The Retailer Autumn Edition 2022

AUTUMN 202 2

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Top 5 challenges organisations face in executing their vision for data, data management, and analytics Top 5 challenges organisations face in executing their vision for data, data management, and an lytics

In Conclusion The top benefits realised from implementing data and analytics initiatives are well documented. They include increased revenue, new products and services development, and improved customer experience and loyalty. Retailers must leverage the window of opportunity available to build their organisations’ data and analytics capabilities and ride out the current wave of unpredictability. To accelerate your data and analytics journey now, click here and down load your free report.

Maturity of technology around data management

60%

50%

Inability to process big data and act on it at the speeds needed by operations, businesses and customers

Organisational business issues with data stewardship and governance

44%

Mike Withey mike.withey@wns.com 07880-656-326 www.wns.com

43%

Lack of business competency to deal with data that is messy, diverse or large

Legal and compliance issues

37%

Source: A commissioned global analytics study conducted by Forrester Consulting on behalf of WNS, 2021 Note: Retail industry respondent size, n=82

3. Use Third-party Providers to Stay Ahead of the Competition To put it bluntly, many retailers WNS works with generally ask for either skills that usually do not exist in their own business or want more ‘horsepower.’ The latter refers to their need for people to deliver the value of data and analytics projects at pace and to leverage, in a cost-effective way, our 4,000 data and analytics people at Centres of Excellence in every continent. The right provider will have done the data and analytics journey many times before with other retailers. Theywill have supported strategy and design, mitigated risks, brought effective program execution control and therefore got the job done faster, showing quicker time-to-value / ROI. Partners may also be prepared to co-invest in your business because your commercial success means mid to long-term commercial success for them as well. Test the market to see what investments are available with leading service providers.

Source

1WNS-Forrester Global Analytics Survey Report – Retail