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Barriers in Applying Analytics in a Retail Company

The Retail industry is very competitive. Retailers need to apply analytics to analyze consumer behavior and retain them. Predictive Analytics help retailers to predict the response of customers regarding new offer, discount or product. But barrier of culture and stage fright, stop them to apply big data analytics.

Leslie Dinham (Teredata) in her article "two ways retailers are overcoming barriers to analytics adoption," talks about solutions to these barriers or adoption blockers. They are:

Barrier 1# Culture is the culprit: Employees get rigid due to working in the same culture, performing same job or duties. They don’t want to change their decision making process and roles. It becomes difficult to apply data analytics in this culture. The solution to this problem could be informing employee about the benefits of using data analytics and provide necessary training.

Barrier 2# Stage Fright: Many times, retailers won’t get success while applying analytics in their organization because they won’t able to choose the right team, tool or technology, won’t able to integrate new analytical capabilities into operations or the culture of the organization is not innovative. Paying attention while applying analytics in these things can help organizations to successfully apply analytics.

To know more about these barriers and solution to them, read an article at: http://www.forbes.com/sites/teradata/2015/05/13/two-ways-retailers-are-overcoming-barriers-to-analytics-adoption/

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