Why Retailers Need To Act Like A Software Company

Fleet of foot and fickle of mind, consumers are flocking to retailers — online, and to buy direct. Three data points tell the story. The data is out there – but bad data is worse than no data. And sometimes it’s hard to discern the good from the bad.

In the latest Data Drivers, EDITED CEO, Geoff Watts, tells Karen Webster retailers must learn to act like software companies and brands become retailers as data-driven direct consumer interaction emerges as a macro trend.

“It’s kind of like anything else in life,” said Geoff Watts, CEO of EDITED, who mused to PYMNTS’ Karen Webster that “you need to put trust in the organizations that have proven themselves a little bit it is important to understand the province of the data, understand where it came from and whether you can trust where it came from.”

Despite best efforts, he said in the latest Data Drivers installment, consider the fact that there will always be errors – right down to the mistakes that say a consumer was born in a different city, or in the wrong year.

Then there’s the data, writ large, that says a particular sweater will fly off the shelves, only to have it... More...

thumbnail courtesy of pymnts.com

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