26/08/2021
Due to COVID, the offline retail industry had to go through unprecedented turmoil. To overcome and innovate under pressure, businesses are trying to achieve the right mix of the experience economy, in-store purchases, and e-commerce.
One of the ways to edge past competition and do better is to use Alternative Data. The data from non-traditional sources such as customer profiles, location, satellite imageries, social media, transactions, etc., would assist the businesses to make data-driven business decisions. Alternative Data has become one of the most powerful tools available to retailers. Having the ability to understand the useful signals from the trove of data is a major advantage that can make a huge difference in today’s hyper-competitive landscape and helps leaders make well-informed decisions and strategize for the future.
In the post-COVID world, businesses need to adopt innovative ways to grow in the "new normal".
Read the full report here: https://lnkd.in/ekctEUW