Retail Big Data: Past, Present & Future

Over the past few months, you've likely heard the term “Big Data” with some frequency. But what exactly does it mean? More importantly, what does it mean to retailers? As of now, there is a lot of misinformation about what Big Data is (or isn't) and why it may impact retail. So let's begin by setting the standard definition of Big Data. They'll do this by looking at the “three V's” that define Big Data. Volume Velocity Variety ShopperTrak has been involved in delivering Big Data to retailers since long before the terminology was invented and the concept became popular. In their original strategy sessions during the formation of ShopperTrak in 1995, they realized the inherent value in amalgamating shopper traffic data for the benefit of the retail industry. To accomplish this, they needed a statistically significant sample that had volume, velocity and variety in order to ethically represent true shopper behavior on both a national and regional scale. Request Free!