enough on the customer
Source: “The data storm: Retail and the big data revolution”
Economist Intelligence Unit, survey of c-suite retail executives, sponsored by Wipro
Only 20% say their companies have made customer relationship management a
priority, and only 16% think data gives them a 360-degree view of the customer.

7. “Retailers can largely be
segmented into ‘haves’—the
people who know their
customers by name, address
and what they’re buying and
not buying from them—and
‘have nots’ who simply know
what they’re selling.”
Richard Baker, chairman, DFS
Source: “The data storm: Retail and the big data revolution”
Economist Intelligence Unit, survey of c-suite retail executives, sponsored by Wipro
Data has reshaped retailers,
but only a few are using it in full

8. To download the full
report, “The data storm:
Retail and the big data
revolution,” go to
http://bit.ly/1caUjqe
Check out more insights, research and viewpoints from marketing
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