The Internet of Things enables retailers to do three basics better
1) Sensing who customers are and what they’re doing,
2) Understanding customer behavior and preferences, and
3) Acting on that insight to create a more engaging customer
- There are high-potential IoT applications in supply chain, in
“smart store” operations, and especially in providing an engaging
experience to the “connected customer.” IoT data can anticipate
where the customer is headed and how to meet her there.
- Much of the IoT ground, in both data management and analytics,
may be unfamiliar. Retailers and their IT organizations have to be
realistic about the technological challenges, their own capabilities,
and where they need assistance.
- To differentiate through IoT, focus on the analytics. Devices and
their data — and even their platforms — are commodities.
Advantage goes to the retailer who does the most with the data to
engage the connected customer.