WHY IT MATTERS: Digital Transformation
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WHY IT MATTERS: Digital Transformation
Going digital in your business? I select the best posts and highlight the reasons why it matters. Like it? Click "recommend" + register to get the digest in your inbox: http://fmcs.digital/newsletter-signup/
Curated by Farid Mheir
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Another great contribution by @JFGagne: A Framework + maturity model for #AI Governance that can be applied in #retail #finance to drive the #strategic planning process and govern its implementation

Another great contribution by @JFGagne: A Framework + maturity model for #AI Governance that can be applied in #retail #finance to drive the #strategic planning process and govern its implementation | WHY IT MATTERS: Digital Transformation | Scoop.it

Modern AI can figure out patterns, classify objects, make decisions and evaluate the results. It can learn and adapt to new situations using feedback loops. It’s awesome software. You don't need to pay someone to make an analysis then pay someone to create a piece of software then pay someone to validate the outcome then realize it’s not doing  what you expected then go back and tweak the software. That whole cycle can take years in large organizations, yet a properly designed process powered by artificial intelligence can do that in a matter of days. It can recode itself, roll the changes out, and verify if it’s actually moving the needle in a direction that you want — all at an accuracy and speed beyond human ability. Quite powerful. Quite threatening.

Farid Mheir's insight:

WHY IT MATTERS: this is quite useful framework to help guide the strategic planning process and measure its progress.

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Vezta & Co.'s curator insight, November 5, 6:34 AM

WHY IT MATTERS: this is quite useful framework to help guide the strategic planning process and measure its progress.

Antonio Lopez's curator insight, November 5, 9:45 AM
Lookathis
Lenka Vural's curator insight, November 7, 3:17 AM
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An excellent short video by digital #retail pioneer Federico Marchetti of @NetAPorter which explains how humans+AI is the best combination: AI Can't Create Luxury. You Need Human Talent

Today we use labels to signify a sense of luxury and quality. As automation paces ahead, there is a new label making its way through to denote the fineness of items and garments: made by human beings, says Federico Marchetti, Founder and CEO of the Yoox Net-A-Porter Group. Marchetti is an entrepreneur at the helm of luxury and technology, who both founded and now heads the world’s leading online luxury retailer.

Farid Mheir's insight:

WHY IT MATTERS: This leader and pioneer explains how retailers can leverage AI to make their designers and sales teams better at their job.

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Best example of #newStoreExperience through #omni-channel technologies: Target deploying mobile checkout in their stores + redesigning to have 2 entrances: Why big-box retailers are no longer betti...

Best example of #newStoreExperience through #omni-channel technologies: Target deploying mobile checkout in their stores + redesigning to have 2 entrances: Why big-box retailers are no longer betti... | WHY IT MATTERS: Digital Transformation | Scoop.it

So instead of trying to battle Amazon using the legacy inventory model — hoping that whatever is in stores will compel customers to make purchases — retailers are focusing experience driven through convenience. To do that, retailers are reducing friction at checkout, giving customers to options to pick up or ship items to stores, and adding digital tools to help find products either in the store or online, if they’re out of stock.

Farid Mheir's insight:

WHY IT MATTERS: this short article is very clear: retailers are changing the "function" of their stores from inventory display to service + experience. This is made possible by large investments in technology to enable mobility in store (wifi, tablet to employees, software for employees) and links to backoffice and online systems (ERP for inventory and order management, eCommerce for online availability, same-day shipping). Of course this means huge investments that have traditionally not been made as they were considered "not useful" because not necessary in the legacy operating model.

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Sam's Club 'close' to unveiling cashierless Amazon Go rival via OLaborne #AI #Retail

Sam's Club 'close' to unveiling cashierless Amazon Go rival via OLaborne #AI #Retail | WHY IT MATTERS: Digital Transformation | Scoop.it

After hinting at the tech-heavy store concept this summer, the big-box club retailer said it will soon open a store that banks on scan-and-go tech.

Farid Mheir's insight:

WHY IT MATTERS: the technology that 2 years ago was since fiction is now becoming more common grounds. See http://fmcs.digital/?s=amazon+go for other retailers and solutions that will provide a similar solution than Amazon GO.

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The Blockchain Bean- an explanation of how IBM is using #blockchain to track coffee from the field to the cup

The Blockchain Bean- an explanation of how IBM is using #blockchain to track coffee from the field to the cup | WHY IT MATTERS: Digital Transformation | Scoop.it

Learn how blockchain helps you feel confident your coffee is fresh and fairly-sourced—even when it's traveled 7,000 miles around the world.

