Connected Data
Digital Merchandising: Best Practices for Merchandising Excellence
Global digital commerce sales are expected to hit $5 trillion in the year 2022 and skyrocket to $6 trillion by 2024.
The upsurge in digital commerce is not very hard to understand. Whether it’s a product or a service, the sheer convenience of online shopping, combined with an instantly expansive range of products or services to choose from, makes online shopping far more rewarding. For businesses, the channel provides a great opportunity to expand geographically, reach more customers, and drive revenue organically.
Make sure you display your best merchandise to tap the digital opportunity.
The exponentially increasing number of eCommerce websites across the internet means that as opportunities open up, so does the competition.
Here is a quick guide on Digital Merchandising Best Practices to help you win the digital shelf
Connected Data
From the boardroom to the shop floor - connected data leads to connected organizations.
The true value of data is not restricted to any one business area, be it customer experience or better decision-making. Rather, true data maturity is a function of connected data where the whole organization acts as one unit, powered by a single source of truth.
The future of digital commerce lies in improving, not just data itself, but also data connections. Right from data ingestion to data governance to data distribution build a solid product-data-driven foundation to improve business performance, and leverage technology to accelerate and optimize data journeys to achieve all-around digital excellence.
Data as a Product
We've all heard of product data, but what about data product?
"Companies that treat #data like a product can reduce the time it takes to implement it in new use cases by as much as 90%."
This change in approach to leveraging data is what is driving business success for many companies across the globe. Using data as a product empowers businesses with ready-to-use, high-quality data that can be of great value to teams across organizations. This, however, requires the right practices for companies to manage and develop data products across the board.
Curious to know how to achieve this? Check out this latest Harvard Business Review blog on how to put your data to work
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