SAP retail chief: Why more retailers need to harness data differently
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“Yet with SAP’s 2018 Digital Transformation Executive Study finding just 3 per cent of retailers have completed digital transformation projects, most of which focused on efficiency and cost cutting, there’s clearly still a long way to go before brands successfully harness digital for more disruptive innovation in the retail experience.
Again, however, only a small percentage of data is being used by retailers in decision making. While these organisations tend to collect as much data as they can, squirrelling away for future use, they’re still not able to ascertain its significance, Schneider agreed.
An example is Adidas in Russia, which used existing cameras plus RFID readers and RFID tags on garments and products to improve real-time inventory accuracy in its physical store from 60 per cent to 99 per cent. Adidas is now looking to rollout the approach globally.”