Farid Mheir's insight:

WHY IT MATTERS: the blockchain is showing promise for product traceability and this simple example from IBM shows how it is used.

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Video of the inside of Ocado's robotic warehouse where thousands of robots pack groceries #retail #robots

Ocado's new warehouse has thousands of robots zooming around a grid system to pack groceries. The thousands of robots can process 65,000 orders every week. They communicate on a 4G network to avoid bumping into each other. Is this the future of retail?

Farid Mheir's insight:

WHY IT MATTERS: this videos shows the inside of the new Ocado warehouse in UK. This warehouse is making its way top Canada, with Sobeys opening one soon: http://fmcs.digital/blog/u-k-s-ocado-taps-into-canadas-online-grocery-market-with-sobeys-tie-up-is-canada-mature-enough-to-have-automated-grocery-fulfillment-centers-ecommerce-robots/ 

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Kodilla's curator insight, October 31, 10:47 AM
This is the future of the retail industry, robots are so much more efficient and they don't need a paycheck
 
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Artificial intelligence for High Frequency Retail - Pricing, Inventory and Margins Optimization #AI #Retail #Grocery

Artificial intelligence for High Frequency Retail - Pricing, Inventory and Margins Optimization #AI #Retail #Grocery | WHY IT MATTERS: Digital Transformation | Scoop.it

Daisy Intelligence is one such artificial intelligence vendor. The Toronto-based company focuses on retail merchandise planning: promotion, pricing and demand forecasting optimization. We spoke with Gary Saarenvirta, CEO of Daisy Intelligence with the intention of finding answers to the following questions:
Why might grocery vendors or supermarkets need AI?
How can retailers leverage AI for optimizing merchandising decision making?

Farid Mheir's insight:

WHY IT MATTERS: the article presents possible use cases for AI in grocery Big Data analysis. 

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Obinna Odenigbo's curator insight, October 30, 3:55 AM
AI could be very useful in the retail industry. 
 
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The ForeSee Experience Index for #Retail provides Customer Experience Insights and shows how #omni-channel crosses between store, web and mobile

The ForeSee Experience Index for #Retail provides Customer Experience Insights and shows how #omni-channel crosses between store, web and mobile | WHY IT MATTERS: Digital Transformation | Scoop.it

Analyzing data gleaned from 40,000 shoppers, the Retail CX Insights report (the companion publication to our Retail CX Rankings) helps you understand the most important customer experience trends in retail, including:

How top-scoring brands learn to calibrate with customers
What the new customer journey reveals about technology and personalization trends
How brands like Apple, Tractor Supply, and Williams Sonoma are winning on CX
Why flexible fulfillment is changing buyer expectations

Farid Mheir's insight:

WHY IT MATTERS: omni channel is an important consideration to include in any technology strategy because customers expect to move across digital channels without effort.

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Retail isn’t dead, it’s just changing: Shopify’s Shimona Mehta on the future of e-commerce and Direct-to-consumer trends #eCommerce #Retail

Retail isn’t dead, it’s just changing: Shopify’s Shimona Mehta on the future of e-commerce and Direct-to-consumer trends #eCommerce #Retail | WHY IT MATTERS: Digital Transformation | Scoop.it

Shimona Mehta, Head of Revenue Acceleration for Shopify Plus, talks about the future of e-commerce and the key trends that are shaping the space. She talks about the three key trends shaping e-commerce today: Constantly shifting consumer behaviour, the need for retailers to innovate, and the rapid growth of direct-to-consumer sales. Watch the video for insights from Mehta on what these trends mean for your business.

Farid Mheir's insight:

WHY IT MATTERS: another point of view from an ecommerce pure play shopify. Interesting tidbits although there are a few commons grounds.

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joneson's comment, October 27, 4:23 AM
newbecca:https://www.newbecca.com
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New AR? FaceCake provide #augmented #retail solutions that seem interesting

New AR? FaceCake provide #augmented #retail solutions that seem interesting | WHY IT MATTERS: Digital Transformation | Scoop.it

The tool lets customers try on virtual pairs of earrings with Snapchat-like camera effects. In addition to seeing how various earrings look on your earlobes, you can also try different colored earrings, and share a preview of any look on social media before purchasing the earrings through the Dangle app.

