Empowering Retail With Exponential IT: Info-Tech Research Group's Strategies for Enhancing Customer Value and Business Growth
Info-Tech Research Group has published a comprehensive blueprint for retail IT leaders, emphasizing the urgent need to integrate exponential technologies like AI, cloud computing, and data analytics. By addressing key priorities, retailers can enhance customer experiences, streamline operations, and drive sustainable growth. The research highlights how innovation and modernization of legacy infrastructures are crucial to staying competitive in a rapidly evolving market.
TORONTO, July 5, 2024 /PRNewswire/ - Retailers today face relentless pressure to stay competitive, drive innovation, and elevate their market positions. In such a dynamic environment, IT leaders are increasingly tasked with enabling organizations to harness exponential technologies for sustainable growth. In response to this pressing need, Info-Tech Research Group has published its latest blueprint, Priorities for Adopting an Exponential IT Mindset in the Retail Industry. This research highlights the urgent need for IT leaders in the retail sector to integrate advanced technologies such as AI, cloud computing, and data analytics. By addressing these critical priorities, the industry can overcome current obstacles and unlock new avenues for growth and innovation.
Info-Tech's newly published industry research underscores the increasing customer demand for personalized services and transparency. However, many organizations are grappling with the challenges of delivering on these demands due to complex and costly legacy infrastructures. Emphasizing the need for innovation, the firm stresses that organizations must recognize IT leaders as valued business partners in order to embrace exponential technologies.
"As technology continues to undergo game-changing levels of innovation, organizations are faced with the real possibility of being left behind their competition," says Donnafay MacDonald, research director at Info-Tech Research Group. "It is imperative that organizations be prepared for the next wave of rapid, exponential technological evolution. Organizations that are readily positioned to pivot, adapt, and adopt new technologies have the greatest potential to unlock value."
The importance of adopting Exponential IT within the retail industry to combat disruptions cannot be overstated, especially for IT leaders. With speed being imperative, Info-Tech cautions that IT leaders and organizations are at risk of falling behind if they do not adopt new technologies fast enough.
"Adopting an Exponential IT mindset is about being prepared for growth by evaluating existing operations and organizational structures and taking steps to modernize them," adds MacDonald. "Our research identifies foundational capabilities and essential steps to take in the process of adopting an Exponential IT mindset to help organizations prepare."
Info-Tech's research highlights several critical priorities for retailers, including the need to develop robust IT infrastructure, integrate advanced technologies seamlessly, and cultivate a flexible workforce capable of leveraging new digital tools. These strategies are essential for fostering innovation, improving productivity, and maintaining a competitive edge in the market.
The firm's blueprint details three key priorities for IT leaders to focus on when adopting an Exponential IT mindset. These recommended priorities are:
- Transform Infrastructure and Applications Into Utilities: Leverage demand-driven supply chain networks for flexibility and real-time decision-making capabilities. This approach also includes adopting cloud computing for applications and restructuring existing applications as part of digital modernization.
- Treat Data as a Product: Data must be treated as a product with a value proposition. Organizations can increase productivity and gain a competitive edge by evolving data ownership, increasing cross-functional influence and collaboration, and marketing and selling data assets both internally and externally.
- Let AI Take Over Core Operations: With ongoing advances in artificial intelligence and machine learning, there will be significant progress toward higher automation. IT leaders must prepare for the automation of infrastructure and operations with a clear IT strategy and the implementation of new technologies.
The firm's blueprint explains that the retail industry will struggle to remain competitive without adopting AI to support business operations. Leveraging AI and automation can significantly enhance efficiency and generate real-time insights, enabling organizations to meet evolving business needs and maintain a competitive edge.
By aligning IT initiatives with organizational goals and fostering a culture of innovation, retailers can overcome barriers to digital transformation. Info-Tech's comprehensive blueprint offers practical guidance on building a robust IT infrastructure, managing risks effectively, and creating a data-driven environment that supports continuous improvement. Adopting these priorities will help retailers navigate the complexities of the digital age, improve operational efficiency, and sustain a competitive edge.
For exclusive and timely commentary from Donnafay MacDonald, an expert in the retail and wholesale sector, and access to the complete Adopting an Exponential IT Mindset in the Retail Industry blueprint, please contact [email protected].
Info-Tech LIVE 2024
Registration is now open for Info-Tech Research Group's annual IT conference, Info-Tech LIVE 2024, taking place September 17 to 19, 2024, at the iconic Bellagio in Las Vegas. This premier event offers journalists, podcasters, and media influencers access to exclusive content, the latest IT research and trends, and the opportunity to interview industry experts, analysts, and speakers. To apply for media passes to attend the event or gain access to research and expert insights on trending topics, please contact [email protected].
About Info-Tech Research Group
Info-Tech Research Group is one of the world's leading research and advisory firms, proudly serving over 30,000 IT and HR professionals. The company produces unbiased, highly relevant research and provides advisory services to help leaders make strategic, timely, and well-informed decisions. For nearly 30 years, Info-Tech has partnered closely with teams to provide them with everything they need, from actionable tools to analyst guidance, ensuring they deliver measurable results for their organizations.
To learn more about Info-Tech's divisions, visit McLean & Company for HR research and advisory services and SoftwareReviews for software buying insights.
Media professionals can register for unrestricted access to research across IT, HR, and software and hundreds of industry analysts through the firm's Media Insiders program. To gain access, contact [email protected].
For information about Info-Tech Research Group or to access the latest research, visit infotech.com and connect via LinkedIn and X.
SOURCE Info-Tech Research Group
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