Tag Archives: big data
As retailers in 2017 continue to face headwinds, the competition is more challenging than ever. Customers are empowered by 24/7 access to the global marketplace. For many retailers, new store growth has slowed, so sales and margin growth are increasingly being driven more by incremental growth from existing stores. To continue to excel in this environment, every business should be mindful of three trends in retail big data:
- Sustainable growth – To grow sales in their existing stores, retailers must find innovative ways to reach customers and drive loyalty.
- Connected consumers – As consumers have become accustomed to growing transparency around the prices and quality of what they buy, retailers must find new ways to engage with and earn the loyalty of their customers.
- Explosion of big data – With the Internet of Things (IoT) maturing, retailers must leverage the vast amounts of useful data available within the network of devices and sensors that are connected online.
Retailers already have access to myriad data from sources like point of sale (POS), mobile devices, inventory management systems, and in-store sensors. As useful as this data is on its own, real insights happen when retailers can connect disparate data to see the conditions that bring success. And one powerful way to do this is by viewing data through the lens of location. Maps enable people to instantly spot and explore patterns and relationships in data.
Location is the common thread of data and enables decisions to be made about matters such as where to position existing merchandise and where to site new stores. Spatial analysis also allows retailers to more efficiently drive traffic through stores by effectively using the data typically only used in the online shopping environment. By tapping into insights derived from in-store sensors and customer mobile devices, retailers can make better decisions about where to allocate goods and employees in a strategic way that is targeted to consumer behavior. Forming a business strategy that leverages integrated location data helps retailers match the in-store customer experience with what consumers experience when shopping online. This is made possible by analyzing demographics, buying patterns, and customer movement in the context of space and time.
Spatial analysis is the key to understanding where, when, and why things happen. With this insight, retailers can engage existing and potential customers and spur in-store sales.
Last week Esri attended #LATechSummit. The summit brings together over 900 LA technology companies, investors, incubators and startups. Los Angeles is the third-largest technology startup ecosystem in the US and is home to “Silicon Beach” on the west side of … Continue reading
During CCIM Thrive, the annual commercial real estate event from the CCIM Institute, Helen Thompson from Esri and senior executives from CCIM’s top data providers will discuss emerging applications for data in the commercial real estate industry. Helen Thompson is responsible for global marketing strategies in the commercial business development team at Esri. She believes that we are entering a phase of business platforms and geographic understanding supported by Location as a Service (LaaS) which will change the way we think about Big Data and a whole lot more.
In anticipation for CCIM’s big data panel discussion on October 25th in Atlanta, we caught up with Helen to collect her thoughts on Esri’s role in big data, as it specifically relates to commercial real estate.
1. What’s one problem that your business solves for commercial real estate professionals?
Smart real estate investment relies on a combination of local and national market knowledge. Understanding market cycle and opportunity is critical and today the quality of decision making is directly related to the quality of your data and insights. Market data is everywhere and Esri make it easy to find it, blend indicators and understand the implications at national, regional and local levels.
Updated January 6, 2017
Science at Esri continues to be an exciting initiative where we are concerned with supporting both basic and applied science, while also recognizing that there are many major themes of compelling interest to society that will drive scientific research for the next two decades. Thus we view science as helping us to understand not only how the Earth works, but also how the Earth should look (e.g., by way of geodesign), and how we should look at the Earth (i.e., by way of Earth observation in varying forms and the accompanying data science issues of analysis, modeling, developing and documenting useful datasets for science, interoperating between these datasets and between various approaches). In addition to supporting the science community, we seek to do good science at Esri ourselves, as it underpins much of what we do as an organization. This is helping us to evolve ArcGIS into a comprehensive geospatial platform for science; a platform that supports research project management and collaboration, spatial analysis, visualization, open data, and communication of science, all at multiple scales (i.e., from individual researcher to lab workgroup, to multi-department, multi-university, university-to-agency collaboration, to citizen engagement).
You can always track the totality of the Esri science initiative at esriurl.com/scicomm,Hot! but in this post I’ll share some highlights from 2014, and as we near the end of 2015′s first quarter, talk about the immediate road ahead. Continue reading
Turning big data into knowledge is all about relevance and context
Big data may be all the rage these days, but it isn’t exactly new. In fact, Esri has been dealing with big data since the inception of digital mapping more than three decades ago. When every contour, stream, street, rail line, park, building, or shoreline for the entire world is stored in an intelligent database, data doesn’t get much bigger than that.
Data as Big, Beautiful, and Living as the Earth
Back in 1992, Esri embarked on an ambitious campaign to create the very first seamless digital map and database of the whole world. This project—aptly named the Digital Chart of the World—converted paper maps of political boundaries, transportation lines, utilities, cultural landmarks, and more into a digital map product that could be viewed for the first time as something other than a pretty picture. In a world where CDs were still considered new and expensive storage media, and hard drives came in hundreds of megabytes, the 1.7 gigabyte database was not only huge, but it also challenged many computer specification and storage architectures. Continue reading
Finding a balance between consumers and companies when sharing geolocation information in the age of big data analytics.
Recently we returned from a retail conference where we highlighted to attendees the differences in perception and attitudes they have toward location data, depending on whether they are using it in their personal or professional lives.
This was the type of conference where those big-box and household-name retailers you see every day send their people in charge. They meet and discuss different ways to sort out the massive amounts of data they capture from today’s digital world. Their main purpose? Turn that data into hard results. Continue reading
Updated April 17, 2016
With all the recent excitement and good hopes over the White House Climate Data Initiative, and the ongoing progress of the Global Earth Observation System of Systems (GEOSS), there is another huge data initiative that bears mention: EarthCube.
I have used the word “initiative” for EarthCube but it has also been described as a vision, as a multi-faceted, multi-layered partnership, and also as a “virtual organization.” As such, it bears quite a bit of resemblance to the international GEOSS, but is much more US-based, having been conceived and currently funded by the US National Science Foundation (NSF). Continue reading
Last Update: December 10, 2015 In early January of 2014, we heard quite a bit about the polar vortex (not a new term, by the way) as North America struggled with some of the most frigid and dangerous temperatures seen … Continue reading
In an earlier post, I had mentioned Esri’s involvement in the large National Science Foundation-funded project known as CyberGIS, which aims to establish a fundamentally new software framework via a seamless integration of cyberinfrastructure, GIS, and spatial analysis/modeling capabilities, particularly … Continue reading