Scott Koegler

Scott Koegler

Scott Koegler is Executive Editor for Big Data & Analytics Tech Brief

Data Retention Policies Must Fit Your Big Data Strategies

Data retention policy (DRP) is an important component in an organization's enterprise data management strategy. As simple as it can be, an enterprise data management strategy cannot be complete without it. Basically, DRP is a set of rules that guides the processes of holding, storing and deleting information that an organization generates or handles. Despite appearing simple, building a comprehensive data retention policy manageable and compatible with the legal, government, and industry demands is complicated.

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Big Data is Being Changed

Big data is proving to be a valuable resource that organizations can no longer ignore, regardless of the size or industry. It has changed the management and corporate landscape for the better, taking away the past when a person with the most experience was relied upon to make big decisions regarding the running of organizations. Today, data, not instinct, drive decision-making, which has reduced the cost of operations for businesses while enhancing the accuracy of decisions. Although there has been significant development in big data and analytics, there is still some room for more improvement. Here are some big data trends you should expect going forward.

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Big Data Changes Retail

Even before the current pandemic, the retail industry was going through a rapid transformation. The changes in this industry have significantly affected shopping behavior and have had massive changes in the retail sector. According to a survey conducted in 2019, 92 percent of the retail leaders were found to view reinventing the customer experience as the top priority. However, with the new reality of the COVID-19 pandemic, we have all been forced to accommodate the new changes. One of the critical changes that can be seen is the adoption of technology that includes big data strategies, artificial intelligence and machine learning. These technologies are used to understand the needs of the customers better and respond to them accordingly. Big data gives retailers ways to differentiate their brands through increased personalization for better customer service and demand forecasting. Here are some ways that big data is changing the retail sector.

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