According to Gartner VP Analyst Michael Warrilow, “Most organizations adopt a multi-cloud strategy out of a desire to avoid vendor lock-in or to take advantage of best-of-breed solutions. We expect that most large organizations will continue to willfully pursue this approach.”
With the numerous benefits that cloud technology brings to organizations, there are still many retailers who wish to own an edge in the market space but have second thoughts about the multi-cloud data management technology. This blog will discuss a few of the many reasons why Multi-cloud is the Ideal IT model to create a single source of truth and manage structured and unstructured data for the retail industry.
To compete in this omnichannel world, retailers need to stay up to date with incoming data from disparate sources. With data in abundance, retailers can leverage data with multi-cloud solutions and stay ahead of the competition by segmenting their customers and predicting the next market strategy.
The digital era has made customer engagement a never-ending process, which benefits retailers by keeping them updated on customer needs even before they arise.
With overwhelming amounts of data at hand, retailers need effective solutions for their data management processes. Multi-cloud data processing platforms possess the ability to ingest, transform and deploy business analytical solutions both in private and public environments. This allows retailers to segregate data depending upon their needs swiftly and efficiently. For instance, with a 360-degree view of the customer journey, the data processing solutions can leverage hidden opportunities from data visually and efficiently through Multi-cloud strategies. Data management is a crucial aspect for retailers, and with a single cloud approach, certain industry challenges obstruct seamless data management.
1. Lack of Touchpoints Integration
Legacy systems, private clouds, and on-premise software have long paved their standing in the retail industry.
But as digitization expands over time, it is expected that industries move on to modern technologies. As data gets managed and processed with Multi-cloud, the retail industry benefits from integrating all base points with data curated from the customer’s journey. With single cloud approaches or legacy systems, it becomes difficult to touch bases with every data source and application, resulting in long-term losses.
2. Complexities across Vendors
The retail industry incorporates multiple customers and vendors that form an ecosystem where the retailers curate data and leverage Multi-cloud data management platforms to build new strategies. Adapting best-in-breed data platforms with multiple cloud vendors while maintaining a unified experience becomes cumbersome with single clouds that lack visibility across different layers.
3. Disrupted Customer View
Since data comes in from various disparate sources, storing them and deriving meaningful insights on a single cloud platform hinders the data management process. This data not only takes more time to be ingested in a manner where it can be put to use but also needs many experts to engineer solutions that enable insights. With a single cloud approach, the organizations are deprived of native services of multi-cloud which provides an enhanced view of customer engagement.
The time-consuming process also affects the Customer 360 view as services are used ineffectively.
The retail industry is booming with the help of meaningful insights derived through customer data leveraging solutions like Customer 360. Customers benefit from a seamless experience because of its exemplary model. But merely providing a smooth experience to the customer does not suffice to create an edge in the industry, the most critical factor is to retain existing clientele.
Still, wondering why businesses should adopt Multi-Cloud?
Let’s have a look!
1. Scaling With Seasonal Traffic Bursts
Consumers tend to spend more during the holiday season and it’s crucial for retailers to be prepared for every scenario. With data inputs from every sphere, it becomes cumbersome to manage and track every detail. Multi-cloud data management enables retailers to have enhanced access to every layer of the organization’s data with precision. Retailers can also scale their IT systems and services as needed since Multi-cloud data management service providers, like Rawcubes chart out customized plans for different organizations. This lowers costs and produces better ROI with a detailed customer view in hand.
2. Increased Control Over the IT sector
According to recent research, companies are wasting $62 billion on IT infrastructure in the cloud they don’t require. With the IT industry backing every organization, other industries need to have balanced control over IT. While retailers need to ensure a smooth experience for their customers, it is equally important to ensure safe and secure processing, transmitting, and storing of customer data and their payment information. Engaging with Multi-cloud data management platforms like DataBlaze, retailers ensure data security and governance for various teams in the organization to make secure data-driven decisions.
3. Building an Experience
With fierce market competition, retaining customers is not an easy task. A study on the market found that over 78% of consumers would only engage with brands who have established a personalized experience with them over time. Multi-cloud data management processes’ agile and flexible composition effectively serves organizations of different sizes by computing all the data in one place. This data is used intelligently to curate insights that benefit the customer and enable a better brand experience. With a well-represented and seamless data integration platform, it becomes easier for the organization to understand a customer’s journey and create a personalized experience curated specifically for each customer.
4. Reliability and security
Data management and security are a matter of concern for every organization. The only reason organizations are refraining from trusting new technology is their perceived reliability and security issues. There are true challenges of maintaining personal information (PII) data on the cloud. Fortunately, DataBlaze provides increased reliability by executing jobs that contain PII/PCI data and segregate other compute extensive jobs on the cloud. All this with the 24/7 availability of an integrated governance model.
We at Rawcubes aim to deliver the benefits of Multi-cloud data management for the Retail Industry. Our Services don’t just include seamless integration of your organization’s data but also provide clear visibility of your data through our distinct knowledge graphs.
Request a demo with our technical experts, if your organization needs an agile, flexible, and scalable Multi-cloud data management software with customizable solutions.