Farid Mheir's insight:

WHY IT MATTERS: augmented reality has not yet exploded - this company provides relatively simple AR solutions for the retail and beauty industry.

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joneson's comment, October 27, 4:24 AM
newbecca:https://www.newbecca.com
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Artificial Intelligence in #Retail – 10 Present and Future Use Cases

Artificial Intelligence in #Retail – 10 Present and Future Use Cases | WHY IT MATTERS: Digital Transformation | Scoop.it

In this article, we cover a variety of examples in which AI is being integrated in the retail industry, broken down into the following sub-categories: Sales and CRM Applications, Customer Recommendations, Manufacturing, Logistics and Delivery, Payments and Payment Services

Farid Mheir's insight:

WHY IT MATTERS: some of the use cases may be far fetched but still give a good idea of what is possible (not necessarily what is useful...). Good to know nevertheless.

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Harpal Jadon's curator insight, October 18, 7:18 AM
Harpal Singh Jadon
Harpal Jadon's curator insight, October 18, 7:19 AM
Harpal Singh Jadon
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Retail stores will transform into an experience delivery center - Internet of Things #IoT will enable the key use cases to make it happen @Altimeter

Retail stores will transform into an experience delivery center - Internet of Things #IoT will enable the key use cases to make it happen @Altimeter | WHY IT MATTERS: Digital Transformation | Scoop.it

IoT has paved the way for brands to use connected devices in their physical spaces too. Learn how location-based brands can invest in technology-rich locations that raise the bar for customer experience.

Farid Mheir's insight:

WHY IT MATTERS: store of the future will focus on customer experience and technologies such as IOT are key enablers to make the enhanced experience seamless and complete. This research document classifies applications for IOT into 3 categories, track, intuit behaviour and deliver experience. I find this classification and the examples in the document very useful.

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sales@thefutureof.report's curator insight, October 16, 4:06 PM
Retail as an experience center
 
Tuhin Islam's curator insight, October 24, 2:13 AM
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Customer experience is everything: retailers have so much work to do to meet customer expectations via @PWC survey

Customer experience is everything: retailers have so much work to do to meet customer expectations via @PWC survey | WHY IT MATTERS: Digital Transformation | Scoop.it

Know what it takes to deliver the kind of experience that keeps customers coming back.

Farid Mheir's insight:

WHY IT MATTERS: creating great customer experiences seems to be the next big thing in digital transformation of retail stores. This survey from PWC provides insights into expectations and benefits of providing great experiences.

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Customer experience is everything: core elements such as efficiency & service beat gimmicks such as fun & design via @PWC survey

Customer experience is everything: core elements such as efficiency & service beat gimmicks such as fun & design via @PWC survey | WHY IT MATTERS: Digital Transformation | Scoop.it

Know what it takes to deliver the kind of experience that keeps customers coming back.

Farid Mheir's insight:

WHY IT MATTERS: creating great customer experiences seems to be the next big thing in digital transformation of retail stores. This survey from PWC provides insights into expectations and benefits of providing great experiences.

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Customer experience is everything: hide technology to bring back human touch means most current companies need to revise their strategies and architecture via @PWC survey

Customer experience is everything: hide technology to bring back human touch means most current companies need to revise their strategies and architecture via @PWC survey | WHY IT MATTERS: Digital Transformation | Scoop.it

Know what it takes to deliver the kind of experience that keeps customers coming back.

Farid Mheir's insight:

WHY IT MATTERS: creating great customer experiences seems to be the next big thing in digital transformation of retail stores. This survey from PWC provides insights into expectations and benefits of providing great experiences.

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Customer experience is everything: you can charge more for products and services when experience is great via @PWC survey HT @HenriDolino

Customer experience is everything: you can charge more for products and services when experience is great via @PWC survey HT @HenriDolino | WHY IT MATTERS: Digital Transformation | Scoop.it

Know what it takes to deliver the kind of experience that keeps customers coming back.

Farid Mheir's insight:

WHY IT MATTERS: creating great customer experiences seems to be the next big thing in digital transformation of retail stores. This survey from PWC provides insights into expectations and benefits of providing great experiences.

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Vezta & Co.'s curator insight, October 9, 10:26 PM

WHY IT MATTERS: creating great customer experiences seems to be the next big thing in digital transformation of retail stores. This survey from PWC provides insights into expectations and benefits of providing great experiences.

