How Cloud Computing Helps Retailers With Secured Data Storage?

By: Retail CIO Outlook | Tuesday, July 21, 2020

Leveraging cloud in the retail industry helps retailers make better merchandizing decisions as well as enhance the in-store and online experience.

FREMONT, CA: At present, the retail industry is in the middle of a digital revolution where the power of transformation has shifted to the cloud. Even though retailers are familiar with the topic cloud, cloud computing helps to share the information, software-applications and operating system-and infrastructure-hardware just like servers and storage units via the internet. A cloud computing model can benefit high power computing to the consumers who are in need to have only typical input or output infrastructure. While considering retailing, point of sales implements a huge amount of data per day. The sales data can be acquired only through loyalty cards and discount coupons.

The cloud provider identifies the trend and seasonality component of each product or brand category and identifies and monitors business performance. Cloud also provides analytical results to retailers.

The best cloud provider helps the retailers to understand patterns and trends within large databases. It can be utilized later for creating analytical models, and to offer an edge to decision making. Likewise, retailers can enhance their ability to forecast the customer's behavior and plan accordingly. Retailers can then develop customer programs and merchandising and pricing strategies to attract more business.

Cloud providers will be serving several retailers. They very well can manage difficult situations like stock unavailability. Cloud providers help to provide valuable advice to retailers concerning product availability and back-up stock from forecasts. They can get a realistic forecast by analyzing huge amounts of data from several retailers. Thus retailers can develop a supply chain where the right product arrives at the right time. An established cloud provider with a successful cloud model can offer quick and cheap solutions. The tech giants in the retail industry may hesitate to adopt the cloud solution, considering the current maturity of the technology.

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