Data modernization
The key to unlocking retail growth
Why you need to modernize your data
You collect massive amounts of data every day, but how much value is it providing?
Point-of-sale transactions, inventory levels, shipping and logistics, customer purchases and returns, social media activity, and website traffic all provide valuable information that — when managed properly — is pivotal to your company’s growth and success. However, siloed data and outdated legacy systems hamper advanced analytics and prevent you from harnessing the full power of your data.
Properly aggregating, integrating, and analyzing your data is essential to improve the customer experience, enhance budget planning, and drive decision making. Create a holistic view of your data and update infrastructure (including upgrading hardware, software, networks, and databases) to enable AI/ML solutions that attract customers and improve your bottom line.
Properly aggregating, integrating, and analyzing your data is essential to improve the customer experience, enhance budget planning, and drive decision making. Create a holistic view of your data and update infrastructure (including upgrading hardware, software, networks, and databases) to enable AI/ML solutions that attract customers and improve your bottom line.
Key features
Data modernization hinges on cloud migration and data integration. It consists of a series of steps to implement changes to the organization's data infrastructure, processes, and systems. SoftServe’s data modernization solutions:
- Integrate internal and external data from various sources
- Ensure data quality
- Establish data governance frameworks
- Facilitate real-time data processing
- Democratize data access
- Adopt scalable and agile data storage
- Leverage advanced analytics tools
- Implement robust security protocols
Key benefits
Improving data infrastructure and data management processes to modernize data gives your retail business a competitive advantage by harnessing the power of cloud computing, AI/ML, and advanced analytics. It accelerates solutions such as demand forecasting, development of a 360-degree customer view, personalization, and supply chain risk management.
Modernization is key to automation and scalability. This, in turn, drives cost optimization in an industry that is notorious for razor-thin profit margins. Improving practices and strategies for data governance paves the way for improved business models allowing you to:
- Develop data-driven strategy and enhance business intelligence
- Improve operational efficiency with automation and real-time data analysis
- Scale on demand as workloads fluctuate
- Accelerate time to insight
- Optimize costs by reducing spend on infrastructure and paying only for resources you use
