BizSugar.com › Strategy › Using Big Data Analytics in the Retail Space

"Big Data," once mysterious, awe-inspiring, and intimidating, is quickly being unlocked through scientific analysis, to take its place as an extraordinary source of information and basis for profit. Calling big data, "the next frontier for innovation, competition, and productivity," analysts at the McKinsey Global Institute predicted that, by using big data in retail, a retailer could increase his/her operating margin by more than 60 percent.

Big data analytics can increase profit for retailers when used correctly. Industry Insights' Gilon Miller explains the benefits and implications.