Enhancing Retail Industry through Cloud Technology

By CIOReview | Monday, May 28, 2018

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The retail industry has come a long way technologically, compared to what it was in early 2000. The power to make the difference has shifted from the seller to the buyer in tandem with the resounding success of the Internet. Customers today leverage digital technologies to gain information about products from an array of sources before making a purchase. The advent of informed buyer has forced retailers to invest in technology to showcase the right product to the right buyer and take a proactive stance in engaging the audience in an omnichannel manner. Cloud is one such technology which the retailers are planning to invest, recognizing its continuous advances and better outcome in various sectors.

By enabling cloud, retailers are able to provide a digital experience to customers with reduced costs. With cloud, retailers can obtain insights through data analytics by analyzing data acquired from a myriad of sources, including, search engines, social media and e-retailers. Moreover, by analyzing these data, retailers are able to make better decisions based on the customer interests. Additionally with the recent availability of technologies such as retail as a service, retailers can enable real-time tracking in stock availability, stock orders and delivery details promoting less maintenance cost. All these developments demonstrate the influential role of cloud in the transformation of the retail industry.