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Building Trust in the Expanding World of Big Data Retailing

These days, the generation of data has become almost as constant as breathing. With every click or swipe, today’s mobile, hyperconnected consumers exhale an ever-expanding trail of digital details, revealing troves of information about their wants, needs, interests, well-being, and aspirations.

All of that data offers great promise for retailers looking to know their customers in deep, new ways in order to provide carefully targeted products and services. But it is also a source of headaches. Those same retailers are wrestling with a complex new realm of Big Data analytics, where a deluge of information from new sources like video, mobile, and social media threatens to swamp their capacity for processing. That is, if they can properly access those new data streams in the first place.

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Data Infomediaries: Enabling the Big Data Value Chain

By Roland Klemann, Cisco Internet Business Solutions Group (IBSG)

The promise of Big Data has inspired many visions of transformation and opportunity. Big Data has even been compared to oil in the late 19th century, when it stood ready to fuel a new age of unprecedented growth. But this will happen with Big Data only if information can be refined, sorted, and moved in real time to the points where it will create value.

Big Data was front and center at the New Digital Economics EMEA Executive Brainstorm & Innovators Forum, June 12-13 in London. This event, with its unique brainstorming format, incorporated four tracks: Telco 2.0, Digital Commerce 2.0, Cloud 2.0, and Digital Things 2.0. Across tracks, data played a significant role in all its forms: big data, small data, and personal data. In general, attendees were uncertain if Big Data is “the next big thing”—or maybe just overhyped.

One thing, however, is clear: a flood of data – terabytes to Read More »

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