Summary
Given the vastly expanded choice and market transparency, retailers are becoming increasingly dependent on merchandise data to add value to their unique selling proposition. Retailers need to hone their ability to move full truckloads and to exploit new technologies, such as location-specific merchandise and price optimization. The first step is to fix their rickety foundation of data about merchandise and locations. How? Retail process and applications professionals should undertake a data quality assessment exercise to prioritize investment opportunities and establish continuous data quality monitoring and improvement processes.
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