The speed, security and efficiency offered by the cloud is changing the face of retail. Retailers that have migrated to the Cloud have seen increased revenues, higher productivity and were more prepared to face the challenges of the pandemic.
According to Adroit Market Research, investment in the cloud by the retail sector is predicted to skyrocket to $48.47bn by 2025. Covid has accelerated the digital transformation of many retail giants but those sitting on the fence when it comes to the cloud can’t afford to do so any longer.
Has your business realised the true value of its cloud investment?
Understanding customer shopping habits is the bread and butter of any retail business. Tools such as retail analytics are used to identify customer preferences and behaviours to offer personalised in-store and digital shopping experiences. However, effective use of big data requires handling and managing huge amounts of sensitive information.
Cue the cloud – Cloud-based solutions are the best option to handle customer data, as they come with on-demand storage and powerful computation and analytical capabilities.
How can cloud computing ease GDPR headaches?
As GDPR, Brexit and increased global economic sanctions continue to make even simple tasks regulatory headaches, compliance remains an area that the retail industry is spending an increasing amount of time and money on.
Migrating to the Cloud can solve multiple GDPR compliance issues for retailers. For instance, by leveraging modern technologies on the Cloud, such as Artificial Intelligence (AI) and Machine Learning (ML), organisations can ensure all activities remain compliant with local regulations, while also processing data quicker and more effectively than humans can.
As the retail industry comes to grips with the harsh reality of Brexit and GDPR, Cloud-based automation in compliance is set to become even more important to the success of the retail market outlook.
Cloud security services.
In the wake of the pandemic, cyber-attacks are still increasing, and costly ransomware continues to put companies out of business. As such, retailers must take the necessary steps to secure their data.
Savvy retailers are shifting to Cloud solutions to transform data into an essential strategic asset that can enable employees to make safer and smarter decisions. Through the cloud, retailers can access security services that improve their system security capabilities, which are typically cheaper than on-premises security solutions and often deliver better security.
However, retailers can often find themselves under-utilising the security benefits of the Cloud, leaving them vulnerable to threats. Selecting the right Cloud service provider is vital. Storing sensitive data on a Cloud service, enabled and managed by an experienced partner, ensures that client and customer data remains safe, secure and accessible.
According to a recent Accenture report, most retail players are adopting cloud computing, with cloud investment skyrocketing from $4 billion to an estimated $15 billion over the last 12 months. However, many retailers ignore the Cloud revolution due to the complexity of the cloud migration process, which in turn leaves them vulnerable in a rapidly changing and unforgiving business climate.
AWS Partners can support your retail business on every step of its cloud journey. We can help guide a business on its Cloud journey and ensure they receive all the security and productivity benefits the Cloud offers. Contact our AWS qualified Retail Consultants to discover how you can unlock the full benefits of Cloud technology.