While most
companies still lack the ability to mine and
leverage important customer data, and are therefore failing to meet evolving
shopping demands, I have a pleasure to recall that, investing in big data and predictive
analytics is a game-changer in our ever-connected data-driven era where retailers and manufacturers can unlock
significant competitive advantage by leveraging consumer insights to make
category decisions and create localized merchandising assortments.
For many analysts , the increasing need for inventory level management and the movement of goods in real time to minimize the lack-of-stock situations are the major reasons for the growth of the market. Increased product availability and reduced inventory costs are also driving the market growth, according to Technavio Research.
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