Retailers collect large amounts of valuable data on consumer preferences, customer habits, inventory, marketing campaigns. But in most retail enterprise setups, every single system the company uses – think Point of Sale (POS), e-commerce, CRM, inventory management, and more – stores data into a separate database.
These systems are often custom integrated or even homegrown, and as a consequence, they cannot communicate seamlessly and instantly with each other. As the databases are disconnected, putting the data together, making sense of it and analyzing it becomes a complex, costly and lengthy manual process. In other words, a task that many businesses don’t have the resources to undertake. As a result, a wealth of knowledge is left untapped, leaving retailers none the wiser on what goes on with their customer base.