Although most retailers have dramatically ramped up their data analytics efforts, Amazon.com still leads the pack. This is one of the retailer’s biggest competitive advantages.
As Anna Papachristos writes for 1to1 media:
“When it comes to the retail industry, customer data certainly aren’t in short supply. Yet, while retailers may have an abundance of information at their disposal, few have the necessary systems in place to bring insight to action.”
“Of those retailers polled [in a study by EKN Research], the majority (80 percent) believe they lag behind Amazon when it comes to analytics maturity, with 71 percent of retailers performing only basic analytics reporting or none at all, thereby highlighting the inefficiencies throughout the industry.”