The fast-paced retail industry operates around the clock, driven by the necessity of being available to consumers at every moment with the goal of converting them to profitable customers. For every role in a retail organization, marketing, selling and serving customers are critical functions. But doing them well is more difficult when retailers cannot use the data from their own operations and marketplace to determine the best actions to optimize future efforts in the most cost-effective manner. As volumes and sources of data continue to expand, the retail industry is going through a transformation in using all forms of data to advance its efforts.
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