#feltronreport

[fashtechindustry-blog]

Releasing the power of data

If the customer is king, the data are the pawns – the foundation for any winning position. There is more information available than ever before on people’s consumption habits, behaviours, trends and decision drivers. 

However, investments in big data and analytics are wasted if decision-makers receive erroneous insights, or do not have the skills or competencies to convert solid insights into business decisions. Unlocking this information is key to understanding what the mind-set of the consumer is now and is likely to be in the future. By 2020, we foresee a world of real-time linked participants across customers, employees, shareholders, and the marketplace. Driven by the convergence of Big Data, the Internet of Things, and Data Science, luxury retailers will be able to better understand their customers, respond to market trends and tailor sales information & products

The future of data