The Future of Cloud Computing Solutions in Retail Business
In today’s digital world where even the best of retail businesses can’t function without the adoption of technology, cloud computing in retail industry is a powerful tool to realize your future business goals. As a retailer, it is important for you to recognize the fact that you can no longer focus only on improving products and services. Your organization needs to also invest on technology to connect with its customers and read the pulse of their changing behavior. Cloud computing in retail offers you a feasible and cost-effective solution to strategize, plan and execute your future course of action.
It is no coincidence that cloud computing service providers are experiencing a steady increase in demand from the retail industry. But this growth is just the tip of the iceberg. Gartner has forecasted that 90%* of the organizations will be using cloud services by the year 2022. If you are planning to migrate to cloud, but are not able to decide whether it is the right platform for your business, it is high time you learn about the impact of cloud computing on retail business.
Making Anywhere, Anytime Inventory Management Possible
Cloud computing in retail gives companies a wide visibility of their stocks. It automates the supply chain and empowers retailers to manage inventory from anywhere, anytime. Cloud solution helps them overcome the fear of stock shortage by offering them access to real-time data, cloud architecture and analytics platforms. This is particularly effective for retail companies who have to manage multiple stores in different locations. As more and more retailers face the challenge of expanding their reach, cloud migration can help them check and monitor stock, accurately predict demand and optimize inventory cost.
Ensuring Superior Data Security
Retail enterprises collect a lot of sensitive data related to inventory, sales and customers every day. It is crucial for them to manage and store the data securely. Cloud computing in retail industry offers superior safety nets like advance firewalls, encryption, internal firewalls and event logging which local servers can’t. Cloud contact center security handles data with utmost care and prevents incidences like network infiltration, Ransomware and DDoS attacks. With data threats becoming more widespread, retailers need to migrate to cloud to avail up-to-date data security that can guard them from future risks.
Increasing Return On Investment
Cloud driven enterprise mobility solution is not capital-intensive. Like any other B2C business, retailers need to deal with a larger audience base and maintain an IT infrastructure for regulatory compliance. Cloud computing is a great option for them to attain the desired flexibility and scalability to optimize their Return On Investment (ROI). It adds efficiency to operations and contributes to the bottom line of the company. As competition rises in the retail market, cloud computing is all set to emerge as the preferred technology for retail business.
Enhancing Customer Experience
Customer experience is central to the success of a retail store. A happy customer leads to repeat footfall and referrals. Retailers can streamline their operations by adopting cloud computing in their store. Shifting to cloud-based POS systems can facilitate faster and hassle-free check-outs. In a world where customers have less time at their disposal, retailers are more likely to embrace a technology that reduces transaction time and enhances the customer experience.
Accelerating Decision Making
Obtaining data is of no use to enterprises unless they can utilize them fully. The high-power computing resource and statistical models offered by cloud computing service providers can enable faster decision-making. Retailers can judge the consumer behavior by depending on the tools made available by cloud analytics MSPs and then base their marketing strategy accordingly. They can then store the same data in the cloud and adjust the price, offer a discount or recommend a product to customers by constantly studying their buying pattern. The ability to add precision to the marketing strategy is making cloud computing a trusted choice amongst retailers.
Assuring Faster Disaster Recovery
Cloud disaster recovery model helps retailers to store data, take back-up and retrieve data remotely. As the entire process is automated, retailers save precious time in protecting valuable data during emergency. Another advantage of using cloud computing in retail is that it does not require constant maintenance and support. Therefore, it is a scalable, cost-effective and reliable platform that can safeguard retailers from disasters.
Read our latest Blogs...
Recommendation systems with purchase data and AI recommendation engines in retail are helping retailers to improve customer relationship and engagement.
Retailers are implementing several kinds of Product recommendation engines to boost sales. The key is to find the type most suited to your business.
The impact of digital transformation on agile retail is manifold, ensuring increased market share. The right Digital adoption strategy is the key to get there.
A Retail Ecosystem that brings together various consumer services on a single platform is a result of process automations led by digital transformation.
Cloud computing is gaining significant ground in the retail industry thanks to the impressive array of cloud services and benefits that it offers.
Have a Business Inquiry?
Get notified about the next update Subscribe to our newsletter & Stay updated.