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With 2018 leaning towards a prosperous future for consumers and cloud retailers, it a good sign that more and more people are ready to make their business cloud oriented. However, CoreIT finds that the actual challenge lies with meeting consumer demands which is intensifying the competition in the market for retailers.
With forecast of retail sales to reach $117 billion as per National Retail Federation (NFR) this holiday season, cloud is set to play a huge role in the following year of 2018. Enterprises have also opened up to the possibility of an automated, cloud-based industry leveraging on efficiency, growth and market competition. Here are some crucial points for retailers who can benefit from cloud in the year of 2018.
Competitive edge: There is a tremendous amount of digital transformation occurring in the retail industry with smart technology in the cloud. Retailers can gain a competitive advantage while meeting growing consumer demands with the implementation of technologies such as cloud and cognitive services as a strategy for productivity, development and to out-of-the-box strategies.
Cloud will also serves as a platform for cognitive capabilities that can put enterprise data to work by researching and leveraging on insights that deliver new game plans for organizational goals.
Data-oriented cloud: Retailers can plan and modify cloud platforms with predictive and cognitive analytics to forecast trends, prepare for demand, locate customers, optimize pricing and advertisings while monitoring real-time results.
Retailers can manage and quickly interpret data better than before for business innovation with additional features like machine learning that can collaborate data in the cloud. This increases the ability for retailers to predict market movements about demand for products and their pricing for a competitive edgeand also works out the best way to approach them.
CoreIT finds cloud-based data services can be useful for cognitive capabilities and enabling retailers to analyze huge amounts of data giving an opportunity for retailers to tap into the capabilities of data and be prepared for market conditions
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