The need to better integrate data analytics into nearly every facet of the conception, development, manufacture, and sales of retail goods and services has gained widespread recognition, and companies are now just beginning to truly understand the deep and long-term implications of this rapid shift.
1. Data and channel convergence are driving business model transformation.
- Does your company have the strategy and capability to make the most of your data?
- How are you using data to drive growth and innovation?
- Is your business model customer-centric?
- If you were starting your retail business today, how would you build it?
2. Executives may be overconfident in their ability to protect data.
- Do you have the right systems in place to adequately protect your data?
- Are you at risk of eroding your customers’ trust?
3. Highly optimistic companies may need to assess their ability to support and drive growth.
- Does your company have the capabilities required to support growth?
- Is your company focused on the levers for long-term growth?
- Do you have the talent and resources you will need as you grow?
4. Emerging markets continue to offer companies immense opportunity.
- Is your company exposed to the right geographies to ensure maximum benefit?
- Is your short-term emerging market growth strategy positioning you for long-term success?
5. Collaboration among suppliers and retailers is required to achieve greater transparency and agility in supply chains.
- Are you collaborating with the right partners in your supply chain?
- Do you have enough visibility and control beyond your Tier 1 and Tier 2 suppliers?
- Is your supply chain agile enough to respond quickly to change?
6. Companies are collaborating to address industry-wide issues.
- To what extent should industry be involved in setting regulations and standards?
- How is your company engaged in the creation and adoption of better industry practices?
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