M2M shaping retail
M2M (Machine to Machine) communication is set to be the 'next big thing' and shape the fortunes of many businesses operating supply chains. Many retail businesses have already prepared or are gearing up to leverage M2M for competitive advantage.
The clear conclusion that can be drawn from the increasing interest in M2M is that any business that does not move to ensure it is ready to embrace this innovation could get left behind. One of the biggest areas of growth in M2M for retailers is to understand more about the shopping habits of customers and apply analytical outputs to inform their efforts to increase profitability.
Data sets, privacy and M2M in multichannel businesses
Data analytics of M2M data may well yield substantial information to support this aim. However, there is currently one major obstacle that could reduce the benefit. Privacy issues may limit the ability to take advantage of the Big Data trend of bringing discrete information silos together to yield intelligence.
An example of this might be for retailers to overlay their data with information from a Mobile Network Operator (MNO) in order to extract geographical intelligence, such as understanding how far shoppers might be willing to travel to make purchases. For businesses dependent on retail this could be a bit of a problem and severely limit their ability to succeed in an M2M world.
Multichannel businesses with strong eCommerce and trade & consumer channels as well as retail interests will also encounter the same issue. However, the channel diversity within their businesses means they are not overly exposed to retail risk downstream or hampered by the inability to leverage Big Data to improve their understanding of how to drive retail sales.
Get more from M2M in 2015 with BlueBridge One
If you are in wholesale distribution, whatever plans you have in the pipeline for 2015, make sure M2M is near the top of your development agenda. For true multichannel businesses the real benefit of M2M is upstream and downstream where it is going to be highly influential in shaping the efficiency of supply chain operations.
To find out more about how wholesale distribution multichannel businesses can leverage M2M contact BlueBridge One today. We join the dots to integrate wholesale, in-store, eCommerce and M2M with NetSuite ERP to enable more efficient supply chain operations. You can click here to take a FREE trial of NetSuite.