EDITOR ’ S QUESTION
HOW SHOULD CIOS GO ABOUT SELECTING THE RIGHT TOOLS TO GLEAN INFORMATION FROM BIG DATA SYSTEMS ?
Big data is a combination of structured , semi-structured and unstructured data collected by organisations that can be mined for information and used in Machine Learning projects , predictive modelling and other advanced analytics applications . Industry experts look at how enterprise IT is using Big Data to glean information that can be applied to improve business performance and productivity in an organisation .
Systems that process and store Big Data have become a common component of data management architectures in organisations , combined with tools that support Big Data analytics uses across the Middle East region . Big Data is a combination of structured , semi-structured and unstructured data collected by organisations that can be mined for information and used in Machine Learning projects , predictive modelling and other advanced analytics applications .
“ Regardless of the size or the type of marketplace , the focus is on providing a personalised customer experience that is enabled by data-driven processes and a cloud-based foundation . Technologies such as robotics , Artificial Intelligence and Big Data analytics are becoming an integral part of the retail value chain – wfrom personalised marketing and seamless digital or physical stores to warehouse and delivery automation .”
Big Data application
According to the latest insights from International Data Corporation ( IDC ), retailers across the Middle East and Africa ( MEA ) spent US $ 1.95 billion on IT in 2019 . The global technology research , consulting and events firm forecasts this figure will reach US $ 2.04 billion this year and continue rising at a compound annual growth rate of 5.7 % over the coming years to reach US $ 2.43 billion in 2023 .
“ The Middle East retail industry is going through a transition where the digital marketplace is gaining prominence ,” said Ranjit Rajan , Associate Vice President , Research , Middle East , Turkey and Africa ( META ), IDC . “ While the bigger players are directing their money and efforts towards building digital platforms , the market ’ s smaller players are exploring new business models in partnership with digital pure plays .
With many consumers wary that organisations are collecting too much data about them online , IDC believes that 60 % of major retailers worldwide will implement a consent-based approach over the next two years , with the aim of maximising the value of contextualised customer journey personalisation and automated conversations . Those retailers that fail to do so may find that they can only leverage anonymous and aggregated data , severely limiting their ability to deliver personalised customer experiences .
Mohammed Alkhotani , Area Vice President – Middle East and Africa , Sitecore , agreed with Rajan on the need to offer personalised customer experiences and pointed out that Middle East organisations of all sizes and industry verticals are prioritising using Big Data to transform customer experiences , which will become critical for driving their business .
26 INTELLIGENTCIO AFRICA www . intelligentcio . com