WHY IT MATTERS: Digital Transformation
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WHY IT MATTERS: Digital Transformation

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6 foundational shifts to build a #data #architecture that drives innovation by @McKinsey is a great summary of how it should be done

6 foundational shifts to build a #data #architecture that drives innovation by @McKinsey is a great summary of how it should be done | WHY IT MATTERS: Digital Transformation | Scoop.it
From www.mckinsey.com - January 31, 2022 8:56 AM

An agile approach to overhauling data architecture improves speed, flexibility, and innovation.

Farid Mheir's insight:

WHY IT MATTERS: I agree with those 6 recommendations.

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Harnessing the power of external #data by @McKinsey is good reminder that it is easier than ever to leverage data from outside - like weather, demographics, ... to enhance your own data & analytics

Harnessing the power of external #data by @McKinsey is good reminder that it is easier than ever to leverage data from outside - like weather, demographics, ... to enhance your own data & analytics | WHY IT MATTERS: Digital Transformation | Scoop.it
From www.mckinsey.com - January 31, 2022 8:51 AM

Few organizations take full advantage of data generated outside their walls. A well-structured plan for using external data can provide a competitive edge.

Farid Mheir's insight:

WHY IT MATTERS: after you're done enabling analysis of your internal data - from eCommerce, ERP, etc. - you should look at external data - weather, demographics, etc. - to provide context and generate useful insights.

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Info people willing to share depends on products you sell via @Activate #ecommerce #marketplace #retail

Info people willing to share depends on products you sell via @Activate #ecommerce #marketplace #retail | WHY IT MATTERS: Digital Transformation | Scoop.it
From activate.com - August 10, 2021 1:28 PM

Consumers are more willing to share personal data in exchange for better item recommendations when shopping within product categories that feature more complex and customizable items

Farid Mheir's insight:

WHY IT MATTERS: seems you can get away asking for very personal info if it is perceived as useful in the shopping process.

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80% of US households have on avg 1.7 #membership programs and 64% of HH have Amazon PRIME via @Activate

80% of US households have on avg 1.7 #membership programs and 64% of HH have Amazon PRIME via @Activate | WHY IT MATTERS: Digital Transformation | Scoop.it
From activate.com - August 10, 2021 11:58 AM

The overwhelming majority of households plan to keep paying for their shopping program memberships over the next year; many of the programs will retain 85% or more of their memberships

Farid Mheir's insight:

WHY IT MATTERS: membership programs are popular and this report provides a number of good reference numbers.

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The #omnichannel age is here and it's expensive - you need strong margins to survive in this #ecommerce + physical store world

The #omnichannel age is here and it's expensive - you need strong margins to survive in this #ecommerce + physical store world | WHY IT MATTERS: Digital Transformation | Scoop.it
From www.retaildive.com - August 10, 2021 11:45 AM

"Everything that should be happening over a five-, 10-year period is happening now," said Pete Madden, a director with AlixPartners. "It's a rethink, it's expensive, and it's on top of expense that has already happened."

Farid Mheir's insight:

WHY IT MATTERS: everything in this article rings true, from the high cost of omnichannel and especially returns, to the opportunities that remain of having a physical store. The conclusion: you have to change processes, resource allocation and technology to make omnichannel work.

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the impact of #covid #coronavirus on #eCommerce: Top 100 Fastest Growing & Declining Categories in E-commerce #noSurprise via @umlaut21 @ChristianDion

the impact of #covid #coronavirus on #eCommerce: Top 100 Fastest Growing & Declining Categories in E-commerce #noSurprise via @umlaut21 @ChristianDion | WHY IT MATTERS: Digital Transformation | Scoop.it
From www.stackline.com - April 6, 2020 9:52 AM

A recap of the Top 100 fastest growing & declining categories in March 2020 vs. March 2019

Farid Mheir's insight:

WHY IT MATTERS: eCommerce is one of the big winner of the c19 crisis. Data is starting to pour in...

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