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
pr@infotech.com.
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
pr@infotech.com.
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 pr@infotech.com.
For information about Info-Tech Research Group or to access the
latest research, visit infotech.com and connect via
LinkedIn and X.
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SOURCE Info-Tech Research Group