4 Trends Driving Retailers in the New Age of Data
4. Risk management: Retailers are faced with data-related pressures such as possible data breaches and consumers’ privacy concerns. As data becomes more abundant, so are the rules regulating that data. Maintaining data compliance requires an information-centric approach. Rather than patching problems with quick-fix solutions that can be costly and time consuming, a successful data compliance strategy relies on solid processes for managing data.
Retailers of all sizes have to steer through the intersection of risk, reward and accessible data solutions to position their business for success in the new age of data. With these four trends driving them, it's become a race not only to compete, but to survive.
Anders Ekman is president of DataMentors, a full-service data quality, data management and business intelligence provider.