Metadata
- Author: Nicole DeHoratius, Andrés Musalem, Robert Rooderkerk
- Full Title:: Why Retailers Fail to Adopt Advanced Data Analytics
- Category:: 🗞️Articles
- Document Tags:: Data team vision and mission
- URL:: https://hbr.org/2023/02/why-retailers-fail-to-adopt-advanced-data-analytics?ab=hero-subleft-2
- Finished date:: 2023-02-28
Highlights
Even as Walmart, Amazon, and a few other leading retailers operate at the leading edge of the analytics frontier, making many important decisions based on an ever-growing supply of real-time and historical data, most of their competitors still use very basic tools that are far better able at tracking where they’ve been than where they should be going. (View Highlight)
In grocery retail, for instance, McKinsey estimates that implementing advanced analytics would add 2% to grocers’ earnings — a potential windfall for a tough, low-margin business. (View Highlight)
Is data important?” one interviewee told us. “Everyone says yes. If you ask why, many don’t know (View Highlight)
What they need most are employees who can bridge functional gaps (View Highlight)
Respondents told us that their biggest problem was data quality and data management: Data is often siloed in various places around (View Highlight)