Preserving Retail Data ROI Means Protecting It
February 8, 2021
The retail industry transformed in many ways in 2020, with online sales representing a clear example of such customer preference shifts. In analyzing these changes, retailers can find a veritable treasure trove of data. Those with the means to channel this data will uncover insights related to e-commerce, customer experience, inventory, marketing, staffing and supply chain trends. The data can also highlight what they did well, where they could have improved and, most importantly, how to respond in the coming year.
As retailers dig into the data, it is critical that they are doing so with data protection in mind. As data’s value increases, so does its risk. It is more important than ever that data protection best practices are employed to ensure that the ROI is not diminished by the enormous cost of data exposure. There are three areas where retail organizations should concentrate efforts in the coming year to preserve their data’s value: prioritizing cloud data protection, making data “share-ready” and addressing regulatory concerns.