Frost & Sullivan: M2M and Big Data to Overcome Challenges in the Retail Sector

Frost & Sullivan: M2M and Big Data toFrost & Sullivan: M2M and Big Data to Overcome Challenges in the Retail Sector PR Newswire LONDON, Oct. 10, 2013 - Intense competition and margin protection drive the need for new ICT solutions and applications High competition within the retail sector compels market participants to seek ways to sustain a well-organised, well-connected supply chain and develop production plans in tune with the customer's desires. Implementation of machine-to-machine (M2M) technologies and data analytics would be a solution to overcome these challenges. M2M can facilitate communication between supply chain actors and promote easier management of inventory. This technology can also provide a complete shopping experience for the customer and develop innovative methods of communicating with clients. According to Frost & Sullivan's ICT research, the retail sector spent €59.0 billion on ICT products and services across Europe in 2012. By 2017, ICT spend is forecast to increase to €75.0 billion at a compound average growth rate (CAGR) of 5.0 percent (2012-2017). At this CAGR, the retail sector is expected to enjoy the second highest growth rate of all vertical markets in Europe, just behind the wholesale and distribution sector. "Technological advancement in any industry helps to streamline operations.