Cloud Computing: Revolutionizing The Retail Industry

Technology and Retail Industry

Retail Industry: From Brick & Mortar to the Cloud

  • Data-Driven Decisions: The importance of data can never be overemphasized to retail professionals. The buying journey of a consumer has several touch points that are often lost by many retailers. For example, where do the consumers spend more time? What areas are the most crowded? What is attracting more sales? Which time of the year do you need to enhance your selling strategy? Data is the answer to the above and many other such questions. Key cloud platforms like Microsoft Azure help retail stores of every size to store a huge amount of data. Apart from storage, Azure also helps retailers measure every single data point, and gives a realistic overview of the current trends.
  • Higher Visibility: Retailers have an edge with cloud computing when it comes to the aspect of visibility. Cloud provides enterprise-wide supply chain visibility and this helps them plan their retail chains without expedited deliveries, stock-outs, and high inventories. On the other hand, the cloud also enables you to capture the details about consignments, digital documents, brokers, carriers, etc. in real-time.
  • No Huge investments: A crucial fact is well-established — Retail Industry needs technology to survive in our digital times. However, retailers need to remember that “it’s not just about digitizing the whole nine yards.” On the contrary, cloud migration is a systematic approach that is very light on the pockets. For example, you can move on to the Microsoft Azure Cloud Computing platform without worrying about an overhead cost. Let your data and computing be on cloud and pay as you go for any service that you plan to choose to go for. So with relatively low risk, retailers can move towards achieving efficiency.
  • Unified Computing: There are several components in a retail business that has to work together. Without the right technology, communication is mostly scattered across different domains and there are silos created. Silo operation in any industry is bad and all the more in retail. With a cloud computing platform, there is a transparent fabric that connects all the different components together and makes it a unified platform.
  • Ease of Inventory Management: Inventory is one of the most important assets for retailers. Some large retail players have thousands of stores across the globe and managing their inventory is one challenging task for sure. However, cloud computing helps these retailers to manage their inventory with great ease on just one platform. Solutions can be customized to the retail business so that the workers focus on customers and not on the computing.

Attract and Retain Consumers

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