Alexandre D'houndt's comment, October 11, 3:31 AM
AMAZING
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Prepare for the Holiday eCommerce rush with this guide

Prepare for the Holiday eCommerce rush with this guide | WHY IT MATTERS: Digital Transformation | Scoop.it

Ready for unique insights into Canada’s e-commerce holiday landscape – and tips on how to make the most of this 2018 holiday season?

Farid Mheir's insight:

WHY IT MATTERS: holiday season starts with black friday / cyber monday. Companies need to prepare to get their logistics and delivery ready. Some useful insights in this shameless plug from Canada Post...!

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In a store near you soon: robots that scan shelves to make sure everything is in the right place at the right price @Qopius #startup #FrenchTech #PRW2018

In a store near you soon: robots that scan shelves to make sure everything is in the right place at the right price @Qopius #startup #FrenchTech #PRW2018 | WHY IT MATTERS: Digital Transformation | Scoop.it

The Qube, our all-in-one artificial intelligence consists of many different engines working in harmony with each other to analyse shelf images instantaneously and extract information on product, brand, price and placement.

Farid Mheir's insight:

WHY IT MATTERS: a technical description of the technology required to make shelf scanning robots of startup Qopius a reality. Fascinating.

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Deepanshu Sharma's comment, October 4, 7:39 AM
nice
check this also
https://www.happydiwaliwishesandquotes.com/2018/09/Happy-Diwali-2018-Wishes-Quotes-And-Messages.html
Vezta & Co.'s curator insight, October 4, 11:58 AM

WHY IT MATTERS: a technical description of the technology required to make shelf scanning robots of startup Qopius a reality. Fascinating.

CCI VAL D'OISE's curator insight, October 4, 4:25 PM

Un robot pour veiller sur vos lineaires commerciaux ! 

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Forget autonomous cars, the future is made of autonomous carts that follow you in the supermarket, tracking your path and capturing all kinds of data - 7Fresh JD.com #AI #China

Forget autonomous cars, the future is made of autonomous carts that follow you in the supermarket, tracking your path and capturing all kinds of data - 7Fresh JD.com #AI #China | WHY IT MATTERS: Digital Transformation | Scoop.it

The future of food retail is to be found in China. Following Alibaba, major competitor JD.com has also opened its technologically advanced supermarket: 7Fresh uses eCommerce technology and aims to open 1,000 stores.

Farid Mheir's insight:

WHY IT MATTERS: expect to see more robots in supermarkets in the near future - especially if you are in China 7fresh new high-tech supermarket. See a short description of the store here.

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Future retail store may look more like a large vending machine or Sears counter : Walmart eyes pickup-only store in former Dominick’s HT @O_Laborne

Future retail store may look more like a large vending machine or Sears counter : Walmart eyes pickup-only store in former Dominick’s HT @O_Laborne | WHY IT MATTERS: Digital Transformation | Scoop.it

Proposed facility part of push to boost online grocery fulfillment. Walmart representative said the concept marks a different grocery pickup approach and would represent its largest pickup-only site. The location also would be Walmart’s first stand-alone, drive-up grocery facility in Illinois. The building would have no customer access and house 41,700 square feet of inventory space. Signs would direct customers driving through the lot to one of three canopied pickup bays, where they would park in a designated space and have their groceries loaded into their vehicle. Customers would order their groceries as usual via the Walmart Grocery app or website and select a pickup time in one-hour windows. Pickup trips and parking spots would be coordinated to avoid congestion.

Farid Mheir's insight:

WHY IT MATTERS: when Walmart gets into something, you should watch out. Here it seems they are exploring options for grocery fulfillment and delivery - as everyone is trying to figure out what will customer prefer and where to make money. But the solution feels like back to the future: the concept looks like a sears pickup counter from the old days! The article also mentions some delivery options being tested by Walmart including autonomous cars and crowdsourcing.

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Tuhin Islam's curator insight, October 25, 1:57 AM
Online grocery fulfilment? Can there be a Bangladesh version?
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Sephora is #1 in this year Top100 list of Performing Retailers in Personalization #retail #bigData #customerExperience

Sephora is #1 in this year Top100 list of Performing Retailers in Personalization #retail #bigData #customerExperience | WHY IT MATTERS: Digital Transformation | Scoop.it

Check out the top-performing retailers and ecommerce companies as evaluated by Sailthru's experts in retail personalization and customer experience.

