When it comes to financial forecasting and analysis, the retail world sees its fair share on a regular basis. Perhaps more so than ever, the need for these processes is increasing week by week due to today’s rapidly developing online retail market. Companies rush to quickly adapt to constant fluctuations and uncertainties and financial forecasting allows them to know when to take more risks, and when to tighten the wallet. Having a deeper understanding of financial planning increases chances of avoiding bumps on the way. Continue reading “How To Forecast And Analyze Your Retail Financial Models”
Today retailers have many strategies to attract the highly intelligent customer. Customers of goods and services are becoming more and more aware. Their knowledge of different competitors leads them to buying the best product at the lowest rate possible.
The fact that customers are aware, though, does not deter marketers from selling their products in new ways. Aiding this quest for novel ways to maximise the shopping experience is Big Data. Big data is the term for a collection of data sets so large and complex that it becomes difficult to process using on-hand database management tools or traditional data processing applications. The challenges include capture, curation, storage, search, sharing, transfer, analysis, and visualization. Everything about Big Data is rather large. The promise that big data holds is many fold.
Big data is large and complex and rather daunting if not utilized correctly. Organizations have spent millions of dollars analysing and compartmentalising big data. Big data has aided research in many scientific pursuits. The Large Hadron Collider experiments represent about 150 million sensors delivering data 40 million times per second.