I am sure by now we all know that the world’s most valuable resource no longer is oil but data.
Generated every minute, data has become one of the most vital assets for businesses. Additionally, the proliferation of smart devices and easy accessibility of the internet amplifies data.
But is collecting data enough for a business? And the answer is NO.
Data is sensitive and needs to be stored and secured under the expertise and with the help of the right tools and infrastructure.
In the modern and digital era, more and more businesses are valuing the worth of data; this is the primary reason why the usage of data centers has scaled up unbelievably. From the size of a room to multistory data solutions’ capacities built all over the globe is a true testimony of how data center solutions are a much-needed solution by various industries.
So, let’s pick retail and understand how and why data center solutions are mission-critical for this industry genre.
Ever thought if the retail industry didn’t exist, how would our demands be fulfilled. Going to the supermarket and finding a plethora of necessary goods is a part of the retail chain. Imagine it would have been so challenging to get everything from the manufacturer. It is not even feasible to think that way.
The world needs to understand, apart from IT, agriculture, and manufacturing, the retail industry plays an essential role in shaping the economy.
Aggressively active in bringing to the customer the final product almost at the doorstep makes this industry an inevitable part of all our lives. Procurement, marketing, and merchandising functions aligned in this business benefit the customer by giving them access to a broad range of goods and services without any hassle. Not just this, but a retailer also contributes to improving brand image.
Role of retail in the economy
Maybe a lot of us are not aware of the transition the retail industry has been through. However, it essential to learn that the retail industry has changed. It is not limited to brick and mortar stores. This industry has witnessed a transformation in recent times and clearly puts the customer before anything.
Additionally, the adoption of digitalization has helped the industry transform customer experience dynamically.
In the era of digitization, the combination of traditional and digital innovations is a must to keep the industry growing, and this is what retail does most appropriately.
Believe it or not, the magnitude of the retail transformations and innovations challenge the retail space in terms of growth, productivity, and profitability.
The point to be noted here is that these drastic changes in the industry definitely has an impact on the economy of a country.
Listed below are a few ways the retail industry makes a difference to the economy.
1. Changes in the brick and mortar stores
Digitization in the retail industry is not just limited to superstores but is also taking over the brick and mortar legacy.
Interesting facts: As per recent trends, countries such as Japan, the US, UK, China, France, and South Korea have witnessed a massive spike in sales via eCommerce.
2. Splendid customer experience
More than 90% of brick and mortar stores worldwide are here to stay. With regular upgrades in technology, the industry offers a meaningful experience to customers.
3. Revenue generation
Last but the most crucial impact of the retail industry on the economy is revenue generation.
Importance of data center solutions for the retail industry
No matter what industry we talk about in the world of digitization, data is the essential fuel for every sector. And retail is no exception.
Retail has perpetually been one of the most critical factors to drive technological advancements. Right from POS (Point of Sale) systems to online payments to eCommerce, the transformation has been prominent. Hence, the need for data center solutions is inevitable for this industry sector.
Let’s begin with some interesting facts.
Did you know the online retail marketplace eBay processes over 300 billion data queries every single day, and the data footprint exceeds 500 petabytes.
Why do retailers need data centers?
Technically, online retail and eCommerce plays a massive role and by real means is an extension of physical and conventional retail. Today, several companies do not have a physical store but are termed as the biggest names in the retail sector. Yes, you got me right. Companies such as Amazon, eBay, and Flipkart, not just have a digital presence but have the potential to rule the retail industry.
Therefore, when retailers use the internet for marketing and selling their products, reliable online infrastructure and support is a must. And data centers deliver this with high reliability and advanced IT solutions.
Why is the retail industry dependent on data centers?
No matter what business you are into, to get the final product to the customer, the retailer is the only solution. Today, almost every business relies on data centers solutions and cloud computing support to improve eCommerce presence and online applications.
However, in the retail spectrum, data centers are much needed to handle the flow of data.
Mentioned below is a list of ways retail prefers to use data center solutions,
Colocation enables retailers to move vital and sensitive data held on a world-class center to a remote location.
2. Better reliability
Strategic use and implementation of professional data center systems are dedicated to offering a higher reliability quotient and network availability.
3. Instant scalability
A data center is the most strategic solution that retailers opt to support scalability. The primary reason for this is its capability to handle demand fluctuations.
24X7 support on call or via chats and remote monitoring platforms are extremely beneficial for the retail business. Additionally, these solutions also offer data back solutions maintained regularly.
5. Unparallel levels of security
Equipped with the most advanced security tools and features, professionally managed data centers offer businesses unparalleled digital security. A lot of them also support customers with compliance.
The list of top data center companies in the world is pretty huge—right from Google, Amazon, Equinix, to IBM, and several others. But are we aware of how companies have made optimum use of data center solutions to enhance several areas of the business?
Maybe, maybe not.
Here are a few examples where companies have nailed it with the data center solutions.
Payment networks’ liability shift
Credit card frauds are a sensitive issue for retail businesses. As per Business Insider, companies such as Visa, Mastercard, and Europay (EMV) are creating standards to end in-store frauds. To adhere to these norms, the EMV mandate demands the implementation of chip-embedded credit card acceptance in the retail sector.
However, to be able to work on this, retailers must develop infrastructure and applications that are designed to remain compliant. Else, these stores could be held responsible for in-store credit card frauds.
Therefore, retailers must choose a data center platform that can support them in providing secure and reliable colocation solutions to customers and simultaneously match with the dynamic and ever-changing retail IT infrastructure.
EcoStruxure data center solutions by Schneider Electric
We specifically speak about Schneider Electric here as the company extensively is making a difference to the retail businesses by linking corporate offices, networks, and data centers to power corporate data centers, which that hold a competitive advantage for the retail sector.
These data centers are programmed to process orders and transactions that take place every day from stores as well as websites, warehouses, headquarters, and more. To be able to work around with massive amounts of data, data centers need to be agile to accommodate rapidly changing consumer trends. And EcoStruxure data center solutions by Schneider Electric offer precisely the same.
Now that the correlation between retail and data centers is clear. It is time we understand that data centers are here to stay, and several updates and innovations in the retail technology comprehensively depend on these data centers. So, it is essential to choose and sign up for the most suitable solution.