Farid Mheir's insight:

WHY IT MATTERS: personalization is a key trend in digital transformation. This list provides a good insight into who the leaders are providing great insights into the things we must do to personalize web, email, mobile, etc. customer experience

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"Smart Phygital" the #buzzword at #PRW18 that bundles #digitalTransformation concepts and a new reality: there is no difference between #ecommerce and physical store commerce: it is just commerce #...

"Smart Phygital" the #buzzword at #PRW18 that bundles #digitalTransformation concepts and a new reality: there is no difference between #ecommerce and physical store commerce: it is just commerce #... | WHY IT MATTERS: Digital Transformation | Scoop.it

Une enquête menée en 2018 par 421 Research pour Ayden auprès de 5 033 Européens (Royaume-Uni, Allemagne, Espagne, France et Pays nordiques), rend compte de l'importance de la vision "Smart Phygital" pour les acteurs de la distribution. Comme le montre notre graphique, les attentes des consommateurs vis-à-vis de l'expérience d'achat se concentrent autour de 3 axes : la personnalisation, la stratégie omnicanale et l'innovation digitale.

Farid Mheir's insight:

WHY IT MATTERS: too many buzzwords, too many concepts are increasing the confusion of retailers and merchants. This year at the Paris Retail Week it was "smart phygital" a concept that means nothing more than the fact that eCommerce is morphing into retail commerce, driving changes in stores to go from mini-warehouses to an experience destinations where consumers will get product showrooms, advice and support. And all of that supported by digital technology and requiring huge digital transformation of processes and people.

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The Future of Commerce: 60 Stats and Trends for 2019 and Beyond #Infographic HT @MaireadKillian1

The Future of Commerce: 60 Stats and Trends for 2019 and Beyond #Infographic HT @MaireadKillian1 | WHY IT MATTERS: Digital Transformation | Scoop.it

Are you wondering what the future holds for your eCommerce website? Want to know the future trends likely to decide the success of your online shop?
Here’s a quick summary of the key points of focus:
Personalized experience
Multiple shopping channels
Customer service automation
Cryptocurrencies as a payment method
On-site and in-app mobile commerce
Same-day delivery
Pay-monthly models
The future of delivery services
Increasing video use
Pop up shops

Farid Mheir's insight:

WHY IT MATTERS: every one of these trends seems to be supported by specific technologies - and these tech are not yet fully deployed at retailers today, leading to many that struggle to stay relevant IMHO.

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Self scanning (and other digital tech) is 1 in 5 ways grocers are elevating the store experience - but I suggest you'd better hide #digital #technology so that it is outside of view

Self scanning (and other digital tech) is 1 in 5 ways grocers are elevating the store experience - but I suggest you'd better hide #digital #technology so that it is outside of view | WHY IT MATTERS: Digital Transformation | Scoop.it

From store-grown produce to a renewed emphasis on service counters, retailers are focusing on innovation as well as time-honored strategies in an effort to keep their stores relevant.

Farid Mheir's insight:

WHY IT MATTERS: from the recent Paris Retail Week, I have been infused with the mantra that store experience is the wave of the future. An it makes perfect sense - look at the 3 areas in an Apple store: showroom, service and support. Key element behind all of this is a good dose of technology. But here again the trend is to hide the technology (think Amazon GO) instead of putting it at the forefront (Walmart retiring their self scanning apps). More in this article.

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Digital will transform food shopping online, @Nielsen @FMI predict 70% will buy food online in 2025

Digital will transform food shopping online, @Nielsen @FMI predict 70% will buy food online in 2025 | WHY IT MATTERS: Digital Transformation | Scoop.it

FMI and Nielsen Company have partnered on the Digitally Engaged Food Shopper, a strategic engagement surrounding the forces and factors of change driven by digital technologies for both today’s and tomorrow’s food shopper. This multi-year initiative will reveal top trends in digitally enabled food shopping for both retailers and manufacturers to consider in their “connected commerce” strategies and capability investments. The exploration with Nielsen will ultimately inform food retailers and their trading partners how to craft a digital strategy; execute a plan; and appropriately resource it.

Farid Mheir's insight:

WHY IT MATTERS: FMI and Nielsen provide data to suggest that food grocery shopping online may reach disruption levels in 5-7 years. It is important because online grocery may be the last frontier of digital transformation. What we started in 1996 is finally showing signs of strong growth. We're almost there!

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Curated by Farid Mheir
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